Notes on 11 U.S.C. § 104 : US Code - Notes

Search Notes on 11 U.S.C. § 104 : US Code - Notes

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2555; Pub. L. 103-394,
title I, Sec. 108(e), Oct. 22, 1994, 108 Stat. 4112; Pub. L. 109-8,
title I, Sec. 102(j), title II, Secs. 224(e)(2), 226(b), title III,
Sec. 322(b), title IV, Sec. 432(c), title X, Sec. 1002, title XII,
Sec. 1202, Apr. 20, 2005, 119 Stat. 35, 65, 67, 97, 110, 186, 193.)
HISTORICAL AND REVISION NOTES
LEGISLATIVE STATEMENTS
Section 104 represents a compromise between the House bill and
the Senate amendment with respect to the adjustment of dollar
amounts in title 11. The House amendment authorizes the Judicial
Conference of the United States to transmit a recommendation for
the uniform percentage of adjustment for each dollar amount in
title 11 and in 28 U.S.C. 1930 to the Congress and to the President
before May 1, 1985, and before May 1 of every sixth year
thereafter. The requirement in the House bill that each such
recommendation be based only on any change in the cost-of-living
increase during the period immediately preceding the recommendation
is deleted.
SENATE REPORT NO. 95-989
This section requires that the Director of the Administrative
Office of the U. S. Courts report to Congress and the President
before Oct. 1, 1985, and before May 1 every 6 years thereafter a
recommendation for adjustment in dollar amounts found in this
title. The Committee feels that regular adjustment of the dollar
amounts by the Director will conserve congressional time and yet
assure that the relative dollar amounts used in the bill are
maintained. Changes in the cost of living should be a significant,
but not necessarily the only, factor considered by the Director.
The fact that there has been an increase in the cost of living does
not necessarily mean that an adjustment of dollar amounts would be
needed or warranted.
HOUSE REPORT NO. 95-595
This section requires the Judicial Conference to report to the
Congress every four years after the effective date of the
bankruptcy code any changes that have occurred in the cost of
living during the preceding four years, and the appropriate
adjustments to the dollar amounts in the bill. The dollar amounts
are found primarily in the exemption section (11 U.S.C. 522), the
wage priority (11 U.S.C. 507), and the eligibility for chapter 13
(11 U.S.C. 109). This section requires that the Conference
recommend uniform percentage changes in these amounts based solely
on cost of living changes. The dollar amounts in the bill would not
change on that recommendation, absent Congressional veto. Instead,
Congress is required to take affirmative action, by passing a law
amending the appropriate section, if it wishes to accomplish the
change.
If the Judicial Conference has policy recommendations concerning
the appropriate dollar amounts in the bankruptcy code based other
than on cost of living considerations there are adequate channels
through which it may communicate its views. This section is solely
for the housekeeping function of maintaining the dollar amounts in
the code at fairly constant real dollar levels.
AMENDMENTS
2005 - Subsec. (b)(1). Pub. L. 109-8, Sec. 1202(1)-(4), in
introductory provisions, inserted "101(19A)," after "101(18),",
"522(f)(3) and 522(f)(4)," after "522(d),", and "541(b),
547(c)(9)," after "523(a)(2)(C)," and substituted "1322(d),
1325(b), and 1326(b)(3) of this title and section 1409(b) of title
28" for "and 1325(b)(3)".
Pub. L. 109-8, Sec. 1002, inserted "101(18)," after "101(3)," in
introductory provisions.
Pub. L. 109-8, Sec. 432(c), inserted "101(51D)," after "101(3),"
in introductory provisions.
Pub. L. 109-8, Sec. 322(b), inserted "522(p), 522(q)," after
"522(n)," in introductory provisions.
Pub. L. 109-8, Sec. 226(b), inserted "101(3)," after "sections"
in introductory provisions.
Pub. L. 109-8, Sec. 224(e)(2), inserted "522(n)," after "522(d),"
in introductory provisions.
Pub. L. 109-8, Sec. 102(j), substituted "523(a)(2)(C), 707(b),
and 1325(b)(3)" for "and 523(a)(2)(C)" in introductory provisions.
Subsec. (b)(2). Pub. L. 109-8, Sec. 1202(1)-(3), (5), inserted
"101(19A)," after "101(18),", "522(f)(3) and 522(f)(4)," after
"522(d),", and "541(b), 547(c)(9)," after "523(a)(2)(C)," and
substituted "1322(d), 1325(b), and 1326(b)(3) of this title and
section 1409(b) of title 28" for "and 1325(b)(3) of this title".
Pub. L. 109-8, Sec. 1002, inserted "101(18)," after "101(3),".
Pub. L. 109-8, Sec. 432(c), inserted "101(51D)," after "101(3),".
Pub. L. 109-8, Sec. 322(b), inserted "522(p), 522(q)," after
"522(n),".
Pub. L. 109-8, Sec. 226(b), inserted "101(3)," after "sections".
Pub. L. 109-8, Sec. 224(e)(2), inserted "522(n)," after
"522(d),".
Pub. L. 109-8, Sec. 102(j), substituted "523(a)(2)(C), 707(b),
and 1325(b)(3)" for "and 523(a)(2)(C)".
1994 - Pub. L. 103-394 designated existing provisions as subsec.
(a) and added subsec. (b).
EFFECTIVE DATE OF 2005 AMENDMENT
Amendment by Pub. L. 109-8 effective 180 days after Apr. 20,
2005, with amendments by sections 102(j), 224(e)(2), 226(b),
432(c), 1002, and 1202 of Pub. L. 109-8 not applicable with respect
to cases commenced under this title before such effective date,
except as otherwise provided, and amendment by section 322(b) of
Pub. L. 109-8 applicable with respect to cases commenced under this
title on or after Apr. 20, 2005, see section 1501 of Pub. L. 109-8,
set out as a note under section 101 of this title.
EFFECTIVE DATE OF 1994 AMENDMENT
Amendment by Pub. L. 103-394 effective Oct. 22, 1994, and not
applicable with respect to cases commenced under this title before
Oct. 22, 1994, see section 702 of Pub. L. 103-394, set out as a
note under section 101 of this title.
TERMINATION OF REPORTING REQUIREMENTS
For termination, effective May 15, 2000, of provisions of law
requiring submittal to Congress of any annual, semiannual, or other
regular periodic report listed in House Document No. 103-7 (in
which a report required under subsection (a) of this section is
listed on page 12), see section 3003 of Pub. L. 104-66, as amended,
set out as a note under section 1113 of Title 31, Money and
Finance.
ADJUSTMENT OF DOLLAR AMOUNTS
By notice dated Feb. 14, 2007, 72 F.R. 7082, the Judicial
Conference of the United States adjusted the dollar amounts in
provisions specified in subsec. (b) of this section, effective Apr.
1, 2007, as follows:
28 U.S.C. Dollar amount to be New (adjusted)
adjusted dollar amount
--------------------------------------------------------------------
1409(b) - a trustee
may commence a
proceeding arising
in or related to a
case to recover:
(1) - money $1,000 $1,100
judgment of or
property worth
less than
(2) - a consumer 15,000 16,425
debt less than
(3) - a non 10,000 10,950
consumer debt
against a non
insider less than
--------------------------------------------------------------------
11 U.S.C. Dollar amount to be New (adjusted)
adjusted dollar amount
--------------------------------------------------------------------
Section 101(3) - $150,000 $164,250
definition of
assisted person
Section 101(18) - 3,237,000(!1) 3,544,525(!1)
definition of
family farmer
101(19A) - 1,500,000(!1) 1,642,500(!1)
definition of
family fisherman
101(51D) - 2,000,000(!1) 2,190,000(!1)
definition of small
business debtor
Section 109(e) - 307,675(!1) 336,900(!1)
allowable debt
limits for
individual filing
bankruptcy under
Chapter 13
922,975(!1)
1,010,650(!1)
Section 303(b) -
minimum aggregate
claims needed for
the commencement of
involuntary chapter
7 or chapter 11
bankruptcy:
(1) - in 12,300 13,475
paragraph (1)
(2) - in 12,300 13,475
paragraph (2)
Section 507(a) -
priority expenses
and claims
(1) - in 10,000 10,950
paragraph (4)
(2) - in 10,000 10,950
paragraph (5)
(3) - in 4,925 5,400
paragraph (6)
(4) - in 2,225 2,425
paragraph (7)
Section 522(d) -
value of property
exemptions allowed
to the debtor
(1) - in 18,450 20,200
paragraph (1)
(2) - in 2,950 3,225
paragraph (2)
(3) - in 475 525
paragraph (3)
9,850
10,775
(4) - in 1,225 1,350
paragraph (4)
(5) - in 975 1,075
paragraph (5)
9,250
10,125
(6) - in 1,850 2,025
paragraph (6)
(7) - in 9,850 10,775
paragraph (8)
(8) - in 18,450 20,200
paragraph (11)(D)
522(f)(3) - 5,000 5,475
exception to lien
avoidance under
certain state laws
522(f)(4) - items 500(!1) 550(!1)
excluded from
definition of
household goods for
lien avoidance
purposes
522(n) - maximum 1,000,000 1,095,000
aggregate value of
assets in
individual
retirement accounts
exempted
522(p) - qualified 125,000 136,875
homestead exemption
522(q) - state 125,000 136,875
homestead exemption.
523(a)(2)(C) -
exceptions to
discharge:
in subclause 500 550
(i)(I) - consumer
debts, incurred <
= 90 days before
filing owed to a
single creditor
in the aggregate
in subclause 750 825
(i)(II) - cash
advances incurred
< = 70 days
before filing in
the aggregate
541(b) - property
of the estate
exclusions:
(1) - in 5,000 5,475
paragraph (5)(C)
- education IRA
funds in the
aggregate
(2) - in 5,000 5,475
paragraph (6)(C)
- pre-purchased
tuition credits
in the aggregate
547(c)(9) - 5,000 5,475
preferences,
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 6,000 6,575
paragraph
(2)(A)(i)(I)
(2) - in 10,000 10,950
paragraph
(2)(A)(i)(II)
(3) - in 1,500 1,650
paragraph
(2)(A)(ii)(IV)
(4) - in 1,000 1,100
paragraph (5)(B)
(5) - in 525 575
paragraph 6(C)
(6) - in 525 575
paragraph 7(A)
1322(d) - contents 525(!1) 575(!1)
of chapter 13 plan,
monthly income
1325(b) - chapter 525(!1) 575(!1)
13 confirmation of
plan, disposable
income
1326(b)(3) - 25 25
payments to former
chapter 7 trustee
(!1) Each time it appears.
--------------------------------------------------------------------
Similar notices by the Judicial Conference of the United States
adjusting the dollar amounts in provisions specified in subsec. (b)
of this section, were contained in the following:
Feb. 18, 2004, 69 F.R. 8482, effective Apr. 1, 2004.
Feb. 13, 2001, 66 F.R. 10910, effective Apr. 1, 2001.
Feb. 3, 1998, 63 F.R. 7179, effective Apr. 1, 1998.