New York S08109 amends homestead and motor vehicle exemption laws, indexing the homestead exemption and increasing motor vehicle exemptions.

New York S08109 amends the civil practice law and rules and the debtor and creditor law. It adjusts the homestead exemption amount based on housing value changes and increases the motor vehicle exemption. The bill limits bankruptcy debtors to one homestead exemption per household and raises the motor vehicle exemption available in bankruptcy. The homestead exemption varies by county, with higher amounts in more populous areas. The motor vehicle exemption is increased to $10,000, or $25,000 if equipped for a disabled debtor, excluding certain debts.

New York S08109 amends homestead and motor vehicle exemption laws, indexing the homestead exemption and increasing motor vehicle exemptions.

New York S08109 amends the civil practice law and rules and the debtor and creditor law. It adjusts the homestead exemption amount based on housing value changes and increases the motor vehicle exemption. The bill limits bankruptcy debtors to one homestead exemption per household and raises the motor vehicle exemption available in bankruptcy. The homestead exemption varies by county, with higher amounts in more populous areas. The motor vehicle exemption is increased to $10,000, or $25,000 if equipped for a disabled debtor, excluding certain debts.