Conference Report Summary
Key Provisions of H.R. 3150
The managers of the House and Senate conference committee, formed to resolve disagreements between the House and Senate on H.R. 3150, the Bankruptcy Reform Act of 1998, submitted the following statement in explanation of the conference report recommendations. Means Testing The House version contained a prefiling formula to steer debtors with repayment capacity into Chapter 13 repayment plans. The Senate bill directed bankruptcy judges to consider the repayment capacity of debtors who had filed in Chapter 7 bankruptcy to determine whether they were appropriately filed. The compromise adopts the procedural approach of the Senate bill, directing bankruptcy judges to consider…
