FACT Act
Latest action · May 10, 2012 Read twice and referred to the Committee on the Judiciary.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 10, 2012
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Furthering Asbestos Claim Transparency Act of 2012 or FACT Act - 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 a trust to file with the bankruptcy court and the U.S. Trustee 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 also to provide any information relating 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.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- May 10, 2012Introduced in Senate
- May 10, 2012Read twice and referred to the Committee on the Judiciary.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 4369 | Furthering Asbestos Claim Transparency (FACT) Act of 2012 | Related bill | Sep 21, 2012 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- May 10, 2012Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.
