Amends SL 1996-10, as amended, renaming the Lincolnton-Lincoln County Airport Authority the Lincolnton-Lincoln County Regional Airport Authority (Airport Authority). Replaces references to the Authority Board to instead refer to the Airport Authority. Clarifies that Airport Authority members must be paid their actual travel expenses incurred in transacting the business of the Airport Authority. Removes the provision giving  the Airport Authority the option to exercise its powers concerning real and personal property property of airports and landing fields on its own or in conjunction with the City or County. Adds a new provision authorizing the Airport Authority to apply for federal and state grants and to accept offers made pursuant to specified federal law on behalf of the City and County. Allows the Airport Authority to unilaterally accept any grants that require a matching contribution of $50,000 or less from the City or County. Prohibits the Airport Authority from agreeing or committing to provide matching contributions that exceed $100,000 in any one fiscal year. Authorizes the limitations to be increased upon the express approval of both the Lincoln County Board of Commissioners and the Lincolnton City Council. Replaces the provision that excepts express statutory authorizations from the general prohibition against pledging credit of or imposing an obligation on the City or County, to instead provide for the narrow authorization, as enacted, as the exception to the general prohibition. Clarifies that the Airport Authority's chair is designated by Lincoln County while its officers are elected from among its members. Names the airport operated by the Airport Authority the Lincolnton-Lincoln County Airport; names the airfield of the Airport the David E. Lowe Airfield. Makes technical changes and makes language gender-neutral.