Loading chat...

MS HB164

Bill

Official Source

Status

Failed

2/3/2015

Primary Sponsor

Bobby Moak

Click for details

Origin

House of Representatives

2015 Regular Session

AI Summary

  • Increases the maximum land quantity for homestead exemption from 160 acres to 320 acres under Mississippi Code sections 85-3-21, 85-3-27, 85-3-31, and 85-3-35
  • Maintains the property value exemption limit of $75,000 (inclusive of improvements) for homestead property protected from seizure or sale under execution or attachment
  • Applies the expanded acreage limit to declarations filed for record, properties selected by default, and allotments made by officers during execution proceedings
  • Preserves existing provisions requiring deduction of encumbrances, liens, and taxes from property value when calculating exemption eligibility
  • Takes effect July 1, 2015

Legislative Description

Property exempt from seizure under execution or attachment; increase quantity of land included in homestead exemption.

Last Action

Died In Committee

2/3/2015

Committee Referrals

Judiciary A1/12/2015

Full Bill Text

No bill text available