HOUSE 906 (115th Congress) — Furthering Asbestos Claim Transparency (FACT) Act of 2017

Actions

2017-02-24Placed on the Union Calendar, Calendar No. 6.
2017-02-24Reported by the Committee on Judiciary. H. Rept. 115-18.
2017-02-24Reported by the Committee on Judiciary. H. Rept. 115-18.
2017-02-15Ordered to be Reported by the Yeas and Nays: 19 - 11.
2017-02-15Committee Consideration and Mark-up Session Held.
2017-02-07Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
2017-02-07Referred to the House Committee on the Judiciary.
2017-02-07Introduced in House
2017-02-07Introduced in House

CRS Summary

As of 2017-02-24 (79)

(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.

Cosponsors (4)

ROBERT GOODLATTE (R-VA)
Tom Marino (R-PA)
LAMAR SMITH (R-TX)
PETE SESSIONS (R-TX)

Subjects

Bankruptcy
Civil actions and liability
Hazardous wastes and toxic substances