|Reprinted from the October 1997 ABI Journal
||October 1, 1997
Web posted and Copyright © October 1, 1997, American Bankruptcy Institute.
en. Grassley (R-IA), has introduced the "Investment in Education Act" (S. 1149), which would, among other features, amend §724(b) to exempt from subordination non-avoidable and perfected ad valorem property tax liens and to treat these liens as administrative expenses.
The House Judiciary Subcommittee on Commercial Law scheduled a hearing on the U.S. Trustee program for October 9, with the ABI invited to testify. The rights of chapter 7 and 13 panel trustees if removed by the U.S. Trustee and post-confirmation quarterly fees in chapter 11 will be covered.
The consumer credit industry's bankruptcy reform bill (H.R. 2500) was introduced on Sept. 17 by Reps. McCollum (R-FL) and Boucher (D-VA).
The NBRC Report is due October 20; access to the full text will be available from the NBRC area at ABI World.
Sen. Grassley plans to introduce legislation amending §548 to permit tithing in both chapter 7 and 13 cases. The NBRC rejected a similar proposal in August.
The General Accounting Office (GAO) has issued a report on non-case related travel of bankruptcy judges in the 14 districts seeking new positions. It was discussed last month at a Senate hearing on judgeships.
The EOUST's final rule on procedures for Suspension and Removal of Panel and Standing Trustees will be issued soon. The new rule incorporates some suggestions made during the comment period.
The GAO is studying options for a potential liquidation of Amtrak. The government-subsidized rail service suffers from high operating costs, unprofitable lines, and declining funding from Congress.