On August 23, 2019, the Small Business Reorganization Act of 2019, P.L. 116-54 (SBRA) was enacted (see https://www.congress.gov/116/bills/hr3311/BILLS-116hr3311enr.pdf). The SBRA creates a new subchapter V of chapter 11 for the reorganization of small business debtors. It does not repeal existing chapter 11 provisions regarding small business debtors, but instead creates an alternative procedure that small business debtors may elect to use. The effective date of the SBRA is February 19, 2020.
The public comment period will close on November 13, 2019.
Click here to view the Clerk's notice in it's entirety.