On the recordMarch 13, 2001
If you put a time date in this, why wouldn't that encourage certain creditors to beat that date and push into bankruptcy ahead of that deadline? This is what every bankruptcy attorney with whom I have talked--and I have it right here: The inclusion of an effective date may not reduce the likelihood that non-covered creditors would rush the bankruptcy process, but rather could heighten and accelerate that risk because the affected parties will perceive a need to beat the legislative clock while simultaneously trying to amend the legislation.
Source
govinfo.gov
