[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 3076 Introduced in Senate (IS)]

112th CONGRESS
  2d Session
                                S. 3076

   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 the filing of such reports with the Executive Office for 
                        United States Trustees.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 10, 2012

  Mr. Coburn introduced the following bill; which was read twice and 
               referred to the Committee on the Judiciary

_______________________________________________________________________

                                 A BILL


 
   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 the filing of such reports with the Executive Office for 
                        United States Trustees.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Furthering Asbestos Claim 
Transparency Act of 2012'' or the ``FACT Act''.

SEC. 2. AMENDMENTS.

    Section 524(g) of title 11, the United States Code, is amended by 
adding at the end the following:
    ``(8) A trust described in paragraph (2)(B)(i) shall--
            ``(A) not later than 60 days after the end of each quarter, 
        file with the bankruptcy court (which shall make the report 
        available on the public docket of the court) and the United 
        States Trustee a report that, for the quarter covered by the 
        report--
                    ``(i) describes each demand the trust received from 
                a claimant, which--
                            ``(I) shall include the name and exposure 
                        history of the claimant and the basis for any 
                        payment from the trust made to such claimant; 
                        and
                            ``(II) shall not include any confidential 
                        medical record or the claimant's full social 
                        security number; and
            ``(B) upon written request, provide in a timely manner any 
        information relating to payment from, and demands for payment 
        from, the trust, subject to appropriate protective orders, to 
        any party to any action in law or equity if the subject of the 
        action concerns liability for asbestos exposure.''.

SEC. 3. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.

    (a) Effective Date.--Except as provided in subsection (b), this Act 
and the amendments made by this Act shall take effect on the date of 
enactment of this Act.
    (b) Application of Amendments.--The amendments made by this Act 
shall apply with respect to any matter under title 11 of the United 
States Code filed before, on, or after the date of enactment of this 
Act.
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