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AZ HB2698

Bill

Status

Engrossed

3/26/2010

Primary Sponsor

Kyrsten Sinema

Click for details

Origin

House of Representatives

Forty-ninth Legislature - Second Regular Session (2010)

AI Summary

  • Amends Arizona Revised Statutes § 33-1126 regarding personal property exemptions from execution, attachment, or court-ordered sale.

  • Clarifies exemption language for annuity contracts to specify that beneficiaries can include "the debtor's surviving spouse" and lists dependent family members.

  • Makes technical corrections to retirement plan exemption language under subsection B, specifying exemptions for accounts under Internal Revenue Code sections 401(k), 403(a), 403(b), 408, 408A, and 409.

  • Maintains existing exemptions for life insurance cash surrender value, annuity contracts, child support/spousal maintenance payments, disability insurance proceeds, and damage claims for wrongfully seized exempt property.

  • Does not affect exemptions from child support arrearages or child support debt orders.

Legislative Description

Homestead exemption; limit; retirement accounts

Last Action

Referred to Senate FIN Committee

3/30/2010

Full Bill Text

No bill text available