As NACBA reported, on March 17, 2021, the U.S. House of Representatives passed H.R. 1651 “COVID–19 Bankruptcy Relief Extension Act of 2021”. That bill extended all the sunsets in the CARES Act and Consolidated Appropriations Act to March 27, 2022.
Today, the U.S. Senate passed an amended COVID-19 Bankruptcy Relief Extension Act of 2021 by unanimous consent. The amended bill removes the extension of the bankruptcy-related sunset provisions found in the Consolidated Appropriations Act of 2021 that passed on December 27, 2020, and only includes the CARES Act extenders, also allowing seven-year modifications for plans confirmed in the last year. The amended Bankruptcy Relief Extension Act of 2021 now goes back to the House for a vote where we hope it can pass by unanimous consent. If there are any objections, it could be considered again when Congress reconvenes after its recess and we expect it would pass then.
H.R. 1651 “COVID-19 Bankruptcy Relief Extension Act of 2021” was amended by striking section 2(c) (the Appropriations Act extensions) due to a hold put on the bill by Senator Rand Paul (R-KY). Senator Paul insisted on this amendment for him to drop his opposition.
NACBA will remain attentive and in contact with our friends in Congress to see the enactment of the amended COVID-19 Bankruptcy Relief Extension Act of 2021.
Please direct your questions to NACBA’s Director of Government Affairs, Krista D’Amelio.