Taxpayer Recovery Act of 1990

Summary

Taxpayer Recovery Act of 1990 - Amends the Federal bankruptcy code to exempt from a bankruptcy discharge: (1) a criminal restitution order issued against a person who has caused loss to a financial institution; (2) an order for damages arising from fraud or reckless disregard for the law involving a financial institution; and (3) judgments obtained by the FDIC against officers and directors for breach of fiduciary duty. Extends from 60 to 120 days the time during which an objection to a discharge in bankruptcy petition may be filed. Restricts to $7,500 the amount of real estate or insurance assets which may be shielded under the homestead exemption to the bankruptcy code.

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Timeline

1. 24 January 1990

   Introduced

   Read twice and referred to the Committee on Judiciary.

   Source: IntroReferral

2. 24 January 1990

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 6 February 1990

   Referred

   Referred to Subcommittee on Courts and Administrative Practice.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · undated · Official file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 24 January 1990

  Open at official source

Sponsors

• Sen. Dole, Robert J. [R-KS] · R · Sponsor
• Sen. Kassebaum, Nancy Landon [R-KS] · R · Sponsor
• Sen. Simpson, Alan K. [R-WY] · R · Sponsor
• Sen. Boschwitz, Rudy [R-MN] · R · Sponsor
• Chuck Grassley · R · Sponsor
• Sen. Thurmond, Strom [R-SC] · R · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• Sen. Bryan, Richard H. [D-NV] · D · Cosponsor
• Sen. McCain, John [R-AZ] · R · Cosponsor
• Sen. Gorton, Slade [R-WA] · R · Cosponsor
• Sen. Hatfield, Mark O. [R-OR] · R · Cosponsor
• Sen. Coats, Daniel [R-IN] · R · Cosponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Cosponsor
• Sen. DeConcini, Dennis [D-AZ] · D · Cosponsor
• Sen. Wallop, Malcolm [R-WY] · R · Cosponsor
• Sen. Wilson, Pete [R-CA] · R · Cosponsor
• Sen. Durenberger, Dave [R-MN] · R · Cosponsor
• Sen. D'Amato, Alfonse [R-NY] · R · Cosponsor
• Mitch McConnell · R · Cosponsor
• · ssju00 · Standing

Related records

• related to → Taxpayer Recovery Act of 1990