CLLA Update-Family Farmer Bankruptcy Clarification Act (S 194)
Sharon Edmondson, Washington Legislative Team Member | February 02, 2015
Senators Grassley (R-IA) and Schumer (D-NY) have introduced the “Family Farmer Bankruptcy Clarification Act” (S.194). The bill will amend title 11 of the United States Code to clarify the rule allowing discharge as a non-priority claim of governmental claims arising from the disposition of farm assets under chapter 12 bankruptcies.
The bill has been referred to the Senate Judiciary Committee. Full text of the legislation may be found here