Furthering Asbestos Claim Transparency (FACT) Act of 2013 - Amends federal bankruptcy law concerning a trust formed under a reorganization plan following the discharge in bankruptcy of a debtor corporation in order to assume the debtor's liability with respect to claims seeking recovery for personal injury, wrongful death, or property damage allegedly caused by the presence of, or exposure to, asbestos or asbestos-containing products.
Requires such a trust to file with the bankruptcy court quarterly reports, available on the public docket, which describe each demand the trust has received from a claimant and the basis for any payment made to that claimant (excluding any confidential medical record or the claimant's full Social Security number).
Requires such reports, upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by it, to provide any information related to payment from, and demands for payment from, the trust to any party to any action in law or equity concerning liability for asbestos exposure.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 982 Introduced in House (IH)]
113th CONGRESS
1st Session
H. R. 982
To amend title 11 of the United States Code to require the public
disclosure by trusts established under section 524(g) of such title, of
quarterly reports that contain detailed information regarding the
receipt and disposition of claims for injuries based on exposure to
asbestos; and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 6, 2013
Mr. Farenthold (for himself and Mr. Matheson) introduced the following
bill; which was referred to the Committee on the Judiciary
_______________________________________________________________________
A BILL
To amend title 11 of the United States Code to require the public
disclosure by trusts established under section 524(g) of such title, of
quarterly reports that contain detailed information regarding the
receipt and disposition of claims for injuries based on exposure to
asbestos; and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Furthering Asbestos Claim
Transparency (FACT) Act of 2013''.
SEC. 2. AMENDMENTS.
Section 524(g) of title 11, United States Code, is amended by
adding at the end the following:
``(8) A trust described in paragraph (2) shall, subject to section
107--
``(A) file with the bankruptcy court, not later than 60
days after the end of every quarter, a report that shall be
made available on the court's public docket and with respect to
such quarter--
``(i) describes each demand the trust received
from, including the name and exposure history of, a
claimant and the basis for any payment from the trust
made to such claimant; and
``(ii) does not include any confidential medical
record or the claimant's full social security number;
and
``(B) upon written request, and subject to payment
(demanded at the option of the trust) for any reasonable cost
incurred by the trust to comply with such request, provide in a
timely manner any information related to payment from, and
demands for payment from, such trust, subject to appropriate
protective orders, to any party to any action in law or equity
if the subject of such action concerns liability for asbestos
exposure.''.
SEC. 3. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.
(a) Effective Date.--Except as provided in subsection (b), this Act
and the amendments made by this Act shall take effect on the date of
the enactment of this Act.
(b) Application of Amendments.--The amendments made by this Act
shall apply with respect to cases commenced under title 11 of the
United States Code before, on, or after the date of the enactment of
this Act.
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POSTPONED PROCEEDINGS - At the conclusion of debate on the Cohen amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes prevailed. Mr. Goodlatte demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
DEBATE - Pursuant to the provisions of H.Res. 403, the Committee of the Whole proceeded with 10 minutes of debate on the Nadler amendment.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Nadler amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes prevailed. Mr. Nadler demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
DEBATE - Pursuant to the provisions of H.Res. 403, the Committee of the Whole proceeded with 10 minutes of debate on the Jackson Lee amendment.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Jackson Lee amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes prevailed. Ms. Jackson Lee demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
Mr. Goodlatte moved that the committee rise.
On motion that the committee rise Agreed to by voice vote.
Committee of the Whole House on the state of the Union rises leaving H.R. 982 as unfinished business.
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Considered as unfinished business. (consideration: CR H7029-7034)
The House resolved into Committee of the Whole House on the state of the Union for further consideration.
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 982.
The previous question was ordered pursuant to the rule. (consideration: CR H7032)
Mr. Owens moved to recommit with instructions to Judiciary. (consideration: CR H7032-7033; text: CR H7032)
DEBATE - The House proceeded with 10 minutes of debate on the Owens motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House forthwith with an amendment to exempt veterans and members of the U.S. Armed Forces from the disclosure requirements of the bill and ensure that their asbestos claims are paid before death.
The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H7032)
On motion to recommit with instructions Failed by the Yeas and Nays: 197 - 224 (Roll no. 578).
Roll Call #578 (House)Passed/agreed to in House: On passage Passed by recorded vote: 221 - 199 (Roll no. 579).(text: CR H7024-7025)
Roll Call #579 (House)On passage Passed by recorded vote: 221 - 199 (Roll no. 579). (text: CR H7024-7025)
Roll Call #579 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on the Judiciary.