To amend the CARES Act to extend the sunset for the definition of a small business debtor, and for other purposes.
COVID-19 Bankruptcy Relief Extension Act of 2021
This bill extends existing provisions that provide relief to debtors in bankruptcy, including those related to the COVID-19 (i.e., coronavirus disease 2019) pandemic.
These provisions (1) exclude certain COVID-19 aid payments from income for the purposes of bankruptcy, and (2) increase the debt eligibility threshold for businesses qualifying for certain types of Chapter 11 reorganization bankruptcy. Currently, these provisions expire March 27, 2021. The bill extends these provisions for one year.
The bill also allows for modification of a Chapter 13 repayment plan for plans confirmed before the date of enactment of this bill if the debtor is experiencing material financial hardship due to COVID-19. Currently, such a modification is only available for plans confirmed before March 27, 2020.
Read twice and referred to the Committee on the Judiciary. (text: CR S900)
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H1480-1481)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 399 - 14 (Roll no. 88).(text: 3/16/2021 CR H1389)
Roll Call #88 (House)On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 399 - 14 (Roll no. 88). (text: 3/16/2021 CR H1389)
Roll Call #88 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate, read twice.
Measure laid before Senate by unanimous consent. (consideration: CR S1779)
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
Passed Senate with an amendment by Unanimous Consent.
Message on Senate action sent to the House.
Enacted as Public Law 117-5
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Without objection, the Chair laid before the House H.R. 1651 along with the Senate amendment thereto. (consideration: CR H1687)
Resolving differences -- House actions: On motion that the House agree to the Senate amendment Agreed to without objection.(text: CR H1687)
On motion that the House agree to the Senate amendment Agreed to without objection. (text: CR H1687)
Motion to reconsider laid on the table Agreed to without objection.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 117-5.
Became Public Law No: 117-5.