To amend title 28, United States Code, to modify venue requirements relating to bankruptcy proceedings.
Summary
What This Bill Does
The bill imposes findings and purpose Congress finds that— bankruptcy law provides a number of venue options for filing bankruptcy under chapter 11 of title 11, United States Code, including, with respect to the entity filing, creates venue of cases under title 11 Title 28, United States Code, is amended— by striking section 1408 and inserting the following: 1408.Venue of cases under title 11(a)Principal place of business with respect, and requires venue of cases under title 11 Except as provided in paragraph (2), for the purposes of this section, if an entity is subject to the reporting requirements of section 13 or 15(d) of the Securities Exchange. It relies on compliance mandates, definition changes, grants, and reporting requirements. The main policy areas are Finance, Financial Services, Criminal Justice, and Foreign Policy.
Who Benefits and How
Public beneficiaries or protected communities affected by the clause could face reduced risk, Law enforcement, justice-system actors, and affected communities could gain revenue opportunities, and Financial services firms and customers affected by the bill could gain revenue opportunities.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Financial services firms and customers affected by the bill would take on compliance duties, and Businesses and employers affected by the bill would take on compliance duties.
Key Provisions
- Imposes findings and purpose Congress finds that— bankruptcy law provides a number of venue options for filing bankruptcy under chapter 11 of title 11, United States Code, including, with respect to the entity filing...
- Creates venue of cases under title 11 Title 28, United States Code, is amended— by striking section 1408 and inserting the following: 1408.Venue of cases under title 11(a)Principal place of business with respect...
- Requires venue of cases under title 11 Except as provided in paragraph (2), for the purposes of this section, if an entity is subject to the reporting requirements of section 13 or 15(d) of the Securities Exchange...
- Creates change of venue Notwithstanding that a case or proceeding under title 11, or arising in or related to a case under title 11, is filed in the correct division or district, a district court may transfer the case...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill imposes findings and purpose Congress finds that— bankruptcy law provides a number of venue options for filing bankruptcy under chapter 11 of title 11, United States Code, including, with respect to the entity filing, creates venue of cases under title 11 Title 28, United States Code, is amended— by striking section 1408 and inserting the following: 1408.Venue of cases under title 11(a)Principal place of business with respect, and requires venue of cases under title 11 Except as provided in paragraph (2), for the purposes of this section, if an entity is subject to the reporting requirements of section 13 or 15(d) of the Securities Exchange.
Key Policy Areas
Finance, Financial Services, Criminal Justice, Foreign Policy
Primary Purpose
The bill imposes findings and purpose Congress finds that— bankruptcy law provides a number of venue options for filing bankruptcy under chapter 11 of title 11, United States Code, including, with respect to the entity filing, creates venue of cases under title 11 Title 28, United States Code, is amended— by striking section 1408 and inserting the following: 1408.Venue of cases under title 11(a)Principal place of business with respect, and requires venue of cases under title 11 Except as provided in paragraph (2), for the purposes of this section, if an entity is subject to the reporting requirements of section 13 or 15(d) of the Securities Exchange.
Policy Domains
Whole bill
Identified Gains
- Public beneficiaries or protected communities affected by the clause
- Law enforcement, justice-system actors, and affected communities
- Financial services firms and customers affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Financial services firms and customers affected by the bill
- Businesses and employers affected by the bill
- Law enforcement, justice-system actors, and affected communities
- Foreign businesses and cross-border trade participants affected by the bill
Sponsors
Zoe Lofgren
D-CA | Primary Sponsor
Legislative Progress
IntroducedMs. Lofgren (for herself and Mr. Buck) introduced the following …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Law enforcement, justice-system actors, and affected communities
Law enforcement, justice-system actors, and affected communities faces effects in multiple directions
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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