Bill Sponsor
House Bill 5939
117th Congress(2021-2022)
Small Business Reorganization Technical Corrections Act
Introduced
Introduced
Introduced in House on Nov 9, 2021
Overview
Text
Introduced in House 
Nov 9, 2021
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Introduced in House(Nov 9, 2021)
Nov 9, 2021
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Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
H. R. 5939 (Introduced-in-House)


117th CONGRESS
1st Session
H. R. 5939


To amend title 11, United States Code, to make clarifications with respect to amendments made by the Small Business Reorganization Act, and for other purposes.


IN THE HOUSE OF REPRESENTATIVES

November 9, 2021

Mr. Neguse introduced the following bill; which was referred to the Committee on the Judiciary


A BILL

To amend title 11, United States Code, to make clarifications with respect to amendments made by the Small Business Reorganization Act, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Small Business Reorganization Technical Corrections Act”.

SEC. 2. Title 11 amendments.

(a) Definition of small business debtor.—Section 101(51D)(B)(iii) of title 11, United States Code, is amended by striking “an issuer” and all that follows and inserting “a corporation described in clause (ii).”.

(b) Definition of debtor.—Section 1182(1)(B) of title 11, United States Code, is amended—

(1) in clause (i), by inserting “under this title” after “affiliated debtors”; and

(2) in clause (iii), by striking “an issuer” and all that follows and inserting “a corporation described in clause (ii).”.

(c) Trustee.—Section 1183(b)(5) of title 11, United States Code, is amended—

(1) by striking “possession, perform” and inserting “possession—

“(A) perform”;

(2) in subparagraph (A), as so designated—

(A) by striking “, including operating the business of the debtor”; and

(B) by adding “and” at the end; and

(3) by adding at the end the following:

“(B) be authorized to operate the business of the debtor;”.

(d) Confirmation of plan.—Section 1191(c) of title 11, United States Code, is amended by striking paragraph (3) and inserting the following:

“(3) (A) The debtor will be able to make all payments under the plan; or

“(B) (i) there is a reasonable likelihood that the debtor will be able to make all payments under the plan; and

“(ii) the plan provides appropriate remedies, which may include the liquidation of nonexempt assets, to protect the holders of claims or interests in the event that the payments are not made.”.