Sec. 110. Bankruptcy protections

392 words·~2 min read·/bill/116/hr/6321/ih/section-110

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 522 of title 11, United States Code, is amended— in subsection (d)(1), by striking $15,000 and inserting $100,000 ; and by adding at the end the following: Notwithstanding any other provision of applicable nonbankruptcy law, a debtor in any State may exempt from property of the estate the property described in subsection (d)(1) not to exceed the value in subsection (d)(1) if the exemption for such property permitted by applicable nonbankruptcy law is lower than that amount. .

Section 1328 of title 11, United States Code, is amended by adding at the end the following: A debtor shall not be denied a discharge under this section because, as of the date of discharge, the debtor did not make 6 or fewer payments directly to the holder of a debt secured by real property. Notwithstanding subsections

(a)and (b), upon the debtor’s request, the court shall grant a discharge of all debts provided for in the plan that are dischargeable under subsection

(a)if the debtor— has made payments under a confirmed plan for at least 1 year; and is experiencing a loss of income or increase in expenses due, directly or indirectly, to the coronavirus disease 2019 (COVID–19) pandemic. . Section 1329 of title 11, United States Code, is amended by adding at end the following: Subject to paragraph (3), for cases confirmed prior to the date of enactment of this subsection, the plan may be modified upon the request of the debtor if— the debtor is experiencing or has experienced a material financial hardship due, directly or indirectly, to the coronavirus disease 2019 (COVID–19) pandemic; and the modification is approved after notice and a hearing. A modification under paragraph

(1)may include extending the period of time for payments on claims not later than 7 years after the date on which the first payment under the original confirmed plan was due. Sections 1322(a), 1322(b), 1323(c), and the requirements of section 1325(a) shall apply to any modification under paragraph (1). . The amendments made by subsections

(a)and

(b)shall apply to any case commenced before, on, or after the date of enactment of this Act. The amendment made by subsection

(c)shall apply to any case for which a plan has been confirmed under section 1325 of title 11, United States Code, before the date of enactment of this Act.