Medical Bankruptcy Fairness Act of 2014
Latest action · Jul 21, 2014 Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 19, 2014
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Medical Bankruptcy Fairness Act of 2014 - Amends federal bankruptcy law to cite circumstances under which a medically distressed debtor may elect to exempt from the property of the estate in bankruptcy up to $250,000 of the debtor's aggregate interest in: (1) specified real or personal property that the debtor (or debtor's dependent) uses as a residence, (2) a cooperative that owns the property used as a residence by the debtor or a dependent of the debtor, or (3) a burial plot for the debtor or debtor's dependent.
Applies the same election to certain other property of a medically distressed debtor, including certain retirement funds held in a tax-exempt account.
Declares inapplicable to a medically distressed debtor: (1) certain presumptions that granting relief under Chapter 7 would constitute abuse of Chapter 7, and (2) mandatory court disapproval of a debtor's plan under chapter 13 upon objection by the trustee or the holder of an allowed unsecured claim.
Waives the credit counseling prerequisite for filing for debt relief in the case of a medically distressed debtor.
Permits a medically distressed debtor to discharge in bankruptcy debts for certain educational loans.
Requires a debtor who seeks relief as a medically distressed debtor to attest in writing, and under penalty of perjury, that debtor's medical expenses are genuine, and are not specifically incurred to bring the debtor within the meaning of "medically distressed debtor."
Cosponsors 1
Members who signed on, in the order they did. All signed on Jul 23, 2014.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-PA | Matt Cartwright | Jul 23, 2014 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Judiciary Committee | Referred Jun 19, 2014 |
| Administrative State, Regulatory Reform, and Antitrust Subcommittee | Referred Jul 21, 2014 |
Actions 3
Everything that happened, newest first.
- Jul 21, 2014Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
- Jun 19, 2014Introduced in House
- Jun 19, 2014Referred to the House Committee on the Judiciary.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the page H5558.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2471 | Medical Bankruptcy Fairness Act of 2014 | Identical bill | Jun 12, 2014 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend title 11 of the United States Code to provide bankruptcy protections for medically distressed debtors, and for other purposes.
- Short Titles as Introduced
- Medical Bankruptcy Fairness Act of 2014
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jun 19, 2014Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
