To amend title 11 of the United States Code to limit the value of certain real and personal property that the debtor may elect to exempt under State or local law.
Abolition of Bankruptcy Havens Amendments of 1994 - Amends Federal bankruptcy law to provide that as a result of electing to exempt property that is exempt under State or local law, an individual debtor may not exempt an aggregate interest of more than $50,000 in real or personal property: (1) used as the debtor's (or a dependents') residence; (2) in a cooperative that owns property used by the debtor (or a dependent) as a residence; or (3) in a burial plot for the debtor (or a dependent).
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1066-1067)
Referred to the House Committee on Judiciary.
Referred to the Subcommittee on Economic and Commercial Law.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line