[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1404 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 1404

   To amend title 11 of the United States Code to include the earned 
income credit in property that the debtor may elect to exempt from the 
                                estate.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 14, 1999

Mr. Brown of Ohio 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 include the earned 
income credit in property that the debtor may elect to exempt from the 
                                estate.

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

SECTION 1. AMENDMENTS.

    Section 522(d)(10) of title 11, United States Code, is amended--
            (1) in subparagraph (E) by striking the period at the end 
        and inserting ``; or'', and
            (2) by adding at the end the following:
                    ``(F)(i) any refund of tax imposed by subtitle A of 
                the Internal Revenue Code of 1986 for any taxable year 
                to the extent that the amount of the refund does not 
                exceed the credit allowed by section 32 of such Code 
                for such year, and
                    ``(ii) any advance payment of such credit under 
                section 3507 of such Code.''.

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 this Act 
shall apply only with respect to cases commenced under title 11 of the 
United States Code on or after the date of the enactment of this Act.
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