CA SB898

Increases various exemption amounts for judgment debtors to reflect Judicial Council adjustments effective April 1, 2019, including homestead exemptions ($29,275), motor vehicle exemptions ($3,325), and tools/trade property exemptions ($8,725).

Adds money held in Golden State Scholarshare Trust Act college savings accounts as exempt property, subject to annual gift tax exclusion limits for contributions made within 365 days and 730 days prior to bankruptcy filing.

Updates exemption amounts across multiple sections including jewelry ($8,725), inmate trust accounts ($1,750), unmatured life insurance loan values ($13,975), and deposit accounts with directly deposited public/social security benefits ($1,750-$5,250 depending on circumstances).

Clarifies that exemptions provided by California law apply in federal bankruptcy cases regardless of whether a money judgment is being enforced, unless debtors elect alternative federal bankruptcy exemptions.

Approved by Governor September 11, 2020.