legislation: 117-s-5097

Congressional bills and resolutions from Congress.gov, filtered to policy areas relevant to environmental, health, agriculture, and wildlife regulation.

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
117-s-5097 117 s 5097 SLAP Act Finance and Financial Sector 2022-11-15 2022-11-15 Read twice and referred to the Committee on the Judiciary. Senate Sen. Manchin, Joe, III [D-WV] WV D M001183 0 Stop Looting American Pensions Act of 2022 or the SLAP Act This bill revises certain bankruptcy requirements, including by providing additional protections for employee pay and pensions in the event of a bankruptcy. Specifically, the bill revises the bankruptcy priority requirements of claims for wages and contributions to employee benefit plans, including by increasing the cap of these payments and by eliminating the time period limitation for which unpaid wages and contributions may be claimed; increases the bankruptcy priority of minimum funding contributions towards employee pension benefit plans and withdrawal liability and requires companies to continue making these payments during bankruptcy; expands restrictions on executive pay; places restrictions on the sale of property in bankruptcy proceedings, including by requiring reasonable payment; and extends look back periods regarding fraudulent transfers from two years to six years. 2023-02-22T07:25:20Z https://www.congress.gov/bill/117th-congress/senate-bill/5097

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