US Congress Senate Bill 4479 (Prior Session Legislation)

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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]

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.

A bill to amend title 11, United States Code, to change the treatment of certain rental obligations during bankruptcy.

Sen. Thom Tillis [R-NC]

Date	Chamber	Action
2020-08-06	Senate	Read twice and referred to the Committee on the Judiciary.

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