S.Amdt. 3741

SA 3741. Mr. NELSON of Florida submitted an amendment intended to be
proposed to amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for
himself and Mrs. Lincoln) to the bill S. 3217, to promote the financial
stability of the United States by improving accountability and
transparency in the financial system, to end ``too big to fail'', to
protect the American taxpayer by ending bailouts, to protect consumers
from abusive financial services practices, and for other purposes;
which was ordered to lie on the table; as follows:

On page 206, strike line 12 and all that follows through
page 208, line 21.
On page 208, line 22, strike ``(D)'' and insert ``(A)''.
On page 226, strike lines 3 through 19.
On page 227, line 8, strike ``(E)'' and insert ``(B)''.
On page 227, line 17, strike ``(F)'' and insert ``(C)''.
On page 227, beginning on line 20, strike ``the provisions
of subparagraph (A) of this paragraph and''.
On page 230, lines 4, 8, and 9, strike ``(F)'' each place
that term appears and insert ``(C)''.
On page 231, line 3, strike ``(G)'' and insert ``(D)''.
On page 236, beginning on line 21, strike ``appointment of
the Corporation as receiver'' and insert ``transfer''
On page 237, line 1, strike ``(i) Receivership.--''.
On page 237, line 6, strike ``under paragraph (8)(A)''.
On page 237, line 12, strike ``receiver)'' and all that
follows through page 238, line 3 and insert ``receiver).''.
On page 237, strike line 18 and all that follows through
page 238, line 8.
On page 239, line 9, strike ``(12)'' and insert ``(11)''.
On page 239, line 21, strike ``(13)'' and insert ``(12)''.
On page 241, beginning on line 17, strike ``to the rights''
and all that follows through ``seq.),'' on line 24.
On page 242, line 12, strike ``(14)'' and insert ``(13)''.
On page 242, line 22, strike ``(15)'' and insert ``(14)''.
On page 243, line 8, strike ``(16)'' and insert ``(15)''.
On page 296, between lines 15 and 16, insert the following:
(d) Repeal of Safe Harbor Treatment in the Bankruptcy
Code.--Title 11, United States Code, is amended--
(1) in section 103(a), by striking ``chapter'' and all that
follows through ``apply'' and inserting ``chapter, sections
307, 362(n), 557, and 562 apply'';
(2) in section 362--
(A) in subsection (b)--
(i) by striking paragraphs (6), (7), (17), and (27);
(ii) by redesignating paragraphs (8) through (16) as
paragraphs (5) through (13), respectively;
(iii) by redesignating paragraphs (18) through (26) as
paragraphs (14) through (22), respectively;
(iv) by redesignating paragraph (28) as paragraph (23); and
(v) in the undesignated matter at the end, by striking
``(12) and (13)'' and inserting ``(9) and (10)''; and
(B) by striking subsection (o);
(3) in section 546--
(A) in subsection (e)--
(i) by striking ``101 or'';
(ii) by striking ``101, 741,'' and inserting ``741''; and
(iii) by inserting ``and except in a case under chapter 11
or 15,'' before ``the trustee'';
(B) in subsection (f), by inserting ``and except in a case
under chapter 11 or chapter 15,'' before ``the trustee'';
(C) by striking subsections (g) and (j); and
(D) by redesignating subsections (h) and (i) as subsections
(g) and (h), respectively;
(4) in section 548(d)(2)--
(A) by striking subparagraphs (C) through (E);
(B) in subparagraph (A), by adding ``and'' at the end; and
(C) in subparagraph (B), by striking the semicolon at the
end and inserting a period;
(5) in section 553--
(A) in subsection (a), by striking ``(except for a setoff
of a kind described in section 362(b)(6), 362(b)(7),
362(b)(17), 362(b)(27), 555, 556, 559, 560, or 561)'' each
place that term appears; and
(B) in subsection (b), by striking ``Except with respect to
a setoff of a kind described in section 362(b)(6), 362(b)(7),
362(b)(17), 362(b)(27), 555, 556, 559, 560, or 561, if a''
and inserting ``If a'';
(6) by striking sections 555, 556, 559, 560, and 561 and
inserting ``[Repealed].'';
(7) in the table of sections for subchapter III of chapter
5, by striking the items relating to sections 555, 556, 559,
560, and 561;
(8) in section 901--
(A) by striking ``555, 556,''; and
(B) by striking ``559, 560, 561,'';
(9) in section 1519, by striking subsection (f); and
(10) in section 1521, by striking subsection (f).
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