[House Report 107-4]
[From the U.S. Government Publishing Office]



107th Congress                                                   Report
                        HOUSE OF REPRESENTATIVES
 1st Session                                                      107-4

======================================================================



 
     PROVIDING FOR THE CONSIDERATION OF H.R. 333, BANKRUPTCY ABUSE 
             PREVENTION AND CONSUMER PROTECTION ACT OF 2001

                                _______
                                

 February 28, 2001.--Referred to the House Calendar and ordered to be 
                                printed

                                _______
                                

   Mr. Sessions, from the Committee on Rules, submitted the following

                              R E P O R T

                       [To accompany H. Res. 71]

    The Committee on Rules, having had under consideration 
House Resolution 71, by a nonrecord vote, report the same to 
the House with the recommendation that the resolution be 
adopted.

                SUMMARY OF PROVISIONS OF THE RESOLUTION

    The resolution provides for the consideration of H.R. 333, 
the Bankruptcy Abuse Prevention and Consumer Protection Act of 
2001, under a structured rule. The rule provides one hour of 
general debate equally divided and controlled by the chairman 
and ranking minority member of the Committee on the Judiciary.
    The rule waives all points of order against consideration 
of the bill. The rule provides that the amendments recommended 
by the Committee on the Judiciary now printed in the bill shall 
be considered as adopted in the House and in the Committee of 
the Whole. The rule provides that the bill, as amended, shall 
be considered as the original bill for the purpose of further 
amendment and shall be considered as read. The rule waives all 
points of order against provisions in the bill as amended.
    The rule makes in order only those amendments printed in 
this report. The amendments made in order may be offered only 
in the order printed in the report, may be offered only by a 
Member designated in the report, shall be considered as read, 
shall be debatable for the time specified in report equally 
divided and controlled by the proponent and an opponent, shall 
not be subject to amendment, and shall not be subject to a 
demand for division of the question in the House or in the 
Committee of the Whole. The rule waives all points of order 
against the amendments printed in this report. The rule also 
provides one motion to recommit with or without instructions.
    Finally, the rule provides authorization for a motion in 
the House to go to conference with the Senate on the bill H.R. 
333.

            SUMMARY OF AMENDMENTS MADE IN ORDER TO H.R. 333

    Sensenbrenner No. 17--Manager's Amendment. Makes technical 
and conforming changes. 10 Minutes
    Jackson-Lee No. 9--Adds a debtor's monthly public school 
expenses as an allowable expense under the means test and puts 
public school expenses on an equal footing with that of private 
school expenses which is already included in the bill. 20 
Minutes
    Green (WI) No. 10--Removes the names of children from 
bankruptcy filings in order to protect their identity from 
those who prey on children. 20 Minutes
    Oxley/LaFalce No. 11--Amends Title IX of the bill to 
reflect changes made by passage of the Commodity Futures 
Modernization Act and updates the definitions of certain 
financial terms to reflect current and developing market 
practices and makes other necessary technical corrections. 10 
Minutes
    Smith (MI) No. 14--Increases the Chapter 12 current 
aggregate debt limit from $1,500,000 to $2,225,000. 20 Minutes
    Conyers/Nadler/Scott/Watt (NC)/Jackson-Lee/Waters/Baldwin/
LaFalce/Tierney No. 20--Democratic Substitute. Makes a number 
of technical improvements to the bill and modifies some of the 
most onerous provisions of lower income debtors and struggling 
businesses. 60 Minutes

            TEXT OF AMENDMENTS MADE IN ORDER UNDER THE RULE

   1. An Amendment To Be Offered by Representative Sensenbrenner of 
           Wisconsin, or a Designee, Debatable for 10 Minutes

    Page 10, line 13, strike ``case) who is not a dependent'' 
and insert ``case who is not a dependent)''.
    Page 22, line 3, strike ``an individual case under chapter 
7'' and insert ``a case under chapter 7 of this title in which 
the debtor is an individual and''.
    Page 31, line 9, strike ``service'' and insert ``agency''.
    Page 34, line 20, strike ``services'' and insert 
``agencies''.
    Page 41, lines 12 and 16, strike ``service'' and insert 
``agency''.
    Page 42, in the matter following line 3, strike 
``services'' and insert ``agencies''.
    Page 74, strike lines 5 through 20, and insert the 
following:
          (1) in subsection (a)--
                  (A) by striking paragraph (5) and inserting 
                the following:
          ``(5) for a domestic support obligation;''; and
                  (B) by striking paragraph (18);
          (2) in subsection (c), by striking ``(6), or (15)'' 
        each place it appears and inserting ``or (6)''; and
          (3) in paragraph (15), as added by Public Law 103-394 
        (108 Stat. 4133)--
                  (A) by inserting ``to a spouse, former 
                spouse, or child of the debtor and'' before 
                ``not of the kind'';
                  (B) by inserting ``or'' after ``court of 
                record,''; and
                  (C) by striking ``unless--'' and all that 
                follows through the end of the paragraph and 
                inserting a semicolon.
    Page 75, strike line 21.
    Page 76, strike lines 1 through 5.
    Page 86, line 14, insert ``a person other than'' before the 
open quotation marks.
    Page 99, lines 18 through 21, indent the left margin 2 ems 
to the right.
    Page 101, line 22, strike the period at the end and insert 
a semicolon.
    Page 101, line 23, strike ``Nothing in paragraph (18)'' and 
insert ``but nothing in this paragraph''.
    Page 107, line 18, strike ``that person'' and insert ``a 
person who provides such assistance or of such preparer''.
    Page 107, lines 22, 23, and 24, strike ``the person'' and 
insert ``such assisted person''.
    Page 113, strike the matter after line 4, and insert the 
following:

``526. Restrictions on debt relief agencies.''.

    Page 114, line 18, strike ``proceeding'' and insert 
``case''.
    Page 120, strike the matter after line 22, and insert the 
following:

``528. Requirements for debt relief agencies.''.

    Page 123, lines 19 and 24, strike ``chapter 7, 11, or 13'' 
and insert ``chapters 7, 11, and 13''.
    Page 130, beginning line 15, strike ``an individual case 
under chapter 7 of this title'' and insert ``a case under 
chapter 7 of this title in which the debtor in an individual''.
    Page 132, beginning on line 13, strike ``an individual case 
under chapter 7, 11, or 13`` and insert ``in which the debtor 
is an individual''.
    Page 140, line 2, strike ``chapter 13 proceeding'' and 
insert ``case under chapter 13''.
    Page 142, line 1, move the left margin 2 ems to the left.
    Page 142, lines 2 through 13, move the left margin 2 ems to 
the left.
    Page 144, line 13, indent the left margin 2 additional ems 
to the right.
    Page 144, lines 14 through 25, indent the left margin 2 
additional ems to the right.
    Page 145, line 1, indent the left margin 2 additional ems 
to the right.
    Page 145, lines 2 through 14, indent the left margin 2 
additional ems to the right.
    Page 164, beginning on line 10, strike ``the case of an 
individual filing under chapter 7, 11, or 13'' and insert ``a 
case under chapter 7, 11, or 13 in which the debtor in an 
individual''.
    Page 165, line 7 strike ``concerning an individual debtor'' 
and insert ``in which the debtor is an individual''.
    Page 171, line 3, strike ``(3)'' and insert ``(2)''.
    Page 172, line 1, strike ``amount'' and insert ``such 
amount under this clause''.
    Page 172, line 20, strike ``amount'' and insert ``such 
amount under this clause''.
    Page 177, line 14, strike ``(b)(l)'' and insert ``(b)(1)''.
    Page 183, line 24, strike ``(i)'' and insert ``(h)''.
    Page 184, line 2, strike ``(j)'' and insert ``(i)''.
    Beginning on page 184, line 23 and all that follows through 
line 2 on page 185, move the left margin 2 ems to the left.
    Page 187, line 12, strike ``period'' and insert 
``period,''.
    Page 189, lines 11 through 14, move the left margin 2 ems 
to the left.
    Page 198, line 24, strike ``claims'' and insert 
``expenses''.
    Page 200, line 11, strike ``claims'' and insert 
``expenses''.
    Page 201, line 2, add ``of chapter 11'' after ``Subchapter 
1''.
    Page 216, line 19, strike ``each district'' and insert 
``the district court, or the clerk of the bankruptcy court if 
one has been certified pursuant to section 156(b) of this 
title,''.
    Page 216, line 22, strike ``on a standardized form'' and 
insert ``in a standardized format''.
    Page 218, line 5, insert ``case filed during'' after 
``in''.
    Page 218, line 13, insert ``for cases loaded during the 
reporting period'' after ``case''.
    Page 218, line 14, insert ``cases closed during'' after 
``for''.
    Page 219, line 11, insert ``entered'' after ``orders''.
    Page 219, line 13, strike ``issued''.
    Page 224, beginning on line 24, strike ``individual cases 
filed under chapter 7 or 13 of such title'' and insert ``cases 
filed under chapter 7 or 13 in which the debtor is an 
individual''.
    Page 234, line 7, insert ``the'' after ``date of''.
    Page 235, line 3, strike ``(i)''.
    Page 235, line 9, strike ``(ii)''.
    Page 246, line 16, insert ``claim for a'' after ``to a''.
    Page 248, line 3, insert ``(1)'' before ``Section''.
    Page 252, after line 22, insert the following:
    (2) Clerical Amendment.--The table of sections for chapter 
3 of title 11, United States Code, is amended by striking the 
item relating to section 346 and inserting the following:

``346.  Special provisions related to the treatment of State and local 
          taxes.''.

    Page 252, line 24, insert ``(A)'' after ``(1)''.
    Page 252, after line 25, insert the following:
          (B) The table of sections for chapter 7 of title 11, 
        United States Code, is amended by striking the item 
        relating to section 728.
    Page 281, line 13, strike ``(j)'' and insert ``(k)''.
    Page 283, line 3, strike ``15,'' and insert ``15''.
    Page 327, line 17, strike the period and insert a 
semicolon.
    Page 331, line 15, strike ``Financial Institution''.
    Page 336, line 21, strike ``(l)'' and insert ``(m)''.
    Page 337, line 13, strike ``(k)'' and insert ``(j)''.
    Page 346, line 16, strike ``561'' and insert ``561,''.
    Page 348, strike the matter following line 4, and insert 
the following:

``767. Commodity broker liquidation and forward contract merchants, 
          commodity brokers, stockbrokers, financial institutions, 
          financial participants, securities clearing agencies, swap 
          participants, repo participants, and master netting agreement 
          participants.'';

    Page 356, strike lines 11 through 21 (and make such 
technical and conforming changes as may be appropriate).
    Page 357, line 11, strike ``Bankruptcy,'' and insert 
``Bankruptcy''.
    Page 369, line 13, insert ``and inserting a semicolon'' 
after ``paragraph''.
    Page 370, line 1, strike ``property.'' and insert 
``property;''.
    Page 370, line 3, strike ``and (37)'' and insert ``(37), 
(38A), and (38B),''.
    Page 377, beginning on line 20, strike ``judgeship 
positions shall be filled'' and insert ``bankruptcy judges 
shall be appointed''.
    Page 378, lines 1, 5, 9, 13, 15, 17, 19, 21, and 23, strike 
``judgeship'' and insert ``judge''.
    Page 378, line 3, 7, and 11, strike ``judgeships'' and 
insert ``judges''.
    Page 379, lines 1, 3, 5, 7, 9, and 11, strike ``judgeship'' 
and insert ``judge''.
    Page 379, beginning on line 23, strike ``bankruptcy 
judgeship positions'' and insert ``office of bankruptcy 
judges''.
    Page 381, beginning on line 2, strike ``judgeship positions 
referred to in this subsection'' and insert ``office of 
bankruptcy judges referred to in paragraph (1)''.
    Page 393, strike lines 10 through 13 (and conform the table 
of contents of the bill accordingly).
    Page 411, line 21, strike ``Applications and''.
    Page 412, line 1, strike ``Applications and''.
                              ----------                              


 2. An Amendment To Be Offered by Representative Jackson-Lee of Texas, 
                or a Designee, Debatable for 20 Minutes

    Page 11, line 1, insert ``or public'' after ``private''.
                              ----------                              


3. An Amendment To Be Offered by Representative Green of Wisconsin, or 
                  a Designee, Debatable for 20 Minutes

    Page 121, after line 16, insert the following (and make 
such technical and conforming changes as may be appropriate):

SEC. 231. PROHIBITION ON DISCLOSURE OF IDENTITY OF MINOR CHILDREN.

    (a) Prohibition.--Title 11 of the United States Code, as 
amended by section 106, is amended by inserting after section 
111 the following:

``Sec. 112. Prohibition on disclosure of identity of minor child

    ``In a case under this title, the debtor may be required to 
provide information regarding a minor child involved in matters 
under this title, but may not be required to disclose in the 
public records in the case the name of such minor child.''.
    (b) Clerical Amendment.--The table of sections for chapter 
1 of title 11, United States Code, is amended by adding at the 
end the following:

        ``112. Prohibition on disclosure of name of minor child.''.
                              ----------                              


  4. An Amendment To Be Offered by Representative Oxley of Ohio, or a 
                   Designee, Debatable for 10 Minutes

    Page 286, line 10, insert ``mortgage'' before ``loan''.
    Page 286, line 11, insert ``, and including any repurchase 
or reverse repurchase transaction on any such security, 
certificate of deposit, loan, interest, group or index, or 
option'' before the semicolon at the end.
    Page 287, line 10, insert a comma after ``index''.
    Page 288, line 18, insert ``or any guarantee or 
reimbursement obligation in connection with any agreement or 
transaction referred to in this clause'' after ``clause''.
    Page 291, line 8, insert ``or any guarantee or 
reimbursement obligation in connection with any agreement or 
transaction referred to in this clause'' after ``clause''.
    Page 293, line 7, insert ``or any guarantee or 
reimbursement obligation in connection with any agreement or 
transaction referred to in any such subclause'' after ``(III), 
or (IV)''.
    Page 296, line 2, insert ``or any guarantee or 
reimbursement obligation in connection with any agreement or 
transaction referred to in any such subclause'' after ``(IV), 
or (V)''.
    Page 297, line 7, insert ``total return,'' before 
``credit''.
    Page 297, line 15, insert ``that is'' before ``similar''.
    Page 297, line 17, strike ``that'' and insert ``and that 
has been,''.
    Page 297, beginning on line 18, strike ``regularly entered 
into in the swap market'' and insert ``the subject of recurrent 
dealings in the swap markets''.
    Page 298, line 1, insert ``quantitative measures associated 
with an occurrence, extent of an occurrence or contingency 
associated with a financial, commercial or economic 
consequence,'' before ``or''.
    Page 298, line 1, insert ``or financial'' after 
``economic''.
    Page 298, line 2, insert ``or financial'' after 
``economic''.
    Page 299, beginning on line 4, strike ``subparagraph'' and 
insert ``subclause''.
    Page 299, line 5, insert ``or any guarantee or 
reimbursement obligation in connection with any agreementor 
transaction referred to in any such subclause'' before the period at 
the end.
    Page 299, line 19, insert ``the Gramm-Leach-Bliley Act, the 
Legal Certainty for Bank Products Act of 2000,'' before, 
``and''.
    Page 305, line 19, strike ``contract'' and insert 
``contracts''.
    Page 306, line 18, insert ``cleared by or'' before 
``subject''.
    Page 307, line 2, insert ``and the term `clearing 
organization' means a `clearing organization' as defined in 
Section 402 of the Federal Deposit Insurance Corporation 
Improvement Act of 1991'' after ``financial institution''.
    Page 313, line 2, strike ``or that'' and insert ``, that''.
    Page 313, line 4, insert ``or that is a multilateral 
clearing organization (as defined in section 408 of this Act)'' 
before the closing quotation marks.
    Page 317, line 12, strike ``Banks and'' and insert 
``Banks,''.
    Page 317, line 13, insert ``, Certain Uninsured State 
Member Banks, and Edge Act Corporations'' before the period.
    Page 317, line 21, strike ``BANKS AND'' and insert 
``BANKS,''.
    Page 317, line 22, insert ``, CERTAIN UNINSURED STATE 
MEMBER BANKS, AND EDGE ACT CORPORATIONS'' before the period.
    Page 318, line 2, insert ``or a corporation chartered under 
section 25A of the Federal Reserve Act or an uninsured State 
member bank which operates, or operates as, a multilateral 
clearing organization pursuant to section 409 of this Act,'' 
after ``agency''.
    Page 318, line 7, insert ``in the case of an uninsured 
national bank or uninsured Federal branch or agency, or to the 
receiver of a corporation chartered under section 25A of the 
Federal Reserve Act of an uninsured State member bank appointed 
by the Board of Governors of the Federal Reserve System in the 
case of a corporation chartered under section 25A of the 
Federal Reserve Act of an uninsured State member bank'' before 
the semicolon at the end.
    Page 318, line 15, insert ``in the case of an uninsured 
national bank or uninsured Federal branch or agency, or to the 
receiver or conservator of a corporation chartered under 
section 25A of the Federal Reserve Act or an uninsured State 
member bank appointed by the Board of Governors of the Federal 
Reserve System in the case of a corporation chartered under 
section 25A of the Federal Reserve Act or an uninsured State 
member bank'' before ``; and''.
    Page 318, line 18, strike ``bank or'' and insert ``bank,''.
    Page 318, line 19, insert ``a corporation chartered under 
section 25A of the Federal Reserve Act or an uninsured state 
member bank which operates, or operates as, a multilateral 
clearing organization pursuant to section 409 of this Act'' 
before the period at the end.
    Page 318, line 21, strike ``bank or'' and insert ``bank,''.
    Page 318, line 22, insert ``a corporation chartered under 
section 25A of the Federal Reserve Act or an uninsured State 
member bank which operates, or operates as, a multilateral 
clearing organization pursuant to section 409 of this Act,'' 
after ``agency''.
    Page 319, line 3, insert ``and the Board of Governors of 
the Federal Reserve System'' after ``Currency''.
    Page 319, line 4, insert ``each'' after ``may''.
    Page 319, line 8, insert ``and the Board of Governors of 
the Federal Reserve System'' after ``Currency''.
    Page 319, line 8, insert ``each'' after ``shall''.
    Page 321, line 6, insert ``or any guarantee or 
reimbursement obligation by or to a forward contract merchant 
or financial participant in connection with any agreement or 
transaction referred to in any such subparagraph,'' after 
``(C), or (D)''.
    Page 321, beginning on line 7, strike ``actual value of 
such contract on the date of the filing of the petition'' and 
insert ``damages in connection with any such agreement or 
transaction measured in accordance with Section 562 of this 
title''.
    Page 323, line 18, insert ``or any guarantee or 
reimbursement obligation by or to a repo participant or 
financial participant in connection with any agreement or 
transaction referred to in any such clause'' after ``(iii), or 
(iv)''.
    Page 323, beginning on line 19, strike ``actual value of 
such contract on the date of the filing of the petition'' and 
insert ``damages in connection with any such agreement or 
transaction measured in accordance with section 562 of this 
title''.
    Page 324, beginning on line 11, strike ``which is an 
interest rate swap'' and insert ``which is--
                                  ``(I) an interest rate 
                                swap''.
    Page 324, beginning on line 13, strike ``including--'' and 
all that follows through ``a rate floor'' on line 14, and 
insert ``including a rate floor''.
    Page 325, line 3, insert ``total return,'' before ``credit 
spread''.
    Page 325, line 12, insert ``that is'' before ``similar''.
    Page 325, line 13, insert ``and'' before ``that''.
    Page 325, line 14, insert ``has been,'' before ``is''.
    Page 325, beginning on line 15, strike ``regularly entered 
into in the swap market'' and insert ``the subject of recurrent 
dealings in the swap markets''.
    Page 325, line 23, insert ``quantitative measures 
associated with an occurrence, extent of an occurrence or 
contingency associated with a financial, commercial or economic 
consequence,'' after ``instruments,''.
    Page 325, line 24, insert ``or financial'' after 
``economic''.
    Page 325, line 25, insert ``or financial'' before ``risk''.
    Page 326, line 24, insert ``or any guarantee or 
reimbursement obligation by or to a swap participant or 
financial participant in connection with any agreement or 
transaction referred to in any such clause'' after ``through 
(v)''.
    Page 326, beginning on line 25, strike ``actual value of 
such contract on the date of the filing of the petition'' and 
insert ``damages in connection with any such agreement or 
transaction measured in accordance with section 562 of this 
title''.
    Page 327, line 14, insert ``the Gramm-Leach-Bliley Act, the 
Legal Certainty for Bank Products Act of 2000,'' before 
``and''.
    Page 328, line 6, insert ``mortgage'' before ``loan''.
    Page 328, line 7, insert ``, and including any repurchase 
or reverse repurchase transaction on any such security, 
certificate of deposit, loan, interest, group or index, or 
option'' before the semicolon at the end.
    Page 329, line 25, strike the comma.
    Page 330, line 2, insert ``or any guarantee or 
reimbursement obligation by or to a stockbroker, 
securitiesclearing agency, financial institution or financial 
participant in connection with any agreement or transaction referred to 
in this subparagraph'' before the comma after ``subparagraph''.
    Page 330, beginning on line 3, strike ``actual value of 
such contract on the date of the filing of the petition'' and 
insert ``damages in connection with any such agreement or 
transaction measured in accordance with section 562 of this 
title''.
    Page 331, line 12, insert ``or any guarantee or 
reimbursement obligation by or to a commodity broker or 
financial participant in connection with any agreement or 
transaction referred to in this paragraph'' before the comma 
after ``paragraph''.
    Page 331, beginning on line 12, strike ``actual value of 
such contract on the date of the filing of the petition'' and 
insert ``damages in connection with any such agreement or 
transaction measured in accordance with section 562 of this 
title''.
    Page 331, after line 18, insert the following new paragraph 
(and redesignate subsequent paragraph accordingly):
          (1) by striking paragraph (22) and inserting the 
        following:
          ``(22) `financial institution' means--
                  ``(A) a Federal reserve bank, or an entity 
                (domestic or foreign) that is a commercial or 
                savings bank, industrial savings bank, savings 
                and loan association, trust company, or 
                receiver or conservator for such entity and, 
                when any such Federal reserve bank, receiver, 
                conservator or entity is acting as agent or 
                custodian for a customer in connection with a 
                securities contract, as defined in section 741, 
                such customer; or
                  ``(B) in connection with a securities 
                contract, as defined in section 741, an 
                investment company registered under the 
                Investment Company Act of 1940;'';
    Page 332, line 13, strike ``participant' means an entity'' 
and insert ``participant' means--
                  ``(A) an entity''.
    Page 332, line 15, insert ``swap agreement, repurchase 
agreement,'' after ``commodity contract,''.
    Page 333, line 3, strike the closing quotation marks and 
the second semicolon.
    Page 333, after line 3, insert the following new 
subparagraph:
                  ``(B) a `clearing organization' (as such term 
                is defined in section 402 of the Federal 
                Deposit Insurance Corporation Improvement Act 
                of 1991);''; and
    Page 333, line 7, strike the comma after ``entity''.
    Page 333, line 9, strike ``or'' after ``merchants''.
    Page 334, line 3, insert ``or any guarantee or 
reimbursement obligation related to 1 or more of the 
foregoing'' before the semicolon.
    Page 334, line 24, strike ``and''.
    Page 335, line 2, strike ``and''.
    Page 335, line 7, insert ``or financial participant'' after 
``swap participant''.
    Page 335, line 13, insert ``or financial participant'' 
after ``swap participant''.
    Page 335, line 15, strike ``and''.
    Page 335, line 17, insert ``or financial participant'' 
after ``swap participant''.
    Page 336, line 10, strike ``and''.
    Page 337, strike line 8.
    Page 337, after line 11, insert the following new 
subparagraph:
                  (C) by inserting `or financial participant' 
                after `swap participant' each time such term 
                appears; and
    Page 339, strike line 12.
    Page 339, line 15, strike the period at the end and insert 
``; and''.
    Page 339, after line 15, insert the following new 
paragraph:
          (3) by striking so much of the text of the second 
        sentence as appears before ``whether'' and inserting 
        ``As used in this section, the term ``contractual 
        right'' includes a right set forth in a rule or bylaw 
        of a derivatives clearing organization (as defined in 
        the Commodity Exchange Act), a multilateral clearing 
        organization (as defined in the Federal Deposit 
        Insurance Corporation Improvement Act of 1991), a 
        national securities exchange, a national securities 
        association, a contract market designated under the 
        Commodity Exchange Act, a derivatives transaction 
        execution facility registered under the Commodity 
        Exchange Act, or a board of trade (as defined in the 
        Commodity Exchange Act) or in a resolution of the 
        governing board thereof and a right,''
    Page 339, strike line 23.
    Page 340, line 3, strike the period at the end and insert 
``; and''
    Page 340, after line 3, insert the following new paragraph:
          (3) by striking so much of the text of the third 
        sentence as appears before ``whether'' and inserting 
        ``As used in this section, the term ``contractual 
        right'' includes a right set forth in a rule or bylaw 
        of a derivatives clearing organization (as defined in 
        the Commodity Exchange Act), a multilateral clearing 
        organization (as defined in the Federal Deposit 
        Insurance Corporation Improvement Act of 1991), a 
        national securities exchange, a national securities 
        association, a contract market designated under the 
        Commodity Exchange Act, a derivatives transaction 
        execution facility registered under the Commodity 
        Exchange Act, or a board of trade (as defined in the 
        Commodity Exchange Act) or in a resolution of the 
        governing board thereof and a right,
    Page 340, line 14, strike ``and''.
    Page 340, line 18, strike the period and insert ``; and''.
    Page 340, after line 18, insert the following new 
paragraph:
          (4) by striking so much of the text of the second 
        sentence as appears before ``whether'' and inserting 
        ``as used in this section, the term `contractual right' 
        includes a right set forth in a rule or bylaw of a 
        derivatives clearing organization (as defined in the 
        Commodity Exchange Act), a multilateral clearing 
        organization (as defined in the Federal Deposit 
        Insurance Corporation Improvement act of 1991), a 
        national securities exchange, a national securities 
        association, a contract market designated under the 
        Commodity Exchange Act), a derivatives transaction 
        execution facility registered under the Commodity 
        Exchange Act, or a board of trade (as defined in the 
        Commodity Exchange Act) or in a resolution of the 
        governing board thereof and a right,''.
    Page 341, line 3, insert ``; proceedings under chapter 15'' 
after ``contracts''
    Page 342, line 11, insert ``traded on or subject to the 
rules of a contract market designated under the Commodity 
Exchange Act or a derivatives transaction execution facility 
registered under the Commodity Exchange Act'' after 
``contract''.
    Page 342, line 22, insert ``and traded on or subject to the 
rules of a contract market designated under the Commodity 
Exchange Act or a derivatives transaction execution facility 
registered under the Commodity Exchange Act'' after ``debtor''.
    Page 343, line 5, strike ``agreement'' and insert ``or 
similar arrangement''.
    Page 343, beginning on line , strike ``section 
5a(a)(12)(A)'' and insert ``paragraph (1) or (2) of section 
5c(c)''.
    Page 343, line 10, strike ``been approved'' and insert 
``not been abrogated or rendered ineffective by the Commodity 
Futures Trading Commission''.
    Page 343, beginning on line 18, strike ``national'' and all 
that follows through ``market'' on line 21, and insert 
``derivatives clearing organization (as defined in the 
Commodity Exchange Act), a multilateral clearing organization 
(as defined in the Federal Deposit Insurance Corporation 
Improvement act of 1991), a national securities exchange, a 
national securities association, a contract market designated 
under the Commodity ExchangeAct, a derivatives transaction 
execution facility registered under the Commodity Exchange Act, or a 
board of trade (as defined in the Commodity Exchange Act)''.
    Page 344, strike the item following line 18, and insert the 
following new item:

``561. Contractual right to terminate, liquidate, accelerate, or offset 
          under a master netting agreement and across contracts; 
          proceedings under chapter 15.''.

    Page 345, line 21, inset ``financial participants'' before 
``securities''.
    Page 346, line 9, insert ``in subsection (a)(2)(B)(ii), by 
inserting before the semicolon, and'' after ``(1)''.
    Page 346, line 10, insert a comma after ``period'',
    Page 346, after line 22, insert the following new paragraph 
(and redesignate the subsequent paragraphs as paragraphs (3), 
(4), (7), and (8), respectively):
          (2) in sections 362(b)(7) and 546(f), by inserting 
        ``or financial participant'' after ``repo participant'' 
        each time such term appears;
    Page 347, after line 2, insert the following new 
paragraphs:
          (5) in section 548(d)(2)(C), by inserting ``or 
        financial participant'' after ``repo participant'';
          (6) in section 548(d)(2)(D), by inserting ``or 
        financial participant'' after ``swap participant'';
    Page 347, beginning on line 6, strike ``by inserting'' and 
all that follows through ``contract market'' on line 8, and 
insert ``by striking the second sentence and inserting `As used 
in this section, the term ``contractual right'' includes a 
right set forth in a rule or bylaw of a derivatives clearing 
organization (as defined in the Commodity Exchange Act), a 
multilaterial clearing organization (as defined in the Federal 
Deposit Insurance Corporation Improvement Act of 1991), a 
national securities exchange, a national securities 
association, a contract market designated under the Commodity 
Exchange Act, a derivatives transaction execution facility 
registered under the Commodity Exchange Act, or a board of 
trade (as defined in the Commodity Exchange Act)' ''.
    Page 347, line 12, strike ``and''.
    Page 347, line 14, strike the period and insert a 
semicolon.
    Page 347, after line 14, insert the following new 
paragraphs:
          (9) in section 559, by inserting ``or financial 
        participant'' after ``repo participant'' each time such 
        term appears; and
          (10) in section 560, by inserting ``or financial 
        participant'' after ``swap participant''.
    Page 348, strike the item following line 4, and insert the 
following new item:

``767. Commodity broker liquidation and forward contract merchants, 
          commodity brokers, stockbrokers, financial institutions, 
          financial participants, securities clearing agencies, swap 
          participants, repo participants, and master netting agreement 
          participants.'';

    Page 348, strike the item following line 7, and insert the 
following new item:

``753. Stockbroker liquidation and forward contract merchants, commodity 
          brokers, stockbrokers, financial institutions, financial 
          participants, securities clearing agencies, swap participants, 
          repo participants, and master netting agreement 
          participants.''.

    Page 348, after the item following line 7, insert the 
following new section:

SEC. 907A. SECURITIES BROKER AND COMMODITY BROKER LIQUIDATION.

    The Securities and Exchange Commission and the Commodity 
Futures Trading Commission may consult with each other with 
respect to--
          (1) whether, under what circumstances, and the extent 
        to which security futures products will be treated as 
        commodity contracts or securities in a liquidation of a 
        person that is both a securities broker and a commodity 
        broker; and
          (2) the treatment in such a liquidation of accounts 
        in which both commodity contracts and securities are 
        carried.
    Page 352, line 1, insert a comma after ``101''.
    Page 352, line 2, strike ``and 741'' and insert ``741, and 
761''.
                              ----------                              


5. An Amendment To Be Offered by Representative Smith of Michigan, or a 
                   Designee, Debatable for 20 Minutes

    Page 357, line 15, insert ``(a) Periodic Adjustment.--'' 
before ``Section''.
    Page 357, after line 21, insert the following:
    (b) Base Amount.--Section 101(18) of title 11, United 
States Code, is amended by striking ``$1,500,000'' each place 
it appears and inserting ``$2,225,000''.
                              ----------                              


6. An Amendment To Be Offered by Representative Conyers of Michigan, or 
                  a Designee, Debatable for 60 Minutes

    Page 8, after line 11, insert the following (and make such 
technical and conforming changes as may be appropriate):
                                  (III) by striking ``whose 
                                debts are primarily consumer 
                                debts'';
    Page 10, line 7, strike ``the continuation of''.
    Page 10, after line 22, insert the following (and make such 
technical and conforming changes as may be appropriate):
    ``(II) In addition, if the debtor does have health 
insurance benefits the debtor's monthly expenses shall include 
an allowance to pay for reasonable medical expenses, as 
circumstances require, not covered by the insurance for the 
debtor, the dependents of the debtor, and the spouse of the 
debtor.
    Page 10, beginning on line 24, strike ``actual 
administrative expenses'' and insert ``reasonable expenses''.
    Page 11, line 1, insert ``or public'' after ``private''.
    Page 11, after line 4, insert the following:
    ``(V) In addition, the debtor's monthly expenses shall 
include expenses necessary for the care of foster children in 
the custody of the debtor.
    Page 11, beginning on line 1, strike ``if'' and all that 
follows through ``why'' on line 3.
    Page 12, strike lines 2 through 6, and insert the 
following:
    ``(B)(i) In any proceeding brought under this subsection, 
the presumption of abuse may be overcome if the court finds 
special circumstances indicating by a preponderance of the 
evidence that the debtors income should be adjusted to less 
than the current monthly income, that the debtors reasonably 
necessary expenses are greater than those allowed by the 
Internal Revenue Service guidelines, or that the debtors 
financial difficulties were caused by circumstances beyond the 
debtors control including medical problems.
    Page 13, after line 3, insert the following:
    ``(v) A debtor whose current monthly income is equal to or 
less than the Federal Income Poverty Guidelines and has been 
for the 1-year period preceding the date of the filing of the 
petition may, in lieu of the requirements of clauses (iv) and 
(v) of section 521(a)(1)(B) and subsections (e), (f), and (g) 
of section 521, file with the court written evidence showing 
the debtors income for the 1-year period before the date of the 
filing of the petition and a declaration under penalty of 
perjury that the debtors income meets the test of this clause 
for that period.
    Page 24, line 2, strike ``current monthly income'' and 
insert ``projected disposable income''.
    Page 17, lines 6, 11, and 16, insert ``(adjusted to reflect 
the percentage change in the Consumer Price Index for All Urban 
Consumers, published by the Department of Labor, for each 
subsequent year during which such median family income is not 
reported by the Bureau of the Census)'' after ``Census''.
    Page 18, lines 2, 7, and 12, insert ``(adjusted to reflect 
the percentage change in the Consumer Price Index for All Urban 
Consumers, published by the Department of Labor, for each 
subsequent year during which such median family income is not 
reported by the Bureau of the Census)'' after ``Census''.
    Page 20, lines 18 and 23, insert ``(adjusted to reflect the 
percentage change in the Consumer Price Index for All Urban 
Consumers, published by the Department of Labor, for each 
subsequent year during which such median family income is not 
reported by the Bureau of the Census)'' after ``Census''.
    Page 21, lines 9 and 14, insert ``(adjusted to reflect the 
percentage change in the Consumer Price Index for All Urban 
Consumers, published by the Department of Labor, for each 
subsequent year during which such median family income is not 
reported by the Bureau of the Census)'' after ``Census''.
    Page 25, lines 9, 14, and 19, insert ``(adjusted to reflect 
the percentage change in the Consumer Price Index for All Urban 
Consumers, published by the Department of Labor, for each 
subsequent year during which such median family income is not 
reported by the Bureau of the Census)'' after ``Census''.
    Page 160, lines 14, 19, and 24, insert ``(adjusted to 
reflect the percentage change in the Consumer Price Index for 
All Urban Consumers, published by the Department of Labor, for 
each subsequent year during which such median family income is 
not reported by the Bureau of the Census)'' after ``Census''.
    Page 161, lines 9, 14, and 19, insert ``(adjusted to 
reflect the percentage change in the Consumer Price Index for 
All Urban Consumers, published by the Department of Labor, for 
each subsequent year during which such median family income is 
not reported by the Bureau of the Census)'' after ``Census''.
    Page 162, lines 17 and 23, insert ``(adjusted to reflect 
the percentage change in the Consumer Price Index for All Urban 
Consumers, published by the Department of Labor, for each 
subsequent year during which such median family income is not 
reported by the Bureau of the Census)'' after ``Census''.
    Page 163, line 4, insert ``(adjusted to reflect the 
percentage change in the Consumer Price Index for All Urban 
Consumers, published by the Department of Labor, for each 
subsequent year during which such median family income is not 
reported by the Bureau of the Census)'' after ``Census''.
    Beginning on page 45, strike line 24 and all that follows 
through line 9 on page 61, and insert the following:
          (1) in subsection (c)(2)--
                  (A) in subparagraph (A) by striking ``and'' 
                at the end;
                  (B) in subparagraph (B) by adding ``and'' at 
                the end; and
                  (C) by adding at the end the following:
          ``(C) such agreement contains a clear and conspicuous 
        statement which advises the debtor what portion of the 
debt to be reaffirmed is attributable to principal, interest, late 
fees, creditors attorney fees, expenses or other costs relating to the 
collection of the debt;'';
          (2) in subsection (c)(6)(B), by inserting ``or is a 
        debt described in subsection (c)(7)'' after ``real 
        property''; and
          (3) in subsection (c)--
                  (A) in paragraph (5) by striking ``and'' at 
                the end;
                  (B) in paragraph (6) by striking the period 
                and inserting ``; and'' at the end; and
                  (C) by adding at the end the following:
          ``(7) in a case concerning an individual, if the 
        consideration for such agreement is based in whole or 
        in part on an unsecured consumer debt, or is based in 
        whole or in part upon a debt for an item of personalty 
        the value of which at point of purchase was $1,000 or 
        less, and in which the creditor asserts a purchase 
        money interest, the court, approves such agreement as--
                  ``(A) in the best interest of the debtor in 
                light of the debtors income and expenses;
                  ``(B) not imposing an undue hardship on the 
                debtors future ability to pay for the needs of 
                children and other dependents (including court 
                ordered support);
                  ``(C) not requiring the debtor to pay the 
                creditors attorneys fees, expenses or other 
                costs relating to the collection of debt;
                  ``(D) not entered into to protect property 
                that is necessary for the care and maintenance 
                of children or other dependents that would have 
                nominal value on repossession;
                  ``(E) not entered into after coercive threats 
                or actions by the creditor in the creditors 
                course of dealings with the debtor; and
                  ``(F) not unfair because excessive in amount 
                based upon the value of the collateral.'';
          (4) in subsection (d)(2)--
                  (A) by striking ``subsection (c)(6)'' and 
                inserting ``paragraphs (6) and (7) of 
                subsection (c)'', and
                  (B) by striking ``, if the consideration for 
                such agreement is based in whole or in part on 
                a consumer debt that is not secured by real 
                property of the debtor after of this section 
                and adding at the end as applicable''.
    Page 86, strike lines 1 through 5 (and make such technical 
and conforming changes as may be appropriate).
    Page 121, after line 16, insert (and make such technical 
and conforming changes as may be appropriate):

SEC. 231. PRIVACY POLICY ENFORCEMENT.

    (a) FTC and State Attorneys General Authority To Protect 
Personal Privacy.--
          (1) In general.--Chapter 3 of title 11, United States 
        Code, is amended by inserting after section 307 the 
        following new section:

``Sec. 308. Personally identifiable information; authority of Federal 
                    Trade Commission and State attorneys general

    ``(a) FTC Authority.--The Federal Trade Commission may 
appear and be heard in any case or proceeding under this title 
in which personally identifiable information is, or is proposed 
to be, used, sold, leased, or otherwise disclosed in violation 
of section 363(b)(3).
    ``(b) Authority of State Attorneys General.--A State, as 
parens patriae, may appear and be heard in any case or 
proceeding under this title in which--
          ``(1) the attorney general of a State has reason to 
        believe that the personally identifiable information of 
        the residents of that State has been or is threatened 
        or adversely affected; and
          ``(2) personally identifiable information is, or is 
        proposed to be,used, sold, leased, or otherwise 
        disclosed in violation of section 363(b)(3).
    ``(c) No Affect on Other Authority.--Nothing in this 
section shall be construed to limit the authority of the 
Federal Trade Commission or a State to appear and be heard in 
any case or proceeding--
          ``(1) as a creditor where the Federal Trade 
        Commission or a State asserts a claim against a debtor 
        based on alleged violations of statutes within the 
        enforcement jurisdiction of the Federal Trade 
        Commission or the State; or
          ``(2) as a party in interest concerning other matters 
        or issues within the jurisdiction of the Federal Trade 
        Commission or the State.''.
          (2) Clerical amendment.--The table of sections for 
        chapter 3 of title 11, United States Code, is amended 
        by inserting after the item relating to section 307 the 
        following:

``308. Personally identifiable information; authority of Federal Trade 
          Commission and State attorneys general.''.

    (b) Limitation on Sale, Use, or Lease of Certain Personally 
Identifiable Information.--Section 363(b) of title 11, United 
States Code, is amended by adding at the end the following:
          ``(3)(A) If the debtor is not an individual, 
        personally identifiable information in the possession 
        of the debtor that relates to any other person may 
        only--
                  ``(i) be used by the debtor--
                          ``(I) in accordance with the terms of 
                        the debtor's privacy policy in effect 
                        at the time of the bankruptcy filing; 
                        or
                          ``(II) if no such privacy policy 
                        relating to the personally identifiable 
                        information was in effect at the time 
                        of the bankruptcy filing, in accordance 
                        with subparagraph (B); and
                  ``(ii) be sold, leased, or otherwise 
                disclosed by the debtor--
                          ``(I) to a nondebtor party; and
                          ``(II) in accordance with 
                        subparagraph (B).
          ``(B) In the case of the use, sale, lease, or other 
        disclosure of personally identifiable information, as 
        described in clause (i)(II) or (ii) of subparagraph 
        (A), the debtor shall provide prior clear and 
        conspicuous notice to the person to whom the personally 
        identifiable information relates of--
                  ``(i) the proposed use, sale, lease, or other 
                disclosure of the information;
                  ``(ii) the identify of the purchaser, lessee, 
                or other recipient of the information, if 
                applicable;
                  ``(iii) the privacy policy of the purchaser, 
                lessee, or other recipient of the information, 
                if applicable; and
                  ``(iv) the right of that person to choose not 
                to have the information used or transferred, 
                and an opportunity to choose not to have the 
                information used or transferred.
          ``(C) The bankruptcy court, after notice to all 
        parties in interest and the Federal Trade Commission 
        and hearing--
                  ``(i) shall establish mechanisms for 
                providing clear and conspicuous notice and 
                choice referred to in subparagraph (B); and
                  ``(ii) may tailor such mechanisms to the 
                specific circumstances of a case, as determined 
                by the bankruptcy court.''.
    ``(c) Definition of Personally Identifiable Information.--
Section 101 of title 11, United States Code, is amended by 
inserting after paragraph (41) the following:
          ``(41A) `personally identifiable information' means, 
        with respect to the person to whom the information 
        relates--
                  ``(A) a first name, initials, and last name 
                of that person, whether given at birth or 
                adoption, assumed, or legally changed;
                  ``(B) a home or other physical adddress for 
                that person, including street name and name of 
                city or town.
                  ``(C) an e-mail address for that person;
                  ``(D) a telephone number for that person;
                  ``(E) a social security account number for 
                that person;
                  ``(F) a credit card account number for that 
                person;
                  ``(G) a birth date, birth certificate number, 
                or place of birth for that person;
                  ``(H) information concerning that person that 
                the debtor collects and combines with any other 
                identifier described in this paragraph; and
                  ``(I) any other identifying information 
                relating to that person that permits the 
                physical or electronic contacting or 
                identification of that person, as determined by 
                the bankruptcy court.''.
    Page 198, strike lines 3 and 4 and insert the following:

308, as added by this Act, the following:

``Sec. 309. Debtor reporting requirements

    Page 199, strike line 15 and all that follows through the 
end of the material between lines 15 and 16 and insert the 
following:

section 308, as added by this Act, the following:

``309. Debtor reporting requirements.''.

    Page 254, after line 4, insert the following (and make such 
technical and conforming changes as may be appropriate):

SEC. 605. PROTECTION OF PERSONAL PRIVACY IN BANKRUPTCY CASES.

    (a) Personal Privacy Protection.--Section 107 of title 11, 
United States Code, is amended by adding at the end the 
following:
    ``(c) Electronic Access.--
          ``(1) In general.--The clerk of the bankruptcy court, 
        the United States trustee, and the trustee in a case 
        under this title may provide electronic access to a 
        paper filed in a case under this title, to any of the 
        information contained in a paper filed in such a case, 
        and to the dockets of a bankruptcy court only as 
        permitted in this subsection.
          ``(2) Limitations on access.--Except as provided in 
        paragraph (3), the clerk of the bankruptcy court, the 
        United States trustee, and the trustee in the case may 
        not provide electronic access--
                  ``(A) to the debtor's social security number, 
                date of birth, mother's maiden name, telephone 
                number, or account numbers (including bank 
                account and credit card account numbers);
                  ``(B) to any of the single line items in the 
                debtor's schedule of assets or statement of 
                income and expenditures; or
                  ``(C) to any personal, medical, or financial 
                information regarding the debtor or a relative 
                of the debtor.
          ``(3) Permissible access.--The clerk of the 
        bankruptcy court, the United States trustee, and the 
        trustee in the case may provide electronic access to 
        the information specified in paragraph (2) to--
                  ``(A) a party in interest in the case;
                  ``(B) an entity that requires any such 
                information to determine whether it is a party 
                in interest in the case;
                  ``(C) the trustee in the case;
                  ``(D) the United States trustee; or
                  ``(E) a governmental unit that requires any 
                such information for a bona fide law 
                enforcement purpose.
          ``(4) Certification required.--A party or entity 
        whose only basis for obtaining electronic access to 
        information in a case under this title is under 
        subparagraph (A) or (B) of paragraph (3) shall, as a 
        condition to obtaining electronic access to any of the 
        information listed in paragraph (2), certify, in 
        writing or in electronic form, to the clerk of the 
        bankruptcy court, the United States trustee, or the 
        trustee in the case, as the case may be, that the party 
        or entity--
                  ``(A) properly qualifies for electronic 
                access to information under paragraph (3);
                  ``(B) will use the information obtained 
                through electronic access only for the purpose 
                of--
                          ``(i) participating or determining 
                        whether to participate in the case;
                          ``(ii) the entity's own internal 
                        credit evaluation of the debtor; or
                          ``(iii) providing the information to 
                        a governmental unit for a bona fide law 
                        enforcement purpose;
                  ``(C) will use reasonable means to secure the 
                information obtained from unauthorized access 
                and disclosure; and
                  ``(D) will comply with the requirements of 
                paragraph (6).
          ``(5) Maintenance of records.--The clerk of the 
        bankruptcy court, the United States trustee, or the 
        trustee in the case, as the case may be, shall maintain 
        a record of, and shall make available to the debtor, 
        the identity of and contact information for any entity 
        that has obtained electronic access to information in a 
        case under this title.
          ``(6) Duties of recipient.--Under written request by 
        the debtor, an entity that has obtained electronic 
        information under this subsection shall promptly inform 
        the debtor of the content of the information stored by 
        the entity and shall correct any such information to 
        the extent that it differs from the information 
        contained in the records of the bankruptcy court.
          ``(7) Liability.--A party or entity that is required 
        to make the certification required under paragraph (4), 
        that obtains electronic access to information in a 
        case, and that does not provide or does not comply with 
        the certification is liable to the debtor for--
                  ``(A) any actual damages;
                  ``(B) the debtor's attorney's fees and costs 
                in enforcing compliance with this subsection;
                  ``(C) $500 per violation; and
                  ``(D) punitive damages, if the violation is 
                willful or part of a pattern or practice of 
                violations of this subsection.
          ``(8) Use by official recipients.--An entity that 
        obtains electronic access to information under 
        subparagraph (C), (D), or (E) of paragraph (3)--
                  ``(A) may use the information concerning an 
                individual debtor only in connection with 
                carrying out the official duties of that entity 
                in connection with the administration of the 
                case or the administration of the bankruptcy 
                system in general; and
                  ``(B) may not provide electronic access to 
                any such information concerning an individual 
                debtor, except in accordance with the 
                provisions of this subsection.
          ``(9) Access to statistical information.--The clerk 
        of the bankruptcy court may provide electronic access 
        to statistical information concerning cases and 
        information concerning particular cases without regard 
        to the restrictions of this subsection, but only if the 
        information does not include any means of identifying a 
        particular debtor's name, social security number, date 
        of birth, mother's maiden name, telephone number, 
        address, or account numbers (including bank account and 
        credit card account numbers).
          ``(10) Definitions.--For purposes of this subsection, 
        `electronic access' means through electronic means, 
        such as through a computer or telephone, to a database 
        or to court or other electronic records, without human 
        intervention .
          ``(11) Applicability to individuals.--This subsection 
        applies only in a case in which the debtor is an 
        individual.''.
    (b) Conforming Amendment.--Section 107(a) of title 11, 
United States Code, is amended by striking ``subsection (b)'' 
and inserting ``subsections (b) and (c)''.
    (c) Clerical Amendments.--Section 107 of title 11, United 
States Code, is amended--
          (1) by inserting ``General Access.--'' after ``(a)''; 
        and
          (2) by inserting ``Protected Matter.--'' after 
        ``(b)''.
    (d) Effective Date.--The amendments made by this section 
shall become effective 180 days after the date of enactment of 
this Act.
    Page 145, strike lines 19 through 23 (and make such 
technical and conforming changes as may be appropriate).
    Beginning on page 147, strike line 6 and all that follows 
through line 16 on page 148, and insert the following:
    ``(4)(A) For purposes of paragraph (1)(B), the term 
`household goods' includes tangible personal property normally 
found in or around a residence, but does not include motorized 
vehicles used for transportation purposes.''.
    Page 159, line 12, insert ``, or on a showing of good cause 
such longer period as the court considers to be reasonable,'' 
after ``45 days''.
    Page 167, strike lines 21 through 24 (and make such 
technical and conforming changes as may be appropriate).
    Page 236, line 8, strike ``described in section 523(a)(2) 
or''.
    Page 182, line 3, strike the close quotation marks and the 
period at the end.
    Page 182, after line 3, insert the following (and make such 
technical and conforming changes as may be appropriate):
    ``(iii) The court may extend the time periods specified in 
this paragraph if the debtor establishes by clear and 
convincing evidence that an extension is justified by 
circumstances beyond the debtor's control that were not 
foreseeable on the date of the order for relief.''.
    Page 186, line 18, strike ``The'' and insert ``Unless the 
debtor establishes by clear and convincing evidence that there 
are circumstances beyond the debtor's control that were not 
foreseeable on the date of the order of relief, the''.
    Page 186, line 21, strike ``The'' and insert ``Unless the 
debtor establishes by clear and convincing evidence that there 
are circumstances beyond the debtor's control that were not 
foreseeable on the date of the order of relief, the''.
    Page 191, after line 24, insert the following (and make 
such technical and conforming changes as may be appropriate):
    ``(4) The court may extend the time period specified in 
paragraph (2) if the debtor establishes by clear and convincing 
evidence that an extension is justified by circumstances beyond 
the debtor's control that were not foreseeable on the date the 
assurance of payment was due.
    Page 201, line 7, insert ``(a)'' before ``In''.
    Page 202, line 25, strike the close quotation marks and the 
period at the end.
    Page 202, after line 25, insert the following:
    ``(b) The court may extend the time periods specified in 
paragraphs (1) and (3) of subsection (a) if the debtor 
establishes by clear and convincing evidence that an extension 
is justified by circumstances that there are beyond the 
debtor's control that were not foreseeable on the date of the 
order of relief.''.
    Page 204, line 5, strike ``and'' at the end.
    Page 204, line 7, strike and close quotation marks and the 
period at the end.
    Page 204, after line 7, insert the following (and make such 
technical and conforming changes as may be appropriate):
                  ``(D) the debtor establishes by clear and 
                convincing evidence that an extension is 
                justified by circumstances beyond the debtor's 
                control that were not foreseeable on the date 
                of the order of relief.''.
    Page 204, line 14, insert ``or the debtor establishes by 
clear and convincing evidence that an extension is justified by 
circumstances beyond the debtor's control that were not 
foreseeable on the date of the order for relief'' after 
``1121(e)(3)''.
    Page 353, line 19, insert ``of this title or the transfer 
of the asset-backed securitization would not be a true 
transfer, conveyance or sale under nonbankruptcy law'' after 
``548(a)''.
    Page 194, after line 8, insert the following (and make such 
technical and conforming change as may be appropriate):

SEC. 420. CLARIFICATION OF POSTPETITION WAGES AND BENEFITS.

    Section 503(b)(1)(A) of title 11, United States Code, is 
amended to read as follows:
                  ``(A) The actual, necessary costs and 
                expenses of preserving the estate, including 
                wages, salaries, or commissions for services 
                rendered after the commencement of the case, 
                and wages awarded as backpay and benefits 
                attributable to any period of time after 
                commencement of the case as a result of the 
                debtor's violation of Federal or State law, 
                without regard to when the original unlawful 
                act occurred or to whether any services were 
                rendered.''.
    Page 194, before line 9, insert the following (and make 
such technical and conforming changes as may be appropriate):

SEC. 421. CLARIFICATION OF DEBTOR'S DUTIES.

    (a) Duties.--Section 521 of title 11, United States Code, 
as amended by this Act, is amended by inserting after paragraph 
(6) the following:--
          ``(7) unless a trustee is serving in the case, the 
        debtor who, at the time of the commencement of the 
        case, served as the administrator or plan sponsor of an 
        employee benefit plan, pursuant to section 1002(16) of 
        title 29, United States Code, shall continue to perform 
        the obligations required of the plan administrator or 
        plan sponsor; and
          ``(8) unless a trustee is serving in the case, where 
        a proof of claim is filed on behalf of employees or 
        retirees of the debtor by a labor organization serving 
        as the collective bargaining representative of such 
        employees or retirees, the debtor shall, for the 
        purpose of facilitating the location of, and 
        distribution to the employees and retirees of the 
        allowed amount of the claim, provide to such collective 
        bargaining representative a complete list of such 
        employees or retirees and their current addresses as 
        listed on the books and records of the debtor, and such 
        other information as may reasonably be requested for 
        the purpose of aiding in the claims distribution.''.
    (b) Chapter 7.--Section 704 of title 11, United States 
Code, as amended by this Act, is amended by adding at the end 
the following:
          ``(12) where, at the time of the commencement of the 
        case, the debtor served as the administrator or plan 
        sponsor of an employee benefit plan, pursuant to 
        section 1002(16) of title 29, United States Code, 
        continue to perform the obligations required of the 
        plan administrator or plan sponsor;
          ``(13) where a proof of claim is filed on behalf of 
        employees or retirees of the debtor by a labor 
        organization serving as the collective bargaining 
        representative of such employees or retirees, provide 
        to such collective bargaining representative a complete 
        list of such employees or retirees and their current 
        addresses as listed on the books and records of the 
        debtor, and such other information as may reasonably be 
        requested for the purpose of aiding in the distribution 
        of allowed claims to such employees or retirees; and
          ``(14) assume the obligations of the debtor to 
        withhold, report, and pay withholding taxes to the 
        appropriate taxing authority with respect to the 
        distribution of allowed claims for employee 
        compensation and prepare and submit the reports and 
        returns required by such authorities.''.
    (c) Chapter 11.--Section 1106(a)(1) of title 11, United 
States Code, is amended to read as follows:
          ``(1) perform the duties of the trustee as specified 
        in section 704(2), (5), (7), (8), (9), (10), (11), and 
        (12);''.
    (d) Official Form.--The Advisory Committee on Bankruptcy 
Rules of the Judicial Conference of the United States shall 
propose for adoption an Official Bankruptcy Form to be used to 
file a proof of multiple claim for wages owed to employees of 
the debtor.
    Page 358, after line 18, insert the following (and make 
such technical and conforming changes as may be appropriate):

SEC. 1004. EXPANDED DEFINITION OF FAMILY FARMER.

    Section 101(18) of title 11, United States Code, is 
amended--
          (1) in subparagraph (A)--
                  (A) by striking ``$1,500,000'' and inserting 
                ``$3,000,000'';
                  (B) by striking ``80'' and inserting ``65''; 
                and
                  (C) by striking ``the taxable year preceding 
                the taxable year'' and inserting ``at least 1 
                of the 3 taxable years preceding the taxable 
                year''; and
          (2) in subparagraph (B)--
                  (A) in clause (ii), by striking ``80'' and 
                inserting ``65''; and
                  (B) in clause (ii), by striking 
                ``$1,500,000'' and inserting ``$3,000,000''.
    Page 393, after line 13, insert the following (and make 
such technical and conforming changes as may be appropriate):

SEC. 1236. TECHNICAL CORRECTIONS TO THE COLLEGE SCHOLARSHIP FRAUD 
                    PREVENTION ACT OF 2000.

    (a) Sentencing Enhancement Guidelines.--Section 3 of the 
College Scholarship Fraud Prevention Act of 2000 (Public Law 
106-420) is amended--
          (1) by striking ``obtaining or providing of'' and 
        inserting ``the obtaining of, the offering of 
        assistance in obtaining''; and
          (2) by striking ``base offense level for 
        misrepresentation'' and inserting ``enhanced penalties 
        provided for in the Federal sentencing guidelines for 
        an offense involving fraud or misrepresentation''.
    (b) Limitation on Exempt Property.--Section 522(c)(4) of 
title 11, United States Code, as added by section 4 of the 
College Scholarship Fraud Prevention Act of 2000 (Public Law 
106-420), is amended--
          (1) by striking ``in the obtaining or providing of'' 
        and inserting ``or misrepresentation in the providing 
        of, the offering of assistance in obtaining, or the 
        furnishing of information to a consumer on,''; and
          (2) by striking ``(20 U.S.C. 1001)''.
    (c) Effective Date; Application of Amendments.--
          (1) Effective date.--Except as provided in paragraph 
        (2), this section and the amendments made by this 
        section shall take effect on November 1, 2000.
          (2) Application of section 522(c)(4) of title 11, 
        united states code.--Section 522(c)(4) of title 11, 
        United States Code, as added by section 4 of the 
        College Scholarship Fraud Prevention Act of 2000 
        (Public Law 106-420) and as amended by subsection (b) 
        of this section, shall apply only with respect to cases 
        commenced under title 11, United States Code, on or 
        after November 1, 2000.
    Beginning on page 419, strike lines 5 through 23 (and make 
such technical and conforming changes as may be appropriate).

                                  
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