[Federal Register Volume 66, Number 34 (Tuesday, February 20, 2001)]
[Notices]
[Pages 10910-10911]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-4106]


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JUDICIAL CONFERENCE OF THE UNITED STATES


Revision of Certain Dollar Amounts in the Bankruptcy Code 
Prescribed Under Section 104(b) of the Code

AGENCY: Judicial Conference of the United States.

ACTION: Notice.

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SUMMARY: Certain dollar amounts in title 11, United States Code, are 
increased.

FOR FURTHER INFORMATION CONTACT: Francis F. Szczebak, Chief, Bankruptcy 
Judges Division, Administrative Office of the United States Courts, 
Washington, DC 20544, telephone (202) 502-1900.

SUPPLEMENTARY INFORMATION: Section 108 of the Bankruptcy Reform Act of 
1994 established the mechanism for the automatic three-year adjustment 
of dollar amounts in certain sections of the Bankruptcy Code by adding 
subsection (b) to section 104 of title 11. That provision states:
    (b)(1) On April 1, 1998, and at each 3-year interval ending April 1 
thereafter, each dollar amount in effect under [the designated sections 
of the code] immediately before such April 1 shall be adjusted--
    (A) to reflect the change in the Consumer Price Index for All Urban 
Consumers, published by the Department of Labor, for the most recent 3-
year period ending immediately before January 1 preceding such April 1, 
and
    (B) to round to the nearest $25 the dollar amount that represents 
such change.
    (2) Not later than March 1, 1998, and at each 3-year interval 
ending on March 1 thereafter, the Judicial Conference of the United 
States shall publish in the Federal Register the dollar amounts that 
will become effective on such April 1 under sections 109(e), 303(b), 
507(a), 522(d), and 523(a)(2)(C) [of the Bankruptcy Code].
    (3) Adjustments made in accordance with paragraph (1) shall not 
apply with respect to cases commenced before the date of such 
adjustments.

Revision of Certain Dollar Amounts in Bankruptcy Code

    Notice is hereby given that the dollar amounts are increased in the 
sections in title 11, United States Code, as set out in the following 
chart. These increases do not apply to cases commenced before the 
effective date of the adjustments, i.e., April 1, 2001. Official 
Bankruptcy Forms 6E and 10 also will be amended to reflect these 
adjusted dollar amounts.

    Dated: February 13, 2001.
Francis F. Szczebak,
Chief, Bankruptcy Judges Division.

[[Page 10911]]



                                          Adjustment of Certain Dollar Amounts in Title 11, United States Code
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                11 U.S.C.                               Dollar amount to be adjusted                            New (adjusted) dollar amount
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Section 109(e)--allowable debt limits for  269,250 (each time it appears)........................  290,525 (each time it appears)
 filing bankruptcy under Chapter 13.       807,750 (each time it appears)........................  871,550 (each time it appears)
Section 303(b)--minimum aggregate claims
 needed for the commencement of an
 involuntary bankruptcy:
    (1)--in paragraph (1)................  10,775................................................  11,625
    (2)--in paragraph (2)................  10,775................................................  11,625
Section 507(a)--priority claims:
    (1)--in paragraph (3)................   4,300................................................  4,650
    (2)--in paragraph (4)(B)(i)..........   4,300................................................  4,650
    (3)--in paragraph (5)................   4,300................................................  4,650
    (4)--in paragraph (6)................   1,950................................................  2,100
Section 522(d)--value of property
 exemptions allowed to the debtor:
    (1)--in paragraph (1)................  16,150................................................  17,425
    (2)--in paragraph (2)................   2,575................................................   2,775
    (3)--in paragraph (3)................   425..................................................   450
                                            8,625................................................   9,300
    (4)--in paragraph (4)................   1,075................................................   1,150
    (5)--in paragraph (5)................   850..................................................   925
                                            8,075................................................   8,725
    (6)--in paragraph (6)................   1,625................................................   1,750
    (7)--in paragraph (8)................   8,625................................................   9,300
    (8)--in paragraph (11)(D)............  16,150................................................  17,425
Section 523(a)(2)(C)--``luxury goods and   1,075 (each time it appears)..........................  1,150 (each time it appears)
 services'' or cash advances obtained by
 the consumer debtor within 60 days
 before the filing of a bankruptcy
 petition, which are considered
 nondischargeable.
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[FR Doc. 01-4106 Filed 2-16-01; 8:45 am]
BILLING CODE 2210-55-P