S. 473 – Reading Mode | Legislate.dev

117th CONGRESS

1st Session

S. 473

IN THE SENATE OF THE UNITED STATES

February 25, 2021

Mr. Durbin (for himself and Mr. Grassley) introduced the following bill; which was read twice and referred to the Committee on the Judiciary

A BILL

To amend the CARES Act to extend the sunset for the definition of a small business debtor, and for other purposes.

Short title

This Act may be cited as the COVID–19 Bankruptcy Relief Extension Act of 2021.

Extensions

(a)

In general

Section 1113 of the CARES Act (Public Law 116–136) is amended—

(1)

in subsection (a)(5) (11 U.S.C. 1182 note), by striking 1 year and inserting 2 years; and

(2)

in subsection (b)(2)(B) (11 U.S.C. 101 note), by striking 1 year and inserting 2 years.

(b)

Modification of plan after confirmation

(1)

Section 1329(d)(1) of title 11, United States Code, is amended, in the matter preceding subparagraph (A), by striking this subsection and inserting the COVID–19 Bankruptcy Relief Extension Act of 2021.

(2)

Section 1113(b)(1)(D)(ii) of the CARES Act (11 U.S.C. 1329 note) is amended by striking this Act and inserting the COVID–19 Bankruptcy Relief Extension Act of 2021.

(c)

Bankruptcy relief

Section 1001 of division FF of the Consolidated Appropriations Act, 2021 (Public Law 116–260) is amended by striking the date that is 1 year after the date of enactment of this Act each place the term appears and inserting March 27, 2022.