S. 3545 · 112th Congress
Family Farmer Bankruptcy Tax Clarification Act of 2012
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GrassleySponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Family Farmer Bankruptcy Tax Clarification Act of 2012 - Amends chapter 12 (Debt Adjustment of a Family Farmer or Fisherman with Regular Annual Income) of federal bankruptcy law to revise the exclusion from the requirement of full payment under a discharged debtor's plan of any claim owed to a governmental unit arising as a result of the sale, transfer,…
What it does: CRS summary · Introduced in Senate · Sep 13, 2012
Family Farmer Bankruptcy Tax Clarification Act of 2012 - Amends chapter 12 (Debt Adjustment of a Family Farmer or Fisherman with Regular Annual Income) of federal bankruptcy law to revise the exclusion from the requirement of full payment under a discharged debtor's plan of any claim owed to a governmental unit arising as a result of the sale, transfer, exchange, or other disposition of a farm asset used in the debtor's farming operation (in which case the claim is treated as unsecured and not entitled to priority payment).
Requires the debtor's plan to provide for: (1) the treatment as a non-priority unsecured claim of any claim owed to a governmental unit by the debtor or the estate arising as a result of the sale, transfer, exchange, or other disposition of a farm asset; but also (2) the payment of that claim. Repeals the precondition that such treatment may be made only if the debtor receives a discharge in bankruptcy.
Authorizes a governmental unit to file postpetition claims relating to the disposition of farm assets.
Authorizes the trustee or the debtor, also, to file such postpetition claims (including a claim for a tax for which a return is due) if the governmental unit has not filed by a specified deadline.
Authorizes modification of the bankruptcy plan after its confirmation in order to provide for the payment of a non-priority unsecured claim presented by a governmental unit that arose after the petition filing date.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Family Farmer Bankruptcy Tax Clarification Act of 2012
Latest action (Sep 13, 2012): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6343)
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Sep 13, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.