11 U.S.C. § 104 — Adjustment of dollar amounts

submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 212 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section adjusts certain bankruptcy dollar limits for inflation every three years, based on the Consumer Price Index, rounded to the nearest $25. The Judicial Conference must publish the new amounts each time, and the changes don't apply to cases already filed.

(a) On April 1, 1998, and every three years after that, each dollar amount listed in a specific set of bankruptcy code sections and in section 1409(b) of title 28 must be adjusted: (1) to match the change in the Consumer Price Index for All Urban Consumers over the most recent three-year period ending before the preceding January 1; and (2) rounded to the nearest $25. (b) By March 1, 1998, and every three years after that, the Judicial Conference of the United States must publish in the Federal Register the new dollar amounts that will take effect that April 1, for the same set of sections. (c) These adjustments do not apply to bankruptcy cases that were already filed before the adjustment took effect.

the actual law source: uscode.house.gov ↗public domain

(a)

On April 1, 1998, and at each 3-year interval ending on April 1 thereafter, each dollar amount in effect under sections 101(3), 101(18), 101(19A), 101(51D), 109(e), 303(b), 507(a), 522(d), 522(f)(3) and 522(f)(4), 522(n), 522(p), 522(q), 523(a)(2)(C), 541(b), 547(c)(9), 707(b), 1182(1), 1322(d), 1325(b), and 1326(b)(3) of this title and section 1409(b) of title 28 immediately before such April 1 shall be adjusted—

(1)

to reflect the change in the Consumer Price Index for All Urban Consumers, published by the Department of Labor, for the most recent 3-year period ending immediately before January 1 preceding such April 1, and

(2)

to round to the nearest $25 the dollar amount that represents such change.

(b)

Not later than March 1, 1998, and at each 3-year interval ending on March 1 thereafter, the Judicial Conference of the United States shall publish in the Federal Register the dollar amounts that will become effective on such April 1 under sections 101(3), 101(18), 101(19A), 101(51D), 109(e), 303(b), 507(a), 522(d), 522(f)(3) and 522(f)(4), 522(n), 522(p), 522(q), 523(a)(2)(C), 541(b), 547(c)(9), 707(b), 1182(1), 1322(d), 1325(b), and 1326(b)(3) of this title and section 1409(b) of title 28.

(c)

Adjustments made in accordance with subsection (a) shall not apply with respect to cases commenced before the date of such adjustments.

Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2555; Pub. L. 103–394, title I, § 108(e), Oct. 22, 1994, 108 Stat. 4112; Pub. L. 109–8, title I, § 102(j), title II, §§ 224(e)(2), 226(b), title III, § 322(b), title IV, § 432(c), title X, § 1002, title XII, § 1202, Apr. 20, 2005, 119 Stat. 35, 65, 67, 97, 110, 186, 193; Pub. L. 110–406, § 7, Oct. 13, 2008, 122 Stat. 4293; Pub. L. 117–151, § 2(b), June 21, 2022, 136 Stat. 1298.)

history & why it existsrecord from the source credit

1978Enacted · Pub. L. 95-598 · 92 Stat. 2555
1994Amended · Pub. L. 103-394 · 108 Stat. 4112
2005Amended · Pub. L. 109-8 · 119 Stat. 35, 65, 67, 97, 110, 186, 193
2008Amended · Pub. L. 110-406 · 122 Stat. 4293
2022Amended · Pub. L. 117-151 · 136 Stat. 1298

A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-598 on 1978-11-06.

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