Cliff,
You might want to read the NPRM. To keep E-R and other schools happy, they have proposed a "Restricted ATP" (the FAA's term.) They are up front that it will not meet ICAO ATP standards and they say it will not be valid for any operation that requires an ATP for PICs but it is an ATP and that's all Congress mandated. I would not call that a "full" ATP.
Also:
23. Add §121.436 to read as follows:
§121.436 Pilot Qualification: Certificates and experience requirements.
(a) No pilot may act as pilot in command of an aircraft unless he holds an airline transport
pilot certificate, an appropriate aircraft type rating for the aircraft being flown, and has
1,000 hours as second in command in part 121 operations, pilot in command in operations
under §91.1053(a)(2)(i) or §135.243(a)(1) of this chapter, or any combination thereof.
(b) No certificate holder may use nor may any pilot act as second in command unless the
pilot holds an airline transport pilot certificate and an appropriate aircraft type rating (my bold) for the aircraft being flown. A pilot type rating obtained under §61.55 does not satisfy (again, my bold) the requirements of this section.
(c) Compliance with the requirements of this section is required by August 1, 2013.