usc:us:15:9141

text: U.S.C. Title 15 - COMMERCE AND TRADE 15 U.S.C. United States Code, 2024 Edition Title 15 - COMMERCE AND TRADE CHAPTER 116 - CORONAVIRUS ECONOMIC STABILIZATION (CARES ACT) SUBCHAPTER III - ECONOMIC STABILIZATION AND ASSISTANCE TO SEVERELY DISTRESSED SECTORS OF THE UNITED STATES ECONOMY Part G - Airlines Sec. 9141 - Air transportation payroll support program extension From the U.S. Government Publishing Office, www.gpo.gov §9141. Air transportation payroll support program extension (a) Definitions The definitions in section 40102(a) of title 49 shall apply with respect to terms used in this section, except that— (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 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 "eligible air carrier" means an air carrier that— (A) received financial assistance pursuant 1 section 9092(a)(1) of this title; (B) provides air transportation as of March 31, 2021; (C) has not conducted involuntary furloughs or reduced pay rates or benefits between March 31, 2021, and the date on which the air carrier makes a certification to the Secretary pursuant to subparagraph (D); and (D) certifies to the Secretary that such air carrier will— (i) refrain from conducting involuntary furloughs or reducing pay rates or benefits until September 30, 2021, or the date on which assistance provided under this section is exhausted, whichever is later; (ii) refrain from purchasing an equity security of the air carrier or the parent company of the air carrier that is listed on a national securities exchange through September 30, 2022; (iii) refrain from paying dividends, or making other capital distributions, with respect to common stock (or equivalent interest) of such air carrier through September 30, 2022; (iv) during the 2-year period beginning April 1, 2021, and ending April 1, 2023, refrain from paying— (I) any officer or employee of the air carrier whose total compensation exceeded $425,000 in calendar year 2019 (other than an employee whose compensation is determined through an existing collective bargaining agreement entered into prior to March 11, 2021)— (aa) total compensation that exceeds, during any 12 consecutive months of such 2-year period, the total compensation received by the officer or employee from the air carrier in calendar year 2019; or (bb) severance pay or other benefits upon termination of employment with the air carrier which exceeds twice the maximum total compensation received by the officer or employee from the air carrier in calendar year 2019; and (II) any officer or employee of the air carrier whose total compensation exceeded $3,000,000 in calendar year 2019 during any 12 consecutive months of such period total compensation in excess of the sum of— (aa) $3,000,000; and (bb) 50 percent of the excess over $3,000,000 of the total compensation received by the officer or employee from the air carrier in calendar year 2019. 2 (5) the term "eligible contractor" means a contractor that— (A) received financial assistance pursuant to section 9092(a)(2) of this title; (B) performs one or more of the functions described under paragraph (2) as of March 31, 2021; (C) has not conducted involuntary furloughs or reduced pay rates or benefits between March 31, 2021, and the date on which the contractor makes a certification to the Secretary pursuant to subparagraph (D); and (D) certifies to the Secretary that such contractor will— (i) refrain from conducting involuntary furloughs or reducing pay rates or benefits until September 30, 2021, or the date on which assistance provided under this section is exhausted, whichever is later; (ii) refrain from purchasing an equity security of the contractor or the parent company of the contractor that is listed on a national securities exchange through September 30, 2022; (iii) refrain from paying dividends, or making other capital distributions, with respect to common stock (or equivalent interest) of the contractor through September 30, 2022; (iv) during the 2-year period beginning April 1, 2021, and ending April 1, 2023, refrain from paying— (I) any officer or employee of the contractor whose total compensation exceeded $425,000 in calendar year 2019 (other than an employee whose compensation is determined through an existing collective bargaining agreement entered into prior to March 11, 2021)— (aa) total compensation that exceeds, during any 12 consecutive months of such 2-year period, the total compensation received by the officer or employee from the contractor in calendar year 2019; or (bb) severance pay or other benefits upon termination of employment with the contractor which exceeds twice the maximum total compensation received by the officer or employee from the contractor in calendar year 2019; and (II) any officer or employee of the contractor whose total compensation exceeded $3,000,000 in calendar year 2019 during any 12 consecutive months of such period total compensation in excess of the sum of— (aa) $3,000,000; and (bb) 50 percent of the excess over $3,000,000 of the total compensation received by the officer or employee from the contractor in calendar year 2019. 3 (6) the term "Secretary" means the Secretary of the Treasury. (b) Payroll support grants (1) In general The Secretary shall make available to eligible air carriers and eligible contractors, financial assistance exclusively for the continuation of payment of employee wages, salaries, and benefits to— (A) eligible air carriers, in an aggregate amount of $14,000,000,000; and (B) eligible contractors, in an aggregate amount of $1,000,000,000. (2) Apportionments (A) In general The Secretary shall apportion funds to eligible air carriers and eligible contractors in accordance with the requirements of this section not later than April 15, 2021. (B) Eligible air carriers The Secretary shall apportion funds made available under paragraph (1)(A) to each eligible air carrier in the ratio that— (i) the amount received by the air carrier pursuant to section 9093(a) of this title bears to (ii) $15,000,000,000. (C) Eligible contractors The Secretary shall apportion, to each eligible contractor, an amount equal to the total amount such contractor received pursuant to section 9093(a) of this title. (3) In general (A) Forms; terms and conditions The Secretary shall provide financial assistance to an eligible air carrier or eligible contractor under this section in the same form and on the same terms and conditions as determined by pursuant to 4 section 9093(b)(1)(A) of this title. (B) Procedures The Secretary shall publish streamlined and expedited procedures not later than 5 days after March 11, 2021, for eligible air carriers and eligible contractors to submit requests for financial assistance under this section. (C) Deadline for immediate payroll assistance Not later than 10 days after March 11, 2021, the Secretary shall make initial payments to air carriers and contractors that submit requests for financial assistance approved by the Secretary. (4) Taxpayer protection The Secretary shall receive financial instruments issued by recipients of financial assistance under this section in the same form and amount, and under the same terms and conditions, as determined by the Secretary under section 9098 of this title. (5) Administrative expenses Of the amounts made available under paragraph (1)(A), $10,000,000 shall be made available to the Secretary for costs and administrative expenses associated with providing financial assistance under this section. (c) Funding In addition to amounts otherwise available, there is appropriated for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $15,000,000,000, to remain available until expended, to carry out this section. (Pub. L. 117–2, title VII, §7301, Mar. 11, 2021, 135 Stat. 104.) Editorial Notes Codification 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. 1 So in original. Probably should be followed by "to". 2 So in original. The period probably should be a semicolon. 3 So in original. The period probably should be "; and". 4 So in original.