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Bankruptcy Threshold Adjustment and Technical Corrections Act

USA117th CongressHR-7494| House 
| Updated: 11/1/2022
Joe Neguse

Joe Neguse

Democratic Representative

Colorado

Cosponsors (1)
Ben Cline (Republican)

Administrative State, Regulatory Reform, and Antitrust Subcommittee, Judiciary Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Bankruptcy Threshold Adjustment and Technical Corrections Act This bill modifies provisions related to small business reorganization bankruptcies and wage earner's bankruptcies. Specifically, the bill extends for two years the increase of the amount of debt allowed to be carried by debtors to qualify for small business reorganization bankruptcy and provides that this debt limit is subject to adjustment for inflation. Additionally, it provides that a small business debtor includes a debtor that is an affiliate of certain publicly traded companies. Further, it authorizes the bankruptcy trustee to operate the business of the debtor if the debtor ceases to be a debtor in possession. The bill also increases for two years the debt limit for individuals filing for bankruptcy under Chapter 13 (i.e., the wage earner's plan) and allows both secured and unsecured debt to count towards this single limit. (Currently, separate limits apply to secured and unsecured debt.)
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Timeline
Apr 11, 2022
Introduced in House
Apr 11, 2022
Referred to the House Committee on the Judiciary.
Jun 21, 2022

Latest Companion Bill Action

S 117-3823
Signed by President.
Nov 1, 2022
Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
  • April 11, 2022
    Introduced in House


  • April 11, 2022
    Referred to the House Committee on the Judiciary.


  • June 21, 2022

    Latest Companion Bill Action

    S 117-3823
    Signed by President.


  • November 1, 2022
    Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Finance and Financial Sector

Related Bills

  • S 117-3823: Bankruptcy Threshold Adjustment and Technical Corrections Act
  • S 117-2679: Small Business Reorganization Technical Corrections Act
  • HR 117-5939: Small Business Reorganization Technical Corrections Act

Bankruptcy Threshold Adjustment and Technical Corrections Act

USA117th CongressHR-7494| House 
| Updated: 11/1/2022
Bankruptcy Threshold Adjustment and Technical Corrections Act This bill modifies provisions related to small business reorganization bankruptcies and wage earner's bankruptcies. Specifically, the bill extends for two years the increase of the amount of debt allowed to be carried by debtors to qualify for small business reorganization bankruptcy and provides that this debt limit is subject to adjustment for inflation. Additionally, it provides that a small business debtor includes a debtor that is an affiliate of certain publicly traded companies. Further, it authorizes the bankruptcy trustee to operate the business of the debtor if the debtor ceases to be a debtor in possession. The bill also increases for two years the debt limit for individuals filing for bankruptcy under Chapter 13 (i.e., the wage earner's plan) and allows both secured and unsecured debt to count towards this single limit. (Currently, separate limits apply to secured and unsecured debt.)
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Apr 11, 2022
Introduced in House
Apr 11, 2022
Referred to the House Committee on the Judiciary.
Jun 21, 2022

Latest Companion Bill Action

S 117-3823
Signed by President.
Nov 1, 2022
Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
  • April 11, 2022
    Introduced in House


  • April 11, 2022
    Referred to the House Committee on the Judiciary.


  • June 21, 2022

    Latest Companion Bill Action

    S 117-3823
    Signed by President.


  • November 1, 2022
    Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
Joe Neguse

Joe Neguse

Democratic Representative

Colorado

Cosponsors (1)
Ben Cline (Republican)

Administrative State, Regulatory Reform, and Antitrust Subcommittee, Judiciary Committee

Finance and Financial Sector

Related Bills

  • S 117-3823: Bankruptcy Threshold Adjustment and Technical Corrections Act
  • S 117-2679: Small Business Reorganization Technical Corrections Act
  • HR 117-5939: Small Business Reorganization Technical Corrections Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted