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(a) The plan shall—
(1) provide for
the submission of all or such portion of future earnings or other future
income of the
debtor to the
supervision and control of the Trustee as is necessary for the execution
of the plan;
(2) provide for the full
payment, in deferred cash payments, of all claims entitled to priority
under section
507, unless—
(A)
the
claim is a
claim owed to a
governmental unit that arises as
a result of the sale,
transfer,
exchange, or other disposition of any farm asset used in the
debtor's
farming operation, in which case
the
claim shall be treated as an
unsecured
claim that is not entitled to
priority under section 507, but the
debt shall be treated in such manner only if the
debtor receives a discharge; or
(B) the holder of a
particular
claim agrees to a different
treatment of that
claim;
(3) if the plan classifies
claims and interests, provide the same treatment for each
claim or interest within a
particular class unless the holder of a particular
claim or interest agrees to less
favorable treatment; and
(4)
notwithstanding any other provision of this section, a plan may provide
for less than full payment of all amounts owed for a
claim entitled to priority under
section
507(a)(1)(B) only if the plan
provides that all of the
debtor's
projected disposable income for a 5-year period beginning on the date
that the first payment is due under the plan will be applied to make
payments under the plan.
(b) Subject to
subsections
(a) and
(c) of this section,
the plan may—
(1) designate a
class or classes of unsecured claims, as provided in section
1122 of this title, but
may not discriminate unfairly
against any class so designated; however, such plan may treat claims for
a
consumer debt of the
debtor if an individual is liable
on such
consumer debt with the
debtor differently than other
unsecured claims;
(2) modify the
rights of holders of secured claims, or of holders of unsecured claims,
or leave unaffected the rights of holders of any class of claims;
(3) provide for
the curing or waiving of any default;
(4) provide for
payments on any unsecured
claim to
be made concurrently with payments on any secured
claim or any other unsecured
claim;
(5) provide for
the curing of any default within a reasonable time and maintenance of
payments while the case is pending on any unsecured
claim or secured
claim on which the last payment is
due after the date on which the final payment under the plan is due;
(6) subject to
section
365 of this title, provide for the
assumption, rejection, or assignment of any executory contract or
unexpired lease of the
debtor not
previously rejected under such section;
(7) provide for
the payment of all or part of a
claim
against the debtor from property of the estate or property of the
debtor;
(8) provide for
the sale of all or any part of the property of the estate or the
distribution of all or any part of the property of the estate among
those having an interest in such property;
(9) provide for
payment of allowed secured claims consistent with section
1225(a)(5)
of this title, over a period exceeding the period permitted under
section
1222(c);
(10) provide for
the vesting of property of the estate, on confirmation of the plan or at
a later time, in the
debtor or in
any other
entity;
(11)
provide for the payment of interest accruing after the date of the
filing of the petition on unsecured claims that are nondischargeable
under section
1228(a), except that such interest may be paid only
to the extent that the
debtor has
disposable income available to pay such interest after making provision
for full payment of all allowed claims; and
(12)
include any other appropriate provision not inconsistent with this
title.
(c) Except as
provided in subsections
(b)(5) and
(b)(9), the plan
may not
provide for payments over a period that is longer than three years
unless the court for cause approves a longer period, but the court
may not approve a period that is
longer than five years.
(d) Notwithstanding
subsection (b)(2) of this section and sections
506(b) and
1225(a)(5)
of this title, if it is proposed in a plan to cure a default, the amount
necessary to cure the default, shall be determined in accordance with
the underlying agreement and applicable nonbankruptcy law.
(Added
and amended Pub. L. 99-554, title II, § 255, title III, § 302(f), Oct.
27,
1986, 100 Stat. 3109, 3124; Pub. L.
103-394, title III, § 305(b), Oct. 22, 1994,
108 Stat. 4134; Pub. L. 105-277, div. C, title I, § 149(a),
Oct. 21, 1998, 112 Stat. 2681-610; Pub.
L. 106-5, § 1(1), (2), Mar. 30, 1999,
113 Stat. 9; Pub. L. 106-70, § 1, Oct. 9,
1999, 113 Stat. 1031; Pub. L. 107-8, § 1,
May 11, 2001, 115 Stat. 10; Pub. L. 107-17, § 1,
June 26, 2001, 115 Stat. 151; Pub. L.
107-170, § 1, May 7, 2002, 116 Stat.
133; Pub. L. 107-171, title X, § 10814(a),
May 13, 2002, 116 Stat. 532; Pub. L. 107-377, § 2(a),
Dec. 19, 2002, 116 Stat. 3115.); Pub. L. 108-73, § 2(a), Aug. 15, 2003, 117 Stat. 891; Pub. L. 108-369, § 2(a), Oct. 25, 2004,
118 Stat. 1749; Pub. L.
109-8,
Title II, Subtitle B, § 213(3),
(4), Title X, §§ 1001(a)(1),
1003(a), April 20, 2005, 119 Stat. 52, 185, 186.)
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