Increases homestead exemption for seniors and disabled in Alabama to $56,400

This bill increases the homestead exemption for seniors and individuals with disabilities in Alabama to $56,400. It also requires the exemption amounts used in bankruptcy cases to be determined as of the filing date of the petition rather than the date of the debt. The bill makes conforming changes and nonsubstantive, technical revisions to update the existing code language to current style.

Increases homestead exemption for seniors and disabled in Alabama to $56,400

This bill increases the homestead exemption for seniors and individuals with disabilities in Alabama to $56,400. It also requires the exemption amounts used in bankruptcy cases to be determined as of the filing date of the petition rather than the date of the debt. The bill makes conforming changes and nonsubstantive, technical revisions to update the existing code language to current style.