Loading chat...

AR HB1752

Bill

Status

Passed

4/16/2025

Primary Sponsor

John Maddox

Click for details

Origin

House of Representatives

95th General Assembly (2025 Regular)

AI Summary

  • 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

  • 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

  • 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

  • Applies protections to both vested and unvested rights to assets held in or payments received from these qualified savings plans

  • 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

Committee Referrals

Judiciary4/2/2025
Judiciary3/12/2025

Full Bill Text

No bill text available