Bill > HB1520

This bill proposes to increase the value of certain items that debtors can keep when facing a judgment or bankruptcy, and to add new categories of items that are protected. Specifically, it raises the exemption for household goods, furnishings, and personal items from $5,000 to $10,000 for debtors who are elderly or have a disability, and increases the exemption for a motor vehicle necessary for work or education from $10,000 to $25,000 for the same group of debtors. The bill also introduces a new exemption for firearms up to $3,000 in value and clarifies the definition of "disability" to include a mental or physical impairment that significantly hinders employment. Additionally, it modifies how certain exemptions apply in bankruptcy proceedings and expands protections for retirement plans, ensuring that most retirement funds are shielded from creditors except for claims by the Maryland Department of Health. The bill also specifies that 25% of a personal injury or workers' compensation recovery can be subject to execution for child support arrears.

Justice

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1520?ys=2026RS