S. 3545: Family Farmer Bankruptcy Tax Clarification Act of 2012

112th Congress · introduced 2012-09-13 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6343)

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Where it came from: introduced 2012-09-13 · official record
Who proposed it: Sen. Grassley, Chuck [R-IA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6343) Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Family Farmer Bankruptcy Tax Clarification Act of 2012

Plain summary

Family Farmer Bankruptcy Tax Clarification Act of 2012 - Amends chapter 12 (Debt Adjustment of a Family Farmer or Fisherman with Regular Annual Income) of federal bankruptcy law to revise the exclusion from the requirement of full payment under a discharged debtor's plan of any claim owed to a governmental unit arising as a result of the sale, transfer, exchange, or other disposition of a farm asset used in the debtor's farming operation (in which case the claim is treated as unsecured and not entitled to priority payment). Requires the debtor's plan to provide for: (1) the treatment as a non-priority unsecured claim of any claim owed to a governmental unit by the debtor or the estate arising as a result of the sale, transfer, exchange, or other disposition of a farm asset; but also (2) the payment of that claim. Repeals the precondition that such treatment may be made only if the debtor receives a discharge in bankruptcy. Authorizes a governmental unit to file postpetition claims relating to the disposition of farm assets. Authorizes the trustee or the debtor, also, to file such postpetition claims (including a claim for a tax for which a return is due) if the governmental unit has not filed by a specified deadline. Authorizes modification of the bankruptcy plan after its confirmation in order to provide for the payment of a non-priority unsecured claim presented by a governmental unit that arose after the petition filing date.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

Family Farmer Bankruptcy Tax Clarification Act of 2012

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Grassley, Chuck [R-IA] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Sen. Grassley, Chuck [R-IA] reported raising $527,998 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s3545.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>

Record fed-us-cong112-s3545 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112