15 U.S.C. § 9074 — Required assurances

Page 2548 TITLE 15—COMMERCE AND TRADE § 9074 paragraph of section 9072 of this title in order to address any shortfall in assistance that would otherwise be provided under such section. (d) Audits The Inspector General of the Department of the Treasury shall audit certifications made under subsection (a). (Pub. L. 116–136, div. A, title IV, § 4113, Mar. 27, 2020, 134 Stat. 498.) § 9074. Required assurances (a) In general To be eligible for financial assistance under this part, an air carrier or contractor shall enter into an agreement with the Secretary, or other- wise certify in such form and manner as the Sec- retary shall prescribe, that the air carrier or contractor shall— (1) refrain from conducting involuntary fur- loughs or reducing pay rates and benefits until September 30, 2020; (2) through September 30, 2021, ensure that neither the air carrier or contractor nor any affiliate of the air carrier or contractor may, in any transaction, purchase an equity secu- rity of the air carrier or contractor or the par- ent company of the air carrier or contractor that is listed on a national securities ex- change; (3) through September 30, 2021, ensure that the air carrier or contractor shall not pay dividends, or make other capital distributions, with respect to the common stock (or equiva- lent interest) of the air carrier or contractor; and (4) meet the requirements of sections 9075 and 9076 of this title. (b) Department of Transportation Authority to condition assistance on continuation of serv- ice (1) In general The Secretary of Transportation is author- ized to require, to the extent reasonable and practicable, an air carrier provided financial assistance under this part to maintain sched- uled air transportation service, as the Sec- retary of Transportation deems necessary, to ensure services to any point served by that carrier before March 1, 2020. (2) Required considerations When considering whether to exercise the authority provided by this section, the Sec- retary of Transportation shall take into con- sideration the air transportation needs of small and remote communities and the need to maintain well-functioning health care sup- ply chains, including medical devices and sup- plies, and pharmaceutical supply chains. (3) Sunset The authority provided under this sub- section shall terminate on March 1, 2022, and any requirements issued by the Secretary of Transportation under this subsection shall cease to apply after that date. (c) Continued application (1) In general If, after December 27, 2020, a contractor ex- pends any funds made available pursuant to section 9072 of this title and distributed pursu- ant to section 9073 of this title, the assurances in paragraphs (1) through (3) of subsection (a) shall continue to apply until the dates in- cluded in such paragraphs, or the date on which the contractor fully expends such finan- cial assistance, whichever is later. (2) Special rule Not later than April 5, 2021, each contractor described in section 9071(3)(A)(i) of this title that has received funds pursuant to such sec- tion 9072 of this title shall report to the Sec- retary on the amount of such funds that the contractor has expended through March 31, 2021. If the contractor has expended an amount that is less than 100 percent of the total amount of funds the contractor received under such section, the Secretary shall initiate an action to recover any funds that remain unex- pended as of April 30, 2021. (d) Recall of employees (1) In general Subject to paragraph (2), any contractor that has unspent financial assistance provided under this part as of December 27, 2020, and conducted involuntary furloughs or reduced pay rates and benefits, between March 27, 2020, and the date on which the contractor entered into an agreement with the Secretary related to financial assistance under this part, shall recall (as defined in section 9071 of this title) employees who were involuntarily furloughed during such period by not later than January 4, 2021. (2) Waiver The Secretary of the Treasury shall waive the requirement under paragraph (1) for a con- tractor to recall employees if the contractor certifies that the contractor has or will have insufficient remaining financial assistance provided under this part to keep recalled em- ployees employed for more than two weeks upon returning to work. (3) Audits The Inspector General of the Department of the Treasury shall audit certifications made under paragraph (2). (Pub. L. 116–136, div. A, title IV, § 4114, Mar. 27, 2020, 134 Stat. 499; Pub. L. 116–260, div. N, title IV, § 412(a), Dec. 27, 2020, 134 Stat. 2060.) Editorial Notes AMENDMENTS 2020—Subsecs. (c), (d). Pub. L. 116–260 added subsecs. (c) and (d). § 9075. Protection of collective bargaining agree- ment (a) In general Neither the Secretary, nor any other actor, de- partment, or agency of the Federal Government, shall condition the issuance of financial assist- ance under this part on an air carrier’s or con- tractor’s implementation of measures to enter into negotiations with the certified bargaining representative of a craft or class of employees of