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AR HB1752
Bill
Status
4/16/2025
Primary Sponsor
John Maddox
Click for details
AI Summary
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Amends Arkansas Code § 16-66-220 to expand protections for savings plans from creditor claims, adding "qualified savings plans" to the existing exemptions for pension, profit-sharing, and retirement accounts
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Defines "qualified savings plan" broadly to include stock bonus, pension, annuity, deferred compensation, profit-sharing, health, education, and similar plans that are exempt from federal income tax or have tax-deferred status
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Specifically protects inherited individual retirement accounts, health savings accounts, 529 college savings plans, ABLE accounts (26 U.S.C. § 529A), and Coverdell education savings accounts from attachment, execution, and seizure for debt satisfaction
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Applies protections to both vested and unvested rights to assets held in or payments received from these qualified savings plans
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Approved on April 16, 2025, as Act 681 of the Regular Session
Legislative Description
To Exempt Certain Savings Plans From The Execution Of A Judgment.
Last Action
Notification that HB1752 is now Act 681
4/16/2025