Public Law 117-151, Bankruptcy Threshold Adjustment and Technical Corrections Act

Public Law 117-151, the Bankruptcy Threshold Adjustment and Technical Corrections Act, took effect on June 21, 2022. It changed 11 parts of the United States Code.

Title 11, Section 101(51D)(B)(i): amended. Inserted “under this title” after “affiliated debtors” in section 101(51D)(B)(i) of title 11. 27, 2020.

Title 11, Section 101(51D)(B)(iii): amended. Replaced “an issuer” and the rest of clause (iii) with “a corporation described in clause (ii).” in section 101(51D)(B)(iii) of title 11. 27, 2020.

Title 11, Section 104(a): amended. Inserted “1182(1),” after “707(b),” in section 104(a) of title 11.

Title 11, Section 104(b): amended. Inserted “1182(1),” after “707(b),” in section 104(b) of title 11.

Title 11, Section 109: rewritten. Rewrote section 109 of title 11 by striking subsection (e) and inserting a new subsection (e) that limits chapter 13 debtors to individuals with regular income owing less than $2,750,000 in noncontingent, liquidated debts.

Title 11, Section 1182(1): rewritten. Rewrote section 1182(1) of title 11 to replace the small business debtor definition with the longer definition for a person engaged in commercial or business activities. 27, 2020.

Title 11, Section 1183(b)(5): amended. Replaced the opening of section 1183(b)(5) of title 11 so paragraph (A) now follows the debtor-in-possession clause and paragraph (B) was added. 27, 2020.

Title 11, Section 1183(b)(5)(A): amended. Struck “, including operating the business of the debtor” from section 1183(b)(5)(A) of title 11. 27, 2020.

Title 11, Section 1183(b)(5)(A): amended. Added “and” at the end of section 1183(b)(5)(A) of title 11. 27, 2020.

Title 11, Section 1183(b)(5): amended. Added section 1183(b)(5)(B) of title 11 authorizing operation of the debtor’s business. 27, 2020.

Title 11, Section 1191(c): rewritten. Rewrote paragraph (3) of section 1191(c) of title 11 to split the debtor-payment ability test and the reasonable-likelihood test into subparagraphs (A), (B)(i), and (B)(ii). 27, 2020.