H.R. 6479, Taxpayer Accountability for Airlines Relief Act
Summary
H.R. 6479, the Taxpayer Accountability for Airlines Relief Act, was introduced in the House of Representatives on April 10, 2020 by Burchett and referred to the Committee on Transportation and Infrastructure. The bill would require air carriers receiving Federal loans under the Coronavirus Aid, Relief, and Economic Security Act to limit compensation paid to each executive to the amount of that executive's 2019 salary until the loans are repaid. Section 2 defines an executive as an employee whose total compensation exceeded $425,000 in calendar year 2019. The bill would apply the limit until such time as the air carrier repays all of the loan.
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“H.R. 6479, Taxpayer Accountability for Airlines Relief Act.”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/bills-bills-116hr6479ih-bills-116hr6479ih/
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I
116TH CONGRESS
2D SESSION
H. R. 6479
To require air carriers receiving Federal loans under the Coronavirus Aid,
Relief, and Economic Security Act to limit compensation paid to each
executive to the amount of such executive’s 2019 salary until such
loans are repaid, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
APRIL 10, 2020
Mr. BURCHETT introduced the following bill; which was referred to the
Committee on Transportation and Infrastructure
A BILL
To require air carriers receiving Federal loans under the
Coronavirus Aid, Relief, and Economic Security Act to
limit compensation paid to each executive to the amount
of such executive’s 2019 salary until such loans are
repaid, and for other purposes.
1 Be it enacted by the Senate and House of Representa-
2 tives of the United States of America in Congress assembled,
3 SECTION 1. SHORT TITLE.
4 This Act may be cited as the ‘‘Taxpayer Account-
5 ability for Airlines Relief Act’’.
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1 SEC. 2. LIMITATION ON COMPENSATION TO AIR CARRIER
2 EXECUTIVES.
3 (a) IN GENERAL.—With respect to an air carrier re-
4 ceiving a Federal loan under the Coronavirus Aid, Relief,
5 and Economic Security Act, until such time as the air car-
6 rier repays all of such loan, the air carrier may only pay
7 compensation to an executive of the air carrier in an
8 amount equal to or less than the amount of salary paid
9 to the executive in 2019.
10 (b) DEFINITIONS.—In this section:
11 (1) AIR CARRIER.—The term ‘‘air carrier’’ has
12 the meaning such term has under section 40102 of
13 title 49, United States Code.
14 (2) EXECUTIVE.—With respect to an air car-
15 rier, the term ‘‘executive’’ means an employee of the
16 air carrier whose total compensation exceeded
17 $425,000 in calendar year 2019. For purposes of
18 this paragraph, for an employee hired after January
19 1, 2019, the annualized salary of such employee for
20 calendar year 2019 shall be used instead of the ac-
21 tual salary of the employee.
Æ
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