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H.R. 526House114th Congress (2015-2017)In Committee

Furthering Asbestos Claim Transparency (FACT) Act of 2015

Sponsored by Blake FarentholdRep. Blake Farenthold (R-TX)
Introduced January 26, 2015

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Placed on the Union Calendar, Calendar No. 271.

November 30, 2015

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HouseIntro Referral

Introduced in House

January 26, 2015

HouseIntro Referral

Referred to the House Committee on the Judiciary.

Judiciary Committee

January 26, 2015

HouseCommittee

Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.

Administrative State, Regulatory Reform, and Antitrust Subcommittee

March 17, 2015

HouseCommittee

Subcommittee on Regulatory Reform, Commercial And Antitrust Law Discharged.

Judiciary Committee

May 13, 2015

HouseCommittee

Committee Consideration and Mark-up Session Held.

Judiciary Committee

May 14, 2015

HouseCommittee

Ordered to be Reported by the Yeas and Nays: 19 - 9.

Judiciary Committee

May 14, 2015

HouseCommittee

Reported by the Committee on Judiciary. H. Rept. 114-352.

Judiciary Committee

November 30, 2015

HouseCalendars

Placed on the Union Calendar, Calendar No. 271.

November 30, 2015

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Reported in HouseIssued November 30, 2015

IB

Union Calendar No. 271

114th CONGRESS

1st Session

H. R. 526

[Report No. 114–352]

IN THE HOUSE OF REPRESENTATIVES

January 26, 2015

Mr. Farenthold (for himself and Mr. Marino) introduced the following bill; which was referred to the Committee on the Judiciary

November 30, 2015

Additional sponsors: Mr. Trott and Mr. Franks of Arizona

November 30, 2015

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

A BILL

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.

1.

Short title

This Act may be cited as the Furthering Asbestos Claim Transparency (FACT) Act of 2015.

2.

Amendments

Section 524(g) of title 11, United States Code, is amended by adding at the end the following:

(8)

A trust described in paragraph (2) shall, subject to section 107—

(A)

file with the bankruptcy court, not later than 60 days after the end of every quarter, a report that shall be made available on the court’s public docket and with respect to such quarter—

(i)

describes each demand the trust received from, including the name and exposure history of, a claimant and the basis for any payment from the trust made to such claimant; and

(ii)

does not include any confidential medical record or the claimant’s full social security number; and

(B)

upon written request, and subject to payment (demanded at the option of the trust) for any reasonable cost incurred by the trust to comply with such request, provide in a timely manner any information related to payment from, and demands for payment from, such trust, subject to appropriate protective orders, to any party to any action in law or equity if the subject of such action concerns liability for asbestos exposure.

.

3.

Effective date; application of amendments

(a)

Effective date

Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act.

(b)

Application of amendments

The amendments made by this Act shall apply with respect to cases commenced under title 11 of the United States Code before, on, or after the date of the enactment of this Act.

November 30, 2015

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed