S. 1450 (107th): Air Transportation Safety and System Stabilization Act

Introduced:
Sep 21, 2001 (107th Congress, 2001–2002)
Status:
Died (Passed Senate)
See Instead:

H.R. 2926 (same title)
Signed by the President — Sep 22, 2001

Sponsor
Thomas “Tom” Daschle
Senator from South Dakota
Party
Democrat
Text
Read Text »
Last Updated
Sep 21, 2001
Length
31 pages
Related Bills
H.R. 2926 (identical)

Signed by the President
Sep 22, 2001

 
Status

This bill was introduced in a previous session of Congress and was passed by the Senate on September 21, 2001 but was never passed by the House.

Progress
Introduced Sep 21, 2001
Passed Senate Sep 21, 2001
 
Full Title

A bill to preserve the continued viability of the United States air transportation system.

Summary

No summaries available.

Votes
Sep 21, 2001 6:20 p.m.
Bill Passed 96/1

Cosponsors
1 cosponsors (1R) (show)
 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


9/21/2001--Passed Senate without amendment.
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).
Section 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.
Section 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.
Section 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.
Section 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.
Section 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.
Section 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.
Section 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.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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