A bill to amend title 28, United States Code, to increase the amount in controversy in diversity cases to $100,000, and to require diversity cases to be first submitted to arbitration.

Allows an action to be brought in district court under Federal diversity jurisdiction only if the claim has been submitted to arbitration (under rules issued by the Judicial Conference of the United States) and either: (1) the claim has been disposed of through such arbitration; or (2) it has not been so disposed of within a year after submission, through no fault of the plaintiff.

Amends the judicial code to increase the amount in controversy required for Federal diversity jurisdiction from $10,000 to $100,000.

Suspends the statute of limitations on bringing court action for a specified period while the claim is in arbitration proceedings.

Requires the district courts to hear anew actions previously submitted to arbitration.

Requires parties who have received a substantially less favorable result from a court judgment than from arbitration to pay all costs and reasonable fees to the opposing party.