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VA SB301
Bill
Status
Enrolled
2/24/2026
Primary Sponsor
Schuyler VanValkenburg
Click for details
AI Summary
- Establishes a minimum protected account balance of $1,000 that financial institutions must automatically exempt from garnishment across all of a judgment debtor's accounts
- Requires financial institutions to conduct account reviews upon receiving garnishment summons to identify and protect federal and state benefit payments deposited within the preceding two months
- Protects specific benefit payments from garnishment including Social Security, SSI, veterans' benefits, federal civil service retirement, Railroad Retirement, unemployment compensation, public assistance, workers' compensation, and child support
- Mandates the $1,000 minimum protected balance be adjusted every three years starting April 1, 2027, based on changes in the Consumer Price Index (CPI-U), rounded to the nearest $25
- Requires updated garnishment notices to inform judgment debtors that financial institutions must automatically apply these exemptions, while preserving the debtor's right to claim additional exemptions
Legislative Description
Exemptions from garnishment; minimum protected account balance, certain benefit payments.
Last Action
Governor's Action Deadline 11:59 p.m., April 13, 2026
3/10/2026
Committee Referrals
Courts of Justice2/17/2026
Commerce and Labor1/13/2026
Full Bill Text
No bill text available