CS/HB 265 — Value of Motor Vehicles Exempt from Legal Process
by Civil Justice and Property Rights Subcommittee and Reps. Gottlieb, Benjamin, and others (CS/SB 528 by Judiciary Committee and Senator Polsky)
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Judiciary Committee (JU)
The bill creates an exemption that will protect an individual debtor’s interest in a single motor vehicle, up to $5,000 in value, in actions arising under the federal Bankruptcy Code.
This provision applies to any bankruptcy action that is filed on or after July 1, 2022.
If approved by the Governor, these provisions take effect July 1, 2022.
Vote: Senate 37-0; House 107-0