ND SB2206

Increases homestead exemption value from $100,000 to $150,000 for North Dakota residents, applicable to land and dwelling houses with all appurtenances and improvements.

Raises motor vehicle exemption limits from $10,950 to $12,000 for standard vehicles, and from $32,000 to $50,000 for vehicles modified to accommodate individuals with permanent physical disabilities.

Increases life insurance cash value exemption from $81,000 to $101,000 per account or from $162,000 to $202,000 in aggregate for all accounts, with clarification that unscheduled deposits are not exempt.

Increases professional tools and implements exemption from $10,500 to $11,500 and increases retirement account exemptions from $100,000 per account or $200,000 aggregate to $200,000 per account or $400,000 aggregate.

Passed the Senate 46-0 (1 absent) and the House 90-2 (2 absent) during the 2023 legislative session.