MS HB574

Expands the exemption from seizure under execution or attachment to include funds in checking or savings accounts at banks, savings and loan associations, savings banks, credit unions, or other financial institutions, in addition to cash on hand.

The exemption applies to tangible personal property selected by the debtor not exceeding $10,000 in cumulative value, which now includes the newly expanded financial account provision.

Maintains all existing exemptions including household goods, motor vehicles, professional tools, health aids, insurance proceeds, retirement plans, education savings accounts, and health savings accounts.

Provides an additional $50,000 exemption for Mississippi residents age 70 and older for property of any type, and maintains separate exemptions up to $5,000 each for earned income tax credits, federal tax refunds, and state tax refunds.

Takes effect July 1, 2018.