Page:United States Statutes at Large Volume 119.djvu/120

 119 STAT. 102

PUBLIC LAW 109–8—APR. 20, 2005

(2) in subsection (b) by striking ‘‘At’’ and inserting ‘‘Subject to subsection (d), at’’, and (3) by adding at the end the following: ‘‘(f) The court may not grant a discharge under this chapter unless the court after notice and a hearing held not more than 10 days before the date of the entry of the order granting the discharge finds that there is no reasonable cause to believe that— ‘‘(1) section 522(q)(1) may be applicable to the debtor; and ‘‘(2) there is pending any proceeding in which the debtor may be found guilty of a felony of the kind described in section 522(q)(1)(A) or liable for a debt of the kind described in section 522(q)(1)(B).’’. (d) CHAPTER 13.—Section 1328 of title 11, United States Code, as amended by section 106, is amended— (1) in subsection (a) by striking ‘‘As’’ and inserting ‘‘Subject to subsection (d), as’’, (2) in subsection (b) by striking ‘‘At’’ and inserting ‘‘Subject to subsection (d), at’’, and (3) by adding at the end the following: ‘‘(h) The court may not grant a discharge under this chapter unless the court after notice and a hearing held not more than 10 days before the date of the entry of the order granting the discharge finds that there is no reasonable cause to believe that— ‘‘(1) section 522(q)(1) may be applicable to the debtor; and ‘‘(2) there is pending any proceeding in which the debtor may be found guilty of a felony of the kind described in section 522(q)(1)(A) or liable for a debt of the kind described in section 522(q)(1)(B).’’. SEC. 331. LIMITATION ON RETENTION BONUSES, SEVERANCE PAY, AND CERTAIN OTHER PAYMENTS.

Section 503 of title 11, United States Code, is amended by adding at the end the following: ‘‘(c) Notwithstanding subsection (b), there shall neither be allowed, nor paid— ‘‘(1) a transfer made to, or an obligation incurred for the benefit of, an insider of the debtor for the purpose of inducing such person to remain with the debtor’s business, absent a finding by the court based on evidence in the record that— ‘‘(A) the transfer or obligation is essential to retention of the person because the individual has a bona fide job offer from another business at the same or greater rate of compensation; ‘‘(B) the services provided by the person are essential to the survival of the business; and ‘‘(C) either— ‘‘(i) the amount of the transfer made to, or obligation incurred for the benefit of, the person is not greater than an amount equal to 10 times the amount of the mean transfer or obligation of a similar kind given to nonmanagement employees for any purpose during the calendar year in which the transfer is made or the obligation is incurred; or ‘‘(ii) if no such similar transfers were made to, or obligations were incurred for the benefit of, such nonmanagement employees during such calendar year, the amount of the transfer or obligation is not greater

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