[Federal Register Volume 72, Number 30 (Wednesday, February 14, 2007)]
[Notices]
[Pages 7082-7083]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-2501]


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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 and title 28, 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 104(b) of title 11, United States 
Code, provides the mechanism for an automatic 3-year adjustment of 
dollar amounts in certain sections of titles 11 and 28. Bankruptcy 
Reform Act of 1994, Public Law No. 103-394, Sec.  108(e), (1994) as 
amended by Bankruptcy Abuse Prevention and Consumer Protection Act of 
2005, Public Law No. 109-8, Sec.  102(j), (2005). The 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] and section 1409(b) of title 28 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 101(3), 101(18), 
101(19A), 101(51D), 109(e), 303(b), 507(a), 522(d), 522(f)(3) and 
522(f)(4), 522(n), 522(p), 522(q), 523(a)(2)(C), 541(b), 547(c)(9), 
707(b), 1322(d), 1325(b), and 1326(b)(3) [of the Bankruptcy Code] and 
section 1409(b) of title 28.
    (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 and title 28, 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, 2007. 
Official Bankruptcy Forms 6E and 10 also will be amended to reflect 
these adjusted dollar amounts.

    Dated: February 7, 2007.
Francis F. Szczebak,
Chief, Bankruptcy Judges Division.

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                                   Dollar amount to     New (adjusted)
                                      be adjusted        dollar amount
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28 U.S.C.:
    1409(b)--a trustee may
     commence a proceeding
     arising in or related to a
     case to recover:
        (1)--money judgment of    $1,000............  $1,100
         or property worth less
         than.
        (2)--a consumer debt      $15,000...........  $16,425
         less than.
        (3)--a non consumer debt  $10,000...........  $10,950
         against a non insider
         less than.
11 U.S.C.:
    Section 101(3)--definition    $150,000..........  $164,250
     of assisted person.
    Section 101(18)--definition   $3,237,000 (each    $3,544,525 (each
     of family farmer.             time it appears).   time it appears)
    101(19A)--definition of       $1,500,000 (each    $1,642,500 (each
     family fisherman.             time it appears).   time it appears)
    101(51D)--definition of       $2,000,000 (each    $2,190,000 (each
     small business debtor.        time it appears).   time it appears)
    Section 109(e)--allowable     $307,675 (each      $336,900 (each
     debt limits for individual    time it appears).   time it appears)
     filing bankruptcy under
     chapter 13.
                                  $922,975 (each      $1,010,650 (each
                                   time it appears).   time it appears)
    Section 303(b)--minimum
     aggregate claims needed for
     the commencement of
     involuntary chapter 7 or
     chapter 11 bankruptcy:
        (1)--in paragraph (1)...  $12,300...........  $13,475
        (2)--in paragraph (2)...  $12,300...........  $13,475
    Section 507(a)--priority
     expenses and claims
        (1)--in paragraph (4)...  $10,000...........  $10,950
        (2)--in paragraph (5)...  $10,000...........  $10,950
        (3)--in paragraph (6)...  $4,925............  $5,400
        (4)--in paragraph (7)...  $2,225............  $2,425
    Section 522(d)--value of
     property exemptions allowed
     to the debtor
        (1)--in paragraph (1)...  $18,450...........  $20,200
        (2)--in paragraph (2)...  $2,950............  $3,225
        (3)--in paragraph (3)...  $475..............  $525
                                  $9,850............  $10,775
        (4)--in paragraph (4)...  $1,225............  $1,350
        (5)--in paragraph (5)...  $975..............  $1,075
                                  $9,250............  $10,125
        (6)--in paragraph (6)...  $1,850............  $2,025
        (7)--in paragraph (8)...  $9,850............  $10,775
        (8)--in paragraph         $18,450...........  $20,200
         (11)(D).
    522(f)(3)--exception to lien  $5,000............  $5,475
     avoidance under certain
     state laws.
    522(f)(4)--items excluded     $500 (each time it  $550 (each time it
     from definition of            appears).           appears)
     household goods for lien
     avoidance purposes.

[[Page 7083]]

 
    522(n)--maximum aggregate     $1,000,000........  $1,095,000
     value of assets in
     individual retirement
     accounts exempted.
    522(p)--qualified homestead   $125,000..........  $136,875
     exemption.
    522(q)--state homestead       $125,000..........  $136,875
     exemption.
    523(a)(2)(C)--exceptions to
     discharge:
        in subclause (i)(I)--     $500..............  $550
         consumer debts,
         incurred <= 90 days
         before filing owed to a
         single creditor in the
         aggregate.
        in subclause (i)(II)--    $750..............  $825
         cash advances incurred
         <= 70 days before
         filing in the aggregate.
    541(b)--property of the
     estate exclusions:
        (1)--in paragraph         $5,000............  $5,475
         (5)(C)--education IRA
         funds in the aggregate.
        (2)--in paragraph         $5,000............  $5,475
         (6)(C)--pre-purchased
         tuition credits in the
         aggregate.
    547(c)(9)--preferences,       $5,000............  $5,475
     trustee may not avoid a
     transfer if, in a case
     filed by a debtor whose
     debts are not primarily
     consumer debts, the
     aggregate value of property
     is less than.
    707(b)--dismissal of a case
     or conversion to a case
     under chapter 11 or 13
     (means test):.
        (1)--in paragraph         $6,000............  $6,575
         (2)(A)(i)(I).
        (2)--in paragraph         $10,000...........  $10,950
         (2)(A)(i)(II).
        (3)--in paragraph         $1,500............  $1,650
         (2)(A)(ii)(IV).
        (4)--in paragraph (5)(B)  $1,000............  $1,100
        (5)--in paragraph 6(C)..  $525..............  $575
        (6)--in paragraph 7(A)..  $525..............  $575
    1322(d)--contents of chapter  $525 (each time it  $575 (each time it
     13 plan, monthly income.      appears).           appears)
    1325(b)--chapter 13           $525 (each time it  $575 (each time it
     confirmation of plan,         appears).           appears)
     disposable income.
    1326(b)(3)--payments to       $25...............  $25
     former chapter 7 trustee.
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[FR Doc. E7-2501 Filed 2-13-07; 8:45 am]
BILLING CODE 2210-55-P