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Bill115th CongressFiled Feb 7, 2017Finance and Financial Sector
H.R. 906

Furthering Asbestos Claim Transparency (FACT) Act of 2017

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary reported to house without amendment (Feb 24, 2017)

(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 2017

(Sec. 2) This bill amends federal bankruptcy law to establish disclosure requirements with respect to a trust that is formed under a reorganization plan, following the discharge in bankruptcy of a debtor corporation, for the purpose of assuming the debtor's liability regarding certain legal claims related to liability for asbestos exposure.

Such a trust must file with the bankruptcy court quarterly reports, available on the public docket, that describe each demand the trust has received from a claimant and the basis for any payment made to that claimant. These reports shall not include any confidential medical record or the claimant's full Social Security number.

Upon written request, and subject to payment for reasonable costs, a trust must provide information related to payment from, and demands for payment from, the trust to any party to an action concerning liability for asbestos exposure.

What just happenedFeb 24, 2017

Placed on the Union Calendar, Calendar No. 6.

Who’s behind it

Rep. Farenthold, Blake [R-TX-27](R-TX)Sponsor
4 cosponsors4 R
Read on Congress.gov
4cosponsors1committees9actions1related bills3subjects
  1. Feb 24, 2017CalendarsH12410

    Placed on the Union Calendar, Calendar No. 6.

  2. Feb 24, 2017CommitteeH12200

    Reported by the Committee on Judiciary. H. Rept. 115-18.

    Judiciary Committee
  3. Feb 24, 2017Committee5000

    Reported by the Committee on Judiciary. H. Rept. 115-18.

    Judiciary Committee
  4. Feb 15, 2017Committee

    Ordered to be Reported by the Yeas and Nays: 19 - 11.

    Judiciary Committee
  5. Feb 15, 2017Committee

    Committee Consideration and Mark-up Session Held.

    Judiciary Committee
  6. Feb 7, 2017Committee

    Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.

    Administrative State, Regulatory Reform, and Antitrust Subcommittee
  7. Feb 7, 2017IntroReferralH11100

    Referred to the House Committee on the Judiciary.

    Judiciary Committee
  8. Feb 7, 2017IntroReferralIntro-H

    Introduced in House

  9. Feb 7, 2017IntroReferral1000

    Introduced in House

Reported to House without amendmentFeb 24, 201779

(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 2017

(Sec. 2) This bill amends federal bankruptcy law to establish disclosure requirements with respect to a trust that is formed under a reorganization plan, following the discharge in bankruptcy of a debtor corporation, for the purpose of assuming the debtor's liability regarding certain legal claims related to liability for asbestos exposure.

Such a trust must file with the bankruptcy court quarterly reports, available on the public docket, that describe each demand the trust has received from a claimant and the basis for any payment made to that claimant. These reports shall not include any confidential medical record or the claimant's full Social Security number.

Upon written request, and subject to payment for reasonable costs, a trust must provide information related to payment from, and demands for payment from, the trust to any party to an action concerning liability for asbestos exposure.

Introduced in HouseFeb 7, 2017

Furthering Asbestos Claim Transparency (FACT) Act of 2017

This bill amends federal bankruptcy law to establish disclosure requirements with respect to a trust that is formed under a reorganization plan, following the discharge in bankruptcy of a debtor corporation, for the purpose of assuming the debtor's liability regarding certain legal claims related to liability for asbestos exposure.

Such a trust must file with the bankruptcy court quarterly reports, available on the public docket, that describe each demand the trust has received from a claimant and the basis for any payment made to that claimant. These reports shall not include any confidential medical record or the claimant's full Social Security number.

Upon written request, and subject to payment for reasonable costs, a trust must provide information related to payment from, and demands for payment from, the trust to any party to an action concerning liability for asbestos exposure.

Furthering Asbestos Claim Transparency (FACT) Act of 2017 — Informed