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EconomyH.R. 7730Comments

Bankruptcy Threshold Adjustment Act

Official title: To amend title 11, United States Code, to modify certain bankruptcy eligibility requirements, and for other purposes.

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Where the Bill Stands

  1. Introduced, done
  2. Committee, done
  3. Floor Vote, done
  4. Outcome, shown after you vote

What This Bill Does

This bill restores changes that expired in 2024 applicable to debt limits for Subchapter V (small business reorganization) and Chapter 13 (the wage earner's plan) bankruptcies.

Specifically, the bill increases the debt limit under Subchapter V from approximately $3.4 million to $7.5 million and increases the cumulative debt limit under Chapter 13 from approximately $2.1 million to $2.75 million.

The bill also applies both secured and unsecured debt towards the Chapter 13 limit. (Currently, separate limits apply to secured and unsecured debt under Chapter 13 bankruptcy.)

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Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. SenatePassed Senate without amendment by Unanimous Consent. (consideration: CR S5123)
  2. Passed Congress
  3. SenateReceived in the Senate, read twice.
  4. House floor actionsMr. Cline moved to suspend the rules and pass the bill, as amended.
  5. Library of CongressPassed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
  6. Floor Vote
  7. House floor actionsReported (Amended) by the Committee on Judiciary. H. Rept. 119-783.
  8. House committee actionsCommittee Consideration and Mark-up Session Held
  9. Library of CongressIntroduced in House
  10. House floor actionsReferred to the House Committee on the Judiciary.
  11. Introduced
  12. Committee

Comments

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