Taxpayer Recovery Act of 1990 - Amends the Federal bankruptcy code to exempt from a bankruptcy discharge: (1) a criminal restitution order issued against a person who has caused loss to a financial institution; (2) an order for damages arising from fraud or reckless disregard for the law involving a financial institution; and (3) judgments obtained by the FDIC against officers and directors for breach of fiduciary duty.
Extends from 60 to 120 days the time during which an objection to a discharge in bankruptcy petition may be filed.
Restricts to $7,500 the amount of real estate or insurance assets which may be shielded under the homestead exemption to the bankruptcy code.
Introduced in House
Introduced in House
Referred to the House Committee on Judiciary.
Referred to the Subcommittee on Economic and Commercial Law.
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