To provide for the potential disallowance of certain claims.

SA 62. Mrs. BOXER submitted an amendment intended to be proposed by
her to the bill S. 256, to amend title 11 of the United States Code,
and for other purposes; which was ordered to lie on the table; as
follows:

On page 132, between lines 5 and 6, insert the following:

SEC. 234. DISALLOWANCE OF CLAIM IF BASED ON EXTENSION OF
CREDIT TO CERTAIN INDIVIDUALS UNDER 21 YEARS OF
AGE.

Title 11, United States Code, as amended by this Act, is
further amended by inserting after section 112 the following:

``Sec. 113. Disallowance of claim if based on extension of
credit to certain individuals under 21 years of age

``(a) In General.--In making a determination of whether to
disallow a claim under this title, the court shall consider
if the claim is based upon an extension to an individual of
unsecured credit and the factors listed in subsection (b) are
present. The factors listed in subsection (b) may be the
basis for a disallowance of a claim under this title.
``(b) Factors.--The factors under this subsection are the
following: if the individual, at the time unsecured credit
was extended--
``(1) was under 21 years of age;
``(2) did not have a co-obligor on such unsecured credit
who was a parent or spouse of the individual;
``(3) had an income level that was below or at the poverty
line (as defined by the Office of Management and Budget, and
revised annually in accordance with section 673(2) of the
Community Services Block Grant Act (42 U.S.C. 9902(2))); and
``(4) already had 6 or more unsecured credit cards.''.
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