S.Amdt. 1809
What it does: Adds TITLE V--BANKRUPTCY VENUE REFORM at the end of the bill
Sen. Chuck Grassley (R-IA)What it changes
1 change to S. 1813 · shown in the bill's text
Adds TITLE V--BANKRUPTCY VENUE REFORM at the end of the bill
Adds a titleIn S. 1813 · Reported to Senate
"7. Highway Spending Controls.............................. 701".
Inserted: TITLE V--BANKRUPTCY VENUE REFORM
Inserted: SEC. 501. SHORT TITLE.
Inserted: This title may be cited as the "Chapter 11 Bankruptcy Venue Reform Act of 2012".
Inserted: SEC. 502. AMENDMENTS.
Inserted: Section 1408 of title 28, United States Code, is amended--
Inserted: (1) by inserting "(a)" before "Except",
Inserted: (2) by inserting "and subsection (b) of this section" after "this title", and
Inserted: (3) by adding at the end the following:
Inserted: "(b) A case under chapter 11 of title 11 in which the person that is the subject of the case is a corporation may be commenced only in the district court for the district--
Inserted: "(1) in which the principal place of business in the United States, or principal assets in the United States, of such corporation have been located for 1 year immediately preceding such commencement, or for a longer portion of such 1-year period than the principal place of business in the United States, or principal assets in the United States, of such corporation were located in any other district; or
Inserted: "(2) in which there is pending a case under chapter 11 of title 11 concerning an affiliate of such corporation, if the affiliate in such pending case directly or indirectly owns, controls, or holds with power to vote more than 50 percent of the outstanding voting securities of such corporation.".
Inserted: SEC. 503. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.
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Inserted: (a) Effective Date.--Except as provided in subsection (b), this title and the amendments made by this title shall take effect on the date of enactment of this Act.
Inserted: (b) Application of Amendments.--The amendments made by this title shall apply only with respect to cases commenced under title 11 of the United States Code on or after the date of enactment of this Act.
Original wording
At the end, add the following:
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As printed
SA 1809. Mr. GRASSLEY submitted an amendment intended to be proposed by him to the bill S. 1813, to reauthorize Federal-aid highway and highway safety construction programs, and for other purposes; which was ordered to lie on the table; as follows:
At the end, add the following:
TITLE V--BANKRUPTCY VENUE REFORM
SEC. 501. SHORT TITLE.
This title may be cited as the “Chapter 11 Bankruptcy Venue Reform Act of 2012”.
SEC. 502. AMENDMENTS.
Section 1408 of title 28, United States Code, is amended--
(1) by inserting “(a)” before “Except”,
(2) by inserting “and subsection (b) of this section” after “this title”, and
(3) by adding at the end the following:
“(b) A case under chapter 11 of title 11 in which the person that is the subject of the case is a corporation may be commenced only in the district court for the district--
“(1) in which the principal place of business in the United States, or principal assets in the United States, of such corporation have been located for 1 year immediately preceding such commencement, or for a longer portion of such 1-year period than the principal place of business in the United States, or principal assets in the United States, of such corporation were located in any other district; or
“(2) in which there is pending a case under chapter 11 of title 11 concerning an affiliate of such corporation, if the affiliate in such pending case directly or indirectly owns, controls, or holds with power to vote more than 50 percent of the outstanding voting securities of such corporation.”.
SEC. 503. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.
(a) Effective Date.--Except as provided in subsection (b), this title and the amendments made by this title shall take effect on the date of enactment of this Act.
(b) Application of Amendments.--The amendments made by this title shall apply only with respect to cases commenced under title 11 of the United States Code on or after the date of enactment of this Act.
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Senate amendment submitted
March 7, 2012