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Bill > HB628
GA HB628
GA HB628Property; revise exemption for a debtor's aggregate interest in real property or personal property; provisions
summary
Introduced
02/28/2023
02/28/2023
In Committee
02/15/2024
02/15/2024
Crossed Over
Passed
Dead
03/28/2024
03/28/2024
Introduced Session
2023-2024 Regular Session
Bill Summary
AN ACT To amend Code Section 44-13-100 of the Official Code of Georgia Annotated, relating to exemptions for purposes of bankruptcy and intestate insolvent estates, so as to revise the exemption for a debtor's aggregate interest in real property or personal property that the debtor or a dependent of the debtor uses as a residence, in a cooperative that owns property that the debtor or a dependent of the debtor uses as a residence, or in a burial plot; to provide for related matters; to repeal conflicting laws; and for other purposes.
AI Summary
This bill proposes to amend Georgia's law on exemptions for bankruptcy and intestate insolvent estates. It increases the exemption limit for a debtor's aggregate interest in real or personal property used as a residence, from $21,500 to $35,000. Additionally, if the property is the primary residence of both spouses who are debtors, the exemption limit is increased from $43,000 to $60,000. The bill also repeals any conflicting laws.
Committee Categories
Justice
Sponsors (5)
Last Action
House Committee Favorably Reported By Substitute (on 02/15/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.ga.gov/legislation/64943 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/224098 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/216333 |
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