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To temporarily reenact chapter 12 of title 11 of the United States Code.
To temporarily reenact chapter 12 of title 11 of the United States Code.
Summary
This bill temporarily restores Chapter 12 of the federal bankruptcy code, which provides bankruptcy protections specifically for family farmers. The bill reenacts this chapter for a two-year period beginning October 1, 1998, and ending September 30, 2000. Chapter 12 bankruptcy allows family farmers to reorganize their debts and continue farming operations while repaying creditors under a court-approved plan, rather than liquidating their farms. The bill takes effect on October 1, 1998.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Smith, Nick [R-MI-7] (R-MI)
2 cosponsors
Actions (3)
- Oct 9, 1998 Referred to the Subcommittee on Commercial and Administrative Law. · house
- Oct 5, 1998 Referred to the House Committee on the Judiciary. · house
- Oct 5, 1998 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE HOUSE OF REPRESENTATIVES
October 5, 1998
Mr. Smith of Michigan (for himself, Mr. Barcia, and Mr. Nadler) introduced the following bill; which was referred to the Committee on the Judiciary
A BILL
To temporarily reenact chapter 12 of title 11 of the United States Code.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. TEMPORARY REENACTMENT OF BANKRUPTCY PROVISIONS RELATING TO FAMILY FARMERS.
Chapter 12 of title 11 of the United States Code, as in effect on September 30, 1998, is hereby reenacted for the period beginning on October 1, 1998, and ending on September 30, 2000.
SEC. 2. EFFECTIVE DATE.
This Act shall take effect on October 1, 1998. <all>
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