summary
Introduced
02/04/2025
02/04/2025
In Committee
03/21/2025
03/21/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Code of Civil Procedure. Exempts from garnishment for a period of 30 calendar days wages electronically deposited directly into a judgment debtor's checking or savings account in a financial institution. Increases the amount that every individual is entitled to for the individual's estate of homestead from $15,000 to $100,000 if the property is owned by a single individual, and from $30,000 to $200,000 if the property is owned by 2 or more individuals. Makes conforming changes in provisions regarding: the validity of a release, waiver, or conveyance of a property; the proceeds of a sale; bids for less than the exempted amount; proceedings to enforce a judgment; notice to judgment debtors; and the sale of premises and distribution of proceeds. Increases the exemptions for: other personal property from $4,000 to $27,000; a motor vehicle from $2,400 to $16,000; tools of the trade of the debtor from $1,500 to 10,000; and personal injury from $15,000 to $100,000. Makes conforming changes.
AI Summary
This bill increases several important exemptions for individuals facing judgments or financial hardships in Illinois. The legislation significantly raises the homestead exemption (the value of a home protected from creditors) from $15,000 to $100,000 for single individuals and from $30,000 to $200,000 for properties owned by two or more individuals. Additionally, the bill expands other personal property exemptions, increasing the exemption for personal property from $4,000 to $27,000, motor vehicle exemption from $2,400 to $16,000, tools of trade exemption from $1,500 to $10,000, and personal injury exemption from $15,000 to $100,000. A notable new provision protects electronically deposited wages in a judgment debtor's bank account, making such funds exempt from garnishment for 30 calendar days. The bill makes corresponding changes to various legal procedures related to these exemptions, such as how properties are appraised, sold, or divided when attempting to satisfy a judgment, with the goal of providing more financial protection for individuals facing legal debt collection efforts.
Committee Categories
Justice
Sponsors (1)
Last Action
Rule 3-9(a) / Re-referred to Assignments (on 03/21/2025)
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.ilga.gov/legislation/BillStatus.asp?DocNum=1501&GAID=18&DocTypeID=SB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/SB/10400SB1501.htm |
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