Bill Text: CA AB2767 | 2009-2010 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Civil law: omnibus bill.

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Passed) 2010-08-27 - Chaptered by Secretary of State - Chapter 212, Statutes of 2010. [AB2767 Detail]

Download: California-2009-AB2767-Introduced.html

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BILL NUMBER: AB 2767	INTRODUCED
	BILL TEXT


INTRODUCED BY   Committee on Judiciary

                        FEBRUARY 26, 2010

   An act to amend Section 703.150 of the Code of Civil Procedure,
relating to homestead exemptions.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2767, as introduced, Committee on Judiciary. Homestead
exemptions: Judicial Council.
   Existing law provides that a specified portion of equity in a
homestead, as defined, is exempt from execution to satisfy a judgment
debt. Existing law provides a base exemption of $75,000, an
exemption of $100,000 if the judgment debtor or his or her spouse who
resides in the homestead is, at the time of the sale, a member of a
family unit, and one member of the family unit is without an
interest, or with only a limited interest, as specified, in the
homestead, and an exemption of $175,000 if the judgment debtor or the
spouse of the judgment debtor who resides in the homestead is, at
the time of the sale, 65 years of age or older, disabled, or 55 years
of age or older with a limited income, as specified.
   Existing law requires the Judicial Council, on or before April 1,
2010, and at each 3-year interval ending on April 1 thereafter, to
submit to the Legislature the amount by which the dollar amounts of
the homestead exemptions described above may be increased based on
the change in the annual California Consumer Price Index for All
Urban Consumers, and to publish a list of the current dollar amounts
of those exemptions, as specified.
   This bill, instead, would require the Judicial Council to submit
to the Legislature the increased dollar amounts for the homestead
exemption commencing April 1, 2013.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 703.150 of the Code of Civil Procedure is
amended to read:
   703.150.  (a) On April 1, 2004, and at each three-year interval
ending on April 1 thereafter, the dollar amounts of exemptions
provided in subdivision (b) of Section 703.140 in effect immediately
before that date shall be adjusted as provided in subdivision (d).
   (b) On April 1, 2007, and at each three-year interval ending on
April 1 thereafter, the dollar amounts of exemptions provided in
Article 3 (commencing with Section 704.010) in effect immediately
before that date shall be adjusted as provided in subdivision (d).
   (c) On April 1,  2010   2013  , and at
each three-year interval ending on April 1 thereafter, the Judicial
Council shall submit to the Legislature the amount by which the
dollar amounts of exemptions provided in subdivision (a) of Section
704.730 in effect immediately before that date may be increased as
provided in subdivision (d). Those increases shall not take effect
unless they are approved by the Legislature.
   (d) The Judicial Council shall determine the amount of the
adjustment based on the change in the annual California Consumer
Price Index for All Urban Consumers, published by the Department of
Industrial Relations, Division of Labor Statistics, for the most
recent three-year period ending on December 31 preceding the
adjustment, with each adjusted amount rounded to the nearest
twenty-five dollars ($25).
   (e) Beginning April 1, 2004, the Judicial Council shall publish a
list of the current dollar amounts of exemptions provided in
subdivision (b) of Section 703.140 and in Article 3 (commencing with
Section 704.010), together with the date of the next scheduled
adjustment. In any year that the Legislature votes to increase the
exemptions provided in subdivision (a) of Section 704.730, the
Judicial Council shall publish a list of current dollar amounts of
exemptions.
   (f) Adjustments made under subdivision (a) do not apply with
respect to cases commenced before the date of the adjustment, subject
to any contrary rule applicable under the federal Bankruptcy Code.
The applicability of adjustments made under subdivisions (b) and (c)
is governed by Section 703.050.