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senate Bill S. 1237

Family Farmer Bankruptcy Clarification Act of 2017

bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on the Judiciary
    IntroducedMay 25th, 2017

Bill Details

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Title

Family Farmer Bankruptcy Clarification Act of 2017

Official Title

A bill to amend title 11 of the United States Code to clarify the rule allowing discharge as a nonpriority claim of governmental claims arising from the disposition of farm assets under chapter 12 bankruptcies.

Summary

Family Farmer Bankruptcy Clarification Act of 2017 This bill amends the federal bankruptcy code to include an unsecured claim by a governmental unit (e.g., a tax claim by the Internal Revenue Service) resulting from the sale, transfer, exchange, or disposition of farming property in chapter 12 bankruptcy (family farmer or fisherman reorganization) proceedings. Such a claim that arises before a debtor's discharge, regardless of whether the claim is pre-petition or post-petition, must be treated as a pre-petition claim, is not entitled to priority status, must be provided for under the bankruptcy plan, and is dischargeable.

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