H.R. 10724

To amend title 11, United States Code, to clarify the rules for the exceptions to the discharge of the debt of an individual debtor, and for other purposes.

Sponsor: J. Luis Correa

1 cosponsor
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Sec. 1. Clarification of exception to discharge of individual debtor

Section 523(a) of title 11, United States Code, is amended—

(1) in paragraph (2)—

(A) by amending subparagraph (A) to read as follows:

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(A) false pretenses used by the debtor, a false representation made by the debtor, or actual fraud committed by the debtor, other than a statement respecting the debtor's or an insider's financial condition;

(B) in subparagraph (B), in the matter preceding clause (i), by inserting after use the following: , by the debtor,; and

(2) by amending paragraph (4) to read as follows:

Text this section adds to the law

(4) for, when committed by the debtor—

(A) fraud or defalcation while acting in a fiduciary capacity;

(B) embezzlement; or

(C) larceny;