Furthering Asbestos Claim Transparency (FACT) Act of 2015
Latest action · Nov 30, 2015 Placed on the Union Calendar, Calendar No. 271.
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.
- IntroducedJan 26, 2015
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
(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 2015
(Sec. 2) This bill amends federal bankruptcy law concerning a trust formed under a reorganization plan 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.
Such a trust shall 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).
Such reports, upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by it, shall provide any information related to payment from, and demands for payment from, the trust to any party to any action in law or equity concerning liability for asbestos exposure.
Cosponsors 3
Members who signed on, in the order they did. Signatures ran from Jan 26, 2015 to Apr 21, 2015; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-PA | Tom Marino | Original | Jan 26, 2015 |
| R-MI | David A. Trott | Apr 21, 2015 | |
| R-AZ | Trent Franks | Apr 21, 2015 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Judiciary Committee | Referred Jan 26, 2015Markup May 14, 2015Reported Nov 30, 2015 |
| Administrative State, Regulatory Reform, and Antitrust Subcommittee | Referred Mar 17, 2015Discharged May 13, 2015 |
Actions 8
Everything that happened, newest first.
- Nov 30, 2015Reported by the Committee on Judiciary. H. Rept. 114-352.
- Nov 30, 2015Placed on the Union Calendar, Calendar No. 271.
- May 14, 2015Committee Consideration and Mark-up Session Held.
- May 14, 2015Ordered to be Reported by the Yeas and Nays: 19 - 9.
- May 13, 2015Subcommittee on Regulatory Reform, Commercial And Antitrust Law Discharged.
- Mar 17, 2015Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
- Jan 26, 2015Introduced in House
- Jan 26, 2015Referred to the House Committee on the Judiciary.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimate
- May 29, 2015H.R. 526, Furthering Asbestos Claims Transparency (FACT) Act of 2015As ordered reported by the House Committee on the Judiciary on May 14, 2015
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 161, no. 12, January 26, 2015, page H582.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 114-7 | FURTHERING ASBESTOS CLAIM TRANSPARENCY (FACT) ACT OF 2015242 pages | Judiciary Committee | Feb 4, 2015 |
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 357 | FACT Act | Related bill | Feb 3, 2016 |
| HR 906 | Furthering Asbestos Claim Transparency (FACT) Act of 2017 | Reintroduced Bill | Feb 24, 2017 |
| HR 1927 | Fairness in Class Action Litigation and Furthering Asbestos Claim Transparency Act of 2016 | Related bill | Jan 11, 2016 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- 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 for other purposes.
- Short Titles as Introduced
- Furthering Asbestos Claim Transparency (FACT) Act of 2015
- Short Titles as Reported to House
- Furthering Asbestos Claim Transparency (FACT) Act of 2015
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 2
Each version as it was printed, newest first.
- Nov 30, 2015Reported in House
- Jan 26, 2015Introduced in House
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
