House Bill 464 Summary

• Increases personal property exemption per item from $750 to $1,000 and total exemption from $7,500 to $7,500 under Idaho Code Section 11-605(1)

• Increases implements, professional books, business equipment and tools exemption from $2,500 to $10,000, and motor vehicle exemption from $7,000 to $10,000 under Section 11-605(3)

• Increases firearm exemption from $750 to $1,500 under Section 11-605(8)

• Increases tangible personal property exemption from $800 to $1,500 under Section 11-605(10)

• Increases disposable earnings exemption from $2,500 to $12,500 per calendar year under Section 11-605(11), and raises homestead exemption cap from $175,000 to $175,000 under Section 55-1003

• Applies to bankruptcy petitions filed on or after the bill's passage and approval date