II
117th CONGRESS
1st Session
S. 242
IN THE SENATE OF THE UNITED STATES
February 4, 2021
Mr. Reed introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To provide for an extension of temporary financing of short-time compensation programs.
Short title
This Act may be cited as the Layoff Prevention Act of 2021
.
Extension of temporary financing of short-time compensation payments in States with programs in law
Section 2108(b)(2) of the CARES Act (15 U.S.C. 9026(b)(2)) is amended by striking March 14, 2021
and inserting the date that is 5 years and 6 months after the date of enactment of the Layoff Prevention Act of 2021
.
Extension of temporary financing of short-time compensation agreements
Section 2109(d)(2) of the CARES Act (15 U.S.C. 9027(d)(2)) is amended by striking March 14, 2021
and inserting the date that is 2 years and 13 weeks after the date of enactment of the Layoff Prevention Act of 2021
.
Extension of grants for short-time compensation programs
Extension; additional funding
Section 2110 of the CARES Act (15 U.S.C. 9028) is amended—
in subsection (b)(1), by striking $100,000,000
and inserting $200,000,000
;
in subsection (c)(1), by striking December 31, 2023
and inserting December 31, 2026
; and
in subsection (g), by striking $100,000,000
and inserting $200,000,000
.
Effective date
The amendments made by subsection (a) shall take effect as if included in the enactment of the CARES Act (Public Law 116–136).