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H.R. 339 (103rd): Secured Credit Availability Amendments of 1993

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The text of the bill below is as of Jan 5, 1993 (Introduced). The bill was not enacted into law.

HR 339 IH

103d CONGRESS

1st Session

H. R. 339

To amend title 11 of the United States Code with respect to avoiding certain liens that impair exempt property.

IN THE HOUSE OF REPRESENTATIVES

January 5, 1993

Mr. SARPALIUS introduced the following bill; which was referred to the Committee on the Judiciary

A BILL

To amend title 11 of the United States Code with respect to avoiding certain liens that impair exempt property.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ‘Secured Credit Availability Amendments of 1993’.

SEC. 2. AMENDMENTS.

    Section 522 of title 11, United States Code, is amended--

      (1) in subsection (f) by inserting ‘and except as provided in subsection (n)’ after ‘exemptions’, and

      (2) by adding at the end the following:

    ‘(n) The debtor may not avoid the fixing of a lien on an interest of the debtor in property to the extent that such lien impairs an exemption to which the debtor would have been entitled under subsection (b)(2), if--

      ‘(A) such lien is a nonpossessory, nonpurchase-money security interest in any tools of the trade, implements, animals, or crops; and

      ‘(B) the State law referred to in such subsection prohibits the debtor from avoiding the fixing of such lien to such extent.’.

SEC. 3. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.

    (a) EFFECTIVE DATE- Except as provided in subsection (b), the amendments made by section 2 shall take effect on the date of the enactment of this Act.

    (b) APPLICATION OF AMENDMENTS- The amendments made by section 2 shall not apply with respect to cases commenced under title 11 of the United States Code before the date of the enactment of this Act.