MN HF2447

Updates household goods exemption to replace outdated references to "phonographs, radio and television receivers" with "radios, computers, tablets, televisions, printers, and cell phones," maintaining the $11,250 value limit.

Modifies jewelry exemption language to clarify that debtors may exempt up to $3,062.50 in wedding rings, religious or culturally recognized marriage symbols, and jewelry in their possession.

Creates new exemption for household tools and equipment allowing debtors to exempt up to $3,000 in aggregate value of hand tools, power tools, snow removal equipment, and lawnmowers.

Establishes catch-all exemption permitting debtors to exempt up to $1,250 in aggregate value of any property except earnings.

Requires debtors with household goods exceeding $11,250 to itemize exempt property and select the exemption in writing at the time a loan is made, allowing creditors to take security interests in excess value.