Page:United States Statutes at Large Volume 119.djvu/135

 PUBLIC LAW 109–8—APR. 20, 2005

119 STAT. 117

SEC. 443. STUDY OF OPERATION OF TITLE 11, UNITED STATES CODE, WITH RESPECT TO SMALL BUSINESSES.

Not later than 2 years after the date of enactment of this Act, the Administrator of the Small Business Administration, in consultation with the Attorney General, the Director of the Executive Office for United States Trustees, and the Director of the Administrative Office of the United States Courts, shall— (1) conduct a study to determine— (A) the internal and external factors that cause small businesses, especially sole proprietorships, to become debtors in cases under title 11, United States Code, and that cause certain small businesses to successfully complete cases under chapter 11 of such title; and (B) how Federal laws relating to bankruptcy may be made more effective and efficient in assisting small businesses to remain viable; and (2) submit to the President pro tempore of the Senate and the Speaker of the House of Representatives a report summarizing that study.

Reports.

SEC. 444. PAYMENT OF INTEREST.

Section 362(d)(3) of title 11, United States Code, is amended— (1) by inserting ‘‘or 30 days after the court determines that the debtor is subject to this paragraph, whichever is later’’ after ‘‘90-day period)’’; and (2) by striking subparagraph (B) and inserting the following: ‘‘(B) the debtor has commenced monthly payments that— ‘‘(i) may, in the debtor’s sole discretion, notwithstanding section 363(c)(2), be made from rents or other income generated before, on, or after the date of the commencement of the case by or from the property to each creditor whose claim is secured by such real estate (other than a claim secured by a judgment lien or by an unmatured statutory lien); and ‘‘(ii) are in an amount equal to interest at the then applicable nondefault contract rate of interest on the value of the creditor’s interest in the real estate; or’’. SEC. 445. PRIORITY FOR ADMINISTRATIVE EXPENSES.

Section 503(b) of title 11, United States Code, is amended— (1) in paragraph (5), by striking ‘‘and’’ at the end; (2) in paragraph (6), by striking the period at the end and inserting a semicolon; and (3) by adding at the end the following: ‘‘(7) with respect to a nonresidential real property lease previously assumed under section 365, and subsequently rejected, a sum equal to all monetary obligations due, excluding those arising from or relating to a failure to operate or a penalty provision, for the period of 2 years following the later of the rejection date or the date of actual turnover of the premises, without reduction or setoff for any reason whatsoever except for sums actually received or to be received from an entity other than the debtor, and the claim for remaining

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