Section 104(b) of the Bankruptcy Code provides the mechanism for an automatic 3-year adjustment of dollar amounts in certain sections of the Bankruptcy Code. The changes began with April 1, 1998 and continued with each 3-year interval thereafter. The next changes go into effect on April 1, 2007. The adjustment is to reflect the change in the Consumer Price Index for All Urban Consumers for the most recent 3-year period ending immediately before the January 1 preceding such April 1. Some of the most important adjustments are as follows:
Section 101(3) definition of an assisted person – $150,000 to $164,250
Section 109(e) debt limitations for chapter 13 eligibility – $307,675 to $336,900 for unsecured debt and $922,975 to $1,010,650 for secured debt
Section 522(p) limitation on interest acquired during 1215 days prior to filing on state homestead exemption – $125,000 to $136,875
Section 522 (q) certain limitations on state homestead exemption – $125,000 to $136,875
