Phillip Shoopman voted Yea (Override of Veto) on this Legislation.
Title: Bankruptcy Exemptions
Vote to pass a bill that increases how much property, cash, and other assets that debtors can keep in the case of debt collection.
- Allows debtors to keep motor vehicles valued at up to $5,000 (Sec. 1). - Allows debtors to keep household furnishings, goods, apparel, appliances, books, animals, crops, or musical instruments worth up to $4,000 in aggregate value (Sec. 1). - Allows debtors to keep jewelry worth up to $1,000 in aggregate value (Sec. 1). - Allows debtors to keep cash and other liquid assets worth up to $5,000 in aggregate value (Sec. 1). - Allows debtors to keep professional books or tools of the trade worth up to $1,500 in aggregate value (Sec. 1). - Allows debtors to keep property worth up to $5,000 of an unused exemption amount to which the debtor is entitled (Sec. 1). - Requires that dollar amounts be adjusted for inflation beginning on July 1, 2008, and every two years thereafter (Sec. 1).
Title: Bankruptcy Exemptions
Title: Bankruptcy Exemptions
Vote to pass a bill that increases how much property, cash, and other assets that debtors can keep in the case of debt collection.