H.L.C.
filing of the petition, or in relation to a proceeding
falsely asserted to be pending under such title,
shall be fined under this title, imprisoned not more than
5 years, or both.’’.
(2) TECHNICAL
AMENDMENTS.—The chapter
analysis for chapter 9 of title 18, United States Code,
is amended—
(A) by amending the item relating to sec-
tion 153 to read as follows:
‘‘Sec. 153. Embezzlement against estate.’’;
and
(B) by adding at the end the following new
items:
‘‘Sec. 156. Knowing disregard of bankruptcy law or rule.
‘‘Sec. 157. Bankruptcy fraud.’’.
(b) RICO.—Section 1961(1)(D) of title 18, United
States Code, is amended by inserting ‘‘(except a case under
section 157 of that title)’’ after ‘‘title 11’’.
SEC. 313. PROTECTION AGAINST DISCRIMINATORY TREAT-
MENT 
OF 
APPLICATIONS 
FOR 
STUDENT
LOANS.
Section 525 of title 11, United States Code, is amended
by adding at the end the following:
‘‘(c)(1) A governmental unit that operates a student
grant or loan program and a person engaged in a business
that includes the making of loans guaranteed or insured
H.L.C.
under a student loan program may not deny a grant, loan,
loan guarantee, or loan insurance to a person that is or
has been a debtor under this title or a bankrupt or debtor
under the Bankruptcy Act, or another person with whom
the debtor or bankrupt has been associated, because the debt-
or or bankrupt is or has been a debtor under this title or
a bankrupt or debtor under the Bankruptcy Act, has been
insolvent before the commencement of a case under this title
or during the pendency of the case but before the debtor is
granted or denied a discharge, or has not paid a debt that
is dischargeable in the case under this title or that was dis-
charged under the Bankruptcy Act.
‘‘(2) In this section, ‘student loan program’ means the
program operated under part B, D, or E of title IV of the
Higher Education Act of 1965 or a similar program oper-
ated under State or local law.’’.
TITLE IV—GOVERNMENTAL
BANKRUPTCY ISSUES
SEC. 401. EXCEPTION FROM AUTOMATIC STAY FOR POST-
PETITION PROPERTY TAXES.
Section 362(b) of title 11, United States Code, is
amended by inserting after paragraph (16) the following:
‘‘(18) under subsection (a) of the creation or per-
fection of a statutory lien for an ad valorem property
tax imposed by the District of Columbia, or a politi-
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cal subdivision of a State, if such tax comes due after
the filing of the petition.’’.
SEC. 402. MUNICIPAL BANKRUPTCY.
Section 109(c)(2) of title 11, United States Code, is
amended by striking ‘‘generally authorized’’ and inserting
‘‘specifically authorized, in its capacity as a municipality
or by name,’’.
TITLE V—TECHNICAL
CORRECTIONS
SEC. 501. AMENDMENTS TO BANKRUPTCY DEFINITIONS, NE-
CESSITATED BY ENACTMENT OF PUBLIC LAW
101–647.
(a) ALPHABETIZING
AND REDESIGNATING DEFINI-
TIONS.—Section 101 of title 11 of the United States Code,
as amended by sections 208, 217, 218, and 304, is amend-
ed—
(1) by redesignating paragraph (3) as para-
graph (21B) and transferring such paragraph so as
to insert it after paragraph (21A),
(2) by redesignating paragraph (39) as para-
graph (51A) and transferring such paragraph so as
to insert it after paragraph (51),
(3) by redesignating paragraphs (54) through
(57), as so redesignated by section 2522(e) of Public
H.L.C.
Law 101–647, as paragraphs (53A) through (53D),
respectively,
(4) by redesignating paragraph (56) as in effect
immediately before the enactment of Public Law 101–
647, as paragraph (35A) and transferring such para-
graph so as to insert it after paragraph (35), and
(5) by redesignating paragraph (57), as in effect
immediately before the enactment of Public Law 101–
647, as paragraph (39) and transferring such para-
graph so as to insert it after paragraph (38).
(b) CONFORMING
AND RELATED AMENDMENTS
TO
TITLE 11 OF THE UNITED STATES CODE, BASED ON RE-
DESIGNATED DEFINITIONS.—(1) Section 101 of title 11 of
the United States Code, as amended by subsection (a), is
amended—
(A) in paragraph (6) by striking ‘‘section
761(9)’’ and inserting ‘‘section 761’’,
(B) in paragraph (22) by striking ‘‘section
741(7)’’ and inserting ‘‘section 741’’,
(C) in paragraph (35)(B) by striking ‘‘para-
graphs (3)’’ and inserting ‘‘paragraphs (21B)’’,
(D) in paragraph (49)(B)(ii) by striking ‘‘sec-
tion 761(13)’’ and inserting ‘‘section 761’’, and
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(E) in paragraph (53A)(A), as so redesignated,
by striking ‘‘section 741(2)’’ and inserting ‘‘section
741’’.
(2) Section 362(b) of title 11, United States Code, is
amended—
(A) in paragraph (6)—
(i) by striking ‘‘section 761(4)’’ and insert-
ing ‘‘section 761’’,
(ii) by striking ‘‘section 741(7)’’ and insert-
ing ‘‘section 741’’,
(iii) by striking ‘‘section 101(34), 741(5), or
761(15)’’ and inserting ‘‘section 101, 741, or
761’’, and
(iv) by striking ‘‘section 101(35) or 741(8)’’
and inserting ‘‘section 101 or 741’’, and
(B) in paragraph (7)—
(i) by striking ‘‘section 741(5) or 761(15)’’
and inserting ‘‘section 741 or 761’’, and
(ii) by striking ‘‘section 741(8)’’ and insert-
ing ‘‘section 741’’.
(3) Section 507(a)(5) of title 11, United States Code,
is amended—
(A) by striking ‘‘section 557(b)(1)’’ and inserting
‘‘section 557(b)’’, and
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(B) by striking ‘‘section 557(b)(2)’’ and inserting
‘‘section 557(b)’’.
(4) Section 546 of title 11, United States Code, is
amended—
(A) in subsection (e)—
(i) by striking ‘‘section 101(34), 741(5), or
761(15)’’ and inserting ‘‘section 101, 741, or
761’’, and
(ii) by striking ‘‘section 101(35) or 741(8)’’
and inserting ‘‘section 101 or 741’’, and
(B) in subsection (f)—
(i) by striking ‘‘section 741(5) or 761(15)’’
and inserting ‘‘section 741 or 761’’, and
(ii) by striking ‘‘section 741(8)’’ and insert-
ing ‘‘section 741’’.
(5) Section 548(d)(2) of title 11, United States Code,
is amended—
(A) in subparagraph (B)—
(i) by striking ‘‘section 101(34), 741(5) or
761(15)’’ and inserting ‘‘section 101, 741, or
761’’, and
(ii) by striking ‘‘section 101(35) or 741(8)’’
and inserting ‘‘section 101 or 741’’, and
(B) in subparagraph (C)—
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(i) by striking ‘‘section 741(5) or 761(15)’’
and inserting ‘‘section 741 or 761’’, and
(ii) by striking ‘‘section 741(8)’’ and insert-
ing ‘‘section 741’’.
(6) Section 555 of title 11, United States Code, is
amended by striking ‘‘section 741(7)’’ and inserting ‘‘sec-
tion 741 of this title’’.
(7) Section 556 of title 11, United States Code, is
amended by striking ‘‘section 761(4)’’ and inserting ‘‘sec-
tion 761 of this title’’.
(c) CONFORMING AMENDMENTS
TO OTHER LAWS
BASED
ON
REDESIGNATED
DEFINITIONS.—(1) Section
207(c)(8)(D) of the Federal Credit Union Act (12 U.S.C.
1787(c)(8)(D)) is amended—
(A) in clause (ii)(I) by striking ‘‘section 741(7)’’
and inserting ‘‘section 741’’,
(B) in clause (iii) by striking ‘‘section 101(24)’’
and inserting ‘‘section 101’’,
(C) in clause (iv)(I) by striking ‘‘section
101(41)’’ and inserting ‘‘section 101’’, and
(D) in clause (v) by striking ‘‘section 101(50)’’
and inserting ‘‘section 101’’.
(2) Section 11(e)(8)(D) of the Federal Deposit Insur-
ance Act (12 U.S.C. 1821(e)(8)(D)) is amended—
H.L.C.
(A) in clause (ii)(I) by striking ‘‘section 741(7)’’
and inserting ‘‘section 741’’,
(B) in clause (iii) by striking ‘‘section 761(4)’’
and inserting ‘‘section 761’’,
(C) in clause (iv) by striking ‘‘section 101(24)’’
and inserting ‘‘section 101’’,
(D) in clause (v)(I) by striking ‘‘section
101(41)’’ and inserting ‘‘section 101’’, and
(E) in clause (viii) by striking ‘‘section 101(50)’’
and inserting ‘‘section 101’’.
(d) OTHER TECHNICAL AMENDMENTS.—Title 11 of the
United States Code is amended—
(1) in section 101—
(A) in paragraph (33)—
(i) in subparagraph (A) by striking
‘‘(12 U.S.C. 1813(u))’’, and
(ii) in subparagraph (B) by striking
‘‘(12 U.S.C. 1786(r))’’,
(B) in paragraph (34) by striking ‘‘(12
U.S.C. 1752(7))’’,
(C) in paragraph (35)(A) by striking ‘‘(12
U.S.C. 1813(c)(2))’’,
(D) in paragraph (48)—
(i) by striking ‘‘(15 U.S.C. 78q-1)’’,
and
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(ii) by striking ‘‘(15 U.S.C. 78c(12))’’,
(E) in paragraph (49)—
(i) in subparagraph (A)(xii)—
(I) by striking ‘‘(15 U.S.C. 77a et
seq.)’’, and
(II) by striking ‘‘(15 U.S.C.
77c(b))’’, and
(ii) in subparagraph (B)(vi) by strik-
ing ‘‘(15 U.S.C. 77c(b))’’, and
(F) in paragraph (53D), as so redesignated
by subsection (a), by striking the period at the
end and inserting a semicolon,
(2) in section 109(b)(2) by striking ‘‘(12 U.S.C.
1813(h))’’,
(3) in section 322(a) by striking ‘‘1302, or 1202’’
and inserting ‘‘1202, or 1302’’,
(4) in section 346—
(A) in subsection (a) by striking ‘‘Internal
Revenue Code of 1954 (26 U.S.C. 1 et seq.)’’ and
inserting ‘‘Internal Revenue Code of 1986’’, and
(B) in subsection (g)(1)(C) by striking ‘‘In-
ternal Revenue Code of 1954 (26 U.S.C. 371)’’
and inserting ‘‘Internal Revenue Code of 1986’’,
(5) in section 348—
H.L.C.
(A) in subsection (b) by striking ‘‘1301(a),
1305(a), 1201(a), 1221, and 1228(a)’’ and in-
serting ‘‘1201(a), 1221, 1228(a), 1301(a), and
1305(a)’’, and
(B) in subsections (b), (c), (d), and (e) by
striking ‘‘1307, or 1208’’ each place it appears
and inserting ‘‘1208, or 1307’’,
(6) in section 349(a) by striking ‘‘109(f)’’ and
inserting ‘‘109(g)’’,
(7) in section 362—
(A) in subsection (a) by striking ‘‘(15
U.S.C. 78eee(a)(3))’’, and
(B) in subsection (b)—
(i) 
by 
striking 
‘‘(15 
U.S.C.
78eee(a)(3))’’,
(ii) in paragraph (10) by striking ‘‘or’’
at the end,
(iii) in paragraph (12)—
(I) by striking ‘‘the Ship Mort-
gage Act, 1920 (46 App. U.S.C. 911 et
seq.)’’ and inserting ‘‘section 31325 of
title 46’’, and
(II) by striking ‘‘(46 App. U.S.C.
1117 and 1271 et seq., respectively)’’,
(iv) in paragraph (13)—
H.L.C.
(I) by striking ‘‘the Ship Mort-
gage Act, 1920 (46 App. U.S.C. 911 et
seq.)’’ each place it appears and insert-
ing ‘‘section 31325 of title 46’’,
(II) by striking ‘‘(46 App. U.S.C.
1117 and 1271 et seq., respectively)’’,
and
(III) by striking ‘‘or’’ at the end,
(v) in paragraph (15), as added by
Public Law 101–508, by striking ‘‘or’’ at
the end,
(vi) in paragraph (16), as added by
Public Law 101–508—
(I) by striking ‘‘(20 U.S.C. 1001
et seq.)’’, and
(II) by striking the period at the
end and inserting a semicolon, and
(vii) in paragraph (14), as added by
Public Law 101–311—
(I) by striking the period at the
end and inserting ‘‘; or’’,
(II) by redesignating such para-
graph as paragraph (17), and
100
H.L.C.
(III) by transferring such para-
graph so as to insert such paragraph
after paragraph (16),
(8) in section 363—
(A) in subsection (b)(2) by striking ‘‘(15
U.S.C. 18a)’’, and
(B) in subsection (c)(1) by striking ‘‘1304,
1203, or 1204’’ and inserting ‘‘1203, 1204, or
1304’’,
(9) in section 364—
(A) in subsection (a) by striking ‘‘1304,
1203, or 1204’’ and inserting ‘‘1203, 1204, or
1304’’, and
(B) in subsection (f)—
(i) by striking ‘‘(15 U.S.C. 77e)’’, and
(ii) by striking ‘‘(15 U.S.C. 77aaa et
seq.)’’,
(10) in section 365—
(A) in subsection (d)(6)(C) by striking ‘‘the
Federal Aviation Act of 1958 (49 U.S.C. 1301)’’
and inserting ‘‘section 40102 of title 49’’,
(B) in subparagraphs (A) and (B) of sub-
section (g)(2) by striking ‘‘1307, or 1208’’ each
place it appears and inserting ‘‘1208, or 1307’’,
101
H.L.C.
(C) in subsection (n)(1)(B) by striking ‘‘to
to’’ and inserting ‘‘to’’,
(D) in subsection (o) by striking ‘‘the Fed-
eral’’ the first place it appears and all that fol-
lows through ‘‘successors,’’, and inserting ‘‘a Fed-
eral depository institutions regulatory agency (or
predecessor to such agency)’’, and
(E) by striking subsection (p),
(11) in section 507, as amended by section 304—
(A) in subsection (a)(9) by striking ‘‘the
Federal’’ the first place it appears and all that
follows through ‘‘successors,’’, and inserting ‘‘a
Federal depository institutions regulatory agency
(or predecessor to such agency)’’, and
(B) in subsection (d) by striking ‘‘or (a)(6)’’
and inserting ‘‘(a)(6), (a)(7), (a)(8), or (a)(9)’’,
(12) in section 522—
(A) in subsection (b) by striking ‘‘Bank-
ruptcy Rules’’ and inserting ‘‘Federal Rules of
Bankruptcy Procedure’’, and
(B) in subsection (d)(10)(E)(iii)—
(i) by striking ‘‘408, or 409’’ the first
place it appears and inserting ‘‘or 408’’,
and
102
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(ii) by striking ‘‘Internal Revenue
Code of 1954 (26 U.S.C. 401(a), 403(a),
403(b), 408, or 409)’’ and inserting ‘‘Inter-
nal Revenue Code of 1986’’,
(13) in section 523—
(A) in subsection (a)—
(i) by striking ‘‘1141,,’’ and inserting
‘‘1141,’’, and
(ii) in paragraph (2)(C) by striking
‘‘(15 U.S.C. 1601 et seq.)’’,
(B) in subsection (b)—
(i) by striking ‘‘(20 U.S.C. 1087-3)’’,
and
(ii) by striking ‘‘(42 U.S.C. 294f)’’,
and
(C) in subsection (e) by striking ‘‘depository
institution or insured credit union’’ and insert-
ing ‘‘insured depository institution’’,
(14) in section 524—
(A) 
in 
subsection 
(a)(3) 
by 
striking
‘‘1328(c)(1)’’ and inserting ‘‘1328(a)(1)’’,
(B) 
in 
subsection 
(c)(4) 
by 
striking
‘‘recission’’ and inserting ‘‘rescission’’, and
(C) in subsection (d)(1)(B)(ii) by adding
‘‘and’’ at the end,
103
H.L.C.
(15) in section 525(a)—
(A) by striking ‘‘(7 U.S.C. 499a-499s)’’,
(B) by striking ‘‘(7 U.S.C. 181-229)’’, and
(C) by striking ‘‘(57 Stat. 422; 7 U.S.C.
204)’’,
(16) in section 542(e) by striking ‘‘to to’’ and in-
serting ‘‘to’’,
(17) in section 543(d)(1) by striking ‘‘section,’’
and inserting ‘‘section’’,
(18) in section 549(b) inserting ‘‘the trustee may
not avoid under subsection (a) of this section’’ after
‘‘involuntary case,’’,
(19) in section 553—
(A) in subsection (a)(1) by striking ‘‘other
than under section 502(b)(3) of this title’’, and
(B) 
in 
subsection 
(b)(1) 
by 
striking
‘‘362(b)(14),,’’ and inserting ‘‘362(b)(14),’’,
(20) in section 555 by striking ‘‘(15 U.S.C.
78aaa et seq.)’’,
(21) in section 559 by striking ‘‘(15 U.S.C.
78aaa et seq.)’’,
(22) in section 706(a) by striking ‘‘1307, or
1208’’ and inserting ‘‘1208, or 1307’’,
104
H.L.C.
(23) in section 724(d) by striking ‘‘Internal Rev-
enue Code of 1954 (26 U.S.C. 6323)’’ and inserting
‘‘Internal Revenue Code of 1986’’,
(24) in section 726(b)—
(A) inserting a comma after ‘‘section 1112’’,
and
(B) by inserting ‘‘1009,’’ after ‘‘chapter
under section’’,
(25) in section 741(4)(A)(iii) by striking ‘‘(15
U.S.C. 78a et seq.)’’,
(26) in section 742 by striking ‘‘(15 U.S.C.
78aaa et seq.)’’,
(27) in section 743 by striking ‘‘342(a)’’ and in-
serting ‘‘342’’,
(28) in section 745(c) by striking ‘‘Internal Rev-
enue Code of 1954 (26 U.S.C. 1 et seq.)’’ and insert-
ing ‘‘Internal Revenue Code of 1986’’,
(29) in section 761—
(A) in paragraph (1) by striking ‘‘(7 U.S.C.
1 et seq.)’’,
(B) in paragraph (5) by striking ‘‘(7 U.S.C.
6c(b))’’, and
(C) in paragraph (13) by striking ‘‘(7
U.S.C. 23)’’,
105
H.L.C.
(30) in section 1104(d), as redesignated by sec-
tion 211, inserting a comma after ‘‘interest’’,
(31) in section 1123(a)(1) inserting a comma
after ‘‘title’’ the last place it appears,
(32) in section 1129—
(A) in subsection (a)—
(i) in paragraph (4) by striking the
semicolon at the end and inserting a period,
and
(ii) in paragraph (12) inserting ‘‘of
title 28’’ after ‘‘section 1930’’, and
(B) in subsection (d) by striking ‘‘(15
U.S.C. 77e)’’,
(33) in section 1145—
(A) in subsection (a)—
(i) by striking ‘‘does’’ and inserting
‘‘do’’,
(ii) by striking ‘‘(15 U.S.C. 77e)’’, and
(iii) in paragraph (3)(B)(i) by strik-
ing ‘‘(15 U.S.C. 78m or 78o(d))’’,
(B) in subsection (b)(1) by striking ‘‘(15
U.S.C. 77b(11))’’, and
(C) in subsection (d) by striking ‘‘(15
U.S.C. 77aaa et seq.)’’,
106
H.L.C.
(34) in section 1166(2) by striking ‘‘(45 U.S.C.
791(b))’’,
(35) in section 1167—
(A) by striking ‘‘(45 U.S.C. 151 et seq.)’’,
and
(B) by striking ‘‘(45 U.S.C. 156)’’,
(36) in section 1226(b)(2)—
(A) by striking ‘‘1202(d)’’ and inserting
‘‘1202(c)’’, and
(B) by striking ‘‘1202(e)’’ and inserting
‘‘1202(d)’’,
(37) in section 1302(b)(3) by striking ‘‘and’’ at
the end, and
(38) in section 1328(a)—
(A) in paragraph (2) by striking ‘‘(5) or
(8)’’ and inserting ‘‘(5), (8), or (9)’’, and
(B) by striking the last paragraph (3), and
(39) in the table of chapters by striking the item
relating to chapter 15.
SEC. 502. TITLE 28 OF THE UNITED STATES CODE.
Section 586(a)(3) of title 28, United States Code, is
amended in the matter preceding subparagraph (A) by in-
serting ‘‘12,’’ after ‘‘11,’’.
107
H.L.C.
TITLE VI—BANKRUPTCY REVIEW
COMMISSION
SEC. 601. SHORT TITLE.
This title may be cited as the ‘‘National Bankruptcy
Review Commission Act’’.
SEC. 602. ESTABLISHMENT.
There is established the National Bankruptcy Review
Commission (referred to as the ‘‘Commission’’).
SEC. 603. DUTIES OF THE COMMISSION.
The duties of the Commission are—
(1) to investigate and study issues and problems
relating to title 11, United States Code (commonly
known as the ‘‘Bankruptcy Code’’);
(2) to evaluate the advisability of proposals and
current arrangements with respect to such issues and
problems;
(3) to prepare and submit to the Congress, the
Chief Justice, and the President a report in accord-
ance with section 608; and
(4) to solicit divergent views of all parties con-
cerned with the operation of the bankruptcy system.
SEC. 604. MEMBERSHIP.
(a) NUMBER AND APPOINTMENT.—The Commission
shall be composed of 9 members as follows:
108
H.L.C.
(1) Three members appointed by the President, 1
of whom shall be designated as chairman by the
President.
(2) One member shall be appointed by the Presi-
dent pro tempore of the Senate.
(3) One member shall be appointed by the Mi-
nority Leader of the Senate.
(4) One member shall be appointed by the
Speaker of the House of Representatives.
(5) One member shall be appointed by the Mi-
nority Leader of the House of Representatives.
(6) Two members appointed by the Chief Justice.
Members of Congress, and officers and employees of the exec-
utive branch, shall be ineligible for appointment to the
Commission.
(b) TERM.—Members of the Commission shall be ap-
pointed for the life of the Commission.
(c) QUORUM.—Five members of the Commission shall
constitute a quorum, but a lesser number may conduct
meetings.
(d) APPOINTMENT DEADLINE.—The first appoint-
ments made under subsection (a) shall be made within 60
days after the date of enactment of this Act.
109
H.L.C.
(e) FIRST MEETING.—The first meeting of the Com-
mission shall be called by the chairman and shall be held
within 210 days after the date of enactment of this Act.
(f) VACANCY.—A vacancy on the Commission resulting
from the death or resignation of a member shall not affect
its powers and shall be filled in the same manner in which
the original appointment was made.
(g) CONTINUATION OF MEMBERSHIP.—If any member
of the Commission who was appointed to the Commission
as an officer or employee of a government leaves that office,
or if any member of the Commission who was not appointed
in such a capacity becomes an officer or employee of a gov-
ernment, the member may continue as a member of the
Commission for not longer than the 90-day period begin-
ning on the date the member leaves that office or becomes
such an officer or employee, as the case may be.
(h) CONSULTATION PRIOR TO APPOINTMENT.—Prior
to the appointment of members of the Commission, the
President, the President pro tempore of the Senate, the
Speaker of the House of Representatives, and the Chief Jus-
tice shall consult with each other to ensure fair and equi-
table representation of various points of view in the Com-
mission and its staff.
SEC. 605. COMPENSATION OF THE COMMISSION.
(a) PAY.—