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AL HB696
Bill
Status
3/9/2010
Primary Sponsor
Barbara Boyd
Click for details
AI Summary
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Increases homestead exemption value from $5,000 to $75,000 for individuals in Alabama.
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Increases homestead exemption value from $10,000 to $150,000 for married couples.
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Homestead exemption continues to apply to properties not exceeding 160 acres and protects against levy and sale under execution or other debt collection processes.
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Permits spouses who jointly own a homestead to claim the exemption separately, each receiving the full individual exemption amount.
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Effective on the first day of the third month following passage and approval by the Governor.
Legislative Description
Homestead exemption, increased for protection against confiscation of a homestead for debts, Sec. 6-10-2 am'd.
Homestead Exemption
Last Action
Indefinitely Postponed
4/14/2010