HR 2891 IH

107th CONGRESS

1st Session

H. R. 2891

To preserve the continued viability of the United States air transportation system.

IN THE HOUSE OF REPRESENTATIVES

September 14, 2001

Mr. YOUNG of Alaska (for himself, Mr. OBERSTAR, and Mr. THOMAS) introduced the following bill; which was referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

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A BILL

To preserve the continued viability of the United States air transportation system.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. DISASTER RELIEF.

Notwithstanding any other provision of law, the President is authorized, from funds made available in subsequent acts, to take the following actions to compensate U.S. certificated air carriers for losses sustained by air carriers as a result of the events of the attack on the United States on September 11, 2001:

(1) Suspend, delay, or modify any quarterly payment or other Federal financial obligation to the United States of the air carriers.

(2) Extend credit or guarantees or issue loans to the air carriers that do not in the aggregate exceed $12,500,000,000.

(3) Compensate up to $2,500,000,000 for direct losses sustained by the air carriers as a result of such events.

SEC. 2. DOCUMENTATION.

The amount of direct compensation to be made under section 1(3) to an air carrier may not exceed the amount of direct losses that the air carrier demonstrates to the satisfaction of the President using financial statements or other appropriate data that the air carrier sustained as a result of any Federal ground stop order issued by the Secretary of Transportation on September 11, 2001, or any subsequent order which continued such stoppage.

SEC. 3. LIMITATIONS.

Relief provided under section 1(1) shall be for a period not to exceed 6 months from the date of enactment of this Act. The authority to provide relief under section 1(1) and section 1(2) shall expire on the last day of the 6-month period beginning on such date of enactment.

SEC. 4. REPORT.

Not later than the last day of the 7-month period following the date of enactment of this Act, the President shall transmit a report to the Committee on Transportation and Infrastructure and the Committee on Ways and Means of the House of Representatives and the Committee on Commerce, Science, and Transportation and the Committee on Finance of the Senate, the House Committee on the Budget and the Senate Committee on the Budget, on the types and amounts of relief provided under this Act to each air carrier.

END