H.R. 906 · 115th Congress
Furthering Asbestos Claim Transparency (FACT) Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FarentholdSponsor4 cosponsors · 4 R
2 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 · Feb 24, 2017
(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 2017
(Sec. 2) This bill amends federal bankruptcy law to establish disclosure requirements with respect to a trust that is formed under a reorganization plan, following the discharge in bankruptcy of a debtor corporation, for the purpose of assuming the debtor's liability regarding certain legal claims related to liability for asbestos exposure.
Such a trust must file with the bankruptcy court quarterly reports, available on the public docket, that describe each demand the trust has received from a claimant and the basis for any payment made to that claimant. These reports shall not include any confidential medical record or the claimant's full Social Security number.
Upon written request, and subject to payment for reasonable costs, a trust must provide information related to payment from, and demands for payment from, the trust to any party to an action 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 2017
Latest action (Feb 24, 2017): Placed on the Union Calendar, Calendar No. 6.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 7, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.