Bill > HB275

This bill modifies Missouri's laws regarding property exemptions from garnishment and attachment, significantly increasing several exemption amounts and establishing new rules for bank account garnishments. The bill raises the exemption for household goods and furnishings from $3,000 to $15,000, increases motor vehicle exemptions from $3,000 to $5,000 (with potential additional exemptions), and boosts the homestead exemption from $15,000 to $30,000. It also introduces a new section (525.235) that comprehensively regulates how financial institutions handle garnishment orders, including specific requirements about service dates, account attachments, and processing. The new garnishment rules include provisions that protect certain types of exempt funds (like Social Security benefits), limit the frequency of garnishment orders, and specify that institutions are not required to investigate or defend a debtor's interests. These changes aim to provide greater financial protection for individuals by making more of their assets exempt from creditors and establishing clearer procedures for garnishment. The new provisions will become effective on January 1, 2026, giving institutions and courts time to prepare for the implementation of these changes.

https://house.mo.gov/Bill.aspx?bill=HB275&year=2025&code=R