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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
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Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

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)

Bill Actions

Date Description
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.