A bill to amend the bankruptcy law to provide for special revenue bonds, and for other purposes.

Summary

Amends Federal bankruptcy provisions relating to the adjustment of debts of a municipality to revise rules relating to the treatment of special revenue bonds. Treats as an administrative expense any claim against a debtor municipality if the debtor provides adequate protection of the interest of the holder of a claim secured by a lien on property of the debtor and if the creditor has a claim from a stay of action against such property. Specifies that the filing of a bankruptcy petition does not operate as a stay of application of pledged special revenues to payment of indebtedness secured by such revenues. Provides that the holder of a claim payable solely from special revenues of a debtor municipality under applicable nonbankruptcy law shall not be treated as having recourse against the debtor as an unsecured creditor. Specifies that the transfer of property of the debtor to or for the benefit of any holder of a bond or note, on account of such bond or note, may not be avoided. Provides that special revenues acquired by the debtor after the commencement of the case shall remain subject to any lien resulting from any security agreement entered into by the debtor before the commencement of the case. Specifies that any such lien on special revenues derived from a project or system shall be subject to the necessary operating expenses of such project or system. Specifies that a lease to a municipality shall not be treated as an executory contract or unexpired lease by reason of its being subject to termination in the event the debtor fails to appropriate rent.

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

Timeline

1. 12 November 1987

   Introduced

   Read twice and referred to the Committee on Judiciary.

   Source: IntroReferral

2. 12 November 1987

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 23 November 1987

   Referred

   Referred to Subcommittee on Courts and Administrative Practice.

   Source: Committee

4. 10 June 1988

   Committee

   Subcommittee on Courts and Administrative Practice. Hearings held.

   Source: Committee

5. 9 August 1988

   Committee

   Subcommittee on Courts and Administrative Practice. Approved for full committee consideration with an amendment favorably.

   Source: Committee

6. 10 August 1988

   Reported

   Committee on Judiciary. Ordered to be reported with an amendment favorably.

   Source: Committee

7. 14 September 1988

   Calendars

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 930.

   Source: Calendars

8. 14 September 1988

   Reported

   Committee on Judiciary. Reported to Senate by Senator Biden with an amendment. With written report No. 100-506.

   Source: Committee

9. 14 September 1988

   Reported

   Committee on Judiciary. Reported to Senate by Senator Biden with an amendment. With written report No. 100-506.

   Source: Committee

10. 20 September 1988

    Floor

    Star Print ordered Senate report 100-506.

    Source: Floor

11. 20 September 1988

    Passed

    Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.

    Source: Floor

12. 23 September 1988

    Introduced

    Referred to House Committee on The Judiciary.

    Source: IntroReferral

13. 23 September 1988

    Floor

    Message on Senate action sent to the House.

    Source: Floor

14. 27 September 1988

    Referred

    Referred to Subcommittee on Monopolies and Commercial Law.

    Source: Committee

15. 19 October 1988

    Passed

    Passed House (Amended) by Voice Vote.

    Source: Floor

16. 19 October 1988

    Passed

    Passed/agreed to in House: Passed House (Amended) by Voice Vote.

    Source: Floor

17. 19 October 1988

    Floor

    Called up by House Under Suspension of Rules.

    Source: Floor

18. 20 October 1988

    Floor

    Message on House action received in Senate and held at desk: House amendment to Senate bill.

    Source: Floor

19. 20 October 1988

    Passed

    Senate agreed to the House amendment by Voice Vote.

    Source: ResolvingDifferences

20. 20 October 1988

    Passed

    Resolving differences -- Senate actions: Senate agreed to the House amendment by Voice Vote.

    Source: NotUsed

21. 27 October 1988

    Floor

    Presented to President.

    Source: Floor

22. 27 October 1988

    President

    Presented to President.

    Source: President

23. 27 October 1988

    Floor

    Measure Signed in Senate.

    Source: Floor

24. 3 November 1988

    Became law

    Became Public Law No: 100-597.

    Source: President

25. 3 November 1988

    Became law

    Signed by President.

    Source: BecameLaw

26. 3 November 1988

    President

    Signed by President.

    Source: President

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Public Law (PDF)

  Public Law · EN · 4 November 1988

  ViewDownloadOpen at official source

• Passed House amended

  summary · EN · 19 October 1988

  Open at official source

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• Introduced in Senate

  summary · EN · 12 November 1987

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. DeConcini, Dennis [D-AZ] · D · Sponsor
• Sen. Simon, Paul [D-IL] · D · Sponsor
• Sen. Heflin, Howell [D-AL] · D · Sponsor
• · hsju00 · Standing
• · ssju00 · Standing

Related records

• related to → Intellectual Property Antitrust Protection Act of 1988

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