S. 1253 · 111th Congress
Automobile Dealers Assistance Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
CorkerSponsor14 cosponsors · 6 D, 8 R
R
Isakson
BN
D
Nelson
OS
R
Snowe
JS
D
Shaheen
RW
R
Wicker
CG
R
Grassley
MM
R
McConnell
BN
D
Nelson
MU
D
Udall
SB
R
Brownback
TC
R
Cochran
BM
D
Menendez
RB
R
Burr
BL
D
Lincoln5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Automobile Dealers Assistance Act of 2009 - Conditions the provision of federal funds to automobile manufacturers or distributors in connection with a bankruptcy proceeding on their use of such funds to fully reimburse their dealers for certain costs the dealers incurred over the nine months preceding the commencement of such bankruptcy.
What it does: CRS summary · Introduced in Senate · Jun 11, 2009
Automobile Dealers Assistance Act of 2009 - Conditions the provision of federal funds to automobile manufacturers or distributors in connection with a bankruptcy proceeding on their use of such funds to fully reimburse their dealers for certain costs the dealers incurred over the nine months preceding the commencement of such bankruptcy.
Counts as reimbursable costs over that period: (1) the costs of acquiring all parts and inventory in the dealer's possession on the same basis as if the dealer were terminating pursuant to an existing franchise or dealer agreement; and (2) all other obligations owed by the automobile manufacturer or its distributor pursuant to an agreement with the dealer.
Requires such dealer reimbursement terms to be included in the wording of agreements between such manufacturers or their distributors and the federal government, and in the terms of credit agreements approved by bankruptcy courts.
Prohibits the rejection of franchise or dealer agreements by automobile manufacturers or their distributors that are debtors in a bankruptcy proceeding from becoming effective until at least 180 days after approval by a bankruptcy court.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Automobile Dealers Assistance Act of 2009
Latest action (Jun 11, 2009): Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S6560)
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jun 11, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.