To amend the Internal Revenue Code of 1986 to provide that tax attributes shall not be reduced in connection with a discharge of indebtedness in a title 11 case of a company having asbestos-related claims against it.
Asbestos Claims Tax Fairness Act of 2003 - Amends the Internal Revenue Code to provide for the preservation of tax attributes in asbestos company bankruptcy cases and provide an exemption for asbestos related settlement funds to ensure the availability of a company's assets to pay asbestos claims.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1298)
Referred to the House Committee on Ways and Means.
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