[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4547 Introduced in House (IH)]







105th CONGRESS
  2d Session
                                H. R. 4547

 To amend title 49, United States Code, to limit sales of air carrier 
                             certificates.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 10, 1998

 Mr. Oberstar introduced the following bill; which was referred to the 
             Committee on Transportation and Infrastructure

_______________________________________________________________________

                                 A BILL


 
 To amend title 49, United States Code, to limit sales of air carrier 
                             certificates.

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

SECTION 1. TRANSFERS OF AIR CARRIER CERTIFICATES.

    (a) In General.--Section 41105 of title 49, United States Code, is 
amended by adding at the end the following:
    ``(c) Sales of Certificates.--The Secretary may approve the 
transfer of a certificate under subsection (a) only if the Secretary 
determines--
            ``(1) in a case in which the holder of the certificate paid 
        financial or other consideration for the certificate, that the 
        holder will not receive in exchange for the certificate any 
        financial or other consideration that exceeds the financial or 
        other consideration so paid; and
            ``(2) in a case in which the holder of the certificate did 
        not pay any financial or other consideration for the 
        certificate, that the holder will not receive in exchange for 
        the certificate any financial or other consideration.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to certificates transferred after the date of enactment of this 
Act.
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