LIMITATION ON LUXURY GOODS.

SEC. 310. LIMITATION ON LUXURY GOODS. Section 523(a)(2)(C) of title 11, United States Code, is amended to read as follows:“(C)(i) for purposes of subparagraph (A)—“(I) consumer debts owed to a single creditor and aggregating more than $500 for luxury goods or services incurred by an individual debtor on or within 90 days before the order for relief under this title are presumed to be nondischargeable; and “(II) cash advances aggregating more than $750 that are extensions of consumer credit under an open end credit plan obtained by an individual debtor on or within 70 days before the order for relief under this title, are presumed to be nondischargeable; and“(ii) for purposes of this subparagraph—“(I) the terms ‘consumer’, ‘credit’, and ‘open end credit plan’ have the same meanings as in section 103 of the Truth in Lending Act; and“(II) the term ‘luxury goods or services’ does not include goods or services reasonably necessary for the support or maintenance of the debtor or a dependent of the debtor.”.