HB 2015 was the final bill of the day to be considered by the subcommittee. Thus, my testimony was limited to five minutes. Subcommittee chair Greg Habeeb, who struck me as an excellent example of an iron fist in a velvet glove, wanted me to speak to only one issue: the repeal of Virginia's opt-out of the federal bankruptcy exemptions. You can read about the convoluted state of affairs that Congress created when it amended the Bankruptcy Code in 2005 in my full statement below. I did my best to explain it in five minutes but the subcommittee remained unconvinced.
When all was said and done, matters ended where I had expected. The subcommittee was expressed its concern for fair treatment of poor Virginians but was unwilling to give up the discretion afforded the states by Congress. A satisfactory result in my opinion.
Following is my prepared statement.