US Congress Senate Bill 3076 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on May 10 2012 - 25% progression, died in committee
Action: 2012-05-10 - Read twice and referred to the Committee on the Judiciary.
Pending: Senate Judiciary Committee
Text: Latest bill text (Introduced) [PDF]

Furthering Asbestos Claim Transparency Act of 2012 or FACT Act - Amends federal bankruptcy law concerning a trust formed under a plan of reorganization 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 and the U.S. Trustee 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 also to provide any information relating to payment from, and demands for payment from, the trust to any party to any action in law or equity if the subject concerns liability for asbestos exposure.

FACT Act

Sen. Tom Coburn [R-OK]

Date	Chamber	Action
2012-05-10	Senate	Read twice and referred to the Committee on the Judiciary.

HB4369 (Related) 2012-09-21 - Placed on the Union Calendar, Calendar No. 498.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/3076/all-info
Text	https://www.congress.gov/112/bills/s3076/BILLS-112s3076is.pdf