[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2609 Introduced in House (IH)]






108th CONGRESS
  1st Session
                                H. R. 2609

To amend title 11, United States Code, to provide for the avoidance of 
 certain transfers, and the alternate prosecution of certain actions, 
                relating to certain retirement benefits.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 26, 2003

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

_______________________________________________________________________

                                 A BILL


 
To amend title 11, United States Code, to provide for the avoidance of 
 certain transfers, and the alternate prosecution of certain actions, 
                relating to certain retirement benefits.

    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 ``Equal Treatment of Pensions and 
Bankruptcy Act of 2003''.

SECTION 2. AVOIDANCE OF CERTAIN TRANSFERS; ALTERNATE PROSECUTION OF 
              ACTION.

    Section 547 of title 11, United States Code, is amended by adding 
at the end the following:
    ``(h) Notwithstanding subsections (b) and (c), the trustee may 
avoid a transfer of a debtor's interest in property to any trust or 
similar arrangement to fund supplemental retirement benefits or other 
deferred compensation for the benefit of an insider or other management 
employee made on or within one year before the date of the filing of 
the petition.
    ``(i) If the trustee consents or fails to commence a proceeding 
authorized under section 506, 543, 544, 545, 547, 548, 549, 550, 552, 
553, or 724, on request of a party in interest or a committee of 
creditors appointed under section 1102 of this title, after notice and 
a hearing, the court may authorize such party in interest or committee 
of creditors to commence and prosecute such proceeding if the court 
finds that commencing and prosecuting such proceeding is in the best 
interest of the estate and for the benefit of the estate.''.
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