IL SB1738

Increases Illinois homestead exemption from $15,000 to $50,000 for individual property owners and $100,000 for two or more owners, protecting home equity from judgment creditors

Creates a new $1,000 "automatic exemption" for consumer debt judgment debtors, protecting funds in bank accounts from garnishment until the court return date without requiring the debtor to take action

Increases personal property exemptions: motor vehicle equity from $2,400 to $3,600, tools of trade from $1,500 to $2,250, and personal bodily injury payments from $15,000 to $22,500

Consumer debt judgments entered on or after the effective date may be enforced for 15 years without revival, while those entered between January 1, 2020 and the effective date may be revived within 10 years of entry

Eliminates appearance fees for defendants in small claims proceedings and requires garnishment notices to inform debtors they may lose rights to protect bank account funds if they fail to appear in court