IL HB5480 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 16 2018 - 25% progression
Action: 2018-04-13 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Code of Civil Procedure. Provides that the debtor's interest, not to exceed $10,000 (instead of $2,400) in value, in any one motor vehicle is exempt from judgment, attachment, or distress for rent. Provides that the debtor's equity interest, not to exceed $7,500 (instead of $1,500) in value, in any implements, professional books, or tools of the trade of the debtor is exempt from judgment, attachment, or distress for rent. Provides that the debtor's equity interest, not to exceed $50,000 (instead of $4,000) in value, in any other property is exempt from judgment, attachment, or distress for rent. Provides that in each checking or savings account held by the debtor, an amount not to exceed $4,000, until: (1) a hearing has been held; and (2) the debtor has been given a reasonable opportunity to indicate to which personal property he or she seeks to apply the exemption for other property, at which time the debtor may protect up to $4,000 of equity in any personal property, and the funds in a checking or savings account will either remain protected or be subject to garnishment. Provides that upon receiving a citation to discover assets, a financial institution shall not freeze the debtor's access or turn over to the judgment creditor the amount in the debtor's account that is $4,000 or less, but shall inform the court and the judgment creditor of the exempt amount. Effective immediately.

Tracking Information

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Title

CIV PRO-DEBTOR PROTECTION

Sponsors


History

DateChamberAction
2018-04-13HouseRule 19(a) / Re-referred to Rules Committee
2018-03-23HouseTo Civil Procedure Subcommittee
2018-03-21HouseAssigned to Judiciary - Civil Committee
2018-03-08HouseChief Sponsor Changed to Rep. Christian L. Mitchell
2018-02-16HouseReferred to Rules Committee
2018-02-16HouseFirst Reading
2018-02-16HouseFiled with the Clerk by Rep. Will Guzzardi

Code Citations

ChapterArticleSectionCitation TypeStatute Text
735512-1001Amended CodeCitation Text

Illinois State Sources


Bill Comments

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