A bill to amend the Federal Aviation Act of 1958, to provide for expedited consideration by the Civil Aeronautics Board of applications for certificates of public convenience and necessity.

Amends the Federal Aviation Act of 1958 to direct the Civil Aeronautics Board to adopt time limitations for decisions regarding applications for certificates of public convenience and necessity to engage in interstate air transportation. Requires the Board, if it does not act within such period, to issue the certificate as requested unless it, by order entered within the specified time period, finds that the public interest or extraordinary circumstances justify delay for a period of time specified in the order.

Requires that any proposed rule or regulation establishing such time limits be submitted to each House of Congress and stipulates that it shall become effective 30 legislative days after submission unless either House adopts a resolution disapproving such rule or regulation.