CA SB956

Modifies exemptions for money held in Golden State Scholarshare Trust accounts for judgment debtors in bankruptcy cases by limiting exemptions to the annual gift tax exclusion amount in effect at the time of filing the bankruptcy petition, rather than at time of contribution.

Changes exemptions for Scholarshare accounts in enforcement of money judgments to limit exemptions to contributions made in the 365 days before entry of the money judgment, not to exceed the annual gift tax exclusion under Section 2503(b) of the Internal Revenue Code in effect at time of judgment entry.

Specifies that exemption amounts for Scholarshare accounts are not subject to adjustment by the Judicial Council every 3 years based on the California Consumer Price Index.

Applies to both single and married debtors filing bankruptcy petitions, with specific rules for joint filings and individual filings by spouses.