I posted this in APC... I don't see where it states that prospective 121 pilots will need an ATP or 1500. I see the 1500 hour requirement under subsection (b)(1) and an ATP requirement for all current 121 pilots within 3 years. Maybe I'm missing something here...
(A) PROSPECTIVE FLIGHT CREWMEMBERS- Rules issued under paragraph (1) shall ensure that prospective flight crewmembers undergo comprehensive preemployment screening, including an assessment of the skills, aptitudes, airmanship, and suitability of each applicant for a position as a flight crewmember in terms of functioning effectively in the air carrier's operational environment.
(B) ALL FLIGHT CREWMEMBERS- Rules issued under paragraph (1) shall ensure that, after the date that is 3 years after the date of enactment of this Act, all flight crewmembers--
(i) have obtained an airline transport pilot certificate under part 61 of title 14, Code of Federal Regulations; and
(ii) have appropriate multi-engine aircraft flight experience, as determined by the Administrator.
(b) Deadlines- The Administrator shall issue--
(1) not later than 180 days after the date of enactment of this Act, a notice of proposed rulemaking under subsection (a); and
(2) not later than 24 months after such date of enactment, a final rule under subsection (a).
(c) Default- The requirement that each flight crewmember for a part 121 air carrier hold an airline transport pilot certificate under part 61 of title 14, Code of Federal Regulations, shall begin to apply on the date that is 3 years after the date of enactment of this Act even if the Administrator fails to meet a deadline established under this section.