This bill requires airlines to provide cash refunds to passengers when flights are cancelled, significantly delayed, or substantially changed, if the passenger requests one instead of accepting rebooking or vouchers. Airlines must issue refunds within 7 business days for credit card purchases and 20 days for cash purchases, and they cannot impose expiration dates on any vouchers or credits offered as alternatives. The legislation also requires airlines to allow passengers who cancel their tickets at least 48 hours before departure to receive a full cash refund within 30 days and mandates that airlines clearly inform customers of these refund rights before purchase. The rules apply to major U.S. carriers with annual operating revenue exceeding $1.5 billion and all foreign airlines operating flights to or from the United States, with the revenue threshold adjusted annually for inflation starting in 2028. Airlines that violate these requirements face civil penalties under existing transportation law, and the Department of Transportation has one year to issue additional rules applying these protections to ticket agents.