Pennsylvania HB1631 amends bankruptcy exemption laws to allow filers to choose between federal and state exemptions.

Pennsylvania HB1631 amends Title 42 of the Pennsylvania Consolidated Statutes to provide for bankruptcy exemptions. Filers in bankruptcy proceedings can choose between federal exemptions or state-specific exemptions, including up to $650,000 in equity for a primary residence, health aids, Social Security benefits, and various other benefits and payments. The bill also adjusts certain exemption amounts based on the Consumer Price Index.

Pennsylvania HB1631 amends bankruptcy exemption laws to allow filers to choose between federal and state exemptions.

Pennsylvania HB1631 amends Title 42 of the Pennsylvania Consolidated Statutes to provide for bankruptcy exemptions. Filers in bankruptcy proceedings can choose between federal exemptions or state-specific exemptions, including up to $650,000 in equity for a primary residence, health aids, Social Security benefits, and various other benefits and payments. The bill also adjusts certain exemption amounts based on the Consumer Price Index.