Taxpayer Accountability for Airlines Relief Act

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. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Taxpayer Account- 4 ability for Airlines Relief Act’’. 5 VerDate Sep 11 2014 02:50 Apr 18, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H6479.IH H6479 kjohnson on DSK79L0C42PROD with BILLS 2 •HR 6479 IH SEC. 2. LIMITATION ON COMPENSATION TO AIR CARRIER 1 EXECUTIVES. 2 (a) IN GENERAL.—With respect to an air carrier re- 3 ceiving a Federal loan under the Coronavirus Aid, Relief, 4 and Economic Security Act, until such time as the air car- 5 rier repays all of such loan, the air carrier may only pay 6 compensation to an executive of the air carrier in an 7 amount equal to or less than the amount of salary paid 8 to the executive in 2019. 9 (b) DEFINITIONS.—In this section: 10 (1) AIR CARRIER.—The term ‘‘air carrier’’ has 11 the meaning such term has under section 40102 of 12 title 49, United States Code. 13 (2) EXECUTIVE.—With respect to an air car- 14 rier, the term ‘‘executive’’ means an employee of the 15 air carrier whose total compensation exceeded 16 $425,000 in calendar year 2019. For purposes of 17 this paragraph, for an employee hired after January 18 1, 2019, the annualized salary of such employee for 19 calendar year 2019 shall be used instead of the ac- 20 tual salary of the employee. 21 Æ VerDate Sep 11 2014 02:50 Apr 18, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H6479.IH H6479 kjohnson on DSK79L0C42PROD with BILLS