Creates the community aviation revitalization board and authorizes the board to: (1) Make direct loans to public use airport sponsors for the purpose of improvements at public use airports that primarily support general aviation activities; and

(2) Provide loans to privately owned airports for the purpose of airport improvements only if the state is receiving commensurate public benefit.

Directs the board to require guaranteed public access to an airport for the life of the loan plus ten years as a condition of all loans.

Requires the department of transportation to provide management services, including fiscal and contract services, to assist the board in implementing this act.

Creates the public use general aviation airport loan revolving account.