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[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 357 Introduced in Senate (IS)]

114th CONGRESS
  1st Session
                                 S. 357

   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.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                            February 4, 2015

 Mr. Flake (for himself and Mr. Cornyn) introduced the following bill; 
  which was read twice and referred to the Committee on the Judiciary

_______________________________________________________________________

                                 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.

    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 ``Furthering Asbestos Claim 
Transparency Act of 2015'' or the ``FACT Act''.

SEC. 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) not later than 60 days after the end of every 
        quarter, file with the bankruptcy court a report that--
                    ``(i) shall be made available on the court's public 
                docket; and
                    ``(ii) with respect to such quarter--
                            ``(I) shall describe each demand the trust 
                        received from a claimant, including the name 
                        and exposure history of the claimant, and the 
                        basis for any payment from the trust made to 
                        such claimant; and
                            ``(II) shall 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. 3. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.

    This Act and the amendments made by this Act shall--
            (1) take effect on the date of the enactment of this Act; 
        and
            (2) apply with respect to any case commenced under title 11 
        of the United States Code before, on, or after the date of 
        enactment of this Act.
                                 <all>
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