US SB4479 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on August 6 2020 - 25% progression, died in committee
Action: 2020-08-06 - Read twice and referred to the Committee on the Judiciary.
Pending: Senate Judiciary Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on August 6 2020 - 25% progression, died in committee
Action: 2020-08-06 - Read twice and referred to the Committee on the Judiciary.
Pending: Senate Judiciary Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Temporarily revises bankruptcy provisions related to a lease of nonresidential real property. Specifically, if a Chapter 11 small business reorganization bankruptcy debtor is experiencing material financial hardship due to the COVID-19 (i.e., coronavirus disease 2019) pandemic, a court may extend the time the debtor may pay rent on a nonresidential real property from 60 days to 120 days. Additionally, businesses impacted by the COVID-19 pandemic have an additional 90 days to determine whether to keep or end a nonresidential lease agreement. The bill also prohibits a bankruptcy trustee from voiding transfers of the debtor's interest due to the payment of certain rental and supplier arrearages. These provisions have a two-year sunset.
Title
A bill to amend title 11, United States Code, to change the treatment of certain rental obligations during bankruptcy.
Sponsors
Sen. Thom Tillis [R-NC] |
History
Date | Chamber | Action |
---|---|---|
2020-08-06 | Senate | Read twice and referred to the Committee on the Judiciary. |
Subjects
Bankruptcy
Cardiovascular and respiratory health
Contracts and agency
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
Landlord and tenant
Cardiovascular and respiratory health
Contracts and agency
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
Landlord and tenant
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/4479/all-info |
Text | https://www.congress.gov/116/bills/s4479/BILLS-116s4479is.pdf |