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Bill > HB1024

GA HB1024

GA HB1024
Property; debtor's aggregate interest in real property or personal property used as a residence; revise exemption

summary

Introduced
01/27/2026
In Committee
02/19/2026
Crossed Over
Passed
Dead

Introduced Session

2025-2026 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 such exemption for the primary residence of spouses; to provide for certain increases to such exemption; to provide for related matters; to repeal conflicting laws; and for other purposes.

AI Summary

This bill increases the homestead exemption, which is the amount of equity a debtor can protect in their primary residence or other personal property used as a residence, from $21,500 to $50,000 for an individual debtor, and from $43,000 to $100,000 for a married couple if the property is their primary residence. The bill also introduces a mechanism to adjust these exemption amounts annually for inflation starting in July 2031, with the "inflation rate" being determined by the state revenue commissioner using a standardized method that may consider the Consumer Price Index or similar federal indices to reflect changes in the cost of living.

Committee Categories

Justice

Sponsors (3)

Last Action

House Committee Favorably Reported By Substitute (on 02/19/2026)

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