; and (2) any additional legal authority the Secretary and the Administrator require in order to make additional slots at New York John F. Kennedy International Airport and LaGuardia Airport and runway timings at Newark Liberty International Airport available to lower cost passenger air carriers. 765. Regional airport capacity study (a) In general Not later than 1 year after the date of enactment of this Act, the Administrator shall initiate a study on the following: (1) Existing FAA policy and guidance that govern the siting of new airports or the transition of general aviation airports to commercial service. (2) Ways that existing regulations and policies could be streamlined to facilitate the development of new airport capacity, particularly in high-demand air travel regions looking to invest in new airport capacity. (3) Whether Federal funding sources (existing as of the date of enactment of this Act) that are authorized by the Secretary could be used for such purposes. (4) Whether such Federal funding sources meet the needs of the national airspace system for adding new airport capacity outside of the commercial service airports in operation as of the date of enactment of this Act. (5) If such Federal funding sources are determined by the Administrator to be insufficient for the purposes described in this subsection, an estimate of the funding gap. (b) Report Not later than 30 months after the date of enactment of this Act, the Administrator shall submit to the appropriate committees of Congress a report on the results of the study conducted under subsection (a), together with recommendations for such legislative or administrative action as the Administrator determines appropriate. (c) Guidance Not later than 3 years after the date of enactment of this Act, the Administrator shall, if appropriate, revise FAA guidance to incorporate the findings of the study conducted under subsection (a) to assist airports and State and local departments of transportation in increasing airport capacity to meet regional air