,,ii  #aae? ,,congress  #b;d ,session   
,s4 #bbhb  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,janu>y #h1 #bjah ,mr4 
,cornyn 7= himself & ,ms4 ,w>r57        
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on !     
,judici>y  ,a ,,bill  ,to am5d title    
#bh1 ,unit$ ,/ates ,code1 to modify v5ue
 requirem5ts relat+ to bankruptcy       
proce$+s4  #a4 ,%ort title  ,?is ,act   
may be cit$ z ! ,bankruptcy ,v5ue ,re=m 
,act ( #bjah4  #b4 ,f9d+s & purpose  7a7
 ,f9d+s ,congress f9ds t-- 7#a7         
bankruptcy law provides a numb] ( v5ue  
options = fil+ bankruptcy "u *apt] #aa (
 title #aa1 ,unit$ ,/ates ,code1 includ+
 place ( incorporation1 pr9cipal place (
 bus9ess & assets1 or :]e an affiliate  
has fil$ a case "u *apt] #aa2  7#b7 !   
wide range ( p]missible bankruptcy v5ue 
options has l$ to an increase 9         
companies fil+ = bankruptcy outside ( _!
 home ,/ates1 or ! di/rict 9 :i* _!     
pr9cipal place ( bus9ess or pr9cipal    
assets are locat$1 a practice kn[n z =um

 %opp+1 & has result$ 9 a conc5tration (
 bankruptcy cases 9 a few di/ricts2     
7#c7 bankruptcy =um %opp+ prev5ts small 
bus9esses1 employees1 retirees1         
cr$itors1 & o!r important /akehold]s f  
fully p>ticipat+ 9 bankruptcy cases t w 
h trem5d\s impacts on _! lives1         
communities1 & local economies1 &       
deprives di/rict c\rts ( ! ,unit$ ,/ates
 ( ! opportunity to contribute to !     
developm5t ( bankruptcy law 9 _!        
jurisdictions2 &  7#d7 r$uc+ =um %opp+ &
 manipulation 9 ! bankruptcy sy/em w    
/r5g!n ! integrity1 build public        
confid5ce1 & ensure fairness 9 !        
bankruptcy sy/em4  7b7 ,purpose ,!      
purpose ( ?is ,act is to prev5t !       
practice ( =um %opp+ 9 cases fil$ "u    
*apt] #aa ( title #aa1 ,unit$ ,/ates    
,code4  #c4 ,v5ue ( cases "u title #aa  
,title #bh1 ,unit$ ,/ates ,code1 is     
am5d$-- 7#a7 by /rik+ section #adjh &   
ins]t+ ! foll[+3  #adjh4 ,v5ue ( cases  
"u title #aa  7a7 ,def9ition ,9 ?is     
section1 ! t]m pr9cipal place ( bus9ess 

means1 ) respect to a p]son or entity t 
is subject to ! report+ requirem5ts (   
section #ac or #ae7;d7 ( ! ,securities  
,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4    
#ghm1 #gho7d771 ! address ( ! pr9cipal  
executive (fice ( ! p]son or entity z   
/at$ 9 ! la/ annual report fil$ "u t    
,act prior to ! comm5cem5t ( a case "u  
title #aa by ! p]son or entity1 unless  
ano!r address is %[n to be ! pr9cipal   
place ( bus9ess by cle> & conv9c+       
evid5ce4  7b7 ,v5ue ,except z provid$ 9 
section #adaj1 a case "u title #aa may  
be comm5c$ only 9 ! di/rict c\rt = !    
di/rict--  7#a7 9 :i* ! domicile1       
resid5ce1 or pr9cipal assets 9 ! ,unit$ 
,/ates ( an individual :o is ! subject (
 ! case h be5 locat$ = ! #ahj days      
imm$iately prec$+ su* comm5cem5t1 or = a
 long] portion ( ! #ahj-;day p]iod ?an !
 domicile1 resid5ce1 or pr9cipal assets 
9 ! ,unit$ ,/ates ( ! individual 7      
locat$ 9 any o!r di/rict2  7#b7 9 :i* ! 
pr9cipal assets or pr9cipal place (     
bus9ess 9 ! ,unit$ ,/ates ( a p]son or  

entity1 o!r ?an an individual1 t is !   
subject ( ! case h be5 locat$ = ! #ahj  
days imm$iately prec$+ ! comm5cem5t1 or 
= a long] portion ( ! #ahj-;day p]iod   
?an ! pr9cipal place ( bus9ess or       
pr9cipal assets 9 ! ,unit$ ,/ates ( !   
p]son or entity 7 locat$ 9 any o!r      
di/rict2 or  7#c7 9 :i* !re is already  
p5d+ a case "u title #aa conc]n+ an     
affiliate t directly or indirectly owns1
 controls1 is ! g5]al p>tn]1 or holds   
#ej p]c5t or m ( ! out/&+ vot+          
securities1 ( ! p]son or entity t is !  
subject ( ! lat] fil$ case if ! p5d+    
case 0 prop]ly fil$ 9 t di/rict "u ?is  
section4  7c7 ,limitations  7#a7 ,9     
g5]al ,= ! purposes ( p>agraphs 7#b7 &  
7#c7 ( subsection 7b71 no effect %all be
 giv5 to a *ange 9 ! own]%ip or control 
( a p]son or entity t is ! subject ( !  
case or its affiliate1 or to a transf] (
 ! pr9cipal assets or pr9cipal place (  
bus9ess ( a p]son or entity t is !      
subject ( ! case or its affiliate to    
ano!r di/rict1 t takes place--  7,a7 )9 

#a ye> be=e ! date on :i* ! case is     
comm5c$2 or  7,b7 = ! purpose ( e/abli%+
 v5ue4  7#b7 ,pr9cipal assets ,= !      
purposes ( subsection 7b77#b7 & p>agraph
 7#a7 ( ?is subsection1 pr9cipal assets 
d n include ca% or ca% equival5ts4  7d7 
,burd5 ,! p]son or entity t comm5ces a  
case "u title #aa %all be> ! burd5 (    
e/abli%+ by cle> & conv9c+ evid5ce t    
v5ue is prop] "u ?is section4  2 &  7#b7
 by /rik+ section #adab & ins]t+ !      
foll[+3  #adab4 ,*ange ( v5ue ,not)/&+ t
 a case or proce$+ "u title #aa is fil$ 
9 ! correct division or di/rict1 a      
di/rict c\rt may nev]!less transf] a    
case or proce$+ "u title #aa to a       
di/rict c\rt = ano!r di/rict or         
division1 9 ! int]e/ ( ju/ice or = !    
conv5i5ce ( ! p>ties4 ,if a case or     
proce$+ "u title #aa is fil$ 9 ! wrong  
division or di/rict1 ! di/rict c\rt %all
 transf]1 dismiss ! case or proce$+1 or1
 if x be 9 ! int]e/ ( ju/ice1 transf] ! 
case or proce$+ "u title #aa to any     
di/rict or division 9 :i* x c\ld h be5  

br\ght4 ,! c\rt %all ent] an ord] on any
 objection to or reque/ to *ange v5ue ( 
a case or proce$+ "u title #aa n lat]   
?an #ad days aft] ! fil+ ( su* objection
 or reque/4  4