Aviation Manufacturing Jobs Protection Act of 2021  This bill makes available payroll assistance to eligible aviation employers impacted by the COVID-19 (i.e., coronavirus disease 2019) public health emergency. Specifically, aviation employers demonstrating at least a 15% decline in revenues and economic conditions that justify assistance may enter an agreement with the Secretary of the Treasury to receive up to 50% of the amount of total compensation for the 25% of its workforces most at risk of permanent reduction or furlough, excluding senior executive and highly-compensated employees.  Assistance under this program is available through April 30, 2023, and Treasury must establish an application process and minimum eligibility requirements for participation in the program not later than 10 days after the enactment of this bill.
To establish a program to preserve and restore jobs in the aviation 
            manufacturing industry, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Aviation Manufacturing Jobs 
Protection Act of 2021''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) At-risk employee group.--The term ``at-risk employee 
        group''--
                    (A) means the 25 percent of an employer's United 
                States workforce comprised of employees--
                            (i) who are most at risk of a permanent 
                        reduction in force or furlough due to the 
                        COVID-19 public health emergency; or
                            (ii) who--
                                    (I) were previously part of a 
                                reduction in force or furlough due to 
                                the COVID-19 public health emergency; 
                                and
                                    (II) the employer would choose to 
                                recall under the program established by 
                                this section; but
                    (B) does not include--
                            (i) senior executive employees; or
                            (ii) any employee with a total compensation 
                        level of $200,000 or more.
            (2) Aviation employer.--The term ``aviation employer'' 
        means an aviation manufacturing company.
            (3) Aviation manufacturing company.--The term ``aviation 
        manufacturing company'' means a corporation, firm, or other 
        business entity that--
                    (A) holds a type or production certificate or 
                similar authorization issued under section 44704 of 
                title 49, United States Code;
                    (B) holds a certificate issued under part 145 of 
                title 14, Code of Federal Regulations, for maintenance, 
                repair, and overhaul of aircraft, aircraft engines, 
                components, or propellers; or
                    (C) under contract or subcontract, produces 
                components, parts, or systems of aircraft, aircraft 
                engines, or appliances for inclusion in an aircraft, 
                aircraft engine, or appliance.
            (4) COVID-19 public health emergency.--The term ``COVID-19 
        public health emergency'' means the public health emergency 
        with respect to the 2019 Novel Coronavirus.
            (5) Senior executive employee.--The term ``senior executive 
        employee'' means a chief executive officer, chief operating 
        officer, or chief financial officer.
            (6) Total compensation level.--The term ``total 
        compensation level'' means salary, bonuses, awards of stock, 
        and other financial benefits of an employee, excluding overtime 
        and premium pay, as of April 1, 2020.

SEC. 3. PAYROLL SUPPORT EXTENSION PROGRAM.

    (a) In General.--The Secretary of Transportation, in coordination 
with other appropriate Federal departments or agencies, shall establish 
a payroll support extension program to enter into agreements with 
aviation employers to provide a 50 percent share for the compensation, 
benefits, and training of at-risk employee groups financially impacted 
by the COVID-19 public health emergency.
    (b) Procedures.--Not later than 10 days after the date of enactment 
of this Act, the Secretary shall establish, and make available to the 
public, procedures for application and minimum eligibility requirements 
for participation in the program established under subsection (a).
    (c) Compensation Contributions.--Under the program established 
under this section, the Secretary may enter into agreements to provide 
a 50 percent contribution to ensure the total compensation level of the 
at-risk employee group of an aviation employer for any period beginning 
on or after April 1, 2020, and ending not later than April 30, 2023.
    (d) Eligibility.--The Secretary may enter into an agreement with an 
aviation employer under this section if the Secretary determines that--
            (1) the aviation employer has experienced at least a 15 
        percent decline in revenues between October 1, 2019, and 
        October 1, 2020;
            (2) the aviation employer has an identifiable at-risk 
        employee group;
            (3) the aviation employer agrees to provide the non-Federal 
        share of the agreement under this section;
            (4) the aviation employer provides a written justification 
        for the need for assistance, including the size of the at-risk 
        employee group and a description of the economic conditions of 
        the company that make Federal assistance necessary under this 
        section; and
            (5) receipt of assistance under this section will reduce 
        the likelihood of a permanent reduction in force or furlough, 
        or facilitate the retention or recall, of the at-risk employee 
        group of the aviation employer.
    (e) Requirements.--An agreement entered into under this section 
shall require that--
            (1) the aviation employer may not carry out any permanent 
        reduction in force or furlough of employees in the at-risk 
        employee group for the duration of the agreement, subject to 
        the aviation employer's right to discipline or terminate an 
        employee in accordance with policies of the aviation employer;
            (2) assistance provided under this section may not be used 
        for stock buybacks or to pay out dividends;
            (3) assistance provided under this section shall be used 
        solely for the purpose of providing compensation, benefits, and 
        training of the at-risk employee group;
            (4) the aviation employer may not--
                    (A) circumvent or abrogate a collective bargaining 
                agreement, including any training provided for in such 
                agreement; or
                    (B) move jobs assisted by this program out of the 
                United States;
            (5) the aviation employer may only provide compensation, 
        benefits, and training to United States-based employees; and
            (6) restore the rights and protections for returning 
        employees as if such employees had not been involuntarily 
        furloughed.
    (f) Duration of Agreement.--An agreement entered into under this 
section shall be for a period not to exceed 6 months, and may be 
renewed for a period of 2 years, at the discretion of the Secretary, so 
long as the Secretary recertifies such agreement every 6 months.
    (g) Federal Share.--The Federal share of assistance provided to an 
aviation employer under an agreement entered into pursuant to this 
section shall not exceed 50 percent.
    (h) Multiple Agreements.--The Secretary may enter into multiple 
agreements with an aviation employer under this section, except that 
the total assistance shall not exceed beyond the applicable at-risk 
employee group.
    (i) Coordination With Employee Retention Credit.--The Secretary 
shall not enter into any agreement under this section with an employer 
who was allowed a credit under section 2301 of the CARES Act for any 
calendar quarter ending before such agreement is entered into and such 
section 2301 shall not apply to any employer who enters into any 
agreement under this section.
    (j) Report.--An aviation employer entering into an agreement under 
this section shall submit to Congress, after submission to the 
Secretary for review, on the implementation and allocation of funds 
provided pursuant to this section.
    (k) Tax Treatment.--For purposes of the Internal Revenue Code of 
1986, any public partner contribution provided by the Secretary under 
this section which is received by any employee shall be included in the 
gross income of such employee and no deduction shall be allowed under 
such Code to the employer with respect to any such contribution.
    (l) Termination.--
            (1) Sunset.--The authority established by this Act shall 
        end on April 30, 2023.
            (2) Agreement duration.--No agreement may be entered into 
        under this section that provides for assistance after April 30, 
        2023.
    (m) Authorization of Appropriations.--There is authorized to be 
appropriated $15,000,000,000 to carry out this Act.
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Aviation Manufacturing Jobs Protection Act of 2021
To establish a program to preserve and restore jobs in the aviation manufacturing industry, and for other purposes.
Aviation Manufacturing Jobs Protection Act of 2021
Rep. Larsen, Rick