S.1107 - Bankruptcy Judgeship Act of 2017115th Congress (2017-2018)
|Sponsor:||Sen. Coons, Christopher A. [D-DE] (Introduced 05/11/2017)|
|Committees:||Senate - Judiciary|
|Latest Action:||House - 09/06/2017 Held at the desk. (All Actions)|
This bill has the status Passed Senate
Here are the steps for Status of Legislation:
- Passed Senate
Summary: S.1107 — 115th Congress (2017-2018)All Information (Except Text)
Passed Senate amended (09/05/2017)
Bankruptcy Judgeship Act of 2017
(Sec. 2) This bill reauthorizes 14 temporary bankruptcy judgeships in specified judicial districts in Delaware, Florida, Maryland, Michigan, Puerto Rico, Virginia, Nevada, and North Carolina.
(Sec. 3) It authorizes the appointment of four additional temporary bankruptcy judges in Delaware, Florida, and Michigan.
(Sec. 4) The bill amends the federal judicial code to increase the quarterly fee imposed on certain chapter 11 (reorganization) debtors. Specifically, if the balance in the U.S. Trustee System Fund is less than $200 million, then a debtor with total quarterly disbursements of $1 million or more must pay a quarterly fee equal to $250,000 or 1% of disbursements, whichever is less.
It also specifies that for FY2018-FY2022, 98% of the quarterly fees collected must be deposited as offsetting collections to the U.S. Trustee System Fund and 2% must be deposited in the general fund of the Treasury.(Sec. 5) This section amends the federal bankruptcy code to include an unsecured claim by a governmental unit (e.g., a tax claim by the Internal Revenue Service) resulting from the sale, transfer, exchange, or disposition of farming property in chapter 12 bankruptcy (family farmer or fisherman reorganization) proceedings. Such a claim that arises before a debtor's discharge, regardless of whether the claim is pre-petition or post-petition, must be treated as a pre-petition claim, is not entitled to priority status, must be provided for under the bankruptcy plan, and is dischargeable.