MD SB939

Expands the bankruptcy homestead exemption to include owner-occupied residential real property held in a revocable trust

Sets the exemption amount at $300,000 for individuals who are at least 60 years old and are either a veteran or have a physician-certified disability expected to last at least 12 months

Sets the exemption amount at $150,000 for all other individuals

Caps the total exemption at $300,000 when multiple individuals in the same bankruptcy proceeding claim the exemption for the same property

Requires annual inflation adjustments to exemption amounts beginning in fiscal year 2028, based on the Consumer Price Index and rounded to the nearest $25

Takes effect June 1, 2026 and applies only to bankruptcy proceedings filed on or after that date