dreamproit/uscode huggingface dataset:
15 U.S.C. § 9050 (COMMERCE AND TRADE)
§ 9050. Temporary relief for community banks
(a) Definitions
In this section—
(1) the term “appropriate Federal banking agency” has the meaning given the term in section 2 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (12 U.S.C. 5365 note); and
(2) the terms “Community Bank Leverage Ratio” and “qualifying community bank” have the meanings given the terms in section 201(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (12 U.S.C. 5371 note).
(b) Interim rule
(1) In general
Notwithstanding any other provision of law or regulation, the appropriate Federal banking agencies shall issue an interim final rule that provides that, for the purposes of section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (12 U.S.C. 5371 note)—
(A) the Community Bank Leverage Ratio shall be 8 percent; and
(B) a qualifying community bank that falls below the Community Bank Leverage Ratio established under subparagraph (A) shall have a reasonable grace period to satisfy the Community Bank Leverage Ratio.
(2) Effective period
The interim rule issued under paragraph (1) shall be effective during the period beginning on the date on which the appropriate Federal banking agencies issue the rule and ending on the sooner of—
(A) the termination date of the national emergency concerning the novel coronavirus disease (COVID–19) outbreak declared by the President on March 13, 2020 under the National Emergencies Act (50 U.S.C. 1601 et seq.); or
(B) December 31, 2020.
(c) Grace period
During a grace period described in subsection (b)(1)(B), a qualifying community bank to which the grace period applies may continue to be treated as a qualifying community bank and shall be presumed to satisfy the capital and leverage requirements described in section 201(c) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (12 U.S.C. 5371 note).
(Pub. L. 116–136, div. A, title IV, § 4012, Mar. 27, 2020, 134 Stat. 479.)
heading: Editorial Notes
heading: References in Text
text: Section 2 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, referred to in subsec. (a)(1), is section 2 of Pub. L. 115–174, May 24, 2018, 132 Stat. 1297, which is set out as a note under section 5365 of Title 12, Banks and Banking.
Section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, referred to in subsecs. (a)(2), (b)(1), and (c), is section 201 of Pub. L. 115–174, May 24, 2018, 132 Stat. 1306, which is set out as a note under section 5371 of Title 12, Banks and Banking.
The National Emergencies Act, referred to in subsec. (b)(2)(A), is Pub. L. 94–412, Sept. 14, 1976, 90 Stat. 1255, which is classified principally to chapter 34 (§ 1601 et seq.) of Title 50, War and National Defense. For complete classification of this Act to the Code, see Short Title note set out under section 1601 of Title 50 and Tables.
15 U.S.C. § 9052 (COMMERCE AND TRADE)
§ 9052. Optional temporary relief from current expected credit losses
(a) Definitions
In this section:
(1) Appropriate Federal banking agency
The term “appropriate Federal banking agency”—
(A) has the meaning given the term in section 1813 of title 12; and
(B) includes the National Credit Union Administration.
(2) Insured depository institution
The term “insured depository institution”—
(A) has the meaning given the term in section 1813 of title 12; and
(B) includes a credit union.
(b) Temporary relief from CECL standards
Notwithstanding any other provision of law, no insured depository institution, bank holding company, or any affiliate thereof shall be required to comply with the Financial Accounting Standards Board Accounting Standards Update No. 2016–13 (“Measurement of Credit Losses on Financial Instruments”), including the current expected credit losses methodology for estimating allowances for credit losses, during the period beginning on March 27, 2020 and ending on the earlier of—
(1) the first day of the fiscal year of the insured depository institution, bank holding company, or any affiliate thereof that begins after the date on which the national emergency concerning the novel coronavirus disease (COVID–19) outbreak declared by the President on March 13, 2020 under the National Emergencies Act (50 U.S.C. 1601 et seq.) terminates; or
(2) January 1, 2022.
(Pub. L. 116–136, div. A, title IV, § 4014, Mar. 27, 2020, 134 Stat. 480; Pub. L. 116–260, div. N, title V, § 540(a)(1), Dec. 27, 2020, 134 Stat. 2090.)
heading: Editorial Notes
heading: References in Text
text: The National Emergencies Act, referred to in subsec. (b)(1), is Pub. L. 94–412, Sept. 14, 1976, 90 Stat. 1255, which is classified principally to chapter 34 (§ 1601 et seq.) of Title 50, War and National Defense. For complete classification of this Act to the Code, see Short Title note set out under section 1601 of Title 50 and Tables.
heading: Amendments
text: 2020—Subsec. (b)(1). Pub. L. 116–260, § 540(a)(1)(A), inserted “the first day of the fiscal year of the insured depository institution, bank holding company, or any affiliate thereof that begins after” before “the date”.
Subsec. (b)(2). Pub. L. 116–260, § 540(a)(1)(B), substituted “January 1, 2022” for “December 31, 2020”.
15 U.S.C. § 9054 (COMMERCE AND TRADE)
§ 9054. Conflicts of interest
(a) Definitions
In this section:
(1) Controlling interest
The term “controlling interest” means owning, controlling, or holding not less than 20 percent, by vote or value, of the outstanding amount of any class of equity interest in an entity.
(2) Covered entity
The term “covered entity” means an entity in which a covered individual directly or indirectly holds a controlling interest. For the purpose of determining whether an entity is a covered entity, the securities owned, controlled, or held by 2 or more individuals who are related as described in paragraph (3)(B) shall be aggregated.
(3) Covered individual
The term “covered individual” means—
(A) the President, the Vice President, the head of an Executive department, or a Member of Congress; and
(B) the spouse, child, son-in-law, or daughter-in-law, as determined under applicable common law, of an individual described in subparagraph (A).
(4) Executive department
The term “Executive department” has the meaning given the term in section 101 of title 5.
(5) Member of Congress
The term “member of Congress” means a member of the Senate or House of Representatives, a Delegate to the House of Representatives, and the Resident Commissioner from Puerto Rico.
(6) Equity interest
The term “equity interest” means—
(A) a share in an entity, without regard to whether the share is—
(i) transferable; or
(ii) classified as stock or anything similar;
(B) a capital or profit interest in a limited liability company or partnership; or
(C) a warrant or right, other than a right to convert, to purchase, sell, or subscribe to a share or interest described in subparagraph (A) or (B), respectively.
(b) Prohibition
Notwithstanding any other provision of this part, no covered entity may be eligible for any transaction described in section 9042 of this title.
(c) Requirement
The principal executive officer and the principal financial officer, or individuals performing similar functions, of an entity seeking to enter a transaction under section 9042 of this title shall, before that transaction is approved, certify to the Secretary and the Board of Governors of the Federal Reserve System that the entity is eligible to engage in that transaction, including that the entity is not a covered entity.
(Pub. L. 116–136, div. A, title IV, § 4019, Mar. 27, 2020, 134 Stat. 485.)
heading: Editorial Notes
heading: References in Text
text: This part, referred to in subsec. (b), was in the original “this subtitle”, meaning subtitle A (§§ 4001–4029) of title IV of div. A of Pub. L. 116–136, known as the Coronavirus Economic Stabilization Act of 2020, which is classified principally to this part. For complete classification of subtitle A to the Code, see section 4001 of Pub. L. 116–136, set out as a Short Title note under section 9001 of this title, and Tables.
15 U.S.C. § 9058b (COMMERCE AND TRADE)
§ 9058b. Funding for water assistance program
(a) In general
In addition to amounts otherwise available, there is appropriated to the Secretary of Health and Human Services (in this section referred to as the “Secretary”) for fiscal year 2021, out of any amounts in the Treasury not otherwise appropriated, $500,000,000, to remain available until expended, for grants to States and Indian Tribes to assist low-income households, particularly those with the lowest incomes, that pay a high proportion of household income for drinking water and wastewater services, by providing funds to owners or operators of public water systems or treatment works to reduce arrearages of and rates charged to such households for such services.
(b) Allotment
The Secretary shall—
(1) allot amounts appropriated in this section to a State or Indian Tribe based on—
(A) the percentage of households in the State, or under the jurisdiction of the Indian Tribe, with income equal or less than 150 percent of the Federal poverty line; and
(B) the percentage of households in the State, or under the jurisdiction of the Indian Tribe, that spend more than 30 percent of monthly income on housing; and
(2) reserve up to 3 percent of the amount appropriated in this section for Indian Tribes and tribal organizations.
(c) Definition
In this section, the term “State” means each of the 50 States of the United States, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, Guam, the United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands.
(Pub. L. 117–2, title II, § 2912, Mar. 11, 2021, 135 Stat. 51.)
heading: Editorial Notes
heading: Codification
text: Section was enacted as part of the American Rescue Plan Act of 2021, and not as part of the CARES Act which in part comprises this chapter.
15 U.S.C. § 9059 (COMMERCE AND TRADE)
§ 9059. Protection of collective bargaining agreement
(a) In general
Neither the Secretary, nor any other actor, department, or agency of the Federal Government, shall condition the issuance of a loan or loan guarantee under paragraph (1), (2), or (3) of section 9042(b) of this title on an air carrier’s or eligible business’s implementation of measures to enter into negotiations with the certified bargaining representative of a craft or class of employees of the air carrier or eligible business under the Railway Labor Act (45 U.S.C. 151 et seq.) or the National Labor Relations Act (29 U.S.C. 151 et seq.), regarding pay or other terms and conditions of employment.
(b) Period of effect
With respect to an air carrier or eligible business to which the loan or loan guarantee is provided under this part, this section shall be in effect with respect to the air carrier or eligible business beginning on the date on which the air carrier or eligible business is first issued such loan or loan guarantee and ending on the date that is 1 year after the loan or loan guarantee is no longer outstanding.
(Pub. L. 116–136, div. A, title IV, § 4025, Mar. 27, 2020, 134 Stat. 494.)
heading: Editorial Notes
heading: References in Text
text: The Railway Labor Act, referred to in subsec. (a), is act May 20, 1926, ch. 347, 44 Stat. 577, which is classified principally to chapter 8 (§ 151 et seq.) of Title 45, Railroads. For complete classification of this Act to the Code, see section 151 of Title 45 and Tables.
The National Labor Relations Act, referred to in subsec. (a), is act July 5, 1935, ch. 372, 49 Stat. 449, which is classified generally to subchapter II (§ 151 et seq.) of chapter 7 of Title 29, Labor. For complete classification of this Act to the Code, see section 167 of Title 29 and Tables.
This part, referred to in subsec. (b), was in the original “this subtitle”, meaning subtitle A (§§ 4001–4029) of title IV of div. A of Pub. L. 116–136, known as the Coronavirus Economic Stabilization Act of 2020, which is classified principally to this part. For complete classification of subtitle A to the Code, see section 4001 of Pub. L. 116–136, set out as a Short Title note under section 9001 of this title, and Tables.
15 U.S.C. § 9061 (COMMERCE AND TRADE)
§ 9061. Direct appropriation
(a) In general
Notwithstanding any other provision of law, there is appropriated, out of amounts in the Treasury not otherwise appropriated, to the fund established under section 5302(a)(1) of title 31, $500,000,000,000 to carry out this part.
(b) Omitted
(c) Clarification
(1) In general
On or after January 1, 2021, any remaining funds made available under section 9042(b) of this title may be used only for—
(A) modifications, restructurings, or other amendments of loans, loan guarantees, or other investments in accordance with section 9063(b)(1) of this title; and
(B) exercising any options, warrants, or other investments made prior to January 1, 2021; and
(C) paying costs and administrative expenses as provided in section 9042(f) of this title.
(2) Deficit reduction
On January 1, 2026, any funds described in paragraph (1) that are remaining shall be transferred to the general fund of the Treasury to be used for deficit reduction.
(Pub. L. 116–136, div. A, title IV, § 4027, Mar. 27, 2020, 134 Stat. 496.)
heading: Editorial Notes
heading: References in Text
text: This part, referred to in subsec. (a), was in the original “this subtitle”, meaning subtitle A (§§ 4001–4029) of title IV of div. A of Pub. L. 116–136, known as the Coronavirus Economic Stabilization Act of 2020, which is classified principally to this part. For complete classification of subtitle A to the Code, see section 4001 of Pub. L. 116–136, set out as a Short Title note under section 9001 of this title, and Tables.
heading: Codification
text: Section is comprised of section 4027 of Pub. L. 116–136. Subsec. (b) of section 4027 of Pub. L. 116–136 amended section 5302 of Title 31, Money and Finance.
15 U.S.C. § 9062 (COMMERCE AND TRADE)
§ 9062. Rule of construction
Nothing in this part shall be construed to allow the Secretary to provide relief to eligible businesses, States, and municipalities except in the form of loans, loan guarantees, and other investments as provided in this part and under terms and conditions that are in the interest of the Federal Government.
(Pub. L. 116–136, div. A, title IV, § 4028, Mar. 27, 2020, 134 Stat. 497.)
heading: Editorial Notes
heading: References in Text
text: This part, referred to in text, was in the original “this subtitle”, meaning subtitle A (§§ 4001–4029) of title IV of div. A of Pub. L. 116–136, known as the Coronavirus Economic Stabilization Act of 2020, which is classified principally to this part. For complete classification of subtitle A to the Code, see section 4001 of Pub. L. 116–136, set out as a Short Title note under section 9001 of this title, and Tables.
15 U.S.C. § 9071 (COMMERCE AND TRADE)
§ 9071. Definitions
Unless otherwise specified, the terms in section 40102(a) of title 49 shall apply to this part, except that—
(1) the term “airline catering employee” means an employee who performs airline catering services;
(2) the term “airline catering services” means preparation, assembly, or both, of food, beverages, provisions and related supplies for delivery, and the delivery of such items, directly to aircraft or to a location on or near airport property for subsequent delivery to aircraft;
(3) the term “contractor” means—
(A) a person that performs, under contract with a passenger air carrier conducting operations under part 121 of title 14, Code of Federal Regulations—
(i) catering functions; or
(ii) functions on the property of an airport that are directly related to the air transportation of persons, property, or mail, including but not limited to the loading and unloading of property on aircraft; assistance to passengers under part 382 of title 14, Code of Federal Regulations; security; airport ticketing and check-in functions; ground-handling of aircraft; or aircraft cleaning and sanitization functions and waste removal; or
(B) a subcontractor that performs such functions;
(4) the term “employee” means an individual, other than a corporate officer, who is employed by an air carrier or a contractor;
(5) the term “recall” means the dispatch of a notice by a contractor, via mail, courier, or electronic mail, to an involuntarily furloughed employee notifying the employee that—
(A) the employee must, within a specified period of time that is not less than 14 days, elect either—
(i) to return to employment or bypass return to employment in accordance with an applicable collective bargaining agreement or, in the absence of a collective bargaining agreement, company policy; or
(ii) to permanently separate from employment with the contractor; and
(B) failure to respond within such time period specified will be deemed to be an election under subparagraph (A)(ii); and
(6) the term “Secretary” means the Secretary of the Treasury.
(Pub. L. 116–136, div. A, title IV, § 4111, Mar. 27, 2020, 134 Stat. 497; Pub. L. 116–260, div. N, title IV, § 412(b), Dec. 27, 2020, 134 Stat. 2061.)
heading: Editorial Notes
heading: Amendments
text: 2020—Pars. (5), (6). Pub. L. 116–260 added par. (5) and redesignated former par. (5) as (6).
15 U.S.C. § 9075 (COMMERCE AND TRADE)
§ 9075. Protection of collective bargaining agreement
(a) In general
Neither the Secretary, nor any other actor, department, or agency of the Federal Government, shall condition the issuance of financial assistance under this part on an air carrier’s or contractor’s implementation of measures to enter into negotiations with the certified bargaining representative of a craft or class of employees of the air carrier or contractor under the Railway Labor Act (45 U.S.C. 151 et seq.) or the National Labor Relations Act (29 U.S.C. 151 et seq.), regarding pay or other terms and conditions of employment.
(b) Period of effect
With respect to an air carrier or contractor to which financial assistance is provided under this part, this section shall be in effect with respect to the air carrier or contractor beginning on the date on which the air carrier or contractor is first issued such financial assistance and ending on September 30, 2020.
(Pub. L. 116–136, div. A, title IV, § 4115, Mar. 27, 2020, 134 Stat. 500.)
heading: Editorial Notes
heading: References in Text
text: The Railway Labor Act, referred to in subsec. (a), is act May 20, 1926, ch. 347, 44 Stat. 577, which is classified principally to chapter 8 (§ 151 et seq.) of Title 45, Railroads. For complete classification of this Act to the Code, see section 151 of Title 45 and Tables.
The National Labor Relations Act, referred to in subsec. (a), is act July 5, 1935, ch. 372, 49 Stat. 449, which is classified generally to subchapter II (§ 151 et seq.) of chapter 7 of Title 29, Labor. For complete classification of this Act to the Code, see section 167 of Title 29 and Tables.
15 U.S.C. § 9091 (COMMERCE AND TRADE)
§ 9091. Definitions
Unless otherwise specified, the definitions in section 40102(a) of title 49 shall apply to this part, except that in this part—
(1) the term “catering functions” means preparation, assembly, or both, of food, beverages, provisions and related supplies for delivery, and the delivery of such items, directly to aircraft or to a location on or near airport property for subsequent delivery to aircraft;
(2) the term “contractor” means—
(A) a person that performs, under contract with a passenger air carrier conducting operations under part 121 of title 14, Code of Federal Regulations—
(i) catering functions; or
(ii) functions on the property of an airport that are directly related to the air transportation of persons, property, or mail, including, but not limited to, the loading and unloading of property on aircraft, assistance to passengers under part 382 of title 14, Code of Federal Regulations, security, airport ticketing and check-in functions, ground-handling of aircraft, or aircraft cleaning and sanitization functions and waste removal; or
(B) a subcontractor that performs such functions;
(3) the term “employee” means an individual, other than a corporate officer, who is employed by an air carrier or a contractor;
(4) the term “recall” means the dispatch of a notice by a passenger air carrier or a contractor, via mail, courier, or electronic mail, to an involuntarily furloughed employee notifying the employee that—
(A) the employee must, within a specified period of time, elect either—
(i) to return to employment or bypass return to employment, in accordance with an applicable collective bargaining agreement or, in the absence of a collective bargaining agreement, company policy; or
(ii) to permanently separate from employment with the passenger air carrier or contractor; and
(B) failure to respond within such time period specified shall be considered an election under subparagraph (A)(ii);
(5) the term “returning employee” means an involuntarily furloughed employee who has elected to return to employment pursuant to a recall notice; and
(6) the term “Secretary” means the Secretary of the Treasury.
(Pub. L. 116–260, div. N, title IV, § 401, Dec. 27, 2020, 134 Stat. 2052.)
heading: Editorial Notes
heading: References in Text
text: This part, referred to in text, was in the original “this subtitle”, meaning subtitle A (§§ 401–412) of title IV of div. N of Pub. L. 116–260, Dec. 27, 2020, 134 Stat. 2052, which enacted this part and amended sections 9041, 9071, and 9074 of this title. For complete classification of subtitle A to the Code, see Tables.
heading: Codification
text: Section was enacted as part of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and also as part of the Consolidated Appropriations Act, 2021, and not as part of the CARES Act which in part comprises this chapter.
15 U.S.C. § 9092 (COMMERCE AND TRADE)
§ 9092. Pandemic relief for aviation workers
(a) Financial assistance for employee wages, salaries, and benefits
Notwithstanding any other provision of law, to preserve aviation jobs and compensate air carrier industry workers, the Secretary shall provide financial assistance that shall exclusively be used for the continuation of payment of employee wages, salaries, and benefits to—
(1) passenger air carriers, in an aggregate amount up to $15,000,000,000; and
(2) contractors, in an aggregate amount up to $1,000,000,000.
(b) Administrative expenses
Notwithstanding any other provision of law, the Secretary may use funds made available under section 9072(b) of this title for costs and administrative expenses associated with providing financial assistance under this part.
(Pub. L. 116–260, div. N, title IV, § 402, Dec. 27, 2020, 134 Stat. 2053.)
heading: Editorial Notes
heading: References in Text
text: This part, referred to in subsec. (b), was in the original “this subtitle”, meaning subtitle A (§§ 401–412) of title IV of div. N of Pub. L. 116–260, Dec. 27, 2020, 134 Stat. 2052, which enacted this part and amended sections 9041, 9071, and 9074 of this title. For complete classification of subtitle A to the Code, see Tables.
heading: Codification
text: Section was enacted as part of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and also as part of the Consolidated Appropriations Act, 2021, and not as part of the CARES Act which in part comprises this chapter.