Bill S1198-2011

Relates to increasing property values which are exempt from the satisfaction of a money judgement

Relates to increasing property values which are exempt from the satisfaction of a money judgement and increases the exemptions in bankruptcy.

Details

Actions

  • Jan 19, 2011: SUBSTITUTED BY A851
  • Jan 18, 2011: ORDERED TO THIRD READING CAL.1
  • Jan 18, 2011: REPORTED AND COMMITTED TO RULES
  • Jan 5, 2011: REFERRED TO FINANCE

Meetings

Calendars

Votes

VOTE: COMMITTEE VOTE: - Rules - Jan 18, 2011
Ayes (16): Skelos, Libous, Alesi, Farley, Hannon, Johnson, Larkin, LaValle, Marcellino, Maziarz, Nozzolio, Saland, Seward, Sampson, Breslin, Stewart-Cousins
Ayes W/R (3): Duane, Montgomery, Smith
Nays (5): Dilan, Hassell-Thompson, Krueger, Parker, Perkins

Memo

 BILL NUMBER:  S1198

TITLE OF BILL : An act to amend the civil practice law and rules, in relation to increasing the property values which are exempt from the satisfaction of a money judgment

PURPOSE OF BILL : This bill will serve as a chapter amendment to Chapter 568 of the Laws of 2010.

SUMMARY OF PROVISIONS OF BILL : Section 1 amends paragraph 8 of subdivision (a) of section 5205 of the civil practice law and rules to include an exception to the money judgment exemption regarding motor vehicles for a judgment creditor where such creditor is the state of New York, its agency or any municipal corporation.

LEGISLATIVE HISTORY : Chapter amendment to Chapter 568 of the Laws of 2010.

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS : Undetermined.

EFFECTIVE DATE : This act shall take effect on the same date and in the same manner as Chapter 568 of the Laws of 2010 amending the civil practice law and rules relating to increasing the property values which are exempt from the satisfaction of a money judgment.

Text

STATE OF NEW YORK ________________________________________________________________________ 1198 2011-2012 Regular Sessions IN SENATE January 5, 2011 ___________
Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the civil practice law and rules, in relation to increasing the property values which are exempt from the satisfaction of a money judgment THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 8 of subdivision (a) of section 5205 of the civil practice law and rules, as amended by chapter 568 of the laws of 2010, is amended to read as follows: 8. one motor vehicle not exceeding four thousand dollars in value above liens and encumbrances of the debtor; if such vehicle has been equipped for use by a disabled debtor, then ten thousand dollars in value above liens and encumbrances of the debtor; provided, however, that this exemption for one motor vehicle shall not apply if the debt enforced is for child support, spousal support, maintenance, alimony or equitable distribution, OR IF THE STATE OF NEW YORK OR ANY OF ITS AGEN- CIES OR ANY MUNICIPAL CORPORATION IS THE JUDGMENT CREDITOR; and S 2. This act shall take effect on the same date and in the same manner as chapter 568 of the laws of 2010 takes effect.

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