NJ A4279

Creates a homestead exemption allowing homeowners in bankruptcy to protect their primary residence from attachment, execution, and forced sale, covering dwelling houses, condominiums, and manufactured homes.

Establishes a $3,500 bank account exemption that protects funds in deposit accounts from seizure through court-approved petition, regardless of whether the debtor files for bankruptcy.

Requires garnishment orders to instruct banks to only seize amounts exceeding $3,500 and mandates banks notify debtors of garnishment attempts with information about objection procedures.

Exempts Child Tax Credit and Earned Income Tax Credit payments (under 26 U.S.C. sections 24 and 32) from seizure on execution.

Takes effect January 1, 2027, with the $3,500 exemption amount adjusted every three years based on Consumer Price Index changes for the Mid-Atlantic Region.