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H.R. 885: Private Student Loan Bankruptcy Fairness Act of 2019


The text of the bill below is as of Jan 30, 2019 (Introduced).


I

116th CONGRESS

1st Session

H. R. 885

IN THE HOUSE OF REPRESENTATIVES

January 30, 2019

(for himself, Mr. Courtney, Mr. Danny K. Davis of Illinois, Mr. Johnson of Georgia, Mr. McNerney, Ms. Moore, Ms. Norton, Mr. Swalwell of California, Ms. Titus, Mr. Welch, and Mr. Yarmuth) 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 2019.

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.