[Congressional Record Volume 142, Number 16 (Tuesday, February 6, 1996)]
[Senate]
[Page S916]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. GRASSLEY (for himself and Mr. Heflin):
  S. 1559. A bill to make technical corrections to title 11, United 
States Code, and for other purposes; to the Committee on the Judiciary.


            the bankruptcy technical corrections act of 1996

 Mr. GRASSLEY. Mr. President, I rise today to introduce the 
Bankruptcy Technical Corrections Act of 1996. This bill will correct 
technical errors in the bankruptcy code resulting from the 1994 
Bankruptcy Reform Act of 1994 as well as pre-existing technical errors. 
I am introducing the bill with support of Senator Heflin, my good 
friend from Alabama and the ranking minority on the Courts 
subcommittee.
  Mr. President, with one exception, this bill makes purely technical 
changes in the Code. It is my hope that the bill will pass this body 
quickly and by unanimous consent.
  The sole substantive change contained in this bill relates to the 
special procedures set up for single asset real estate ventures. These 
procedures speed up the bankruptcy process in certain unique business 
situations. The 1994 bankruptcy bill passed the Senate overwhelmingly 
without a cap for the value of single asset cases, and the bill I am 
introducing today does no more than restore that provision.
  Again, I wish to thank Senator Heflin for expert assistance and help 
with this bill, and I urge the swift passage of the bill.
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