Find your legislators by address, ZIP code or name
H.R.100: Protecting Employees and Retirees in Business Bankruptcies Act of 2013
About this Bill
|This bill was introduced in the||113th Congress|
|This bill is primarily about||finance and financial sector|
|You can||read the bill|
|Sponsor||John Conyers Jr., D-Mich.|
|Total Cosponsors||13 (All Democrats)|
|Introduced||Jan. 3, 2013|
|Latest Major Action||Jan. 25, 2013|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the House
- Bill passed in the House
- Bill passed in the Senate
- Bill signed into law
Protecting Employees and Retirees in Business Bankruptcies Act of 2013 - Amends federal bankruptcy law governing expenses and claims to increase to $20,000: (1) allowed unsecured claims in the fourth order of priority (wages, salaries, or commissions); and (2) the factor multiplied by the number of employees covered with respect to employee benefit plan contributions in the fifth order of priority.
Includes within the scope of a claim in bankruptcy certain equity securities held in a defined contribution plan for the benefit of certain individuals, but only if an employer or plan sponsor who has commenced a case in bankruptcy has committed fraud regarding the plan or has otherwise breached a duty to the participant that has proximately caused the loss of value.
Allows as an administrative expense of the estate: (1) severance pay owed to certain employees of the debtor for layoff or termination (which pay shall be deemed earned in full), and (2) damages as a result o...
(Source: Congressional Research Service)
|Jan. 25, 2013||Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.|
|Jan. 3, 2013||Referred to the House Committee on the Judiciary.|