Increases homestead exemption limits and modifies procedures for enforcing judgments in Illinois.
SB1501 amends the Illinois Code of Civil Procedure to increase the homestead exemption for individuals from $15,000 to $100,000 and for joint owners from $30,000 to $200,000. It modifies procedures for enforcing judgments, including citation proceedings to discover assets, garnishment exemptions, and the sale of homesteads. The bill also exempts wages electronically deposited into a judgment debtor's account for 30 days and outlines the rights of judgment debtors to declare exemptions and the responsibilities of judgment creditors.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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