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NY S08451

Bill

Official Source

Status

Engrossed

8/3/2010

Primary Sponsor

Eric Schneiderman

Click for details

Origin

Senate

2009-2010 General Assembly

AI Summary

  • Amends Civil Practice Law and Rules Section 5205(a)(8) to modify exemptions for motor vehicles in debt collection proceedings
  • Sets motor vehicle exemption at $4,000 above liens and encumbrances, or $10,000 if equipped for use by a disabled debtor
  • Adds exception preventing motor vehicle exemption when the judgment creditor is the State of New York, its agencies, or any municipal corporation
  • Maintains existing exceptions to the exemption for child support, spousal support, maintenance, alimony, or equitable distribution cases
  • Effective date matches the implementation date of related bills S.7034-A and A.8735-A from 2010

Legislative Description

Relates to increasing property values which are exempt from the satisfaction of a money judgement and increases the exemptions in bankruptcy.

Last Action

referred to judiciary

8/4/2010

Committee Referrals

Judiciary8/4/2010
Rules7/26/2010

Full Bill Text

No bill text available