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HR 7494 117th Congress House Finance and Financial Sector

Bankruptcy Threshold Adjustment and Technical Corrections Act

Introduced: April 11, 2022 Introduced by: Neguse, Joe Democratic · Colorado See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 1, 2022
Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
Apr 11, 2022
Referred to the House Committee on the Judiciary.
Apr 11, 2022
Introduced in House
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 Plain-English summary Congressional Research Service

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.)

What's happening now November 1, 2022

Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

 Related & companion bills 3
  • HR 5939 Related bill Small Business Reorganization Technical Corrections Act
  • S 2679 Related bill Small Business Reorganization Technical Corrections Act
  • S 3823 Related bill Bankruptcy Threshold Adjustment and Technical Corrections Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1
R
Cline, Ben
Virginia · Apr 11, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7494: Bankruptcy Threshold Adjustment and Technical Corrections Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-7494/
MLA
"H.R. 7494: Bankruptcy Threshold Adjustment and Technical Corrections Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-7494/.
Bluebook (legal)
H.R. 7494, 117th Cong. (2026), https://openamerica.io/bill/117-HR-7494/.
Markdown link
[H.R. 7494: Bankruptcy Threshold Adjustment and Technical Corrections Act](https://openamerica.io/bill/117-HR-7494/)
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