EXCLUDING EMPLOYEE BENEFIT PLAN PARTICIPANT CONTRIBUTIONS AND OTHER PROPERTY FROM THE ESTATE.

SEC. 323. EXCLUDING EMPLOYEE BENEFIT PLAN PARTICIPANT CONTRIBUTIONS AND OTHER PROPERTY FROM THE ESTATE. Section 541(b) of title 11, United States Code, as amended by section 225, is amended by adding after paragraph (6), as added by section 225(a)(1)(C), the following:“(7) any amount—“(A) withheld by an employer from the wages of employees for payment as contributions—“(i) to—“(I) an employee benefit plan that is subject to title I of the Employee Retirement Income Security Act of 1974 or under an employee benefit plan which is a governmental plan under section 414(d) of the Internal Revenue Code of 1986; 119 STAT. 98“(II) a deferred compensation plan under section 457 of the Internal Revenue Code of 1986; or“(III) a tax-deferred annuity under section 403(b) of the Internal Revenue Code of 1986;except that such amount under this subparagraph shall not constitute disposable income as defined in section 1325(b)(2); or “(ii) to a health insurance plan regulated by State law whether or not subject to such title; or“(B) received by an employer from employees for payment as contributions—“(i) to—“(I) an employee benefit plan that is subject to title I of the Employee Retirement Income Security Act of 1974 or under an employee benefit plan which is a governmental plan under section 414(d) of the Internal Revenue Code of 1986; “(II) a deferred compensation plan under section 457 of the Internal Revenue Code of 1986; or“(III) a tax-deferred annuity under section 403(b) of the Internal Revenue Code of 1986;except that such amount under this subparagraph shall not constitute disposable income, as defined in section 1325(b)(2); or “(ii) to a health insurance plan regulated by State law whether or not subject to such title;”.