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2020 SESSION
HB 790 Homestead exemption; bankruptcy exemptions.
Introduced by: Marcus B. Simon | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Homestead exemption; bankruptcy exemptions. Makes various changes to homestead exemptions, including providing that the official schedule of property claimed exempt filed with the United States Bankruptcy Court in a bankruptcy proceeding constitutes a sufficient writing to exempt such real and personal property from creditor process. The bill also provides that a householder may hold exempt from creditor process real or personal property that the householder or his dependent uses as a principal residence not exceeding $25,000 in value.
SUMMARY AS PASSED HOUSE:
Homestead exemption; bankruptcy exemptions. Makes various changes to homestead exemptions, including providing that the official schedule of property claimed exempt filed with the United States Bankruptcy Court in a bankruptcy proceeding constitutes a sufficient writing to exempt such real and personal property from creditor process. The bill also provides that a householder may hold exempt from creditor process real or personal property that the householder or his dependent uses as a principal residence not exceeding $25,000 in value. The bill requires that the dollar amounts of the homestead exemption shall be adjusted triennially based on the United States Average Consumer Price Index.
SUMMARY AS INTRODUCED:
Homestead exemption; bankruptcy exemptions. Makes various changes to homestead exemptions, including providing that the official schedule of property claimed exempt filed with the United States Bankruptcy Court in a bankruptcy proceeding constitutes a sufficient writing to exempt such real and personal property from creditor process. The bill also provides that a householder may hold exempt from creditor process real or personal property that the householder or his dependent uses as a principal residence not exceeding $25,000 in value. The bill requires that the dollar amounts of the homestead exemption shall be adjusted triennially based on the United States Average Consumer Price Index.