REDUCTION OF HOMESTEAD EXEMPTION FOR FRAUD.

SEC. 308. REDUCTION OF HOMESTEAD EXEMPTION FOR FRAUD. Section 522 of title 11, United States Code, as amended by section 224, is amended—(1) in subsection (b)(3)(A), as so designated by this Act, by inserting “subject to subsections (o) and (p),” before “any property”; and(2) by adding at the end the following:“(o) For purposes of subsection (b)(3)(A), and notwithstanding subsection (a), the value of an interest in—“(1) real or personal property that the debtor or a dependent of the debtor uses as a residence;“(2) a cooperative that owns property that the debtor or a dependent of the debtor uses as a residence; “(3) a burial plot for the debtor or a dependent of the debtor; or “(4) real or personal property that the debtor or a dependent of the debtor claims as a homestead;shall be reduced to the extent that such value is attributable to any portion of any property that the debtor disposed of in the 10-year period ending on the date of the filing of the petition with the intent to hinder, delay, or defraud a creditor and that the debtor could not exempt, or that portion that the debtor could 119 STAT. 82 not exempt, under subsection (b), if on such date the debtor had held the property so disposed of.”.