The "Flight Delay and Cancellation Compensation Act" requires the Department of Transportation (DOT) to mandate airlines provide cash compensation, free rebooking, and reimbursement for amenities to passengers for significant flight disruptions or cancellations directly attributable to the carrier. It establishes an Aviation Rulemaking Committee (ARC) within 90 days, comprising stakeholders from airlines, consumer groups, and government, to develop comprehensive recommendations for these requirements. The ARC's recommendations, due within 12 months, will address specific cash compensation amounts (e.g., $300 for 3-6 hour delays, $600 for 6+ hour delays), free rebooking, and reimbursement for amenities like meals, lodging, and transportation, alongside processes for determining airline attribution and ensuring clear, simple, and prompt compensation, aligning with international standards. Following the ARC's report, the DOT Secretary must issue a Notice of Proposed Rulemaking (NPRM) within 90 days. Furthermore, within 18 months of enactment, an interim final rule is mandated. This interim rule will require airlines, for attributable disruptions, to provide $750 in cash compensation, free rebooking at no additional cost, and a meal or meal credit. For overnight cancellations or significant delays, the interim rule additionally mandates complimentary hotel accommodations or reimbursement for lodging, plus ground transportation. This interim rule will be effective two years after enactment and remain in force until a final rule is established, with the Secretary providing regular status reports to Congress.