Page:United States Statutes at Large Volume 98 Part 1.djvu/404

 98 STAT. 356

Claims.

PUBLIC LAW 98-353—JULY 10, 1984 of this section, such stay is terminated with respect to the party in interest making such request, unless the debtor or any individual that is liable on such debt with the debtor files and serves upon such party in interest a written objection to the taking of the proposed action.". SEC. 314. Section 1302(b) of title 11, United States Code, is amended— (1) by amending paragraph (1) to read as follows: "(1) perform the duties specified in sections 704(2), 704(3), 704(4), 704(5), 704(6), 704(7), and 704(9) of this title;"; (2) in paragraph (2) by striking out "and" at the end thereof, (3) in paragraph (3) by striking out the period and inserting in lieu thereof "; and", and (4) by adding at the end thereof the following new paragraph: "(4) ensure that the debtor commences making timely payments under section 1326 of this title.". SEC. 315. Section 1307(c) of title 11,. United States Code, is amended— (1) by redesignating paragraphs (4), (5), (6), and (7) as paragraphs (5), (6), (7), and (8), respectively, and (2) by inserting after paragraph (3) the following new paragraph: "(4) failure to commence making timely payments under section 1326 of this title;". SEC. 316. Section 1322(b)(1) of title 11, United States Code, is amended to read as follows: "(1) designate a class or classes of unsecured claims, as provided in section 1122 of this title, but may not discriminate unfairly against any class so designated; however, such plan may treat claims for a consumer debt of the debtor if an individual is liable on such consumer debt with the debtor differently than other unsecured claims;". SEC. 317. Section 1325 of title 11, United States Code, is amended— (1) in subsection (a) by striking out "The" and inserting in lieu thereof "Except as provided in subsection (b), the", (2) by redesignating subsection (b) as subsection (c), and (3) by inserting after subsection (a) the following new subsection: "(b)(1) If the trustee or the holder of an allowed unsecured claim objects to the confirmation of the plan, then the court may not approve the plan unless, as of the effective date of the plan— "(A) the value 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 plan provides that all of the debtor's projected disposable income to be received in the three-year period beginning on the date that the first payment is due under the plan will be applied to make payments under the plan. "(2) For purposes of this subsection, 'disposable income' means income which is received by the debtor and which is not reasonably necessary to be expended— "(A) for the maintenance or support of the debtor or a dependent of the debtor; or "(B) if the debtor is engaged in business, for the payment of expenditures necessary for the continuation, preservation, and operation of such business.".

�