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II
117TH CONGRESS
1ST SESSION
S. 242
To provide for an extension of temporary financing of short-time compensation
programs.
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.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Layoff Prevention Act
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of 2021’’.
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SEC. 2. EXTENSION OF TEMPORARY FINANCING OF SHORT-
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TIME COMPENSATION PAYMENTS IN STATES
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WITH PROGRAMS IN LAW.
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Section 2108(b)(2) of the CARES Act (15 U.S.C.
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9026(b)(2)) is amended by striking ‘‘March 14, 2021’’
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•S 242 IS
and inserting ‘‘the date that is 5 years and 6 months after
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the date of enactment of the Layoff Prevention Act of
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2021’’.
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SEC. 3. EXTENSION OF TEMPORARY FINANCING OF SHORT-
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TIME COMPENSATION AGREEMENTS.
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Section 2109(d)(2) of the CARES Act (15 U.S.C.
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9027(d)(2)) is amended by striking ‘‘March 14, 2021’’
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and inserting ‘‘the date that is 2 years and 13 weeks after
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the date of enactment of the Layoff Prevention Act of
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2021’’.
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SEC. 4. EXTENSION OF GRANTS FOR SHORT-TIME COM-
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PENSATION PROGRAMS.
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(a) EXTENSION; ADDITIONAL FUNDING.—Section
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2110 of the CARES Act (15 U.S.C. 9028) is amended—
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(1)
in
subsection
(b)(1),
by
striking
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‘‘$100,000,000’’ and inserting ‘‘$200,000,000’’;
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(2) in subsection (c)(1), by striking ‘‘December
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31, 2023’’ and inserting ‘‘December 31, 2026’’; and
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(3)
in
subsection
(g),
by
striking
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‘‘$100,000,000’’ and inserting ‘‘$200,000,000’’.
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(b) EFFECTIVE DATE.—The amendments made by
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subsection (a) shall take effect as if included in the enact-
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ment of the CARES Act (Public Law 116–136).
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