[Federal Register Volume 81, Number 34 (Monday, February 22, 2016)]
[Notices]
[Pages 8748-8749]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03607]
[[Page 8748]]
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JUDICIAL CONFERENCE OF THE UNITED STATES
Revision of Certain Dollar Amounts in the Bankruptcy Code
AGENCY: Judicial Conference of the United States.
ACTION: Notice.
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SUMMARY: Certain dollar amounts in title 11 and title 28, United States
Code, are increased.
FOR FURTHER INFORMATION CONTACT: Michele Reed, Chief, Judicial Services
Office, Administrative Office of the United States Courts, Washington,
DC 20544, Telephone (202) 502-1800, or by email at
[email protected].
SUPPLEMENTARY INFORMATION: Section 104(a) of title 11, United States
Code, provides the mechanism for an automatic three-year adjustment of
dollar amounts in certain sections of titles 11 and 28. Public Law 95-
598 (1978); Public Law 103-394 (1994); Public Law 109-8 (2005); and
Public Law 110-406 (2008). The provision states:
(a) On April 1, 1998, and at each 3-year interval ending April 1
thereafter, each dollar amount in effect under sections 101(3),
101(18), 101(19A), 101(51D), 109(e), 303(b), 507(a), 522(d), 522(f)(3)
and 522(f)(4), 522(n), 522(p), 522(q), 523(a)(2)(C), 541(b), 547(c)(9),
707(b), 1322(d), 1325(b)(3) and 1326(b)(3) of this title and section
1409(b) of title 28 immediately before such April 1 shall be adjusted -
(1) to reflect the change in the Consumer Price Index for All Urban
Consumers, published by the Department of Labor, for the most recent 3-
year period ending immediately before January 1 preceding such April 1,
and
(2) to round to the nearest $25 the dollar amount that represents
such change.
(b) Not later than March 1, 1998, and at each 3-year interval
ending on March 1 thereafter, the Judicial Conference of the United
States shall publish in the Federal Register the dollar amounts that
will become effective on such April 1 under sections 101(3), 101(18),
101(19A), 101(51D), 109(e), 303(b), 507(a), 522(d), 522(f)(3) and
522(f)(4), 522(n), 522(p), 522(q), 523(a)(2)(C), 541(b), 547(c)(9),
707(b), 1322(d), 1325(b), and 1326(b)(3) of this title and section
1409(b) of title 28.
(c) Adjustments made in accordance with subsection (a) shall not
apply with respect to cases commenced before the date of such
adjustments.
Revision of Certain Dollar Amounts in Bankruptcy Code
Notice is hereby given that the dollar amounts are increased in the
sections in title 11 and title 28, United States Code, as set out in
the following chart. These increases do not apply to cases commenced
before the effective date of the adjustments, April 1, 2016. Seven
Official Bankruptcy Forms, (106C, 107, 122A-2, 122C-2, 201, 207, and
410) and two Director's Forms (2000 and 2830), also will be amended to
reflect these adjusted dollar amounts.
Dated: February 16, 2016.
Michele Reed,
Chief, Judicial Services Office.
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Affected sections of Title 28 Dollar amount to New (adjusted)
U.S.C. and the Bankruptcy Code be adjusted dollar amount \1\
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28 U.S.C.
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Section 1409(b)--a trustee may
commence a proceeding arising
in or related to a case to
recover
(1)--money judgment of or $1,250............ $1,300.
property worth less than.
(2)--a consumer debt less $18,675........... $19,250.
than.
(3)--a non consumer debt $12,475........... $12,850.
against a non insider less
than.
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11 U.S.C.
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Section 101(3)--definition of $186,825.......... $192,450.
assisted person.
Section 101(18)--definition of $4,031,575 (each $4,153,150 (each
family farmer. time it appears). time it appears).
Section 101(19A)--definition of $1,868,200 (each $1,924,550 (each
family fisherman. time it appears). time it appears).
Section 101(51D)--definition of $2,490,925 (each $2,566,050 (each
small business debtor. time it appears). time it appears).
Section 109(e)--debt limits for $383,175 (each $394,725 (each
individual filing bankruptcy time it appears). time it appears)
under chapter 13.
$1,149,525 (each $1,184,200 (each
time it appears). time it appears).
Section 303(b)--minimum
aggregate claims needed for the
commencement of an involuntary
chapter 7 or 11 petition
(1)--in paragraph (1)....... $15,325........... $15,775.
(2)--in paragraph (2)....... $15,325........... $15,775.
Section 507(a)--priority
expenses and claims
(1)--in paragraph (4)....... $12,475........... $12,850.
(2)--in paragraph (5)(B)(i). $12,475........... $12,850.
(3)--in paragraph (6)(B).... $6,150............ $6,325.
(4)--in paragraph (7)....... $2,775............ $2,850.
Section 522(d)--value of
property exemptions allowed to
the debtor
(1)--in paragraph (1)....... $22,975........... $23,675.
(2)--in paragraph (2)....... $3,675............ $3,775.
(3)--in paragraph (3)....... $575.............. $600.
$12,250........... $12,625.
(4)--in paragraph (4)....... $1,550............ $1,600.
(5)--in paragraph (5)....... $1,225............ $1,250.
$11,500........... $11,850.
(6)--in paragraph (6)....... $2,300............ $2,375.
(7)--in paragraph (8)....... $12,250........... $12,625.
(8)--in paragraph (11)(D)... $22,975........... $23,675.
Section 522(f)(3)--exception to $6,225............ $6,425.
lien avoidance under certain
state laws.
[[Page 8749]]
Section 522(f)(4)--items $650 (each time it $675 (each time it
excluded from definition of appears). appears).
household goods for lien
avoidance purposes.
Section 522(n)--maximum $1,245,475........ $1,283,025.
aggregate value of assets in
individual retirement accounts
exempted.
Section 522(p)--qualified $155,675.......... $160,375.
homestead exemption.
Section 522(q)--state homestead $155,675.......... $160,375.
exemption.
Section 523(a)(2)(C)--exceptions
to discharge
(1)--in paragraph (i)(I)-- $650.............. $675.
consumer debts for luxury
goods or services incurred
< 90 days before filing
owed to a single creditor
in the aggregate.
(2)--in paragraph (i)(II)-- $925.............. $950.
cash advances incurred < 70
days before filing in the
aggregate.
Section 541(b)--property of the
estate exclusions
(1)--in paragraph (5)(C)-- $6,225............ $6,425.
education IRA funds in the
aggregate.
(2)--in paragraph (6)(C)-- $6,225............ $6,425.
pre-purchased tuition
credits in the aggregate.
Section 547(c)(9)--preferences, $6,225............ $6,425.
trustee may not avoid a
transfer if, in a case filed by
a debtor whose debts are not
primarily consumer debts, the
aggregate value of property is
less than.
Section 707(b)--dismissal of a
chapter 7 case or conversion to
chapter 11 or 13 (means test)
(1)--in paragraph $7,475............ $7,700.
(2)(A)(i)(I).
(2)--in paragraph $12,475........... $12,850.
(2)(A)(i)(II).
(3)--in paragraph $1,875............ $1,925.
(2)(A)(ii)(IV).
(4)--in paragraph $7,475............ $7,700.
(2)(B)(iv)(I).
(5)--in paragraph $12,475........... $12,850.
(2)(B)(iv)(II).
(6)--in paragraph (5)(B).... $1,250............ $1,300.
(7)--in paragraph (6)(C).... $675.............. $700.
(8)--in paragraph $675.............. $700.
(7)(A)(iii).
Section 1322(d)--contents of $675 (each time it $700 (each time it
chapter 13 plan, monthly income. appears). appears).
Section 1325(b)--chapter 13 $675 (each time it $700 (each time it
confirmation of plan, appears). appears).
disposable income.
Section 1326(b)(3)--payments to $25............... $25.
former chapter 7 trustee.
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\1\ The New (Adjusted) Dollar Amounts reflect a 3.016 percent increase,
rounded to the nearest $25.
[FR Doc. 2016-03607 Filed 2-19-16; 8:45 am]
BILLING CODE 2210-55-P