To extend for 6 additional months the period for which chapter 12 of title 11 of the United States Code is reenacted.
Summary
H.R. 2870 was a legislative proposal designed to provide continued financial protection for family farmers by extending Chapter 12 of the Federal Bankruptcy Code for an additional six months. This specific section of the law allows family farmers to reorganize their debts and keep their farms operating during periods of economic distress, rather than being forced into immediate liquidation. By extending the expiration date to April 1, 2002, the bill aimed to ensure that agricultural producers maintained access to specialized bankruptcy proceedings tailored to the unique seasonal and financial risks of farming.
AI-generated summary
Lifecycle of the Bill
No events recorded for this stage yet.