Bill Text: MO HB1578 | 2014 | Regular Session | Introduced

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Bill Title: Establishes the Seniors' Retirement Protection Act which specifies that up to $125,000 of the value of the primary residence of a person who is 62 years or older will be exempt from attachment or execution

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2014-02-05 - Referred: Financial Institutions(H) [HB1578 Detail]

Download: Missouri-2014-HB1578-Introduced.html

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SECOND REGULAR SESSION

HOUSE BILL NO. 1578

97TH GENERAL ASSEMBLY

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INTRODUCED BY REPRESENTATIVES SOLON (Sponsor), BRATTIN, HINSON, ELLINGER, BERRY, REDMON, GANNON AND WIELAND (Co-sponsors).

5358H.01I                                                                                                                                                  D. ADAM CRUMBLISS, Chief Clerk

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AN ACT

To amend chapter 513, RSMo, by adding thereto one new section relating to the seniors’ retirement protection act.

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Be it enacted by the General Assembly of the state of Missouri, as follows:

            Section A. Chapter 513, RSMo, is amended by adding thereto one new section, to be known as section 513.432, to read as follows:

            513.432. 1. This section shall be known and may be cited as the "Seniors’ Retirement Protection Act".

            2. Notwithstanding any other provision of law to the contrary, any person age sixty-two years of age or older, together with his or her spouse if applicable, owning a home which is such person's primary residence, shall have exempt from attachment or execution the home's value up to one hundred twenty-five thousand dollars. If more than one home owner claims an exemption under this section, the exemption allowed in the aggregate shall not exceed the total exemption allowed under this section.

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