Minnesota HF3188 modifies garnishment and bankruptcy exemptions, exempting up to $1,000 in a debtor's depository accounts from garnishment.

Minnesota HF3188 amends state statutes to modify exemptions for garnishment and bankruptcy. It adds a new subdivision to exempt up to $1,000 in one or more depository accounts held in a financial institution from garnishment. The exemption applies regardless of the money's source and is in addition to other exemptions. The bill also outlines procedures for debtors to claim exemptions and for financial institutions to handle garnishment summonses. Effective August 1, 2025, this change applies to causes of action commenced on or after that date.

Minnesota HF3188 modifies garnishment and bankruptcy exemptions, exempting up to $1,000 in a debtor's depository accounts from garnishment.

Minnesota HF3188 amends state statutes to modify exemptions for garnishment and bankruptcy. It adds a new subdivision to exempt up to $1,000 in one or more depository accounts held in a financial institution from garnishment. The exemption applies regardless of the money's source and is in addition to other exemptions. The bill also outlines procedures for debtors to claim exemptions and for financial institutions to handle garnishment summonses. Effective August 1, 2025, this change applies to causes of action commenced on or after that date.