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United States · Law · S

S. 3823 (117th)

Bankruptcy Threshold Adjustment and Technical Corrections Act

enactedUnited States· United States Congress· EN

Introduced

14 March 2022

Last action

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Status

Became Public Law No: 117-151.

Sponsors

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Subjects

Discovery layer

Source updated

10 August 2026

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Summary

Bankruptcy Threshold Adjustment and Technical Corrections Act This bill modifies provisions related to small business reorganization bankruptcies and wage earner's bankruptcies. Specifically, the bill makes permanent the increase of the amount of debt allowed to be carried by debtors to qualify for small business reorganization bankruptcy and provides that this debt limit is subject to adjustment for inflation. Additionally, it provides that a small business debtor includes a debtor that is an affiliate of certain publicly traded companies. Further, it authorizes the bankruptcy trustee to operate the business of the debtor if the debtor ceases to be a debtor in possession. The bill also increases the debt limit for individuals filing for bankruptcy under Chapter 13 (i.e., the wage earner's plan) and allows both secured and unsecured debt to count towards this single limit. (Currently, separate limits apply to secured and unsecured debt.)

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Documents

12 official files

Enrolled Bill (text)

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