Senate Bill 766
116th Congress(2019-2020)
PROTECT Asbestos Victims Act of 2019
Introduced
Introduced in Senate on Mar 13, 2019
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
766
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No Senate votes have been held for this bill.
Summary
Providing Responsible Oversight of Trusts to Ensure Compensation and Transparency for Asbestos Victims Act of 2019 or the PROTECT Asbestos Victims Act of 2019
This bill modifies several aspects of the asbestos bankruptcy trust system. An asbestos bankruptcy trust is established when a company subject to asbestos-related liability files for bankruptcy under chapter 11.
Among other things, the bill
- provides statutory authority for the U.S. Trustee Program within the Department of Justice to investigate the administration and operation of asbestos bankruptcy trusts; and
- creates new criminal offenses for making a false representation to, or a false claim for payment by, an asbestos bankruptcy trust.
March 13, 2019
03/13/2019
Read twice and referred to the Committee on the Judiciary.
03/13/2019
Introduced in Senate
Public Record
Record Updated
Nov 1, 2022 5:47:14 PM