((a)) ** .—** The Administrator of the Environmental Protection Agency, in consultation with the Secretary of Transportation, shall issue guidance on how to ensure that airport sponsors may receive appropriate emission reduction credits for carrying out projects, including projects described in sections 40117(a)(3)(G), 47102(3)(K), and 47102(3)(L). Such guidance shall include, at a minimum, the following considerations:

((1)) The provision of credits is consistent with the Clean Air Act ( et seq.).

((2)) Credits generated by the emissions reductions are kept by the airport sponsor, including for an airport outside of a nonattainment area or maintenance area, and may be used for purposes of any current or future general conformity determination under the Clean Air Act, as offsets under the Environmental Protection Agency’s new source review program for projects on the airport or associated with the airport, or as part of a State implementation plan.

((3)) Credits are calculated and provided to airports on a consistent basis nationwide.

((4)) Credits are provided to airport sponsors in a timely manner.

((5)) The establishment of a method to assure the Secretary that, for any specific airport project for which funding is being requested, the appropriate credits will be granted.

((b)) ** .—** Nothing in this section shall be construed as overriding existing State law or regulation pursuant to section 116 of the Clean Air Act ().