To extend permanently chapter 12 of title 11, United States Code, and to amend the Internal Revenue Code of 1986 to facilitate the bankruptcy and debt restructuring process relating to farmers.

referredUnited States· United States Congress· EN

Introduced

25 September 1998

Last action

1 October 1998 · Referred

Status

Referred to the Subcommittee on Commercial and Administrative Law.

Summary

Amends the Bankruptcy Judges, United States Trustees, and Family Farmer Bankruptcy Act of 1986 to repeal the termination date for bankruptcy law governing debt adjustments of family farmers with regular annual income (thus making such law permanent). Amends the Internal Revenue Code to apply its rules relating to individuals' title 11 (bankruptcy) cases to such family farmer debt adjustments. Declares that gross income of the debtor's estate, for tax purposes, shall include any income in connection with abandonment to the debtor of property burdensome to the estate or inconsequential in value, if the income arose before abandonment. Excludes such income from the debtor's gross income.

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Timeline

25 September 1998
Introduced
Referred to House Judiciary
Source: IntroReferral
25 September 1998
Introduced
Referred to the Committee on the Judiciary, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Source: IntroReferral
25 September 1998
Introduced
Introduced in House
Source: IntroReferral
25 September 1998
Introduced
Introduced in House
Source: IntroReferral
1 October 1998
Referred
Referred to the Subcommittee on Commercial and Administrative Law.
Source: Committee

Votes

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Versions

Introduced in House · 25 September 1998 · Download file

Documents

3 official files

Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN · 25 September 1998
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Introduced in House (PDF)
Introduced in House · EN · 25 September 1998
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Introduced in House
summary · EN · 25 September 1998
Open at official source
Leesvertaling
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Related records

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Sources

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Official source: https://www.congress.gov/bill/105th-congress/house-bill/4645
Open data entity: https://api.congress.gov/v3/bill/105/hr/4645
us · 105-hr-4645 · source updated 2 January 2025