S. 4479 · 116th Congress
A bill to amend title 11, United States Code, to change the treatment of certain rental obligations during…
Full title
A bill to amend title 11, United States Code, to change the treatment of certain rental obligations during bankruptcy.
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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TillisSponsorNo cosponsors.
This bill temporarily revises bankruptcy provisions related to a lease of nonresidential real property.
What it does: CRS summary · Introduced in Senate · Aug 6, 2020
This bill temporarily revises bankruptcy provisions related to a lease of nonresidential real property. Specifically, if a Chapter 11 small business reorganization bankruptcy debtor is experiencing material financial hardship due to the COVID-19 (i.e., coronavirus disease 2019) pandemic, a court may extend the time the debtor may pay rent on a nonresidential real property from 60 days to 120 days. Additionally, businesses impacted by the COVID-19 pandemic have an additional 90 days to determine whether to keep or end a nonresidential lease agreement.
The bill also prohibits a bankruptcy trustee from voiding transfers of the debtor's interest due to the payment of certain rental and supplier arrearages.
These provisions have a two-year sunset.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend title 11, United States Code, to change the treatment of certain rental obligations during bankruptcy.
Latest action (Aug 6, 2020): Read twice and referred to the Committee on the Judiciary.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Aug 6, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.