Text: S.1963 — 115th Congress (2017-2018)All Information (Except Text)

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Introduced in Senate (10/16/2017)


115th CONGRESS
1st Session
S. 1963


To amend title 11, United States Code, to include certain pension as administrative expenses in bankruptcy, and for other purposes.


IN THE SENATE OF THE UNITED STATES

October 16, 2017

Mr. Manchin introduced the following bill; which was read twice and referred to the Committee on the Judiciary


A BILL

To amend title 11, United States Code, to include certain pension as administrative expenses in bankruptcy, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Prioritizing Our Workers Act”.

SEC. 2. Allowance of administrative expenses.

(a) In general.—Section 503(b) of title 11, United States Code, is amended—

(1) in paragraph (8)(B), by striking “and” at the end;

(2) in paragraph (9), by striking the period at the end and inserting a semicolon; and

(3) by inserting after paragraph (9) the following:

“(10) notwithstanding section 507(a)(5), all unfunded vested benefits in a defined benefit pension plan; and

“(11) withdrawal liability determined under part 1 of subtitle E of title IV of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1381 et seq.).”.

(b) Conforming amendment.—Section 507(a)(5) is amended by inserting “except as provided in section 503(b)(10),” after “Fifth,”.


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