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H.R. 1674 (114th): Private Student Loan Bankruptcy Fairness Act of 2015

The text of the bill below is as of Mar 26, 2015 (Introduced).


I

114th CONGRESS

1st Session

H. R. 1674

IN THE HOUSE OF REPRESENTATIVES

March 26, 2015

(for himself, Mr. Danny K. Davis of Illinois, and Mr. Swalwell of California) introduced the following bill; which was referred to the Committee on the Judiciary

A BILL

To amend title 11 of the United States Code to modify the dischargeability of debts for certain educational payments and loans.

1.

Short title

This Act may be cited as the Private Student Loan Bankruptcy Fairness Act of 2015.

2.

Exceptions to discharge

Section 523(a)(8) of title 11, United States Code, is amended—

(1)

by striking subparagraph (B), and

(2)

in subparagraph (A)—

(A)

in clause (i)—

(i)

by striking (i), and

(ii)

by inserting any program for which substantially all of the funds are provided by a after unit or, and

(B)

in clause (ii)—

(i)

by striking (ii) and inserting (B), and

(ii)

by striking or at the end.

3.

Effective date; application of amendments

(a)

Effective date

Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act.

(b)

Application of amendments

The amendments made by this Act shall apply only with respect to cases commenced under title 11 of the United States Code on or after the date of the enactment of this Act.