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AVIATION
AND SPACE LAW COMMITTEE
Related Legislation
Summaries
HR2926 - Air Transportation
Safety and System Stabilization Act
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Summary (10.09.2001)
Air Transportation Safety and System Stabilization Act - Directs
the President to take certain actions to compensate air carriers
for losses incurred by them as a result of the terrorist attacks
on the United States on September 11, 2001, including to: (1)
issue Federal credit instruments (including subsidy amounts
for such instruments) to such air carriers; and (2) compensate
them for direct losses incurred as a result of any Federal ground
stop order issued by the Government and any incremental losses
incurred as a direct result of such attacks.
Establishes an Air Transportation Stabilization Board to issue
such Federal credit instruments.
Urges the Secretary of Transportation to take appropriate action
to ensure the continuation of scheduled air service to all communities,
including essential air service to small communities.
Authorizes the Secretary of Transportation to provide insurance
and reinsurance against loss or damage arising out of any risk
from the operation of an American aircraft or foreign-flag aircraft
while in the United States (domestically) (effectively eliminating
the Government from insuring or reinsuring such aircraft in
international air transportation). Sets forth certain insurance
requirements, including limiting air carrier liability for losses
incurred as a result of acts of terrorism.
Extends the period of time that an air carrier must make certain
airline-related excise tax deposits under the Internal Revenue
Code. Declares that nothing in this Act shall be construed to
exclude from an air carrier's gross income compensation received
under this Act.
September 11th Victim Compensation Fund of 2001 - Establishes
a compensation program for any individual who was injured or
killed as a result of the terrorist-related aircraft crashes
of September 11, 2001. Sets forth certain program requirements.
Affirms the President's decision to spend $3
billion on airline safety and security.
Questions/Comments/Feedback
-please contact-
Robert J. Gross
robert.gross@usdoj.gov
Last Modified on
Monday, June 13, 2005 3:41 PM
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