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Consumer Provisions in the Bankruptcy Reform Act of 1999: H.R. 833 and S. 625, August 9, 1999 1 (August 9, 1999)

handle is hein.bank/crsbank0026 and id is 1 raw text is: Order Code RS20128 Updated August 9, 1999 Consumer Provisions in the Bankruptcy Reform Act of 1999: H.R. 833 and S. 625 Robin Jeweler Legislative Attorney American Law Division Summary Bankruptcy reform bills comparable to legislation considered in the 105th Congress were reintroduced early in the 106th Congress. H.R. 833, the Bankruptcy Reform Act of 1999 was introduced on Feb. 24, 1999. The Senate version, S. 625, was introduced on March 16, 1999. Both bills would effect wide-ranging amendments to the U.S. Bankruptcy Code. With respect to consumer bankruptcy, H.R. 833 would impose a means test to determine debtor eligibility to liquidate under chapter 7. Debtors who do not qualify would be required to reorganize under chapter 13, or refrain from filing. S. 625 is not identical to H.R. 833. Senate sponsors point to a more liberal means test for chapter 7 filers and additional provisions intended to protect consumers. The Senate Judiciary committee reported S. 625 favorably on April 27, 1999 by a vote of 14-4. Many of the controversial issues that were not addressed in committee are likely to be debated on the floor and resolved through amendments to the bill. The House passed its version of bankruptcy reform, H.R. 833, on May 5, 1999 by a vote of 313-108. The bill, a manager's amendment to H.R. 833, is similar to H.R. 3150, passed by the House during the 105th Congress, although several amendments were adopted. The President has threatened to veto the Bankruptcy Reform Act if it is enacted in a form comparable to H.R. 833 as passed by the House. CRS will update this report. Legislative history in the 105th Congress. Shortly before the close of the second session of the 105th Congress, legislation which would have dramatically changed 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 was agreed to and a report Congressional Research Service *° The Library of Congress CRS Report for Congress Received through the CRS Web

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