Legislation

Legislation - March 2021

Improvements Rolled Out by the Bankruptcy Administration Improvement Act of 2020

On Jan. 12, 2021, President Donald J. Trump signed the “Bankruptcy Administration Improvement Act of 2020” into law. The bipartisan legislation was introduced in the Senate by Sen. Lindsey Graham (R-S.C.) and cosponsored by Sens. Christopher A. Coons (D-Del.), Marco Rubio (R-Fla.), Benjamin L. Cardin (D-Md.), Marsha Blackburn (R-Tenn.) and Thomas R. Carper (D-Del.). The Bankruptcy Administration Improvement Act of 2020 moved quickly through Congress, with passage in the Senate on Dec. 9, 2020, and passage in the House on Dec. 21, 2020.

H.R. 133, Consolidated Appropriations Act

H.R. 133, the Consolidated Appropriations Act of 2021, is a proposed $2.3 trillion spending bill that combines $900 billion in stimulus relief for the COVID-19 pandemic in the United States with a $1.4 trillion omnibus spending bill for the 2021 federal fiscal year. On Dec. 21, 2020, by a vote of 92-6, the Senate approved the House amendment to the Senate amendments, thus formally resolving the two chambers’ differences on the bill. On Dec. 24, 2020, H.R. 133 was formally presented to the President for signature; on Dec. 27, 2020, the President formally signed H.R. 133 into law.

Legislation 2021 Co-Chair Corner

https://abi-org.s3.amazonaws.com/Committees/Newsletters/Legislation/202…

https://connect.abi.org/webmail/107412/720903514/0559c3a0f45ca40da3ece0…

HEALS Act Summary

The Senate GOP’s proposed coronavirus relief legislation package, commonly known as the HEALS Act, contains numerous provisions that will be of especial import to insolvency professionals. The HEALS Act is comprised of eight smaller bills targeting specific areas of concern. Please click here to find out more.

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