[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1998 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 1998

    To amend title 11 of the United States Code to provide for the 
                 adjustment of certain dollar amounts.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 5, 1993

  Mr. Edwards of California introduced the following bill; which was 
               referred to the Committee on the Judiciary

_______________________________________________________________________

                                 A BILL


 
    To amend title 11 of the United States Code to provide for the 
                 adjustment of certain dollar amounts.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Bankruptcy Inflation Adjustment 
Amendments of 1993''.

SEC. 2. FUTURE AUTOMATIC ADJUSTMENT OF CERTAIN DOLLAR AMOUNTS.

    Section 104 of title 11, United States Code, is amended--
            (1) by inserting ``(a)'' before ``The'', and
            (2) by adding at the end the following:
    ``(b)(1) On April 1, 1998, and at each 5-year interval ending on 
April 1 thereafter, each dollar amount in effect under sections 109(e), 
303(b), 507(a), and 522(d) immediately before such April 1 shall be 
adjusted--
            ``(A) to reflect the change in the Consumer Price Index For 
        All Urban Consumers, published by the Department of Labor, for 
        the most recent 5-year period ending immediately before January 
        1 preceding such April 1, and
            ``(B) to round to the nearest $25 the dollar amount that 
        represents such change.
    ``(2) Not later than March 1, 1998, and at each 5-year interval 
ending on March 1 thereafter, the Judicial Conference of the United 
States shall publish in the Federal Register the dollar amounts that 
will become effective on such April 1 under sections 109(e), 303(b), 
507(a), and 522(d) of this title.
    ``(3) Adjustments made in accordance with paragraph (1) shall not 
apply with respect to cases commenced before the date of such 
adjustments.''.

SEC. 3. CURRENT DOLLAR ADJUSTMENTS.

    (a) Who May Be a Debtor Under Chapter 13.--Section 109(e) of title 
11, United States Code, is amended--
            (1) by striking ``unsecured debts of less than $100,000 and 
        noncontingent, liquidated, secured debts of less than 
        $350,000'' and inserting ``debts of less than $1,000,000 
        (adjusted in accordance with section 104(b)(1))'', and
            (2) by striking ``unsecured debts that aggregate less than 
        $100,000 and noncontingent, liquidated, secured debts of less 
        than $350,000'' and inserting ``debts in the aggregate of less 
        than $1,000,000 (adjusted in accordance with section 
        104(b)(1))''.
    (b) Involuntary Cases.--Section 303(b) of title 11, United States 
Code, is amended--
            (1) in paragraph (1) by striking ``$5,000'' and inserting 
        ``$10,000 (adjusted in accordance with section 104(b)(1))'', 
        and
            (2) in paragraph (2) by striking ``$5,000'' and inserting 
        ``$10,000 (adjusted in accordance with section 104(b)(1))''.
    (c) Priorities.--Section 507(a) of title 11, United States Code, is 
amended--
            (1) in paragraph (3)(B) by striking ``$2,000'' and 
        inserting ``$4,000 (adjusted in accordance with section 
        104(b)(1))'',
            (2) in paragraph (4)(B)(i) by striking ``$2,000'' and 
        inserting ``$4,000 (adjusted in accordance with section 
        104(b)(1))'',
            (3) in paragraph (5) by striking ``$2,000'' and inserting 
        ``$4,000 (adjusted in accordance with section 104(b)(1))'', and
            (4) in paragraph (6) by striking ``$900'' and inserting 
        ``$1,800 (adjusted in accordance with section 104(b)(1))''.
    (d) Exemptions.--Section 522(d) of title 11, United States Code, is 
amended--
            (1) in paragraph (1) by striking ``$7,500'' and inserting 
        ``$15,000 (adjusted in accordance with section 104(b)(1))'',
            (2) in paragraph (2) by striking ``$1,200'' and inserting 
        ``$2,400 (adjusted in accordance with section 104(b)(1))'',
            (3) in paragraph (3)--
                    (A) by striking ``$200'' and inserting ``$400 
                (adjusted in accordance with section 104(b)(1))'', and
                    (B) by striking ``$4,000'' and inserting ``$8,000 
                (adjusted in accordance with section 104(b)(1))'',
            (4) in paragraph (4) by striking ``$500'' and inserting 
        ``$1,000 (adjusted in accordance with section 104(b)(1))'',
            (5) in paragraph (5)--
                    (A) by striking ``$400'' and inserting ``$800 
                (adjusted in accordance with section 104(b)(1))'', and
                    (B) by striking ``$3,750'' and inserting ``$7,500 
                (adjusted in accordance with section 104(b)(1))'',
            (6) in paragraph (6) by striking ``$750'' and inserting 
        ``$1,500'',
            (7) in paragraph (8) by striking ``$4,000'' and inserting 
        ``$8,000 (adjusted in accordance with section 104(b)(1))'', and
            (8) in paragraph (11)(D) by striking ``$7,500'' and 
        inserting ``$15,000 (adjusted in accordance with section 
        104(b)(1))''.

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