H.R.982 - Furthering Asbestos Claim Transparency (FACT) Act of 2013113th Congress (2013-2014)
|Sponsor:||Rep. Farenthold, Blake [R-TX-27] (Introduced 03/06/2013)|
|Committees:||House - Judiciary | Senate - Judiciary|
|Committee Reports:||House Report 113-254; House Report 113-254,Part 2|
|Latest Action:||11/14/2013 Received in the Senate and Read twice and referred to the Committee on the Judiciary. (All Actions)|
|Major Recorded Votes:||11/13/2013 : Passed House|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.982 — 113th Congress (2013-2014)All Bill Information (Except Text)
Passed House amended (11/13/2013)
Furthering Asbestos Claim Transparency (FACT) Act of 2013 - 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.
Requires such a 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 any reasonable cost incurred by it, 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 concerning liability for asbestos exposure.