‘‘(v) fixes the scope and format of the
notice to be provided regarding the hearing
on approval of the disclosure statement; or
‘‘(vi) provides that the hearing on ap-
proval of the disclosure statement may be
combined with the hearing on confirmation
of the plan.’’.
(b) ABSTENTION.—Section 1334 of title 28, United
States Code, is amended—
(1) by redesignating subsection (d) as sub-
section (e), and
(2) in the second sentence of subsection
(c)(2)—
(A) by inserting ‘‘(other than a decision
not to abstain in a proceeding described in sub-
section (c)(2))’’ after ‘‘subsection’’, and
(B) by striking ‘‘Any’’ and inserting the
following:
‘‘(d) Any’’.
(c) ESTABLISHMENT, OPERATION, 
AND
TERMI-
NATION OF BANKRUPTCY APPELLATE PANEL SERVICE.—
Section 158(b) of title 28, United States Code, is amend-
ed—
(1) by striking paragraphs (3) and (4),
(2) by redesignating paragraph (2) as para-
graph (4),
(3) by striking paragraph (1) and inserting the
following:
‘‘(1) The judicial council of a circuit shall establish
a bankruptcy appellate panel service composed of bank-
ruptcy judges of the districts in the circuit who are ap-
pointed by the judicial council in accordance with para-
graph (3), to hear and determine, with the consent of all
the parties, appeals under subsection (a) unless the judi-
cial council finds that—
‘‘(A) there are insufficient judicial resources
available in the circuit; or
‘‘(B) establishment of such service would result
in undue delay or increased cost to parties in cases
under title 11.
Not later than 90 days after making the finding, the judi-
cial council shall submit to the Judicial Conference of the
United States a report containing the factual basis of such
finding.
‘‘(2)(A) A judicial council may reconsider, at any
time, the finding described in paragraph (1).
‘‘(B) On the request of a majority of the district
judges in a circuit for which a bankruptcy appellate panel
service is established under paragraph (1), made after the
expiration of the 1-year period beginning on the date such
service is established, the judicial council of the circuit
shall determine whether a circumstance specified in sub-
paragraph (A) or (B) of such paragraph exists.
‘‘(C) On its own motion, after the expiration of the
3-year period beginning on the date a bankruptcy appel-
late panel service is established under paragraph (1), the
judicial council of the circuit may determine whether a cir-
cumstance specified in subparagraph (A) or (B) of such
paragraph exists.
‘‘(D) If the judicial council finds that either of such
circumstances exists, the judicial council may provide for
the completion of the appeals then pending before such
service and the orderly termination of such service.
‘‘(3) Bankruptcy judges appointed under paragraph
(1) shall be appointed and may be reappointed under such
paragraph.’’, and
(4) by inserting after paragraph (4), as so re-
designated, the following:
‘‘(5) An appeal to be heard under this subsection
shall be heard by a panel of 3 members of the bankruptcy
appellate panel service, except that a member of such serv-
ice may not hear an appeal originating in the district for
which such member is appointed or designated under sec-
tion 152 of this title.
‘‘(6) Appeals may not be heard under this subsection
by a panel of the bankruptcy appellate panel service unless
the district judges for the district in which the appeals
occur, by majority vote, have authorized such service to
hear and determine appeals originating in such district.’’.
(d) APPEALS TO BE HEARD BY BANKRUPTCY AP-
PELLATE PANEL SERVICE.—Section 158 of title 28, Unit-
ed States Code, is amended—
(1) in subsection (c) by striking ‘‘(c)’’ and in-
serting ‘‘(2)’’, and
(2) by inserting after subsection (b) the follow-
ing:
‘‘(c)(1) Subject to subsection (b), each appeal under
subsection (a) shall be heard by a 3-judge panel of the
bankruptcy appellate panel service established under sub-
section (b)(1) unless—
‘‘(A) the appellant elects at the time of filing
the appeal; or
‘‘(B) any other party elects, not later than 30
days after service of notice of the appeal;
to have such appeal heard by the district court.’’.
(e) RULES OF PROCEDURE AND EVIDENCE; METHOD
OF PRESCRIBING.—Section 2073 of title 28, United
States Code, is amended—
(1) in subsection (a)(2) by striking ‘‘section
2072’’ and inserting ‘‘sections 2072 and 2075’’, and
(2) in subsections (d) and (e) by inserting ‘‘or
2075’’ after ‘‘2072’’ each place it appears.
(f) EFFECTIVE DATE OF BANKRUPTCY RULES.—The
third undesignated paragraph of section 2075 of title 28,
United States Code, is amended to read as follows:
‘‘The Supreme Court shall transmit to Congress not
later than May 1 of the year in which a rule prescribed
under this section is to become effective a copy of the pro-
posed rule. The rule shall take effect no earlier than De-
cember 1 of the year in which it is transmitted to Congress
unless otherwise provided by law.’’.
SEC. 
105. 
PARTICIPATION 
BY 
BANKRUPTCY 
ADMINIS-
TRATOR AT MEETINGS OF CREDITORS AND
EQUITY SECURITY HOLDERS.
(a) PRESIDING OFFICER.—A bankruptcy adminis-
trator appointed under section 302(d)(3)(I) of the Bank-
ruptcy Judges, United States Trustees, and Family Farm-
er Bankruptcy Act of 1986 (28 U.S.C. 581 note; Public
Law 99–554; 100 Stat. 3123), as amended by section
317(a) of the Federal Courts Study Committee Implemen-
tation Act of 1990 (Public Law 101–650; 104 Stat. 5115),
or the bankruptcy administrator’s designee may preside
at the meeting of creditors convened under section 341(a)
of title 11, United States Code. The bankruptcy adminis-
trator or the bankruptcy administrator’s designee may
preside at any meeting of equity security holders convened
under section 341(b) of title 11, United States Code.
(b) EXAMINATION
OF
THE DEBTOR.—The bank-
ruptcy administrator or the bankruptcy administrator’s
designee may examine the debtor at the meeting of credi-
tors and may administer the oath required under section
343 of title 11, United States Code.
SEC. 106. DEFINITION RELATING TO ELIGIBILITY TO SERVE
ON CHAPTER 11 COMMITTEES.
Section 101(41) of title 11, United States Code, is
amended to read as follows:
‘‘(41) ‘person’ includes individual, partnership,
and corporation, but does not include governmental
unit, except that a governmental unit that—
‘‘(A) acquires an asset from a person—
‘‘(i) as a result of the operation of a
loan guarantee agreement; or
‘‘(ii) as receiver or liquidating agent
of a person;
‘‘(B) is a guarantor of a pension benefit
payable by or on behalf of the debtor or an af-
filiate of the debtor; or
‘‘(C) is the legal or beneficial owner of an
asset of—
‘‘(i) an employee pension benefit plan
that is a governmental plan, as defined in
section 414(d) of the Internal Revenue
Code of 1986; or
‘‘(ii) an eligible deferred compensation
plan, as defined in section 457(b) of the
Internal Revenue Code of 1986;
shall be considered, for purposes of section 1102 of
this title, to be a person with respect to such asset
or such benefit;’’.
SEC. 107. INCREASED INCENTIVE COMPENSATION FOR
TRUSTEES.
Section 326(a) of title 11, United States Code, is
amended by striking ‘‘fifteen’’ and all that follows through
‘‘$3,000’’ the last place it appears, and inserting the fol-
lowing:
‘‘25 percent on the first $5,000 or less, 10 percent on any
amount in excess of $5,000 but not in excess of $50,000,
5 percent on any amount in excess of $50,000 but not
in excess of $1,000,000, and reasonable compensation not
to exceed 3 percent of such moneys in excess of
$1,000,000’’.
SEC. 108. DOLLAR ADJUSTMENTS.
(a) WHO MAY BE A DEBTOR UNDER CHAPTER 13.—
Section 109(e) of title 11, United States Code,
is amended—
(1) by striking ‘‘$100,000’’ each place it ap-
pears and inserting ‘‘$250,000’’, and
(2) by striking ‘‘$350,000’’ each place it ap-
pears and inserting ‘‘$750,000’’.
(b) INVOLUNTARY CASES.—Section 303(b) of title
11, United States Code, is amended—
(1) in paragraph (1) by striking ‘‘$5,000’’ and
inserting ‘‘$10,000’’, and
(2) in paragraph (2) by striking ‘‘$5,000’’ and
inserting ‘‘$10,000’’.
(c) PRIORITIES.—Section 507(a) of title 11, United
States Code, is amended—
(1) in paragraph (4)(B)(i) by striking ‘‘$2,000’’
and inserting ‘‘$4,000’’,
(2) in paragraph (5) by striking ‘‘$2,000’’ and
inserting ‘‘$4,000’’, and
(3) in paragraph (6) by striking ‘‘$900’’ and in-
serting ‘‘$1,800’’.
(d) EXEMPTIONS.—Section 522(d) of title 11, United
States Code, is amended—
(1) in paragraph (1) by striking ‘‘$7,500’’ and
inserting ‘‘$15,000’’,
(2) in paragraph (2) by striking ‘‘$1,200’’ and
inserting ‘‘$2,400’’,
(3) in paragraph (3)—
(A) by striking ‘‘$200’’ and inserting
‘‘$400’’, and
(B) by striking ‘‘$4,000’’ and inserting
‘‘$8,000’’,
(4) in paragraph (4) by striking ‘‘$500’’ and in-
serting ‘‘$1,000’’,
(5) in paragraph (5)—
(A) by striking ‘‘$400’’ and inserting
‘‘$800’’, and
(B) by striking ‘‘$3,750’’ and inserting
‘‘$7,500’’,
(6) in paragraph (6) by striking ‘‘$750’’ and in-
serting ‘‘$1,500’’,
(7) in paragraph (8) by striking ‘‘$4,000’’ and
inserting ‘‘$8,000’’, and
(8) in paragraph (11)(D) by striking ‘‘$7,500’’
and inserting ‘‘$15,000’’.
(e) FUTURE ADJUSTMENTS.—Section 104 of title 11,
United States Code, is amended—
(1) by inserting ‘‘(a)’’ before ‘‘The’’, and
(2) by adding at the end the following:
‘‘(b)(1) On April 1, 1998, and at each 3-year interval
ending on April 1 thereafter, each dollar amount in effect
under sections 109(e), 303(b), 507(a), 522(d), and
523(a)(2)(C) immediately before such April 1 shall be ad-
justed—
‘‘(A) to reflect the change in the Consumer
Price Index for All Urban Consumers, published by
the Department of Labor, for the most recent 3-year
period ending immediately before January 1 preced-
ing such April 1, and
‘‘(B) to round to the nearest $25 the dollar
amount that represents such change.
‘‘(2) Not later than March 1, 1998, and at each 3-
year interval ending on March 1 thereafter, the Judicial
Conference of the United States shall publish in the Fed-
eral Register the dollar amounts that will become effective
on such April 1 under sections 109(e), 303(b), 507(a),
522(d), and 523(a)(2)(C) of this title.
‘‘(3) Adjustments made in accordance with para-
graph (1) shall not apply with respect to cases commenced
before the date of such adjustments.’’.
SEC. 109. PREMERGER NOTIFICATION.
Subparagraphs (A) and (B) of section 363(b)(2) of
title 11, United States Code, are amended to read as fol-
lows:
‘‘(A) notwithstanding subsection (a) of
such section, the notification required by such
subsection to be given by the debtor shall be
given by the trustee; and
‘‘(B) notwithstanding subsection (b) of
such section, the required waiting period shall
end on the 15th day after the date of the re-
ceipt, by the Federal Trade Commission and
the Assistant Attorney General in charge of the
Antitrust Division of the Department of Jus-
tice, of the notification required under such
subsection (a), unless such waiting period is ex-
tended—
‘‘(i) pursuant to subsection (e)(2) of
such section, in the same manner as such
subsection (e)(2) applies to a cash tender
offer;
‘‘(ii) pursuant to subsection (g)(2) of
such section; or
‘‘(iii) by the court after notice and a
hearing.’’.
SEC. 110. ALLOWANCE OF CREDITOR COMMITTEE EX-
PENSES.
Section 503(b)(3) of title 11, United States Code, is
amended—
(1) in subparagraph (D) by striking ‘‘or’’ at the
end,
(2) in subparagraph (E) by inserting ‘‘or’’ at
the end, and
(3) by adding at the end the following:
‘‘(F) a member of a committee appointed
under section 1102 of this title, if such ex-
penses are incurred in the performance of the
duties of such committee;’’.
SEC. 111. SUPPLEMENTAL INJUNCTIONS.
(a) SUPPLEMENTAL INJUNCTIONS.—Section 524 of
title 11, United States Code, is amended by adding at the
end the following:
‘‘(g)(1)(A) After notice and hearing, a court that en-
ters an order confirming a plan of reorganization under
chapter 11 may issue, in connection with such order, an
injunction in accordance with this subsection to supple-
ment the injunctive effect of a discharge under this sec-
tion.
‘‘(B) An injunction may be issued under subpara-
graph (A) to enjoin entities from taking legal action for
the purpose of directly or indirectly collecting, recovering,
or receiving payment or recovery with respect to any claim
or demand that, under a plan of reorganization, is to be
paid in whole or in part by a trust described in paragraph