Bill Text: CA SB832 | 2019-2020 | Regular Session | Amended


Bill Title: Debtor exemptions: homestead exemption.

Spectrum: Partisan Bill (? 1-0)

Status: (Engrossed) 2020-06-18 - Read third time. Passed. (Ayes 29. Noes 11. Page 3742.) Ordered to the Assembly. [SB832 Detail]

Download: California-2019-SB832-Amended.html

Amended  IN  Assembly  August 28, 2020
Amended  IN  Assembly  August 27, 2020

CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Senate Bill
No. 832


Introduced by Committee on Budget and Fiscal Review

January 10, 2020


An act to amend Section 704.730 of the Code of Civil Procedure, relating to enforcement of judgments, and making an appropriation therefor, to take effect immediately, bill related to the budget. judgments.


LEGISLATIVE COUNSEL'S DIGEST


SB 832, as amended, Committee on Budget and Fiscal Review. Debtor exemptions: homestead exemption.
Existing law provides that a specified portion of equity in a homestead, as defined, is exempt from execution to satisfy a judgment debt and prescribes that the amount of the homestead exemption is either $75,000, $100,000, or $175,000, depending on certain characteristics of the homestead’s residents.
This bill would instead make the homestead exemption the greater of $300,000 or the countywide median sale price of a single-family home in the calendar year prior to the calendar year in which the judgment debtor claims the exemption, not to exceed $600,000. These amounts would adjust annually for inflation.

The bill would appropriate $50,000 from the General Fund to the Judicial Council in support of the Equal Access Fund Program.

This bill would declare that it is to take effect immediately as a bill providing for appropriations related to the Budget Bill.

Vote: MAJORITY   Appropriation: YESNO   Fiscal Committee: YESNO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 704.730 of the Code of Civil Procedure is amended to read:

704.730.
 (a) The amount of the homestead exemption is the greater of the following:
(1) The countywide median sale price for a single-family home in the calendar year prior to the calendar year in which the judgment debtor claims the exemption, not to exceed six hundred thousand dollars ($600,000).
(2) Three hundred thousand dollars ($300,000).
(b) The amounts specified in this section shall adjust annually for inflation, beginning on January 1, 2022, based on the change in the annual California Consumer Price Index for All Urban Consumers, Consumers for the prior fiscal year, published by the Department of Industrial Relations.

SEC. 2.

The sum of fifty thousand dollars ($50,000) is hereby appropriated from the General Fund to the Judicial Council in support of the Equal Access Fund Program.

SEC. 3.

This act is a bill providing for appropriations related to the Budget Bill within the meaning of subdivision (e) of Section 12 of Article IV of the California Constitution, has been identified as related to the budget in the Budget Bill, and shall take effect immediately.

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