Congress 107 - HR 2926 - Air Transportation Safety and System Stabilization Act

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Access to airports Administrative remedies Air cargo Air piracy Airline employees Airline passenger traffic Airlines Airports Auditing Aviation insurance Aviation safety Bombings Business records Civil actions and liability Claims Commerce Commercial aircraft Compensation (Law) Compensation for victims of crime Congress Congressional investigations Congressional reporting requirements Crime and Law Enforcement Damages Department of Defense Department of Justice Disaster relief EBB Terrorism Economics and Public Finance Emergency Management Employee stock options Excise tax Executive compensation Executive reorganization Federal aid to transportation Federal office buildings Federally-guaranteed loans Finance and Financial Sector Financial statements Flight crews Fringe benefits Government and business Government lending Government Operations and Politics Government paperwork Housing and Community Development Income tax Insurance premiums Insurance rates International Affairs Labor and Employment Law Legislation Liability for aircraft accidents Liability insurance New York City Office buildings Pennsylvania Punitive damages Railroad retirement plans Reinsurance Revolving funds Salaries Security measures September 11, 2001 Severance pay Social security taxes Social Welfare Sparsely populated areas Stocks Subcontractors Tax administration Taxation Terrorism Transportation and Public Works Victims of terrorism Virginia Withholding tax

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Summary

Air Transportation Safety and System Stabilization Act - Title I: Airline Stabilization - Directs the President to take certain actions to compensate air carriers for losses they incurred as a result of the terrorist attacks on the United States on September 11, 2001, including to: (1) issue Federal credit instruments (including subsidy amounts for such instruments) in the aggregate not to exceed $10 billion to such air carriers; and (2) compensate them in the aggregate of $5 billion for direct losses incurred as a result of any Federal ground stop order issued by the Government and any incremental losses incurred as a direct result of such attacks. Designates the amount of new budget authority and outlays in all fiscal years resulting from this title as an emergency requirement pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).

(Sec. 102) Establishes an Air Transportation Stabilization Board to issue such Federal credit instruments. Sets forth certain Board and instrument requirements. Requires the Board to ensure that the Government is compensated for its risk in assuming guarantees. Authorizes the Board to enter into contracts under which the Government would participate in any equity gains of a participating corporation or its stockholders.

(Sec. 103) Limits the amount of compensation payable to an air carrier to the amount of its losses for a specified period following September 11, 2001.

(Sec. 104) Requires air carriers receiving Federal credit instruments to limit for two years to the same amount the total compensation (or, in the case of severance pay, double the compensation) of any officer or employee whose total compensation exceeded $300,000 in calendar 2000.

(Sec. 105) Urges the Secretary of Transportation to take appropriate action to ensure the continuation of scheduled air service to all communities, including essential air service to small communities. Authorizes appropriations.

(Sec. 106) Requires the President to report to specified congressional committees on the financial status of the air industry and the amounts of assistance provided under this title to each air carrier.

Title II: Aviation Insurance - Amends Federal transportation law to authorize the Secretary of Transportation to provide insurance and reinsurance against loss or damage arising out of any risk from the operation of an American aircraft or foreign-flag aircraft while in the United States (domestically) (effectively eliminating the Government from insuring or reinsuring such aircraft in international air transportation). Authorizes the Secretary to reimburse an air carrier for any increase in the costs of insurance since September 11, 2001. Sets forth certain insurance requirements, including limiting air carrier liability for losses to no more than $100 million in the aggregate for all claims arising as a result of an act of terrorism. Authorizes the Secretary to extend such insurance requirements to the vendors, agents, and subcontractors of air carriers.

Title III: Tax Provisions - Extends from November 15, 2001, until January 15, 2002, the deadline for an air carrier to make certain airline-related excise tax deposits otherwise due under the Internal Revenue Code between September 10 and November 15, 2001. Declares that nothing in this Act shall be construed to exclude from an air carrier's gross income compensation received under this Act.

Title IV: Victim Compensation - September 11th Victim Compensation Fund of 2001 - Establishes a compensation program, administered by the Attorney General through a Special Master, for any individual who was injured or killed as a result of the terrorist-related aircraft crashes of September 11, 2001. Authorizes appropriations. Sets forth certain program requirements, including restricting air carrier liability for compensatory or punitive damages arising from the terrorist attacks on September 11, 2001, to the limits of liability coverage maintained by the air carrier.

(Sec. 408) Provides a Federal cause of action for damages arising out of the hijacking and subsequent crashes of American Airlines flights 11 and 77, and United Airlines flights 93 and 175, on September 11, 2001. Declares such cause of action shall be the exclusive remedy for damages arising out of such incident.

Title V: Air Transportation Safety - Affirms the President's decision to spend $3 billion on airline safety and security.

(Sec. 502) Declares that Congress is committed to act expeditiously to strengthen airport security and take further measures to enhance the security of air travel.

Title VI: Separability - Declares if any provision of this Act is held invalid that the remainder of such Act shall not be affected.

Actions

Sep 22, 2001

Became Public Law No: 107-42.
Sep 22, 2001

Signed by President.
Sep 21, 2001

Presented to President.
Sep 21, 2001

Message on Senate action sent to the House.
Sep 21, 2001

Motion to reconsider laid on the table Agreed to without objection.
Sep 21, 2001

On passage Passed by the Yeas and Nays: 356 - 54, 2 Present (Roll no. 348). (The House passed H.R. 2926 on September 21. The Senate passed S.1450, a companion bill to H.R. 2926, on September 21. Unanimous consent agreements in the Senate provided for the House bill to be passed in the Senate if it was identical to the Senate bill. CR 9/21/2001 D917) (text as passed House : CR H5894-5897)
Sep 21, 2001

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 356 - 54, 2 Present (Roll no. 348).(The House passed H.R. 2926 on September 21. The Senate passed S.1450, a companion bill to H.R. 2926, on September 21. Unanimous consent agreements in the Senate provided for the House bill to be passed in the Senate if it was identical to the Senate bill. CR 9/21/2001 D917) (text as passed House : CR H5894-5897)
Sep 21, 2001

On motion to recommit with instructions Failed by the Yeas and Nays: 174 - 239 (Roll no. 347). (consideration: CR H5915-5518; text: CR H5915)
Sep 21, 2001

The previous question on the motion to recommit with instructions was ordered without objection.
Sep 21, 2001

DEBATE - The House proceeded with ten minutes of debate on the motion to recommit with instructions. The instructions contained in the motion require the Committee on Transportation and Infrastructure to report the bill back to the House with a new section 107 providing for a requirement to cover certain employee health insurance costs and, at the end of the bill, to add a new Title providing for screening of passengers and property to be conducted by the FAA.
Sep 21, 2001

Mr. DeFazio moved to recommit with instructions to Transportation.
Sep 21, 2001

The previous question was ordered pursuant to the rule.
Sep 21, 2001

DEBATE - The House proceeded with one hour of debate on H.R. 2926.
Sep 21, 2001

Rule provides for consideration of H.R. 2926 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit. Measure will be considered read. Bill is closed to amendments.
Sep 21, 2001

Considered under the provisions of rule H. Res. 244. (consideration: CR H5894-5918)
Sep 21, 2001

Rule H. Res. 244 passed House.
Sep 21, 2001

Received in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.
Sep 21, 2001

Passed/agreed to in Senate: Received in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.
Sep 21, 2001

Rules Committee Resolution H. Res. 244 Reported to House. Rule provides for consideration of H.R. 2926 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit. Measure will be considered read. Bill is closed to amendments.
Sep 21, 2001

Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on Ways and Means, the Judiciary, and the Budget, 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.
Sep 21, 2001

Introduced in House

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