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Revision of Certain Dollar Amounts in the Bankruptcy Code

By Los Angeles Bankruptcy Attorney on February 23, 2016

(Effective April 1, 2016) – Source: 81 Fed. Reg. 8748-01, 2016 WL 684261 (Feb. 22, 2016)

Affected sections of Title 28 U.S.C. and the Bankruptcy Code Dollar amount to be adjusted New (adjusted) dollar amount1
28 U.S.C.:    
Section 1409(b)—a trustee may commence a proceeding arising in or related to a case to recover    
(1)—money judgment of or property worth less than $1,250 $1,300
(2)—a consumer debt less than $18,675 $19,250
(3)—a non consumer debt against a non insider less than $12,475 $12,850
     
11 U.S.C.:    
Section 101(3)—definition of assisted person $186,825 $192,450
Section 101(18)—definition of family farmer $4,031,575 (each time it appears) $4,153,150 (each time it appears)
Section 101(19A)—definition of family fisherman $1,868,200 (each time it appears) $1,924,550 (each time it appears)
Section 101(51D)—definition of small business debtor $2,490,925 (each time it appears) $2,566,050 (each time it appears)
Section 109(e)—debt limits for individual filing bankruptcy under chapter 13 $383,175 (each time it appears)
$1,149,525 (each time it appears)		 $394,725 (each time it appears)
$1,184,200 (each time it appears)
     
Section 303(b)—minimum aggregate claims needed for the commencement of an involuntary chapter 7 or 11 petition    
(1)—in paragraph (1) $15,325 $15,775
(2)—in paragraph (2) $15,325 $15,775
     
Section 507(a)—priority expenses and claims:    
(1)—in paragraph (4) $12,475 $12,850
(2)—in paragraph (5)(B)(i) $12,475 $12,850
(3)—in paragraph (6)(B) $6,150 $6,325
(4)—in paragraph (7) $2,775 $2,850
     
Section 522(d)—value of property exemptions allowed to the debtor    
(1)—in paragraph (1) $22,975 $23,675
(2)—in paragraph (2) $3,675 $3,775
(3)—in paragraph (3) $575
$12,250		 $600
$12,625
(4)—in paragraph (4) $1,550 $1,600
(5)—in paragraph (5) $1,225
$1,250		 $11,500
$11,850
(6)—in paragraph (6) $2,300 $2,375
(7)—in paragraph (8) $12,250 $12,625
(8)—in paragraph (11)(D) $22,975 $23,675
     
Section 522(f)(3)—exception to lien avoidance under certain state laws $6,225 $6,425
Section 522(f)(4)—items excluded from definition of household goods for lien avoidance purposes $650 (each time it appears) $675 (each time it appears)
Section 522(n)—maximum aggregate value of assets in individual retirement accounts exempted $1,245,475 $1,283,025
Section 522(p)—qualified homestead exemption $155,675 $160,375
Section 522(q)—state homestead exemption $155,675 $160,375
     
Section 523(a)(2)(C)—exceptions to discharge    
(1)—in paragraph (i)(I)—consumer debts for luxury goods or services incurred < 90 days before filing owed to a single creditor in the aggregate $650 $675
(2)—in paragraph (i)(II)—cash advances incurred < 70 days before filing in the aggregate $925 $950
     
Section 541(b)—property of the estate exclusions:    
(1)—in paragraph (5)(C)—education IRA funds in the aggregate $6,225 $6,425
(2)—in paragraph (6)(C)—pre-purchased tuition credits in the aggregate $6,225 $6,425
     
Section 547(c)(9)—preferences, trustee may not avoid a transfer if, in a case filed by a debtor whose debts are not primarily consumer debts, the aggregate value of property is less than $6,225 $6,425
     
Section 707(b)—dismissal of a chapter 7 case or conversion to chapter 11 or 13 (means test):    
(1)—in paragraph (2)(A)(i)(I) $7,475 $7,700
(2)—in paragraph (2)(A)(i)(II) $12,475 $12,850
(3)—in paragraph (2)(A)(ii)(IV) $1,875 $1,925
(4)—in paragraph (2)(B)(iv)(I) $7,475 $7,700
(5)—in paragraph (2)(B)(iv)(II) $12,475 $12,850
(6)—in paragraph (5)(B) $1,250 $1,300
(7)—in paragraph (6)(C) $675 $700
(8)—in paragraph (7)(A)(iii) $675 $700
Section 1322(d)—contents of chapter 13 plan, monthly income $675 (each time it appears) $700 (each time it appears)
Section 1325(b)—chapter 13 confirmation of plan, disposable income $675 (each time it appears) $700 (each time it appears)

1Section 1326(b)(3)—payments to former chapter 7 trustee stays at $25, no change

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