1. Short title
This Act may be cited as the “Returning Inappropriate Cash Handouts Act” or the “RICH Act”.
Returning Inappropriate Cash Handouts Act
A BILL
To prohibit payment of Pandemic Unemployment Assistance and Federal Pandemic Unemployment Compensation to millionaires.
2. Prohibiting payment of Pandemic Unemployment Assistance and Federal Pandemic Unemployment Compensation to millionaires
Pandemic Unemployment Assistance— Section 2102 of the Relief for Workers Affected by Coronavirus Act (contained in subtitle A of title II of division A of the CARES Act (Public Law 116–136)) is amended—
in subsection (a)(3)(B)—
in clause (i), by striking “or” at the end;
in clause (ii), by striking the period at the end and inserting “; or”; and
by adding at the end the following new clause:
“(iii) an individual whose adjusted gross income is equal to or greater than $1,000,000.”
by adding at the end the following new subsection:
“(i) Prohibition on assistance to millionaires
“(1) Compliance—Any application for assistance authorized under subsection (b) shall include a form or procedure for an individual applicant to certify that such individual is not prohibited from receiving such assistance pursuant to subsection (a)(3)(B)(iii).
“(2) Audits—The certifications required by paragraph (1) shall be auditable by the Department of Labor or the Government Accountability Office.”
Federal Pandemic Unemployment Compensation— Section 2104(b) of the Relief for Workers Affected by Coronavirus Act (contained in subtitle A of title II of division A of the CARES Act (Public Law 116–136)) is amended by adding at the end the following new paragraph:
“(3) Prohibition on compensation to millionaires
“(A) In general—Federal Pandemic Unemployment Compensation shall not be payable to any individual whose adjusted gross income is equal to or greater than $1,000,000.
“(B) Compliance—Any application for regular compensation shall include a form or procedure for an individual applicant to certify that such individual is not prohibited from receiving Federal Pandemic Unemployment Compensation pursuant to subparagraph (A).
“(C) Audits—The certifications required by subparagraph (B) shall be auditable by the Department of Labor or the Government Accountability Office.”
Rule of construction— Nothing in this Act, or any amendment made by this Act, may be construed to apply to regular compensation or extended compensation (as such terms are defined by section 205 of the Federal-State Extended Unemployment Compensation Act (26 U.S.C. 3304 note)) to which an individual may be otherwise entitled.
Effective date— The amendments made by this section shall apply to weeks of unemployment beginning on or after the date of the enactment of this Act.