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Bill115th CongressFiled Mar 15, 2018Finance and Financial Sector
S. 2564

PROTECT Asbestos Victims Act of 2018

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Under committee review

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What it doesSummary introduced in senate (Mar 15, 2018)

Providing Responsible Oversight of Trusts to Ensure Compensation and Transparency for Asbestos Victims Act of 2018 or the PROTECT Asbestos Victims Act of 2018

This bill modifies several aspects of the asbestos bankruptcy trust system. An asbestos bankruptcy trust is established when a company subject to asbestos-related liability files for bankruptcy under chapter 11 (reorganization).

Among other things, the bill does the following:

  • provides statutory authority for the U.S. Trustee Program within the Department of Justice to investigate the administration and operation of asbestos bankruptcy trusts; and
  • creates new criminal offenses for making a false representation to, or a false claim for payment by, an asbestos bankruptcy trust.

What just happenedMar 15, 2018

Read twice and referred to the Committee on the Judiciary.

Who’s behind it

Sen. Tillis, Thomas [R-NC](R-NC)Sponsor
5 cosponsors5 R
Read on Congress.gov
5cosponsors1committees2actions8subjects
  1. Mar 15, 2018IntroReferral

    Read twice and referred to the Committee on the Judiciary.

    Judiciary Committee
  2. Mar 15, 2018IntroReferral10000

    Introduced in Senate

PROTECT Asbestos Victims Act of 2018 — Informed