_______ Act of 2020

Bill: 116-hr-6778
Sponsor: full_name: Rep. Ocasio-Cortez, Alexandria [D-NY-14]
Introduced: 2020-05-08
Policy area: Labor and Employment
Subjects: Administrative law and regulatory procedures

Cardiovascular and respiratory health

Corporate finance and management

Economic performance and conditions

Emergency medical services and trauma care

Employee benefits and pensions

Government lending and loan guarantees

Infectious and parasitic diseases

Labor-management relations

Securities and Exchange Commission (SEC)

Small business

Unemployment

Wages and earnings
Latest action: action_date: 2020-05-08
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2020-05-08
action_desc: Introduced in House
text: <p>This bill prohibits corporations that receive specified federal aid related to the COVID-19 (i.e., coronavirus disease 2019) pandemic from making certain changes to their workforce. Specifically, corporations receiving such aid must not</p> <ul> <li>reduce workforce levels, employee benefits, or wages; or</li> <li>alter any collective bargaining agreements.</li> </ul> <p>These prohibitions apply beginning on the date a corporation first receives such aid and end one year after the date on which the later of either the termination of the COVID-19 public health emergency or the aid has been repaid.</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 6778 IN THE HOUSE OF REPRESENTATIVES May 8, 2020 Ms. Ocasio-Cortez (for herself and Ms. Waters ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Coronavirus Economic Stabilization Act of 2020 to place certain requirements on corporations receiving Federal aid related to COVID–19.

1. Short title This Act may be cited as the _______ Act of 2020 . 2. Requirements on all corporations receiving Federal aid related to COVID–19 (a) In general The CARES Act ( Public Law 116–136 ) is amended by inserting after section 4029 the following: 4030. Requirements on all corporations receiving Federal aid related to COVID–19 (a) In general Any corporation that receives Federal aid related to COVID–19 shall, during the covered period, comply with the following: (1) Workforce levels and benefits The corporation shall maintain at least the same workforce levels and benefits that existed before the COVID–19 emergency declaration. (2) Maintenance of worker pay The corporation shall maintain worker (either employee or contractor, full-time or part-time) pay throughout the entire duration of the covered period at or above the pay level the worker was earning before the emergency. (3) Maintenance of collective bargaining agreements The corporation may not alter any collective bargaining agreement that was in place on the date of the COVID–19 emergency declaration. (b) Enforcement; rulemaking The Securities and Exchange Commission shall have the authority to enforce this section and may issue such rules as may be necessary to carry out this section. (c) Definitions In this section: (1) Covered period With respect to a receipt of Federal aid related to COVID–19, the term covered period means the period— (A) beginning on the date such Federal aid is first received; and (B) ending after the 1-year period beginning on the later of— (i) the termination date of the emergency declared by the President on March 13, 2020, under section 501(b) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5191(b) ) with respect to the coronavirus disease 2019 (COVID–19); or (ii) the date on which all such Federal aid has been repaid. (2) COVID–19 emergency declaration The term COVID–19 emergency declaration means emergency declared on March 13, 2020, by the President under the Robert. T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5121 et seq.) relating to the Coronavirus Disease 2019 (COVID-19) pandemic. (3) Federal aid The term Federal aid means any emergency lending provided under section 13(3) of the Federal Reserve Act or any Federal financial support in the form of a grant, loan, or loan guarantee. . (b) Clerical amendment The table of contents in section 2 of the CARES Act is amended by inserting after the item relating to section 4029 the following: Sec. 4030. Requirements on all corporations receiving Federal aid related to COVID–19. .