S. 625, The Bankruptcy Reform Act, in the Senate: Selected Amendments Page: 3 of 6
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CRS-3
" Adjustments to the means test, authorized living expenses, and the
debtor's estate. The means test would be liberalized to create a "safe
harbor" and permit a trustee to decline to challenge a debtor for abusing
the Code if the debtor's monthly income exceeds 100% but does not
exceed 150% of the national or state median household income."1
Several amendments effected changes that identify specific items that
must be factored into the means test or permitted as living expenses. For
example, monthly expenses are amended to include: actual expenses paid
by the debtor for the care and support of an elderly, chronically ill, or
disabled household member or member of the debtor's immediate family
who is not a dependent;12 and, those incurred to maintain the safety of the
debtor and the debtor's family from family violence as defined under
federal law.13 The debtor's estate is amended to exclude employer and
employee contributions to specified retirement and health insurance
plans.14 And debtors who are homeowners may include the cost of
utilities, maintenance, repair, and homeowner's insurance and property
tax in living expenses.5 The Executive Office for the U.S. Trustees is
charged with developing appropriate bankruptcy-related living standards
within one year.16
" Jurisdictionalpre-filing requirements. Debtors would not be subject to
a mandatory requirement to produce tax returns in the bankruptcy case,
but would be required to do so pursuant to an authorized request from a
party in interest.17 Mandatory pre-filing credit counseling could take place
telephonically or on the Internet.18
" Attorney sanction. A debtor's attorney will be required to reimburse a
trustee for the costs of prosecuting a motion demonstrating abuse of the
Code when counsel's filing is found to be "frivolous" rather than "not
substantially justified."19
" Consumer credit information disclosure requirements. Several
amendments were adopted which would amend the Truth in Lending Act,
15 U.S.C. 1601 et seq. Open-ended credit plan electronic solicitations
would be required to be accompanied by information from the Federal
" S.Amdt. 2661, id. at S14674 (daily edition Nov. 17, 1999).
12 S.Amdt. 2522 , id. at S14665 (daily edition Nov. 17, 1999).
13 S.Amdt. 2528, id. at S14111 (daily edition Nov. 5, 1999).
14 S.Amdt. 2664, id. at S 14161.
15 S.Amdt. 2759, id. at S 14189.
16 Id.
17 S.Amdt. 2529, id. at S14608 (daily edition Nov. 16, 1999).
18 S.Amdt. 2659, id. at S14679 (daily edition Nov. 17, 1999).
19 S.Amdt. 2743, id. at S 14170 (daily edition Nov. 5, 1999).
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Jeweler, Robin. S. 625, The Bankruptcy Reform Act, in the Senate: Selected Amendments, report, January 28, 2000; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc815392/m1/3/?q=%221999-11%22: accessed July 16, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.