S.Amdt. 1338

SA 1338. Mr. TOOMEY submitted an amendment intended to be proposed to
amendment SA 891 proposed by Mr. Schumer (for himself, Mr. Wyden, Mrs.
Murray, Mr. Brown, Mr. Peters, Mr. Cardin, Ms. Cantwell, Ms. Stabenow,
Mr. Tester, Mr. Menendez, Mr. Schatz, Mr. Carper, Mr. Leahy, and Mr.
Sanders) to the bill H.R. 1319, to provide for reconciliation pursuant
to title II of S. Con. Res. 5; which was ordered to lie on the table;
as follows:

Beginning on page 258, strike line 17, and all that follows
through page 264, line 10, and insert the following:
(4) the term ``eligible air carrier'' means an air carrier
that--
(A) received financial assistance pursuant section
402(a)(1) of division N of the Consolidated Appropriations
Act, 2021 (Public Law 116-260);
(B) provides air transportation as of March 31, 2021;
(C) has not conducted involuntary furloughs or reduced pay
rates or benefits between March 31, 2021, and the date on
which the air carrier makes a certification to the Secretary
pursuant to subparagraph (D) (except as necessary to comply
with subparagraph (D)(iv)); and
(D) certifies to the Secretary that such air carrier will--
(i) refrain from conducting involuntary furloughs or
reducing pay rates or benefits until September 30, 2021, or
the date on which assistance provided under this section is
exhausted, whichever is later (except as necessary to comply
with clause (iv));
(ii) refrain from purchasing an equity security of the air
carrier or the parent company of the air carrier that is
listed on a national securities exchange through September
30, 2022;
(iii) refrain from paying dividends, or making other
capital distributions, with respect to common stock (or
equivalent interest) of such air carrier through September
30, 2022;
(iv) during the 2-year period beginning April 1, 2021, and
ending April 1, 2023, refrain from paying--

[[Page S1373]]

(I) any officer or employee of the air carrier whose total
compensation exceeded $425,000 in calendar year 2019--

(aa) total compensation that exceeds, during any 12
consecutive months of such 2-year period, the total
compensation received by the officer or employee from the air
carrier in calendar year 2019; or
(bb) severance pay or other benefits upon termination of
employment with the air carrier which exceeds twice the
maximum total compensation received by the officer or
employee from the air carrier in calendar year 2019; and

(II) any officer or employee of the air carrier whose total
compensation exceeded $3,000,000 in calendar year 2019 during
any 12 consecutive months of such period total compensation
in excess of the sum of--

(aa) $3,000,000; and
(bb) 50 percent of the excess over $3,000,000 of the total
compensation received by the officer or employee from the air
carrier in calendar year 2019.
(5) the term ``eligible contractor'' means a contractor
that--
(A) received financial assistance pursuant to section
402(a)(2) of division N of the Consolidated Appropriations
Act, 2021 (Public Law 116-260);
(B) performs one or more of the functions described under
paragraph (2) as of March 31, 2021;
(C) has not conducted involuntary furloughs or reduced pay
rates or benefits between March 31, 2021, and the date on
which the contractor makes a certification to the Secretary
pursuant to subparagraph (D) (except as necessary to comply
with subparagraph (D)(iv)); and
(D) certifies to the Secretary that such contractor will--
(i) refrain from conducting involuntary furloughs or
reducing pay rates or benefits until September 30, 2021, or
the date on which assistance provided under this section is
exhausted, whichever is later (except as necessary to comply
with clause (iv));
(ii) refrain from purchasing an equity security of the
contractor or the parent company of the contractor that is
listed on a national securities exchange through September
30, 2022;
(iii) refrain from paying dividends, or making other
capital distributions, with respect to common stock (or
equivalent interest) of the contractor through September 30,
2022;
(iv) during the 2-year period beginning April 1, 2021, and
ending April 1, 2023, refrain from paying--

(I) any officer or employee of the contractor whose total
compensation exceeded $425,000 in calendar year 2019--

(aa) total compensation that exceeds, during any 12
consecutive months of such 2-year period, the total
compensation received by the officer or employee from the
contractor in calendar year 2019; or
(bb) severance pay or other benefits upon termination of
employment with the contractor which exceeds twice the
maximum total compensation received by the officer or
employee from the contractor in calendar year 2019; and

(II) any officer or employee of the contractor whose total
compensation exceeded $3,000,000 in calendar year 2019 during
any 12 consecutive months of such period total compensation
in excess of the sum of--

(aa) $3,000,000; and
(bb) 50 percent of the excess over $3,000,000 of the total
compensation received by the officer or employee from the
contractor in calendar year 2019.
______