; and (2) measures that may be taken to mitigate the impact of repealing the exception. (b) Contents The study required under subsection (a) shall address— (1) the level of revenue diversion at the airports covered by the exception described in subsection (a)(1) and the uses of the diverted revenue; (2) the terms of any bonds or financial covenants an airport owner has issued relying on diverted airport revenue; (3) applicable local laws or ordinances requiring use of airport revenue for nonairport purposes; (4) whether repealing the exception would improve the long-term financial performance of impacted airports