81 FR 8748 - Revision of Certain Dollar Amounts in the Bankruptcy Code

JUDICIAL CONFERENCE OF THE UNITED STATES

Federal Register Volume 81, Issue 34 (February 22, 2016)

Certain dollar amounts in title 11 and title 28, United States Code, are increased.

[Federal Register Volume 81, Number 34 (Monday, February 22, 2016)]
[Notices]
[Pages 8748-8749]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-03607]



[[Page 8748]]

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JUDICIAL CONFERENCE OF THE UNITED STATES


Revision of Certain Dollar Amounts in the Bankruptcy Code

AGENCY: Judicial Conference of the United States.

ACTION: Notice.

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SUMMARY: Certain dollar amounts in title 11 and title 28, United States 
Code, are increased.

FOR FURTHER INFORMATION CONTACT: Michele Reed, Chief, Judicial Services 
Office, Administrative Office of the United States Courts, Washington, 
DC 20544, Telephone (202) 502-1800, or by email at 
[email protected].

SUPPLEMENTARY INFORMATION: Section 104(a) of title 11, United States 
Code, provides the mechanism for an automatic three-year adjustment of 
dollar amounts in certain sections of titles 11 and 28. Public Law 95-
598 (1978); Public Law 103-394 (1994); Public Law 109-8 (2005); and 
Public Law 110-406 (2008). The provision states:
    (a) On April 1, 1998, and at each 3-year interval ending 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), 1322(d), 1325(b)(3) 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), 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.

Revision of Certain Dollar Amounts in Bankruptcy Code

    Notice is hereby given that the dollar amounts are increased in the 
sections in title 11 and title 28, United States Code, as set out in 
the following chart. These increases do not apply to cases commenced 
before the effective date of the adjustments, April 1, 2016. Seven 
Official Bankruptcy Forms, (106C, 107, 122A-2, 122C-2, 201, 207, and 
410) and two Director's Forms (2000 and 2830), also will be amended to 
reflect these adjusted dollar amounts.

    Dated: February 16, 2016.
Michele Reed,
Chief, Judicial Services Office.

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  Affected sections of Title 28    Dollar amount to     New (adjusted)
 U.S.C. and the Bankruptcy Code       be adjusted      dollar amount \1\
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28 U.S.C.
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Section 1409(b)--a trustee may
 commence a proceeding arising
 in or related to a case to
 recover
    (1)--money judgment of or     $1,250............  $1,300.
     property worth less than.
    (2)--a consumer debt less     $18,675...........  $19,250.
     than.
    (3)--a non consumer debt      $12,475...........  $12,850.
     against a non insider less
     than.
------------------------------------------------------------------------
11 U.S.C.
------------------------------------------------------------------------
Section 101(3)--definition of     $186,825..........  $192,450.
 assisted person.
Section 101(18)--definition of    $4,031,575 (each    $4,153,150 (each
 family farmer.                    time it appears).   time it appears).
Section 101(19A)--definition of   $1,868,200 (each    $1,924,550 (each
 family fisherman.                 time it appears).   time it appears).
Section 101(51D)--definition of   $2,490,925 (each    $2,566,050 (each
 small business debtor.            time it appears).   time it appears).
Section 109(e)--debt limits for   $383,175 (each      $394,725 (each
 individual filing bankruptcy      time it appears).   time it appears)
 under chapter 13.
                                  $1,149,525 (each    $1,184,200 (each
                                   time it appears).   time it appears).
Section 303(b)--minimum
 aggregate claims needed for the
 commencement of an involuntary
 chapter 7 or 11 petition
    (1)--in paragraph (1).......  $15,325...........  $15,775.
    (2)--in paragraph (2).......  $15,325...........  $15,775.
Section 507(a)--priority
 expenses and claims
    (1)--in paragraph (4).......  $12,475...........  $12,850.
    (2)--in paragraph (5)(B)(i).  $12,475...........  $12,850.
    (3)--in paragraph (6)(B)....  $6,150............  $6,325.
    (4)--in paragraph (7).......  $2,775............  $2,850.
Section 522(d)--value of
 property exemptions allowed to
 the debtor
    (1)--in paragraph (1).......  $22,975...........  $23,675.
    (2)--in paragraph (2).......  $3,675............  $3,775.
    (3)--in paragraph (3).......  $575..............  $600.
                                  $12,250...........  $12,625.
    (4)--in paragraph (4).......  $1,550............  $1,600.
    (5)--in paragraph (5).......  $1,225............  $1,250.
                                  $11,500...........  $11,850.
    (6)--in paragraph (6).......  $2,300............  $2,375.
    (7)--in paragraph (8).......  $12,250...........  $12,625.
    (8)--in paragraph (11)(D)...  $22,975...........  $23,675.
Section 522(f)(3)--exception to   $6,225............  $6,425.
 lien avoidance under certain
 state laws.

[[Page 8749]]

 
Section 522(f)(4)--items          $650 (each time it  $675 (each time it
 excluded from definition of       appears).           appears).
 household goods for lien
 avoidance purposes.
Section 522(n)--maximum           $1,245,475........  $1,283,025.
 aggregate value of assets in
 individual retirement accounts
 exempted.
Section 522(p)--qualified         $155,675..........  $160,375.
 homestead exemption.
Section 522(q)--state homestead   $155,675..........  $160,375.
 exemption.
Section 523(a)(2)(C)--exceptions
 to discharge
    (1)--in paragraph (i)(I)--    $650..............  $675.
     consumer debts for luxury
     goods or services incurred
     < 90 days before filing
     owed to a single creditor
     in the aggregate.
    (2)--in paragraph (i)(II)--   $925..............  $950.
     cash advances incurred < 70
     days before filing in the
     aggregate.
Section 541(b)--property of the
 estate exclusions
    (1)--in paragraph (5)(C)--    $6,225............  $6,425.
     education IRA funds in the
     aggregate.
    (2)--in paragraph (6)(C)--    $6,225............  $6,425.
     pre-purchased tuition
     credits in the aggregate.
Section 547(c)(9)--preferences,   $6,225............  $6,425.
 trustee may not avoid a
 transfer if, in a case filed by
 a debtor whose debts are not
 primarily consumer debts, the
 aggregate value of property is
 less than.
Section 707(b)--dismissal of a
 chapter 7 case or conversion to
 chapter 11 or 13 (means test)
    (1)--in paragraph             $7,475............  $7,700.
     (2)(A)(i)(I).
    (2)--in paragraph             $12,475...........  $12,850.
     (2)(A)(i)(II).
    (3)--in paragraph             $1,875............  $1,925.
     (2)(A)(ii)(IV).
    (4)--in paragraph             $7,475............  $7,700.
     (2)(B)(iv)(I).
    (5)--in paragraph             $12,475...........  $12,850.
     (2)(B)(iv)(II).
    (6)--in paragraph (5)(B)....  $1,250............  $1,300.
    (7)--in paragraph (6)(C)....  $675..............  $700.
    (8)--in paragraph             $675..............  $700.
     (7)(A)(iii).
Section 1322(d)--contents of      $675 (each time it  $700 (each time it
 chapter 13 plan, monthly income.  appears).           appears).
Section 1325(b)--chapter 13       $675 (each time it  $700 (each time it
 confirmation of plan,             appears).           appears).
 disposable income.
Section 1326(b)(3)--payments to   $25...............  $25.
 former chapter 7 trustee.
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\1\ The New (Adjusted) Dollar Amounts reflect a 3.016 percent increase,
  rounded to the nearest $25.

[FR Doc. 2016-03607 Filed 2-19-16; 8:45 am]
BILLING CODE 2210-55-P