Air Traffic Controller Reform and Employee Stock Ownership Act of 2015

To establish an employee stock ownership plan for air traffic control personnel. 1. Short title This Act may be cited as the Air Traffic Controller Reform and Employee Stock Ownership Act of 2015 2. Transfer to a private corporation (a) In general In accordance with the plan described in section 4, the Secretary shall transfer air traffic control personnel to a corporation giving such personnel employee stock ownership in such corporation. The Secretary shall determine when such personnel shall be transferred, but in no case later than 1 year after the date of enactment of this Act, and what if any property used for air traffic control services of the Federal Aviation Administration shall be transferred to a corporation. (b) Consultation Before transferring any personnel to the corporation, the Secretary shall consult with— (1) the organization representing the largest number of air traffic controllers on such proposed transfer; (2) pilots; (3) representatives from passenger commercial airlines; and (4) representatives from commercial airlines. (c) Benefits for air traffic control personnel The Secretary shall coordinate with the Director of the Office of Personnel Management in the transfer of air traffic control personnel to the corporation, including any necessary reduction in force actions and severance benefits that may be necessary to carry out this Act. 3. Requirements for the corporation (a) In general A corporation shall be considered to satisfy the requirements of this section if such corporation— (1) is incorporated under the laws of a State; (2) is not a department, agency, or establishment of the United States; (3) issues securities in a manner consistent with subsection (b); and (4) satisfies such other requirements as the Secretary may by regulation prescribe in order to carry out the purposes of this Act. (b) Securities Any securities issued by the corporation, during the 1-year period beginning on the date of the enactment of this Act, shall be issued in a manner to be determined by the Secretary. 4. Transfer plan; determination by the Secretary (a) Transfer plan Not later than the 60th day after the date on which a corporation first satisfies the requirements of section 3, as determined under subsection (b), the Secretary shall, in conformance with the requirements of section 2, transmit to Congress— (1) a comprehensive plan providing for the orderly transfer of all property subject to this Act, including a timetable under which such transfer is completed not later than 180 days after the date on which such corporation first satisfies such requirements; and (2) such recommendations for legislation as the Secretary considers necessary in order to carry out the plan described in paragraph (1), including recommendations for the repeal or modification of appropriate Federal statutes. (b) Determination by the Secretary The Secretary shall, for purposes of this section, determine the date on which a corporation first satisfies the requirements of section 3. (c) Retention of senior management The Secretary shall determine who of senior management in air traffic control services shall continue at the Federal Aviation Administration after such transfer takes place, not to exceed 1 percent of the total number of air traffic control personnel employed at the FAA on the day before the date of enactment of this Act. 5. Definitions For purposes of this Act— (1) the term air traffic control personnel (2) the term FAA (3) the term property (4) the term Secretary (5) the term State

Summary: Air Traffic Controller Reform and Employee Stock Ownership Act of 2015 This bill directs the Department of Transportation to transfer Federal Aviation Administration air traffic control personnel and property to a private corporation. The corporation shall issue securities to such personnel giving them stock ownership in the corporation.