ABSTRACT

Public Law 116-325: Bankruptcy Administration Improvement Act of 2020   [open pdf - 223KB]

This Public Law is "An Act [t]o ensure funding of the United States trustees, extend temporary bankruptcy judgeships, and for other purposes." From the Findings: "Congress finds the following: (1) Because of the importance of the goal that the bankruptcy system is self-funded, at no cost to the taxpayer, Congress has closely monitored the funding needs of the bankruptcy system, including by requiring periodic reporting by the Attorney General regarding the United States Trustee System Fund. (2) Congress has amended the various bankruptcy fees as necessary to ensure that the bankruptcy system remains self-supporting, while also fairly allocating the costs of the system among those who use the system. (3) Because the bankruptcy system is interconnected, the result has been a system of fees, including filing fees, quarterly fees in chapter 11 cases, and other fees, that together fund the courts, judges, United States trustees, and chapter 7 case trustees necessary for the bankruptcy system to function. (4) This Act and the amendments made by this Act-- (A) ensure adequate funding of the United States trustees, supports the preservation of existing bankruptcy judgeships that are urgently needed to handle existing and anticipated increases in business and consumer caseloads, and provides long-overdue additional compensation for chapter 7 case trustees whose caseloads include chapter 11 reorganization cases that were converted to chapter 7 liquidation cases; and (B) confirm the longstanding intention of Congress that quarterly fee requirements remain consistent across all Federal judicial districts."

Report Number:
Public Law 116-325; P.L. 116-325
Publisher:
Date:
2021-01-12
Copyright:
Public Domain
Retrieved From:
U.S. Government Publishing Office: http://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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