To extend the aviation war risk insurance program for 3 years.

H.R. 3065 is a legislative proposal designed to extend the federal aviation war risk insurance program through December 31, 2008. This program allows the Department of Transportation to provide insurance to airlines for losses resulting from acts of war or terrorism that private insurers are often unwilling to cover. Additionally, the bill limits an airline's financial liability for third-party damages in the event of a terrorist attack to $100 million, with the federal government assuming responsibility for claims exceeding that amount.

For the average citizen, this bill aims to ensure the continued stability and operation of the U.S. aviation industry during times of international conflict or heightened security threats. By providing a government-backed insurance safety net, the legislation helps prevent sudden spikes in airfares or widespread flight cancellations that could occur if airlines were unable to secure affordable private insurance. It also establishes a clear framework for how victims would be compensated following a major aviation security incident.