FLEXIBLE RULES FOR DISCLOSURE STATEMENT AND PLAN.

SEC. 431. FLEXIBLE RULES FOR DISCLOSURE STATEMENT AND PLAN. Section 1125 of title 11, United States Code, is amended—(1) in subsection (a)(1), by inserting before the semicolon “and in determining whether a disclosure statement provides adequate information, the court shall consider the complexity of the case, the benefit of additional information to creditors 119 STAT. 110 and other parties in interest, and the cost of providing additional information”; and(2) by striking subsection (f), and inserting the following:“(f) Notwithstanding subsection (b), in a small business case—“(1) the court may determine that the plan itself provides adequate information and that a separate disclosure statement is not necessary;“(2) the court may approve a disclosure statement submitted on standard forms approved by the court or adopted under section 2075 of title 28; and“(3)(A) the court may conditionally approve a disclosure statement subject to final approval after notice and a hearing;“(B) acceptances and rejections of a plan may be solicited based on a conditionally approved disclosure statement if the debtor provides adequate information to each holder of a claim or interest that is solicited, but a conditionally approved disclosure statement shall be mailed not later than 25 days before the date of the hearing on confirmation of the plan; and“(C) the hearing on the disclosure statement may be combined with the hearing on confirmation of a plan.”.