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HR 138 - 115

Protecting Employees and Retirees in Business Bankruptcies Act of 2017

ASSUMING FIRST SPONSORSHIP - Mr. Norcross asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 138, a bill originally introduced by former Representative Conyers, for purposes of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.

Bill highlights

Votes, text signals, source context, and latest movement from this record.

Bill Text Stats

67
Analyzed sections
$50,000
Detected dollar total
3
Tax signals
2
Deadlines

Signal counts

Tax density 4.5%
Spending density 4.5%
Benefits 50
Amendments 12
Statutory Reference 8
Spending 3
Tax 3
Deadline 2
Privacy 2

Top agencies

N/A

Statutory references

29 U.S.C. 1002 2
Section 1113 of title 11 1
Section 1114 of title 11 1
section 2901 of title 29 1
Section 365 of title 11 1
Section 502 of title 11 1
Section 547 of title 11 1

House Votes

No House roll call votes have been linked to this bill yet.

Timeline

Mar 15, 2018

ASSUMING FIRST SPONSORSHIP - Mr. Norcross asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 138, a bill originally introduced by former Representative Conyers, for purposes of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.

Jan 23, 2017

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

Jan 3, 2017

Introduced in House

Jan 3, 2017

Introduced in House

Jan 3, 2017

Referred to the House Committee on the Judiciary.

Affected Sectors

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Labor and employment
18 evidence matches
Impact 100% Confidence 78%

inline="no-display-inline" Section 501(a) of title 11, United States Code, is amended by inserting, including a labor organization, after A creditor. section commented="no" id="H6C40AD2EBDB34

ed by Section 502 of title 11, United States Code, is amended by adding at the end the following: ``(l) The court shall allow a claim asserted by an active or retired participant, or by a labor organization representing such participants, i

is amended by Section 501(a) of title 11, United States Code, is amended by inserting ``, including a labor organization,'' after ``A creditor''.

Finance and banking
4 evidence matches
Impact 100% Confidence 90%

Finance and Financial Sector

5" (B) provides for recovery of claims arising from the modification of retiree benefits or for other financial returns, as negotiated by the debtor and the authorized representative (to the extent that such returns are pa

of the petition; and ``(B) provides for recovery of claims arising from the modification of retiree benefits or for other financial returns, as negotiated by the debtor and the authorized representative (to the extent that such returns are

Healthcare
8 evidence matches
Impact 95% Confidence 78%

offered to maintain existing jobs, preserve terms and conditions of employment, and assume or match pension and retiree health benefit obligations in determining whether an offer constitutes the highest or best offer for such property. /tex

(h) of section 1114 to impose reductions in retiree benefits or under subsection (d) or (e) of section 1113 to impose reductions in the health benefits of active employees of the debtor, or reduced or eliminated health benefits for active o

114 to impose reductions in retiree benefits or under subsection (d) or (e) of section 1113 to impose reductions in the health benefits of active employees of the debtor, or reduced or eliminated health benefits for active or retired employ

CBO Cost Estimates

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Campaign Finance Context

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Summary

00 Introduced in House May 16, 2017

Protecting Employees and Retirees in Business Bankruptcies Act of 2017 This bill amends federal bankruptcy law to modify provisions related to Chapter 11 bankruptcy, which typically involves the reorganization of a debtor company's assets and debts. Specifically, the bill modifies provisions governing: (1) employee and retiree recoveries and losses, and (2) executive compensation programs. With respect to employee and retiree recoveries and losses, the bill: increases the maximum value and age of specified wage and benefit claims entitled to priority payment; allows certain claims for losses related to defined contribution plans, if the employer or plan sponsor has committed fraud or otherwise breached its fiduciary duty; allows, as an administrative expense of the estate, severance pay owed to employees; establishes certain restrictions regarding the rejection or amendment of a collective bargaining agreement; revises specified procedures related to the reduction or denial of retiree benefits; requires a court, in approving a sale of business assets, to consider the extent to which a bidder has offered to maintain existing jobs and assume benefit obligations; and modifies other provisions. With respect to executive compensation, the bill: establishes specified limitations related to executive compensation enhancements, prohibits executives from receiving certain retiree benefits if such benefits were reduced or eliminated for other employees or retirees, and revises other requirements related to court approval of such compensation. In addition, the bill grants creditor status to labor organizations for purposes of filing a proof of claim.

Sponsors

Conyers, John, Jr.
Sponsor

Conyers, John, Jr.

Democratic · MI-13 · C000714

Joined Jan 3, 2017
Website
N/A
Phone
N/A
Office
N/A

Amendments

No amendment records are currently available for this bill.
Compiled bill record. Bill pages combine Congress.gov source payloads, normalized relationships, cached text analysis, vote links, and deterministic sector/signal extraction. This is not an official government record or legal advice; use the official source link when accuracy matters.