50-State Exemption Updates
What Exemptions have changed in my state?

50-State Exemption Updates

If there's changes in your state’s exemptions, here's where you'll find out about them.
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Updated: 2022-03-31
State Bankruptcy Exemptions - All Categories
 
Is My State Adjusting Its Bankruptcy Exemptions for Inflation in 2022?

State Updates - 2022

California - April 1 2022

California updates its exemption amounts every three years. (§703.150) (The last revision was  in 2022; the next will be April 1, 2025.) As a result, the amounts listed in this chart (from the 2019 revisions) may not match the amounts that appear in the cited statutes. The 2022 exemption amounts can be found on form EJ-156 the California Judicial Council Website.

Indiana - March 2022

Indiana adjusts its exemption amounts every six years, starting in 2010, most recently in 2022, and next in 2028.

Maryland - April 1, 2022

Maryland homestead amount is keyed to the inflation adjusted amount of the federal exemptions which change every three years and was last changed in 2022.

Ohio - April 2022

Ohio adjusts the exemption amounts found in section RC 2329.66 every three years. The latest inflation adjusted amounts for 2022 can be found here

 

April 2022 - Federal Bankruptcy Amounts Updated for Exemptions, debt limits, etc.

Source: Adjustment of Certain Dollar Amounts in the Bankruptcy Code A Notice by the Judicial Conference of the United States on 02/04/2022

Affected sections of Title 28 U.S.C. and the bankruptcy code Dollar amount to be adjusted New (adjusted) dollar amount 1
28 U.S.C.
Section 1409(b)—a trustee may commence a proceeding arising in or related to a case to recover:    
(1)—money judgment of or property worth less than $1,375 $1,525.
(2)—a consumer debt less than $20,450 $22,700.
(3)—a non-consumer debt against a non-insider less than $25,000 $27,750.
11 U.S.C.
Section 101(3)—definition of assisted person $204,425 $226,850.
Section 101(18)—definition of family farmer $10,000,000 (each time it appears) $11,097,350 (each time it appears).
Section 101(19A)—definition of family fisherman $2,044,225 (each time it appears) $2,268,550 (each time it appears).
Section 101(51D)—definition of small business debtor $2,725,625 (each time it appears) $3,024,725 (each time it appears).
Section 109(e)—debt limits for individual filing bankruptcy under chapter 13 $419,275 (each time it appears) $1,257,850 (each time it appears) $465,275 (each time it appears). $1,395,875 (each time it appears).
Section 303(b)—minimum aggregate claims needed for the commencement of an involuntary chapter 7 or 11 petition $16,750 (each time it appears) $18,600 (each time it appears).
Section 507(a)—priority expenses and claims:    
(1)—in paragraph (4) $13,650 $15,150.
(2)—in paragraph (5)(B)(i) $13,650 $15,150.
(3)—in paragraph (6) $6,725 $7,475.
(4)—in paragraph (7) $3,025 $3,350.
Section 522(d)—value of property exemptions allowed to the debtor:    
(1)—in paragraph (1) $25,150 $27,900.
(2)—in paragraph (2) $4,000 $4,450.
(3)—in paragraph (3) $625 $13,400 $700. $14,875.
(4)—in paragraph (4) $1,700 $1,875.
(5)—in paragraph (5) $1,325 $12,575 $1,475. $13,950.
 
(6)—in paragraph (6) $2,525 $2,800.
(7)—in paragraph (8) $13,400 $14,875.
(8)—in paragraph (11)(D) $25,150 $27,900.
Section 522(f)(3)—exception to lien avoidance under certain state laws $6,825 $7,575.
Section 522(f)(4)—items excluded from definition of household goods for lien avoidance purposes $725 (each time it appears) $800 (each time it appears).
Section 522(n)—maximum aggregate value of assets in individual retirement accounts exempted $1,362,800 $1,512,350.
Section 522(p)—state homestead exemption, limit for interest acquired 1215 days before filing $170,350 $189,050.
Section 522(q)—state homestead exemption, limit under particular circumstances $170,350 $189,050.
Section 523(a)(2)(C)—exceptions to discharge—presumption of nondischargeability:    
(1)—in paragraph (i)(I)—consumer debts for luxury goods or services incurred ≤90 days before filing owed to a single creditor in the aggregate $725 $800.
(2)—in paragraph (i)(II)—certain cash advances obtained ≤70 days before filing, in the aggregate $1,000 $1,100.
Section 541(b)—certain property of the estate exclusion limits $6,825 (each time it appears) $7,575 (each time it appears).
Section 547(c)(9)—minimum preference avoidance value in cases with primarily non-consumer debts $6,825 $7,575.
Section 707(b)—dismissal of a chapter 7 case or conversion to chapter 11 or 13 (means test):    
(1)—in paragraph (2)(A)(i)(I) $8,175 $9,075.
(2)—in paragraph (2)(A)(i)(II) $13,650 $15,150.
(3)—in paragraph (2)(A)(ii)(IV) $2,050 $2,275.
(4)—in paragraph (2)(B)(iv)(I) $8,175 $9,075.
(5)—in paragraph (2)(B)(iv)(II) $13,650 $15,150.
(6)—in paragraph (5)(B) $1,375 $1,525.
(7)—in paragraph (6)(C) $750 $825.
(8)—in paragraph (7)(A)(iii) $750 $825.
Section 1322(d)—length of chapter 13 plan, current monthly income, 4+ household $750 (each time it appears) $825 (each time it appears).
Section 1325(b)—confirmation of chapter 13 plan, current monthly income, 4+ household $750 (each time it appears) $825 (each time it appears).
Section 1326(b)(3)—payments to former chapter 7 trustee $25 $25.
1 The New (Adjusted) Dollar Amounts reflect a 10.97347880254584 percent increase, rounded to the nearest $25.

State Updates 2021

Alabama – April 2021

  • Homestead Exemption Ala. Code § 6-10-2, § 6-10-3, § 6-10-4; Const. Art. X, § 205 increasing from $15,500 to $16,450
  • Personal Property Exemption Ala. Code § 6-10-6 increasing from $7,750 to $8,225

Washington - May 2021

  • 735 ILCS 5/12-901 Homestead exemption has been increased to the greater of: $125,000.00; or the county median sale price of a single-family home for the year preceding the petition date – May 2021

West Virginia - July 2021

  • Homestead/Motor Vehicle Exemption Amount Increase – July 2021
  • District of West Virginia allows the use of Federal Exemptions effective July 7, 2021

Changes to Exemptions of Property in Bankruptcy Proceedings

WEST VIRGINIA §38-10-4.

Exemptions of property in bankruptcy  proceedings

EFFECTIVE WITH CASES FILED ON OR AFTER JULY 7, 2021

The changes allows a bankruptcy debtor filing in WV to use either the exemptions under WV Code 38-10-4 or the federal bankruptcy exemptions in 522(d)

Some of the exemptions are limited by “reasonably necessary” in the statute.  These are designated with an *

PROPERTY

WV CODE 38-10-4

11 U.S.C. 522(d)

residential real estate or burial plot

$35,000.00—per debtor (a)

$25,150.00 per debtor (1)

ONE vehicle

$7,500.00—per debtor (b)

$4,000.00 (2)

household furnishings,  household goods, wearing apparel, appliances, books, animals,  crops or musical instruments,

No more than $400.00 in any ONE particular item;

 

Total exemption of $8,000.00 (c)

$625.00 item limitation; $13,400.00 total (3)

jewelry

$1,000.00 (d)

$1,700.00 (4)

ANY PROPERTY

$800.00 plus any unused exemption in (a)(e)

$1,325.00 plus up to $12,575.00 of (1)(5)

implements, professional books  or tools of the trade

$1,500.00 (f)

$2,525.00 (6)

unmatured life insurance contract owned by the debtor; DOES NOT INCLUDE credit life insurance

the value of the contract (g)

Value of the contract (7)

The debtor’s interest in any  accrued dividend or interest under, or loan value of, any  unmatured life insurance contract owned by the debtor under  which the insured is the debtor or an individual of whom the  debtor is a dependent

$8,000.00 (h)

Up to $13,400.00 (8)

Professionally prescribed health aids

Value of the health aids (i)

Value of the health aids (9)

A social security benefit, unemployment compensation or a  local public assistance benefit;

Amount of the benefit (j)(1)

Amount of the benefit (10)(A)

A veterans’ benefit;

Amount of the benefit (j)(2)

Amount of the benefit (10)(B)

A disability, illness or unemployment benefit;

Amount of the benefit (j)(3)

Amount of the benefit (10)(C)

Alimony, support or separate maintenance

Amount of the payment* (j)(4)

Amount of the payment* (10)(D)

Payments under a stock bonus, pension, profit sharing,  annuity or similar plan or contract on account of illness, disability, death, age or length of service

Amount of the payment* (j)(5)

Amount of the payment* (10)(E)

An award under a crime victim’s reparation law;

Amount of the award (k)(1)

Amount of the award (11)(A)

Wrongful death payment

Amount of the payment* (k)(2)

Amount of the payment* (11)(B)

Death benefits from life insurance policy

Amount of the proceeds* (k)(3)

Amount of the proceeds* (11)(C)

Personal injury payment

$15,000.00 (k)(4)

$25,150.00 (11)(D)

Lost FUTURE wages

Amount of lost future wages* (k)(5)

Amount of future wages* (11)(E)

Payments to prepaid tuition trust fund

Amount paid to prepaid tuition trust fund (k)(6)

n/a

Individual Retirement Account

$1,362,800.00 (j)(5)(D)

$1,362,800.00 (12)

 

California - July 2021, Dec 2020

  • Deposit Accounts C.C.P. § 704.220 is based on the state Minimum Basic Standard of Adequate Care and is adjusted annually. The current MBSAC floor for a family of four in Region 1 is $1,826.00 – July 2021
  • California also increased its Homestead Exemption - Dec. 2020

Maine - October 2021

General Changes

In general, amounts of the exemptions are increased, as many of the exemption amounts have not changed in decades.  The following chart shows the changes in amounts.

Property

Prior Amount

New Amount

Residence (individual)

$47,500*

$80,000*

Residence (over 60 or disabled)

$95,000*

$160,000

Motor vehicle

$7,500

$10,000

Clothing; furniture; appliances; and similar items

$200

$500

Jewelry

$750**

$1,000**

Tools of the trade

$5,000

$9,500

Life insurance dividends, interest and loan value

$4,000

$5,000

Retirement funds

$1,000,000

$1,054,550

Legal awards (personal bodily injury)

$12,500

$20,000

Other property (sometimes referred to as wildcard)

$400

$500

Unused residence exemption for other exemptions

$6,000

$10,500

Cash; bank account (new)

$0

$3,000

*The residence exemption has certain features that enhance the amount and other conditions, as discussed below.
** The jewelry exemption had a provision that courts have interpreted to allow a wedding and engagement ring in an unlimited amount. The new law attempts to close that loophole by limited the aggregate amount of a wedding and engagement ring to $4,000.

In addition, these amounts are to be indexed to the Consumer Price Index for All Urban Consumers every three years.  In a nod to simplicity, the new law rounds those indexed amounts to the next $50. 

 

https://www.preti.com/publications/maines-exemption-laws-are-changing/

===

Earlier

Georgia 2016

The 2012 Amendment: This amendment increased the amount of exemption for a debtor’s residence from $10,000.00 to $21,500.00 and increased the amount of such exemption from $20,000.00 to $43,000.00 where title to the residence “is in one of two spouses who is a debtor.” O.C.G.A. §44-13-100(a)(1).

The 2013 Amendment: This amendment increased the amount of the exemption available on motor vehicles from $3,500.00 to $5,000.00. O.C.G.A. §44-13-100(a)(3).

The 2015 Amendment: This amendment increased the amount of the basic “wild card” exemption in “any property” from $600.00 to $1,200.00. It also increased the amount by which a debtor may convert (or carry-over) an unused residence exemption to a wild card exemption from $5,000.00 to $10,000.00. O.C.G.A. §44-13-100(a)(6).





Jurisdictional relevance: There are versions of this article for each State.
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