[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2326 Introduced in House (IH)]
103d CONGRESS
1st Session
H. R. 2326
To amend title 11 of the United States Code with respect to cases under
chapter 13, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
May 27, 1993
Mr. Synar (for himself, Mr. Boucher, Mr. Kopetski, Mr. Hyde, Mr.
Bacchus of Florida, Mr. Kanjorski, Mr. Pomeroy, Mr. McCurdy, Mr. Burton
of Indiana, Mr. Roth, Mr. Schiff, Mr. Ramstad, Mr. Sangmeister, Mr.
Goodlatte, Mr. Hayes, Mr. Roemer, and Mr. Frank of Massachusetts)
introduced the following bill; which was referred to the Committee on
the Judiciary
_______________________________________________________________________
A BILL
To amend title 11 of the United States Code with respect to cases under
chapter 13, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Bankruptcy Amendments of 1993''.
SEC. 2. AMENDMENTS.
(a) Who May Be a Debtor Under Chapter 13.--Section 109(e) of title
11, United States Code, is amended--
(1) by striking ``, unsecured debts of less than $100,000
and noncontingent, liquidated, secured debts of less than
$350,000'' and inserting ``debts of less than $1,000,000'', and
(2) by striking ``, unsecured debts that aggregate less
than $100,000 and noncontingent, liquidated, secured debts of
less than $350,000'' and inserting ``debts of less than
$1,000,000''.
(b) Automatic Stay.--The last sentence of section 362(e) of title
11, United States Code, is amended--
(1) by striking ``commenced'' and inserting ``concluded'',
and
(2) by inserting before the period at the end the
following:
``unless the 30-day period is extended with the consent of the parties
in interest or for a specific time that the court finds is required by
compelling circumstances''.
(c) Exemptions.--(1) Section 522(a) of title 11, United States
Code, is amended--
(A) in paragraph (1) by striking ``and'' at the end,
(B) by redesignating paragraph (2) as paragraph (3), and
(C) by inserting after paragraph (1) the following:
``(2) `household goods' means furnishings, appliances,
linens, china, cookery, kitchenware, and personal effects, but
does not include--
``(A) works of art;
``(B) electronic entertainment equipment other than
one television and one radio;
``(C) jewelry (other than wedding and engagement
rings); and
``(D) antiques purchased by the debtor; and''.
(2) Section 522(d)(3) of title 11, United States Code, is amended--
(A) by striking ``household furnishings,'', and
(B) by striking ``appliances,''.
(3) Section 522(f)(2) of title 11, United States Code, is amended--
(A) by striking ``household furnishings,'', and
(B) by striking ``appliances,''.
(d) Exceptions to Discharge.--Section 523(a) of title 11, United
States Code, is amended--
(1) in paragraph (2)--
(A) by amending subparagraph (A) to read as
follows:
``(A) actual fraud, use of a credit card or other
access device to a revolving line of credit without the
intent to repay, or false pretenses or false
representations made or published with reckless
disregard for their truth or accuracy;''
(B) in subparagraph (B)(iv) by striking ``intent to
deceive'' and inserting ``reckless disregard for its
truth or accuracy'', and
(C) in subparagraph (C)--
(i) by striking ``$500'' and inserting
``$100'', and
(ii) by striking ``forty days'' and
inserting ``60 days'', and
(2) by amending paragraph (6) to read as follows:
``(6) for injury to another entity or property of another
entity resulting from the debtor's reckless disregard of such
entity's right or property interests;''.
(e) Effect of Discharge.--The third sentence of section 524(d) of
title 11, United States Code, is amended in the matter preceding
paragraph (1) by inserting ``and was not represented by an attorney
during the course of negotiating such agreement'' after ``this
section''.
(f) Preferences.--Section 547(c)(3)(B) of title 11, United States
Code, is amended by striking ``10'' and inserting ``20''.
(g) Contents of Plan.--Section 1322(b)(2) of title 11, United
States Code, is amended to read as follows:
``(2) modify the rights of the holders of secured claims,
but the plan may not modify a claim pursuant to section 506 of
a person holding a senior or a junior security interest in real
property that is the debtor's principal residence, except that
the plan may modify the claim of a person holding such a junior
security interest that was undersecured at the time the
interest attached to the extent that the interest remains
undersecured;''.
(h) Contents of Plan.--(1) Section 1322(c) of title 11, United
States Code, is amended to read as follows:
``(c) The plan may not provide for payments over a period that is
longer than 5 years.''.
(2) Section 1325(b)(1)(B) of title 11, United States Code, is
amended by striking ``three-year'' and inserting ``5-year''.
(3) Section 1329(c) of title 11, United States Code, is amended to
read as follows:
``(c) A plan modified under this section may not provide for
payments over a period that expires more than 5 years after the date
that the first payment under the original confirmed plan was due.''.
(i) Confirmation Hearing.--Section 1324 of title 11, United States
Code, is amended--
(1) by striking ``After'' and inserting ``(a) Except as
provided in subsection (b) and after'', and
(2) by adding at the end the following:
``(b) If a creditor objects not later than 5 days after receiving
notice of a hearing on confirmation of the plan, the hearing on
confirmation of the plan may be held only after the expiration of the
10-day period beginning on the date of the first meeting of creditors
under section 341(a).''.
(j) Payments.--Section 1326(c) of title 11, United States Code, is
amended by inserting ``timely'' after ``payments''.
SEC. 3. ANNUAL COMPILATION OF STATISTICAL INFORMATION REGARDING
BANKRUPTCY CASES.
Not later than June 30 of each year, the Administrative Office of
the United States Courts shall compile and make available to the public
statistical information with respect to cases in which a discharge is
entered under title 11 of the United States Code in the preceding
calendar year. Such information shall include--
(1) the liabilities and value of assets of the debtors in
such cases as of the order for relief,
(2) the monthly income and living expenses of such debtors,
as estimated by such debtors,
(3) the aggregate amount of debts discharged, and the
aggregate payments made to creditors, as of the date of
discharge, and
(4) the time elapsed between the filing of such cases and
the date of the first payment to a creditor under a plan
confirmed in such cases.
SEC. 4. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.
(a) Effective Date.--Except as provided in subsection (b), this Act
and the amendments made by this Act shall take effect on the date of
the enactment of this Act.
(b) Application of Amendments.--The amendments made by this Act
shall not apply with respect to cases commenced under title 11 of the
United States Code before the date of the enactment of this Act.
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