PUBLIC LAW 109–8—APR. 20, 2005
119 STAT. 95
‘‘(b) Except as provided in section 1104 or a confirmed plan or order confirming a plan, the debtor shall remain in possession of all property of the estate.’’. (2) CLERICAL AMENDMENT.—The table of sections 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: ‘‘(8) in a case in which the debtor is an individual, provide for the payment to creditors under the plan of all or such portion of earnings from personal 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 individual and in which the holder of an allowed unsecured 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 distributed under the plan is not less than the projected disposable income of the debtor (as defined in section 1325(b)(2)) to be received during the 5-year period beginning on the date that the first payment is due under the plan, or during the period for which the plan provides payments, 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 confirmation of a plan does not discharge an individual debtor’’ and inserting ‘‘A discharge under this chapter does not discharge a debtor who is an individual’’; 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;
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