15 U.S.C. § 9059 — Protection of collective bargaining agree-

Page 2543 TITLE 15—COMMERCE AND TRADE § 9059 Rico determined under this subsection with- out regard to this subparagraph to the ex- tent necessary to comply with the require- ments of subparagraph (A). (4) Territory set-aside Notwithstanding any other provision of this section, of the amounts appropriated under subsection (a), the Secretary shall reserve $30,000,000 to be disbursed to Guam, American Samoa, the United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands based on each such territory’s share of the combined total population of all such ter- ritories, as determined by the Secretary. For the purposes of this paragraph, population shall be determined based on the most recent year for which data are available from the United States Census Bureau. (5) Tribal set-aside The Secretary shall allocate funds to any el- igible entity designated under subsection (f) pursuant to the requirements of that sub- section. (e) Distribution of funds to States (1) In general The Secretary shall make payments, begin- ning not later than 45 days after March 11, 2021, from amounts allocated under subsection (d) to eligible entities that have notified the Secretary that they request to receive pay- ment from the Fund and that the eligible enti- ty will use such payments in compliance with this section. (2) If a State does not request allocated funds by the 45th day after March 11, 2021, such State shall not be eligible for a payment from the Secretary pursuant to this section, and the Secretary shall, by the 180th day after March 11, 2021, reallocate any funds that were not requested by such State among the States that have requested funds by the 45th day after March 11, 2021. For any such reallocation of funds, the Secretary shall adhere to the re- quirements of subsection (d), except for para- graph (1), to the greatest extent possible, pro- vided that the Secretary shall also take into consideration in determining such realloca- tion a State’s remaining need and a State’s record of using payments from the Fund to serve homeowners at disproportionate risk of mortgage default, foreclosure, or displace- ment, including homeowners having incomes equal to or less than 100 percent of the area median income for their household size or 100 percent of the median income for the United States, as determined by the Secretary of Housing and Urban Development, whichever is greater, and minority homeowners. (f) Tribal set-aside (1) Set-aside Notwithstanding any other provision of this section, of the amounts appropriated under subsection (a), the Secretary shall use 5 per- cent to make payments to entities that are el- igible for payments under clauses (i) and (ii) of section 9058a(b)(2)(A) of this title for the pur- poses described in subsection (c). (2) Allocation and payment The Secretary shall allocate the funds set aside under paragraph (1) using the allocation formulas described in clauses (i) and (ii) of sec- tion 9058a(b)(2)(A) of this title, and shall make payments of such amounts beginning no later than 45 days after March 11, 2021, to entities eligible for payment under clauses (i) and (ii) of section 9058a(b)(2)(A) of this title that no- tify the Secretary that they request to receive payments allocated from the Fund by the Sec- retary for purposes described under subsection (c) and will use such payments in compliance with this section. (3) Adjustment Allocations provided under this subsection may be further adjusted as provided by section 9058a(b)(2)(B) of this title. (Pub. L. 117–2, title III, § 3206, Mar. 11, 2021, 135 Stat. 63.) Editorial Notes CODIFICATION Section was enacted as part of the American Rescue Plan Act of 2021, and not as part of the CARES Act which in part comprises this chapter. § 9059. 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 a loan or loan guarantee under paragraph (1), (2), or (3) of sec- tion 9042(b) of this title on an air carrier’s or eli- gible business’s implementation of measures to enter into negotiations with the certified bar- gaining representative of a craft or class of em- ployees of the air carrier or eligible business under the Railway Labor Act (45 U.S.C. 151 et seq.) or the National Labor Relations Act (29 U.S.C. 151 et seq.), regarding pay or other terms and conditions of employment. (b) Period of effect With respect to an air carrier or eligible busi- ness to which the loan or loan guarantee is pro- vided under this part, this section shall be in ef- fect with respect to the air carrier or eligible business beginning on the date on which the air carrier or eligible business is first issued such loan or loan guarantee and ending on the date that is 1 year after the loan or loan guarantee is no longer outstanding. (Pub. L. 116–136, div. A, title IV, § 4025, Mar. 27, 2020, 134 Stat. 494.) Editorial Notes REFERENCES IN TEXT The Railway Labor Act, referred to in subsec. (a), is act May 20, 1926, ch. 347, 44 Stat. 577, which is classified principally to chapter 8 (§ 151 et seq.) of Title 45, Rail- roads. For complete classification of this Act to the Code, see section 151 of Title 45 and Tables. The National Labor Relations Act, referred to in sub- sec. (a), is act July 5, 1935, ch. 372, 49 Stat. 449, which is classified generally to subchapter II (§ 151 et seq.) of chapter 7 of Title 29, Labor. For complete classification Page 2544 TITLE 15—COMMERCE AND TRADE § 9060 of this Act to the Code, see section 167 of Title 29 and Tables. This part, referred to in subsec. (b), was in the origi- nal ‘‘this subtitle’’, meaning subtitle A (§§ 4001–4029) of title IV of div. A of Pub. L. 116–136, known as the Coronavirus Economic Stabilization Act of 2020, which is classified principally to this part. For complete clas- sification of subtitle A to the Code, see section 4001 of Pub. L. 116–136, set out as a Short Title note under sec- tion 9001 of this title, and Tables. § 9060. Reports (a) Disclosure of transactions Not later than 72 hours after any transaction by the Secretary under paragraph (1), (2), or (3) of section 9042(b) of this title, the Secretary shall publish on the website of the Department of the Treasury— (1) a plain-language description of the trans- action, including the date of application, date of application approval, and identity of the counterparty; (2) the amount of the loan or loan guarantee; (3) the interest rate, conditions, and any other material or financial terms associated with the transaction, if applicable; and (4) a copy of the relevant and final term sheet, if applicable, and contract or other rel- evant documentation regarding the trans- action. (b) Reports (1) To Congress (A) In general In addition to such reports as are required under section 5302(c) of title 31, not later than 7 days after the Secretary makes any loan or loan guarantee under paragraph (1), (2), or (3) of section 9042(b) of this title, the Secretary shall submit to the Chairmen and Ranking Members of the Committee on Banking, Housing, and Urban Affairs and the Committee on Finance of the Senate and the Chairmen and Ranking Members of the Com- mittee on Financial Services and the Com- mittee on Ways and Means of the House of Representatives a report summarizing— (i) an overview of actions taken by the Secretary under paragraph (1), (2) or (3) of section 9042(b) of this title during such pe- riod; (ii) the actual obligation, expenditure, and disbursements of the funds during such period; and (iii) a detailed financial statement with respect to the exercise of authority under paragraph (1), (2) or (3) of section 9042(b) of this title showing— (I) all loans and loan guarantees made, renewed, or restructured; (II) all transactions during such period, including the types of parties involved; (III) the nature of the assets pur- chased; (IV) a description of the vehicles estab- lished to exercise such authority; and (V) any or all repayment activity, de- linquencies or defaults on loans and loan guarantees issued under paragraph (1), (2) or (3) of section 9042(b) of this title. (B) Publication Not later than 7 days after the date on which the Secretary submits a report under subparagraph (A) to the committees of Con- gress described in such subparagraph, the Secretary shall publish such report on the website of the Department of the Treasury. (C) 30-day reports Every 30 days during such time as a loan or loan guarantee under paragraph (1), (2), or (3) of section 9042(b) of this title is out- standing, the Secretary shall publish on the website of the Department of the Treasury a report summarizing the information set forth in subparagraph (A). (2) Board of Governors (A) In general With respect to any program or facility de- scribed in paragraph (4) of section 9042(b) of this title, the Board of Governors of the Fed- eral Reserve System shall provide to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Rep- resentatives such reports as are required to be provided under section 343(3) of title 12— (i) not later than 7 days after the Board authorizes a new facility or other financial assistance in accordance with section 343(3)(C)(i) of title 12; and (ii) once every 30 days with respect to outstanding loans or financial assistance in accordance with section 343(3)(C)(ii) of title 12. (B) Publication Not later than 7 days after the Board of Governors of the Federal Reserve System submits a report under subparagraph (A) to the committees of Congress described in sub- paragraph (A), the Board shall publish on its website such report. (c) Testimony The Secretary and the Chairman of the Board of Governors of the Federal Reserve System shall testify, on a semiannual basis, before the Committee on Banking, Housing, and Urban Af- fairs of the Senate and the Committee on Finan- cial Services of the House of Representatives re- garding the obligations of the Department of the Treasury and the Federal Reserve System, and transactions entered into, under this Act. This subsection shall have no force or effect after De- cember 31, 2027. (d) Program descriptions The Secretary shall post on the website of the Department of the Treasury all criteria, guide- lines, eligibility requirements, and application materials for the making of any loan or loan guarantee under paragraph (1), (2), or (3) of sec- tion 9042(b) of this title. (e) Administrative contracts Not later than 24 hours after the Secretary en- ters into a contract in connection with the ad- ministration of any loan or loan guarantee au- thorized to be made under paragraph (1), (2), or (3) of section 9042(b) of this title, the Secretary shall post on the website of the Department of the Treasury a copy of the contract.