[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3347 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 3347

   To provide economic relief to general aviation entities that have 
   suffered substantial economic injury as a result of the terrorist 
  attacks perpetrated against the United States on September 11, 2001.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 27, 2001

Mr. Mica (for himself, Mr. Young of Alaska, and Mr. Shuster) introduced 
      the following bill; which was referred to the Committee on 
Transportation and Infrastructure, and in addition to the Committees on 
  Financial Services 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

_______________________________________________________________________

                                 A BILL


 
   To provide economic relief to general aviation entities that have 
   suffered substantial economic injury as a result of the terrorist 
  attacks perpetrated against the United States on September 11, 2001.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``General Aviation Industry 
Reparations Act of 2001''.

SEC. 2. GENERAL AVIATION INDUSTRY REPARATIONS.

    (a) In General.--Notwithstanding any other provision of law, the 
President shall take the following actions to compensate general 
aviation entities for losses incurred by such entities as a result of 
the terrorist attacks on the United States that occurred on September 
11, 2001:
            (1) Subject to such terms and conditions as the President 
        deems necessary, issue Federal credit instruments to such 
        entities that do not, in the aggregate, exceed $5,000,000,000 
        and provide the subsidy amounts necessary for such instruments 
        in accordance with the provisions of the Federal Credit Reform 
        Act of 1990 (2 U.S.C. 661 et seq.).
            (2) Compensate such entities in an aggregate amount equal 
        to $2,500,000,000 for--
                    (A) direct losses incurred beginning on September 
                11, 2001, by such entities as a result of any Federal 
                ground stop order issued by the Secretary of 
                Transportation or any subsequent order which continues 
                or renews such a stoppage; and
                    (B) the incremental losses incurred beginning 
                September 11, 2001, and ending December 31, 2001, by 
                such entities as a direct result of such attacks.
    (b) Emergency Designation.--Congress designates the amount of new 
budget authority and outlays in all fiscal years resulting from this 
Act as an emergency requirement pursuant to section 252(e) of the 
Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 
901(e)). Such amount shall be available only to the extent that a 
request, that includes designation of such amount as an emergency 
requirement as defined in such Act, is transmitted by the President to 
Congress.

SEC. 3. STABILIZATION BOARD.

    (a) Federal Credit Instruments.--The Air Transportation 
Stabilization Board, established under section 102(b) of the Air 
Transportation Safety System Stabilization Act (49 U.S.C. 40101 note; 
115 Stat. 231), in consultation with the Small Business Administration, 
may enter into agreements with 1 or more obligors to issue Federal 
credit instruments under section 2(a)(1) if the Board determines, in 
its discretion, that--
            (1) the obligor is a general aviation entity for which 
        credit is not reasonably available at the time of the 
        transaction; and
            (2) the intended obligation by the obligor is prudently 
        incurred.
    (b) Terms and Limitations.--
            (1) Forms; terms and conditions.--A Federal credit 
        instrument shall be issued under section 2(a)(1) in such form 
        and on such terms and conditions and contain such covenants, 
        representations, warranties, and requirements (including 
        requirements for audits) as the Board determines appropriate.
            (2) Procedures.--Not later than 14 days after the date of 
        enactment of this Act, the Director of the Office of Management 
        and Budget shall issue regulations setting forth procedures for 
        application and minimum requirements, which may be supplemented 
        by the Board in its discretion, for the issuance of Federal 
        credit instruments under section 2(a)(1).

SEC. 4. SPECIAL RULES FOR COMPENSATION.

    (a) Limitation on Amount of Compensation.--
            (1) Documentation.--Subject to subsection (b), the amount 
        of compensation payable under section 2(a)(2) to a general 
        aviation entity may not exceed the amount of losses described 
        in such section that such entity demonstrates to the 
        satisfaction of the President, using sworn financial statements 
        or other appropriate data, that such entity incurred.
            (2) Audits.--The Secretary of Transportation and the 
        Comptroller General of the United States may audit statements 
        referred to in paragraph (1) and may request any information 
        that the Secretary and the Comptroller General deem necessary 
        to conduct such audit.
    (b) Priority.--The President shall give priority for compensation 
to a general aviation entity--
            (1) based on the length of time that the entity has been 
        unable to operate as a result of the terrorist attacks on the 
        United States that occurred on September 11, 2001; and
            (2) if the entity is a small business concern (as defined 
        under section 3 of the Small Business Administration Act (15 
        U.S.C. 632(a))).
    (c) Payments.--The President may provide compensation under section 
2(a)(2) to general aviation entities in 1 or more payments up to the 
amount authorized by this Act.

SEC. 5. DOMESTIC INSURANCE AND REIMBURSEMENT OF INSURANCE COSTS.

    Section 44302 of title 49, United States Code, is amended--
            (1) in each of subsections (b), (c), and (d) by inserting 
        ``or general aviation entity (as defined in section 3 of the 
        General Aviation Industry Reparations Act of 2001)'' after 
        ``air carrier''; and
            (2) in subsection (b)(4) by inserting ``and general 
        aviation entities'' after ``air carriers''.

SEC. 6. DEFINITIONS.

    In this Act, the following definitions apply:
            (1) Federal credit instrument.--The term ``Federal credit 
        instrument'' means any guarantee or other pledge by the Air 
        Transportation Stabilization Board issued under section 2(a)(1) 
        of this Act to pledge the full faith and credit of the United 
        States to pay all or part of any of the principal of and 
        interest on a loan or other debt obligation issued by an 
        obligor and funded by a lender.
            (2) General aviation entity.--The term ``general aviation 
        entity'' means any person (other than an air carrier) that 
        operates nonmilitary aircraft or provides aviation services 
        directly related to nonmilitary aircraft or nonmilitary airport 
        operations or relies on direct or indirect access to United 
        States airspace under part 91 of title 14 of the Code of 
        Federal Regulations to conduct its primary business as 
        determined by the Secretary of Transportation. Such term 
        includes fixed based operators, flight schools, manufacturers 
        of general aviation products, and persons engaged in 
        nonscheduled commercial aviation enterprises.
            (3) Incremental loss.--The term ``incremental loss'' does 
        not include any loss that the President determines would have 
        been incurred if the terrorist attacks on the United States 
        that occurred on September 11, 2001, had not occurred.
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