H.R. 4369 (112th): Furthering Asbestos Claim Transparency (FACT) Act of 2012

Introduced:
Apr 17, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Ben Quayle [R-AZ3]
Status:
Died (Reported by Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on June 8, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 17, 2012
Referred to Committee Apr 17, 2012
Reported by Committee Jun 08, 2012
Cosponsors
5 cosponsors (4R, 1D) (show)
Committees

House Judiciary

The committee chair determines whether a bill will move past the committee stage.

Full Title

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.

Summary

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Text

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Last updated Sep 21, 2012.
6 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

9/21/2012--Reported to House amended.
Furthering Asbestos Claim Transparency (FACT) Act of 2012 - Amends federal bankruptcy law concerning a trust formed under a plan of reorganization 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 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 reasonable costs, 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 if the subject concerns liability for asbestos exposure.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)