LB871

Nebraska LB871 increases exemptions from judicial enforcement and adjusts homestead and exempt property allowances for inflation.

Nebraska LB871 amends several statutes to increase the amounts exempt from levy, execution, judgment, operation of law, garnishment, and other judicial enforcement. It also increases the homestead and exempt property allowances. The bill mandates the Department of Revenue to adjust these dollar limitations every fifth year starting July 1, 2030, based on the Consumer Price Index for All Urban Consumers. The adjustments are rounded to the nearest hundred-dollar amount. The bill repeals the original sections it amends.