H.R. 526 · 114th Congress
Furthering Asbestos Claim Transparency (FACT) Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FarentholdSponsor3 cosponsors · 3 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
What it does: CRS summary · Reported to House without amendment · Nov 30, 2015
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Furthering Asbestos Claim Transparency (FACT) Act of 2015
(Sec. 2) This bill amends federal bankruptcy law concerning a trust formed under a reorganization plan following the discharge in bankruptcy of a debtor corporation in order to assume the debtor's liability with respect to claims seeking recovery for personal injury, wrongful death, or property damage allegedly caused by the presence of, or exposure to, asbestos or asbestos-containing products.
Such a trust shall file with the bankruptcy court quarterly reports, available on the public docket, which describe each demand the trust has received from a claimant and the basis for any payment made to that claimant (excluding any confidential medical record or the claimant's full Social Security number).
Such reports, upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by it, shall provide any information related to payment from, and demands for payment from, the trust to any party to any action in law or equity concerning liability for asbestos exposure.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Furthering Asbestos Claim Transparency (FACT) Act of 2015
Latest action (Nov 30, 2015): Placed on the Union Calendar, Calendar No. 271.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jan 26, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.