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‘‘(1) all property of the kind specified in section 
541 that the debtor acquires after the commence-
ment of the case but before the case is closed, dis-
missed, or converted to a case under chapter 7, 12, 
or 13, whichever occurs first; and 
‘‘(2) earnings from services performed by the 
debtor after the commencement of the case but be-
fore the case is closed, dismissed, or converted to a 
case under chapter 7, 12, or 13, whichever occurs 
first. 
‘‘(b) Except as provided in section 1104 or a con-
firmed plan or order confirming a plan, the debtor shall 
remain in possession of all property of the estate.’’. 
(2) CLERICAL AMENDMENT.—The table of sec-
tions for subchapter I of chapter 11 of title 11, 
United States Code, is amended by adding at the 
end the following:
‘‘1115. Property of the estate.’’.
(b) CONTENTS OF PLAN.—Section 1123(a) of title 
11, United States Code, is amended—
(1) in paragraph (6), by striking ‘‘and’’ at the 
end; 
(2) in paragraph (7), by striking the period and 
inserting ‘‘; and’’; and 
(3) by adding at the end the following:
185
‘‘(8) in a case in which the debtor is an indi-
vidual, provide for the payment to creditors under 
the plan of all or such portion of earnings from per-
sonal services performed by the debtor after the 
commencement of the case or other future income of 
the debtor as is necessary for the execution of the 
plan.’’. 
(c) CONFIRMATION OF PLAN.—
(1) REQUIREMENTS RELATING TO VALUE OF 
PROPERTY.—Section 1129(a) of title 11, United 
States Code, as amended by section 213, is amended 
by adding at the end the following: 
‘‘(15) In a case in which the debtor is an indi-
vidual and in which the holder of an allowed unse-
cured claim objects to the confirmation of the plan—
‘‘(A) the value, as of the effective date of 
the plan, of the property to be distributed 
under the plan on account of such claim is not 
less than the amount of such claim; or 
‘‘(B) the value of the property to be dis-
tributed under the plan is not less than the pro-
jected disposable income of the debtor (as de-
fined in section 1325(b)(2)) to be received dur-
ing the 5-year period beginning on the date that 
the first payment is due under the plan, or dur-
186
ing the period for which the plan provides pay-
ments, whichever is longer.’’. 
(2) REQUIREMENT RELATING TO INTERESTS IN 
PROPERTY.—Section 1129(b)(2)(B)(ii) of title 11, 
United States Code, is amended by inserting before 
the period at the end the following: ‘‘, except that 
in a case in which the debtor is an individual, the 
debtor may retain property included in the estate 
under section 1115, subject to the requirements of 
subsection (a)(14) of this section’’. 
(d) EFFECT OF CONFIRMATION.—Section 1141(d) of 
title 11, United States Code, is amended—
(1) in paragraph (2), by striking ‘‘The con-
firmation of a plan does not discharge an individual 
debtor’’ and inserting ‘‘A discharge under this chap-
ter does not discharge a debtor who is an indi-
vidual’’; and 
(2) by adding at the end the following: 
‘‘(5) In a case in which the debtor is an individual—
‘‘(A) unless after notice and a hearing the court 
orders otherwise for cause, confirmation of the plan 
does not discharge any debt provided for in the plan 
until the court grants a discharge on completion of 
all payments under the plan;
187
‘‘(B) at any time after the confirmation of the 
plan, and after notice and a hearing, the court may 
grant a discharge to the debtor who has not com-
pleted payments under the plan if— 
‘‘(i) the value, as of the effective date of 
the plan, of property actually distributed under 
the plan on account of each allowed unsecured 
claim is not less than the amount that would 
have been paid on such claim if the estate of 
the debtor had been liquidated under chapter 7 
on such date; and 
‘‘(ii) modification of the plan under section 
1127 is not practicable; and’’. 
(e) MODIFICATION OF PLAN.—Section 1127 of title 
11, United States Code, is amended by adding at the end 
the following: 
‘‘(e) If the debtor is an individual, the plan may be 
modified at any time after confirmation of the plan but 
before the completion of payments under the plan, whether 
or not the plan has been substantially consummated, upon 
request of the debtor, the trustee, the United States trust-
ee, or the holder of an allowed unsecured claim, to—
‘‘(1) increase or reduce the amount of payments 
on claims of a particular class provided for by the 
plan;
188
‘‘(2) extend or reduce the time period for such 
payments; or 
‘‘(3) alter the amount of the distribution to a 
creditor whose claim is provided for by the plan to 
the extent necessary to take account of any payment 
of such claim made other than under the plan. 
‘‘(f)(1) Sections 1121 through 1128 and the require-
ments of section 1129 apply to any modification under 
subsection (a). 
‘‘(2) The plan, as modified, shall become the plan 
only after there has been disclosure under section 1125 
as the court may direct, notice and a hearing, and such 
modification is approved.’’. 
SEC. 322. LIMITATIONS ON HOMESTEAD EXEMPTION. 
(a) EXEMPTIONS.—Section 522 of title 11, United 
States Code, as amended by sections 224 and 308, is 
amended by adding at the end the following: 
‘‘(p)(1) Except as provided in paragraph (2) of this 
subsection and sections 544 and 548, as a result of elect-
ing under subsection (b)(3)(A) to exempt property under 
State or local law, a debtor may not exempt any amount 
of interest that was acquired by the debtor during the 
1215-day period preceding the date of the filing of the 
petition that exceeds in the aggregate $125,000 in value 
in—