FACT Act

3.0.0 526 2023-01-11T13:29:01Z 2023-01-11T13:29:01Z House HR 2015-01-26 114 [Congressional Record Volume 161, Number 12 (Monday, January 26, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. FARENTHOLD:H.R. 526.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, clause 3 of the United StatesConstitution, in that the legislation exercises legislativepower granted to Congress by that clause ``to regulateCommerce with foreign Nations, and among the several States,and with Indian tribes;'' Article I, Section 8, clause 4 ofthe United States Constitution, in that the legislationexercises legislative power granted to Congress by thatclause ``to establish . . . uniform Laws on the subject ofBankruptcies throughout the United States;'' and Article I,Section 8, clause 18 of the United States Constitution, inthat the legislation exercises legislative power granted toCongress by that clause ``to make all Laws which shall benecessary and proper for carrying into Execution theforegoing Powers, and all other Powers vested by thisConstitution in the Government of the United States, or inany Department or Officer thereof.''[Page H582]]]> hsju00 Judiciary Committee House Standing hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee Discharged from 2015-05-13T20:30:24Z Referred to 2015-03-17T15:03:54Z Reported by 2015-11-30T19:45:55Z Markup by 2015-05-14T20:33:35Z Referred to 2015-01-26T17:02:50Z H. Rept. 114-352 FACT Act 114 357 S 2016-02-03 Committee on the Judiciary. Hearings held. Related bill CRS Fairness in Class Action Litigation and Furthering Asbestos Claim Transparency Act of 2016 114 1927 HR 2016-01-11 Received in the Senate and Read twice and referred to the Committee on the Judiciary. Related bill CRS 2015-11-30 Placed on the Union Calendar, Calendar No. 271. Calendars H12410 2 House floor actions U00271 2015-11-30 Reported by the Committee on Judiciary. H. Rept. 114-352. Committee H12200 2 House floor actions hsju00 Judiciary Committee 2015-11-30 Reported by the Committee on Judiciary. H. Rept. 114-352. Committee 5000 9 Library of Congress hsju00 Judiciary Committee 2015-05-14 hsju00 Judiciary Committee 1 House committee actions Ordered to be Reported by the Yeas and Nays: 19 - 9. Committee 2015-05-14 hsju00 Judiciary Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2015-05-13 hsju00 Judiciary Committee 1 House committee actions Subcommittee on Regulatory Reform, Commercial And Antitrust Law Discharged. Committee 2015-03-17 hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee 1 House committee actions Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. Committee 2015-01-26 Referred to the House Committee on the Judiciary. IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2015-01-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-01-26 Introduced in House IntroReferral 1000 9 Library of Congress F000460 Rep. Farenthold, Blake [R-TX-27] Blake Farenthold R TX 27 N M001179 Rep. Marino, Tom [R-PA-10] Tom Marino R PA 10 2015-01-26 True T000475 Rep. Trott, David A. [R-MI-11] David Trott R MI A. 11 2015-04-21 False F000448 Rep. Franks, Trent [R-AZ-8] Trent Franks R AZ 8 2015-04-21 False 2015-05-29T13:00:57Z H.R. 526, Furthering Asbestos Claims Transparency (FACT) Act of 2015 https://www.cbo.gov/publication/50232 As ordered reported by the House Committee on the Judiciary on May 14, 2015 Finance and Financial Sector Bankruptcy Civil actions and liability Hazardous wastes and toxic substances Finance and Financial Sector

00 2015-01-26 Introduced in House 2015-02-03T16:14:42Z Furthering Asbestos Claim Transparency (FACT) Act of 2015

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.

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79 2015-11-30 Reported to House without amendment 2015-12-17T16:15:25Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Furthering Asbestos Claim Transparency (FACT) Act of 2015

(Sec. 2) This bill 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.

Such a trust shall 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).

Such reports, upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by it, shall 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.

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Furthering Asbestos Claim Transparency (FACT) Act of 2015 Display Title Furthering Asbestos Claim Transparency (FACT) Act of 2015 Official Title as Introduced 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. Introduced in House IH Short Titles as Introduced Furthering Asbestos Claim Transparency (FACT) Act of 2015 Short Titles as Reported to House Furthering Asbestos Claim Transparency (FACT) Act of 2015 H House Reported in House 2015-11-30T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr526rh/xml/BILLS-114hr526rh.xml Introduced in House 2015-01-26T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr526ih/xml/BILLS-114hr526ih.xml 2015-11-30 Placed on the Union Calendar, Calendar No. 271. 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.