MI HB4166

Increases homestead exemption value from $30,000 to $150,000 for debtors in bankruptcy under federal bankruptcy code.

Removes the enhanced exemption of $45,000 for debtors or dependents who are 65 years of age or older or disabled.

Makes technical corrections to internal revenue code citations, changing "408a" to "408A" and adding "of 1986" for clarity.

Capitalizes "Consumer Price Index" and "Department of Labor" throughout the section for consistency with proper naming conventions.

Maintains existing exemptions for personal property, retirement accounts, pensions, and homestead proceeds while applying the new uniform $150,000 homestead exemption limit.