S. 242, Layoff Prevention Act of 2021
Summary
S. 242, the Layoff Prevention Act of 2021, is a Senate bill introduced February 4, 2021 by Reed to provide for an extension of temporary financing of short-time compensation programs. It was referred to the Committee on Finance. Section 2 amends section 2108(b)(2) of the CARES Act by striking March 14, 2021 and inserting the date that is 5 years and 6 months after the date of enactment. Section 3 amends section 2109(d)(2) with the date that is 2 years and 13 weeks after enactment, and Section 4 amends section 2110 to replace $100,000,000 with $200,000,000 and, in subsection (c)(1), to insert December 31, 2026.
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Cite this document
“S. 242, Layoff Prevention Act of 2021.”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/bills-bills-117s242is-bills-117s242is/
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II
117TH CONGRESS
1ST SESSION
S. 242
To provide for an extension of temporary financing of short-time compensation
programs.
IN THE SENATE OF THE UNITED STATES
FEBRUARY 4, 2021
Mr. REED introduced the following bill; which was read twice and referred to
the Committee on Finance
A BILL
To provide for an extension of temporary financing of short-
time compensation programs.
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 ‘‘Layoff Prevention Act
5 of 2021’’.
6 SEC. 2. EXTENSION OF TEMPORARY FINANCING OF SHORT-
7 TIME COMPENSATION PAYMENTS IN STATES
8 WITH PROGRAMS IN LAW.
pamtmann on DSKBC07HB2PROD with BILLS
9 Section 2108(b)(2) of the CARES Act (15 U.S.C.
10 9026(b)(2)) is amended by striking ‘‘March 14, 2021’’
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2
1 and inserting ‘‘the date that is 5 years and 6 months after
2 the date of enactment of the Layoff Prevention Act of
3 2021’’.
4 SEC. 3. EXTENSION OF TEMPORARY FINANCING OF SHORT-
5 TIME COMPENSATION AGREEMENTS.
6 Section 2109(d)(2) of the CARES Act (15 U.S.C.
7 9027(d)(2)) is amended by striking ‘‘March 14, 2021’’
8 and inserting ‘‘the date that is 2 years and 13 weeks after
9 the date of enactment of the Layoff Prevention Act of
10 2021’’.
11 SEC. 4. EXTENSION OF GRANTS FOR SHORT-TIME COM-
12 PENSATION PROGRAMS.
13 (a) EXTENSION; ADDITIONAL FUNDING.—Section
14 2110 of the CARES Act (15 U.S.C. 9028) is amended—
15 (1) in subsection (b)(1), by striking
16 ‘‘$100,000,000’’ and inserting ‘‘$200,000,000’’;
17 (2) in subsection (c)(1), by striking ‘‘December
18 31, 2023’’ and inserting ‘‘December 31, 2026’’; and
19 (3) in subsection (g), by striking
20 ‘‘$100,000,000’’ and inserting ‘‘$200,000,000’’.
21 (b) EFFECTIVE DATE.—The amendments made by
22 subsection (a) shall take effect as if included in the enact-
23 ment of the CARES Act (Public Law 116–136).
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