3.0.0 3545 2022-02-03T05:53:17Z 2022-02-03T05:53:17Z Senate S S 2012-09-13 112 ssfi00 Finance Committee Senate Standing Referred to 2012-09-13T21:54:38Z 2012-09-13 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6343) IntroReferral 2012-09-13 Sponsor introductory remarks on measure. (CR S6342-6343) IntroReferral B00100 9 Library of Congress 2012-09-13 Introduced in Senate IntroReferral 10000 9 Library of Congress G000386 Sen. Grassley, Chuck [R-IA] Charles Grassley R IA E. N F000457 Sen. Franken, Al [D-MN] Al Franken D MN 2012-09-13 True Finance and Financial Sector Agricultural prices, subsidies, credit Bankruptcy Farmland Tax administration and collection, taxpayers Finance and Financial Sector 00 2012-09-13 Introduced in Senate 2012-11-13T21:47:43Z Family Farmer Bankruptcy Tax Clarification Act of 2012 - Amends chapter 12 (Debt Adjustment of a Family Farmer or Fisherman with Regular Annual Income) of federal bankruptcy law to revise the exclusion from the requirement of full payment under a discharged debtor's plan of any claim owed to a governmental unit arising as a result of the sale, transfer, exchange, or other disposition of a farm asset used in the debtor's farming operation (in which case the claim is treated as unsecured and not entitled to priority payment).

Requires the debtor's plan to provide for: (1) the treatment as a non-priority unsecured claim of any claim owed to a governmental unit by the debtor or the estate arising as a result of the sale, transfer, exchange, or other disposition of a farm asset; but also (2) the payment of that claim. Repeals the precondition that such treatment may be made only if the debtor receives a discharge in bankruptcy.

Authorizes a governmental unit to file postpetition claims relating to the disposition of farm assets.

Authorizes the trustee or the debtor, also, to file such postpetition claims (including a claim for a tax for which a return is due) if the governmental unit has not filed by a specified deadline.

Authorizes modification of the bankruptcy plan after its confirmation in order to provide for the payment of a non-priority unsecured claim presented by a governmental unit that arose after the petition filing date.


]]> Family Farmer Bankruptcy Tax Clarification Act of 2012 Short Titles as Introduced Family Farmer Bankruptcy Tax Clarification Act of 2012 Display Title Family Farmer Bankruptcy Tax Clarification Act of 2012 Official Title as Introduced A bill to amend title 11 of the United States Code to clarify the rule allowing discharge as a nonpriority claim of governmental claims arising from the disposition of farm assets under chapter 12 bankruptcies. Introduced in Senate 2012-09-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s3545is/xml/BILLS-112s3545is.xml 2012-09-13 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6343) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.