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S 3823 117th Congress Senate Finance and Financial Sector Bankruptcy Corporate finance and management Inflation and prices Small business

Bankruptcy Threshold Adjustment and Technical Corrections Act

Introduced: March 14, 2022 Introduced by: Grassley, Chuck Republican · Iowa See on congress.gov
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 Everywhere this bill has been 20 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 21, 2022
Became Public Law No: 117-151.
Jun 21, 2022
Signed by President.
Jun 9, 2022
Presented to President.
Jun 7, 2022
Motion to reconsider laid on the table Agreed to without objection.
Jun 7, 2022
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 392 - 21 (Roll no. 234). (text: CR H5260-5261)
Jun 7, 2022
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 392 - 21 (Roll no. 234).
Jun 7, 2022
Considered as unfinished business. (consideration: CR H5322-5323)
Jun 7, 2022
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Jun 7, 2022
DEBATE - The House proceeded with forty minutes of debate on S. 3823.
Jun 7, 2022
Considered under suspension of the rules. (consideration: CR H5260-5262)
Jun 7, 2022
Mr. Neguse moved to suspend the rules and pass the bill.
Apr 11, 2022
Held at the desk.
Apr 11, 2022
Received in the House.
Apr 8, 2022
Message on Senate action sent to the House.
Apr 7, 2022
Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S2081)
Apr 7, 2022
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text of amendment in the nature of a substitute: CR S2081)
Apr 7, 2022
Measure laid before Senate by unanimous consent. (consideration: CR S2081-2082)
Apr 7, 2022
Senate Committee on the Judiciary discharged by Unanimous Consent.
Mar 14, 2022
Read twice and referred to the Committee on the Judiciary.
Mar 14, 2022
Introduced in Senate
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Jun 7, 2022 House · vote #234 On Motion to Suspend the Rules and Pass Passed 392–21 See who voted →
 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 June 21, 2022

Became Public Law No: 117-151.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 2 Republican 1