H.R. 10595
Stop Wall Street Looting Act
Official summary
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Text of the bill
I Corporate responsibility
II Anti-looting
III Protecting workers when companies go bankrupt
(a) Allowance of administrative expenses in bankruptcy cases. Section 503(b)(1)(A)(ii) of title 11, United States Code, is amended by inserting after (ii) the following: any back pay, civil penalty, or damages for a violation of any Federal or State labor and employment law, including the Worker Adjustment and Retraining Notification Act (29 U.S.C. 2101 et seq.) and any comparable State law, and.
(b) Administration and enforcement of worker adjustment and retraining notification requirements. Section 5(a)(1) of the Worker Adjustment and Retraining Notification Act (29 U.S.C. 2104(a)(1)) is amended, in the matter following subparagraph (B)—
(1) by inserting which for purposes of this sentence shall consist of the days, in the notification period, that are or that follow the date of the prohibited closing or layoff under this Act, after period of the violation,; and
(2) by inserting calendar after 60.
IV Closing tax loopholes
V Investor protection and market transparency
VI Restrictions on securitizing risky corporate debt
VII Miscellaneous