House Ways and Means Education Hearing
Room 200 at 11:00:00
Under existing law, Alabama residents are entitled to a homestead exemption to protect their home from sale or levy by creditors. The existing homestead exemption amount is $15,000 and is adjusted every three years for inflation. For collection purposes, the law requires residents use the exemption amount in effect at the time the debt was incurred.
This bill would increase the homestead exemption to $56,400 for residents over 62 years of age and individuals with disabilities. Additionally, this bill would require the exemption amounts used in bankruptcy cases to be determined as of the filing date of the petition rather than the date of the debt.
This bill would also make conforming changes and nonsubstantive, technical revisions to update the existing code language to current style.
Pending Senate Finance and Taxation Education
Read for the first time and referred to the Senate Committee on Finance and Taxation Education
Motion to Read a Third Time and Pass - Adopted Roll Call 45
Third Reading in House of Origin
Read for the Second Time and placed on the Calendar
Reported Out of Committee House of Origin
Pending House Ways and Means Education
Read for the first time and referred to the House Committee on Ways and Means Education
Prefiled
Room 200 at 11:00:00
Source: Alabama Legislature