Legislative Highlights Oct 1997

Sen. Grassley (R-IA), has introduced the "Investment in Education Act" (<a href="http://thomas.loc.gov/cgi-bin/query/z?c105:s1149:&quot; target="window2">S. 1149</a>), which would, among other features, amend §724(b) to exempt from subordination non-avoidable and perfected <i>ad valorem</i> property tax liens and to treat these liens as administrative expenses.

</p><p>The House Judiciary Subcommittee on Commercial Law scheduled a <b>hearing on the U.S. Trustee program</b> for October 9, with the ABI invited to testify. The rights of chapter 7 and 13 panel trustees if removed by the U.S. Trustee and post-confirmation quarterly fees in chapter 11 will be covered.

</p><p>The consumer <b>credit industry's bankruptcy reform bill</b> (H.R. 2500) was introduced on Sept. 17 by Reps. McCollum (R-FL) and Boucher (D-VA).

</p><p>The <b>NBRC Report is due October 20</b>; access to the full text will be available from the NBRC area at ABI World.

</p><p>Sen. Grassley plans to introduce <b>legislation amending §548 to permit tithing</b> in both chapter 7 and 13 cases. The NBRC rejected a similar proposal in August.

</p><p>The General Accounting Office (GAO) has issued a report on <b>non-case related travel</b> of bankruptcy judges in the 14 districts seeking new positions. It was discussed last month at a Senate hearing on judgeships.

</p><p>The EOUST's <a href="http://frwebgate2.access.gpo.gov/cgi-bin/waisgate.cgi?WAISdocID=8915873…; target="window2">final rule</a> on <b>procedures for Suspension and Removal of Panel and Standing Trustees</b> will be issued soon. The new rule incorporates some suggestions made during the comment period.

</p><p>The GAO is studying options for a <b>potential liquidation of Amtrak.</b> The government-subsidized rail service suffers from high operating costs, unprofitable lines, and declining funding from Congress.

</p>