Declares that regulations under the Federal Aviation Act of 1958 relating to airworthiness, supplemental type certificates, and technical orders in connection with civil aircraft shall apply to public aircraft. Authorizes the Secretary of Transportation (Secretary) to exempt a State, U.S. territory or possession, or the District of Columbia from compliance with such regulations if there are equally stringent regulations in effect. Directs the Secretary to issue regulations to require a State to report any accident involving a public use aircraft to the National Transportation Safety Board (NTSB). Requires the NTSB to investigate such accidents and report on them to the same extent as U.S. civil aviation accidents.