Auto Bailout Accident Victims Recovery Act of 2024

Bill: 118-hr-8440
Sponsor: full_name: Rep. Moore, Barry [R-AL-2]
Introduced: 2024-05-16
Policy area: Law
Latest action: action_date: 2024-05-16
text: Referred to the House Committee on the Judiciary.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 8440 IN THE HOUSE OF REPRESENTATIVES May 16, 2024 Mr. Moore of Alabama (for himself and Mr. Carter of Louisiana ) introduced the following bill; which was referred to the Committee on the Judiciary A BILL To waive the statute of limitations for cases against the government related to the General Motors bailout that were filed on or before July 9, 2015, and for other purposes.

1. Short title This Act may be cited as the Auto Bailout Accident Victims Recovery Act of 2024 . 2. Settlement of accident victim litigation related to the General Motors bailout; Waiver of statute of limitations (a) Any eligible civil action arising from the filing of an eligible complaint alleging a violation of the takings clause of amendment V to the United States Constitution is not subject to any statute of limitations. (b) The United States shall pay just compensation to an eligible claimant, consistent with amendment V to the Constitution of the United States, to resolve an eligible claim. Just compensation payments to eligible claimants shall be made pursuant to section 1304 of title 31, United States Code. (c) If a settlement agreement has not been submitted to the court presiding over an eligible complaint within 30 days after the date of enactment of this Act, the Attorney General shall submit a report to Congress describing the reasons why a settlement agreement was not reached with counsel of record to an eligible complaint. 3. Definitions For purposes of this Act, the following definitions shall apply: (1) The term eligible claim means a claim asserted in an eligible complaint on behalf of all eligible claimants. (2) The term eligible claimant means a plaintiff, class member, or putative class member in respect of the eligible complaint who holds an eligible claim and who filed a proof of claim in the bankruptcy case captioned In re Motors Liquidation Company, et al., No. 09–50026 (Bankr. S.D.N.Y), based on death or personal injuries that were caused by or attributable to alleged defects in motor vehicles designed for operation on public roadways, or by the component parts of such motor vehicles, and in each case, manufactured, sold, or delivered by General Motors Corporation or any of its subsidiaries on or before June 1, 2009. (3) The term eligible complaint means the complaint filed with the United States Court of Federal Claims by or on behalf of eligible claimants on July 9, 2015, captioned Campbell, et al., v. United States, No. 15–717, alleging violation by the United States of amendment V to the Constitution in connection with the acquisition on July 10, 2009, by NGMCO, Inc., a United States Treasury-sponsored entity, of substantially all the assets of General Motors Corporation. (4) The term just compensation means payment of a lump-sum amount equal to the sum of— (A) 2.5 times the allowed amount listed on the final claims register filed on June 3, 2021, in the In re Motors Liquidation Company bankruptcy case in respect of a proof of claim filed by or on behalf of an eligible claimant, plus (B) interest thereon, plus (C) reasonable court-approved fees and costs to counsel of record on the eligible complaint, all without offset of any kind. Interest shall accrue on all eligible claims from July 10, 2009, to the effective date of settlement at a rate of three and one-half percent (3.5 percent) per annum, compounded quarterly.