Sec. 402. Trustee compensation
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Section 586 of title 28, United States Code, is amended— in subsection (a)— in paragraph (3)— in the matter preceding subparagraph (A), by striking chapter 7, 11 (including subchapter V of chapter 11), 12, 13, or 15 and inserting chapter 7, 10, 11 (including subchapter V of chapter 11), 12, or 15 ; and in subparagraph (C)— by striking chapters 12 and 13 of title 11 and inserting chapters 10 and 12 of title 11 ; and by striking sections 1224, 1229, 1324, and 1329 and inserting sections 1024, 1029, 1224, and 1229 ; by striking paragraph (6); and by redesignating paragraphs
(7)and
(8)as paragraphs
(6)and (7), respectively; by amending subsection
(b)to read as follows: If the number of cases under chapter 10 or 12 of title 11 or subchapter V of chapter 11 of title 11 commenced in a particular region so warrants, the United States trustee for such region may, subject to the approval of the Attorney General, appoint 1 or more individuals to serve as standing trustee, or designate 1 or more assistant United States trustees to serve in cases under such chapter. The United States trustee may also establish, maintain, and supervise a panel of private trustees that are eligible and available to serve as trustees in cases under chapter 10 of title 11. The United States trustee for such region shall supervise the performance of the duties of any such individual appointed under this subsection. ; in subsection (d)(1), by striking under subchapter V of chapter 11 or chapter 12 or 13 of title 11 each place the term appears and inserting chapter 10 or 12 of title 11 or subchapter V of ; chapter 11 of title 11 in subsection (e)— in paragraph (1), in the matter preceding subparagraph (A), by striking under subchapter V of chapter 11 or chapter 12 or 13 of title 11 and inserting chapter 12 of title 11 or subchapter V of chapter 11 ; in paragraph (2)— in the matter preceding subparagraph (A), by striking under subchapter V of chapter 11 or chapter 12 or 13 of title 11 and inserting chapter 12 of title 11 or subchapter V of ; chapter 11 of title 11 in subparagraph (A), by striking under subchapter V of chapter 11 or chapter 12 or 13 of title 11 and inserting chapter 12 of title 11 or subchapter V of ; chapter 11 of title 11 in subparagraph (B)(ii), by striking subparagraph (d)(1)(B) and inserting paragraph (1)(B) ; by redesignating paragraphs (3), (4), and
(5)as paragraphs (5), (6), and (7), respectively; and by inserting after paragraph
(2)the following: The Attorney General, after consultation with a United States trustee that has appointed an individual under subsection
(b)of this section to serve as standing trustee in cases under chapter 10 of title 11, shall fix— a maximum annual compensation for such individual consisting of— an amount not to exceed the 1.25 times the highest annual rate of basic pay in effect for a position at level IV of the Executive Schedule under section 5315 of title 5; and the cash value of employment benefits comparable to the employment benefits provided by the United States to individuals who are employed by the United States at the same rate of basic pay to perform similar services during the same period of time; and a percentage fee not to exceed 10 percent. An individual serving as standing trustee in cases under chapter 10 of title 11 shall collect such percentage fee from all payments received by such individual (including the value of property tendered to such individual) under plans in such cases for which such individual serves as standing trustee. Such individual shall pay to the United States trustee, and the United States trustee shall deposit in the United States Trustee System Fund— any amount by which the actual compensation of such individual exceeds 5 percent upon all payments received under repayment plans in such cases for which such individual serves as standing trustee; and any amount by which the percentage fee for all such cases exceeds— such individual’s actual compensation for such cases, as adjusted under subparagraph
(A)of paragraph (3); plus the actual, necessary expenses incurred by such individual as standing trustee in such cases. Subject to the approval of the Attorney General, any or all of the interest earned from the deposit of payments under repayment plans by such individual may be utilized to pay actual, necessary expenses without regard to the percentage limitation contained in paragraph (3)(B) of this subsection. ; and by striking subsection (f). Not later than 1 year after the date of enactment of this Act, the Attorney General shall promulgate regulations to implement a process for substituting a trustee under section 1001 of title 11, United States Code, when necessary.