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United States · Bill · HR

H.R. 138 (115th)

Protecting Employees and Retirees in Business Bankruptcies Act of 2017

passedUnited States· United States Congress· EN

Introduced

3 January 2017

Last action

15 March 2018 · Passed

Status

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.

Sponsors

Rep. Conyers, John, Jr. [D-MI-13], Rep. Cohen, Steve [D-TN-9], Rep. Johnson, Henry C. "Hank" [D-GA-4], Rep. Deutch, Theodore E. [D-FL-22], Rep. Jackson Lee, Sheila [D-TX-18]

Subjects

Discovery layer

Source updated

10 December 2025

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Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 3 January 2017

    Introduced

    Referred to the House Committee on the Judiciary.

    Source: IntroReferral

  2. 3 January 2017

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 3 January 2017

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 23 January 2017

    Referred

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

    Source: Committee

  5. 15 March 2018

    Passed

    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.

    Source: Floor

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 3 January 2017

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  • Introduced in House (PDF)

    Introduced in House · EN · 3 January 2017

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  • Introduced in House

    summary · EN · 3 January 2017

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Sponsors

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Sources

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