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RS20780: Issues in Consumer Bankruptcy Reform Before the 107th Congress [i] (July 24, 2001)

handle is hein.bank/crsbank0035 and id is 1 raw text is: RS20780: Issues in Consumer Bankruptcy Reform Before the 107th Congress Robin Jeweler Legislative Attorney American Law Division Updated February 9, 2001 Summary Bankruptcy reform legislation has been reintroduced in the 107th Congress and appears to be on a fast track for consideration and possible enactment. S. 220 was introduced on January 30, 2001 and H.R. 333, entitled the Bankruptcy Abuse Prevention and Consumer Protection Act of 2001 was introduced on January 31. Both bills are essentially the same as H.R. 2415, which passed the Congress last year but was subject to a pocket veto. The bills have already been the subject of hearings by the Senate and House Judiciary Committees which have tentatively scheduled mark-ups for the week of February 12. This report examines several issues that have been prominent in the debate over consumer bankruptcy reform during the last two congresses and are likely to be revisited in the 107th Congress. Considered is the proposal to impose a federal cap on the bankruptcy homestead exemption; amending the Bankruptcy Code to make liability incurred in connection with violence at reproductive health clinics nondischargeable; the effect of bankruptcy reform on debtors' child support obligations; and the linkage of the treatment of credit card debt in bankruptcy to credit marketing and lending practices under the Truth in Lending Act. Background. Shortly before the close of the first session of the 105th Congress - and shortly before the National Bankruptcy Review Commission issued its report recommending changes to the law-L - legislation was introduced to dramatically change the manner in which consumer bankruptcies are administered under the U.S. Bankruptcy Code, 11 U.S.C. § 101 et seq. Both the House and Senate enacted different versions of H.R. 3150, 105th Congress, 2d Sess. (1998). A conference report was filed.-L The House agreed to the conference report version of the bill by a vote of 300 to 125 on October 9, 1998. But the bill, which President Clinton had threatened to veto, was not brought before the Senate for a vote prior to adjournment. Legislation was reintroduced in the 106th Congress.-L The conference report to H.R. 2415, 106th Congress, 2d Sess. (2000)-L passed by the House by a voice vote,-L and the Senate by a vote of 70 to 28.-L President Clinton withheld his approval, Congress adjourned sine die, and the bill was pocket vetoed. The reform bills of the last several congresses have been comprehensive, with titles addressing small business and general business bankruptcies, including bankruptcy tax provisions. However, in contrast to consumer bankruptcy, the ability of businesses to file has not generated the legislative impetus to contain their numbers. Hence, the proposed amendments to business-related bankruptcies are more consistent with traditional bankruptcy practice and arguably less controversial. Some critics have suggested, however, that proposed business-related amendments, particularly those relating to small business and single-asset bankruptcies may be particularly burdensome to effective reorganization if an economic downturn drives up business bankruptcy filings. Legislation in the 107th Congress. S. 220 was introduced on January 30, 2001 .-L H.R. 333, entitled the Bankruptcy Abuse Prevention and Consumer Protection Act of 2001 was introduced on January 31. The bills are reported to be identical to the conference report on H.R. 2415 from the 106th Congress-L and have already been the subject of hearings by the Senate and House Judiciary Committees. They are tentatively scheduled for

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