To amend title 11, United States Code, to limit the value of certain real and personal property that an individual debtor may elect to exempt under State or local law; to make nondischargeable consumer debts for luxury goods and services acquired in the 90-day period ending on the date a case is commenced under such title; and to permit parties in interest to request the dismissal of cases under chapter 7 of such title.
Individual Bankruptcy Abuse Reform Act of 1999 - Amends Federal bankruptcy law to prohibit a debtor filing for bankruptcy from exempting an interest that exceeds $100,000 in value, in the aggregate, in: (1) real or personal property that the debtor or dependent uses as a residence; (2) a cooperative that owns property that the debtor or dependent uses as a residence; or (3) a burial plot for the debtor or dependent.
States that a discharge in bankruptcy shall not include consumer debts owed to a single creditor and aggregating more than $1,000 for luxury goods or services incurred by a debtor within 90 (currently 60) days before such discharge.
Deletes a provision which prohibits an interested party in a bankruptcy proceeding from requesting a dismissal of such action.
Introduced in House
Introduced in House
Referred to the House Committee on the Judiciary.
Referred to the Subcommittee on Commercial and Administrative Law.
Committee Consideration and Mark-up Session Held.
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