[Congressional Record (Bound Edition), Volume 151 (2005), Part 3]
[Senate]
[Pages 2987-2988]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 14. Mr. BAYH submitted an amendment intended to be proposed by him 
to the bill S. 256, to amend title 11 of the United States Code, and 
for other purposes; which was ordered to lie on the table; as follows:

        On page 19, strike line 13, and insert the following:
        monthly income.
       ``(8) Paragraph (2) shall not apply if--
       ``(A) the debtor, or a member of the debtor's family, is a 
     member of the uniformed services (as defined in section 
     101(a)(5) of title 10); and
       ``(B) the filing under this title was a direct result of 
     debts incurred as a result of a reduction of income due to a 
     change of status from civilian employment to service on 
     active duty (as defeind in section 101(d) of title 10) as a 
     member of the uniformed services.''.
       On page 146, strike lines 6 through 19, and insert the 
     following:
       (b) Restoring the Foundation for Secured Credit.--Section 
     1325(b) of title 11, United States Code, is amended by adding 
     at the end the following:

[[Page 2988]]

       ``(3) Section 506 shall not apply to a claim described in 
     subsection (a)(5) under circumstances other than those 
     described in section 707(b)(8)--
       ``(A) if--
       ``(i) the creditor has a purchase money security interest 
     securing the debt that is the subject of the claim;
       ``(ii) the debt was incurred during the 910-day period 
     preceding the date on which the petition was filed; and
       ``(iii) the collateral for that debt consists of a motor 
     vehicle (as defined in section 30102 of title 49) acquired 
     for the personal use of the debtor; or
       ``(B) if--
       ``(i) the debt was incurred during the 1-year period 
     preceding the date on which the petition was filed; and
       ``(ii) collateral for the debt that is the subject of the 
     claim consists of anything of value other than the collateral 
     described in subparagraph (A)(iii).''.
       On page 259, between lines 7 and 8, insert the following:

     SEC. 605. GAO STUDY OF CAUSES OF BANKRUPTCY FOR MEMBERS OF 
                   THE UNIFORMED SERVICES.

       The Comptroller General of the United States shall--
       (1) conduct a study of the frequency and causes of 
     bankruptcy by members of the uniformed services; and
       (2) provide recommendations to Congress on how to protect 
     members of the uniformed services, and their families, who 
     file for bankruptcy.

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