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Title II — Furthering Asbestos Claim Transparency

H.R. 985 · 115th Congress · Mar 13, 2017 · Lineage

II Furthering Asbestos Claim Transparency

Sec. 201 Short title

This title may be cited as the “Furthering Asbestos Claim Transparency (FACT) Act of 2017”.

Sec. 202 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.”

Sec. 203 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 the enactment of this title.
(b)
Application of amendments— The amendments made by this title 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 title.