117th Congress > House > Vote 681

Date: June 07, 2022

Result: 392-21 (Passed)

Clerk session vote number: 234

Bill number: S3823

Question: On Motion to Suspend the Rules and Pass

Description: Bankruptcy Threshold Adjustment and Technical Corrections Act

Bill summary: 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 makes permanent 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 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.)

Bill titles: A bill to amend title 11, United States Code, to modify the eligibility requirements for a debtor under chapter 13, and for other purposes.

Links for more info on the vote: congress.gov

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