Adjusts homestead and motor vehicle exemptions, indexing the homestead exemption for housing value changes, and limits bankruptcy exemptions.

This bill amends the civil practice law and rules and the debtor and creditor law to adjust the homestead and motor vehicle exemptions. It sets the homestead exemption amount based on county, with higher amounts for certain counties. The bill also increases the motor vehicle exemption and limits the homestead exemption available to bankruptcy debtors to one exemption per household. Additionally, it increases the motor vehicle exemption available in bankruptcy proceedings. The homestead exemption is indexed for housing value changes based on the consumer price index.

Adjusts homestead and motor vehicle exemptions, indexing the homestead exemption for housing value changes, and limits bankruptcy exemptions.

This bill amends the civil practice law and rules and the debtor and creditor law to adjust the homestead and motor vehicle exemptions. It sets the homestead exemption amount based on county, with higher amounts for certain counties. The bill also increases the motor vehicle exemption and limits the homestead exemption available to bankruptcy debtors to one exemption per household. Additionally, it increases the motor vehicle exemption available in bankruptcy proceedings. The homestead exemption is indexed for housing value changes based on the consumer price index.