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GA HB628
Bill
Status
Introduced
2/28/2023
Primary Sponsor
Matt Reeves
Click for details
AI Summary
- Increases the homestead exemption for bankruptcy and intestate insolvent estates from $21,500 to $35,000 for a debtor's aggregate interest in real or personal property used as a residence, cooperative residence, or burial plot
- Raises the spousal homestead exemption from $43,000 to $60,000 when the property title is held by one of two spouses who is a debtor and the property serves as the primary residence of both spouses
- Adds a clarifying condition that the higher spousal exemption applies only when the property is the primary residence of both spouses
- Amends O.C.G.A. § 44-13-100(a)(1) and was offered as a substitute by the House Committee on Judiciary
Legislative Description
Property; revise exemption for a debtor's aggregate interest in real property or personal property; provisions
Last Action
House Committee Favorably Reported By Substitute
2/15/2024
Committee Referrals
Judiciary3/1/2023
Full Bill Text
No bill text available