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CA AB1885

Bill

Official Source

Status

Passed

9/18/2020

Primary Sponsor

Budget

Click for details

Origin

State Assembly

2019-2020 Session

AI Summary

  • Increases homestead exemption amount to the greater of $300,000 or the countywide median sale price of a single-family home in the prior calendar year, capped at $600,000
  • Replaces previous exemption structure that provided $75,000, $100,000, or $175,000 depending on homeowner characteristics
  • Amounts adjust annually for inflation beginning January 1, 2022, based on California Consumer Price Index for All Urban Consumers
  • Applies to judgment debtors claiming homestead exemptions from execution to satisfy judgment debts
  • Effective September 18, 2020

Legislative Description

Debtor exemptions: homestead exemption.

Last Action

Chaptered by Secretary of State - Chapter 94, Statutes of 2020.

9/18/2020

Committee Referrals

Budget and Fiscal Review7/1/2020
Rules6/16/2020
Budget1/17/2020

Full Bill Text

No bill text available