[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2058 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 2058

    To amend title 11 of the United States Code with respect to the 
distribution of securities under a plan under chapter 11 of such title.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 11, 1993

  Mr. Berman introduced the following bill; which was referred to the 
                       Committee on the Judiciary

_______________________________________________________________________

                                 A BILL


 
    To amend title 11 of the United States Code with respect to the 
distribution of securities under a plan under chapter 11 of such title.

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

SECTION 1. AMENDMENTS.

    Section 1143 of title 11, United States Code, is amended--
            (1) by inserting ``(a)'' before ``If'', and
            (2) by adding at the end the following:
    ``(b) Notwithstanding any nonbankruptcy law, if a plan requires the 
distribution of a security with respect to an allowed claim, then the 
fair market value of such security shall be conclusively presumed to be 
equal to the amount of such claim for purposes of any law (other than 
sections 1124 and 1129) applicable to the debtor or the estate.''.

SEC. 2. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.

    (a) Effective Date.--Except as provided in subsection (b), this Act 
and the amendments made by section 1 shall take effect on the date of 
the enactment of this Act.
    (b) Application of Amendments.--The amendments made by section 1 
shall not apply with respect to cases commenced under title 11 of the 
United States Code before the date of the enactment of this Act.

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