Connecticut 2022 Regular Session

Connecticut House Bill HB05464 Compare Versions

Version 1 (Old)

Version 2 (New)

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7	6		General Assembly Raised Bill No. 5464
8	7		February Session, 2022
9	8		LCO No. 3227
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12	11		Referred to Committee on JUDICIARY
13	12
14	13
15	14		Introduced by:
16	15		(JUD)
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20	20		AN ACT CONCERNING THE VALUE OF THE HOMESTEAD
21	21		EXEMPTION.
22	22		Be it enacted by the Senate and House of Representatives in General
23	23		Assembly convened:
24	24
25	25		Section 1. Section 52-352b of the 2022 supplement to the general 1
26	26		statutes is repealed and the following is substituted in lieu thereof 2
27	27		(Effective from passage): 3
28	28		The following property of any natural person shall be exempt: 4
29	29		(1) Necessary apparel, bedding, foodstuffs, household furniture and 5
30	30		appliances; 6
31	31		(2) Tools, books, instruments, farm animals and livestock feed, which 7
32	32		are necessary to the exemptioner in the course of his or her occupation, 8
33	33		profession or farming operation; 9
34	34		(3) Burial plot for the exemptioner and his or her immediate family; 10
35	35		(4) Public assistance payments and any wages earned by a public 11
36	36		assistance recipient under an incentive earnings or similar program; 12 Raised Bill No. 5464
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43	42		(5) Health and disability insurance payments; 13
44	43		(6) Health aids necessary to enable the exemptioner to work or to 14
45	44		sustain health; 15
46	45		(7) Workers' compensation, Social Security, veterans and 16
47	46		unemployment benefits; 17
48	47		(8) Court-approved payments for child support; 18
49	48		(9) Arms and military equipment, uniforms or musical instruments 19
50	49		owned by any member of the militia or armed forces of the United 20
51	50		States; 21
52	51		(10) Up to two motor vehicles to the value of seven thousand dollars 22
53	52		in the aggregate, provided value shall be determined as the fair market 23
54	53		value of the motor vehicles less the amount of all liens and security 24
55	54		interests which encumber them; 25
56	55		(11) Wedding and engagement rings; 26
57	56		(12) Residential utility deposits for one residence, and one residential 27
58	57		security deposit; 28
59	58		(13) Any assets or interests of an exemptioner in, or payments 29
60	59		received by the exemptioner from, a plan or arrangement described in 30
61	60		section 52-321a; 31
62	61		(14) Alimony and support, other than child support, but only to the 32
63	62		extent that wages are exempt from execution under section 52-361a; 33
64	63		(15) An award under a crime reparations act; 34
65	64		(16) All benefits allowed by any association of persons in this state 35
66	65		towards the support of any of its members incapacitated by sickness or 36
67	66		infirmity from attending to his usual business; 37
68		-	(17) All moneys due the exemptioner from any insurance company 38 Raised Bill No. 5464
	67	+	(17) All moneys due the exemptioner from any insurance company 38
	68	+	on any insurance policy issued on exempt property, to the same extent 39 Raised Bill No. 5464
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75		-	on any insurance policy issued on exempt property, to the same extent 39
	72	+	LCO No. 3227 3 of 4
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76	74		that the property was exempt; 40
77	75		(18) Any interest of the exemptioner in any property not to exceed in 41
78	76		value one thousand dollars; 42
79	77		(19) Any interest of the exemptioner not to exceed in value four 43
80	78		thousand dollars in any accrued dividend or interest under, or loan 44
81	79		value of, any unmatured life insurance contract owned by the 45
82	80		exemptioner under which the insured is the exemptioner or an 46
83	81		individual of whom the exemptioner is a dependent; 47
84	82		(20) The cash surrender value of any life insurance policy issued upon 48
85	83		the life of a citizen or resident of this state, unless the life insurance 49
86	84		policy was assigned to or was effected for the benefit of the creditor or 50
87	85		unless the purchase, sale, or transfer of the life insurance policy is made 51
88	86		with the intent to defraud the creditor; 52
89	87		(21) The homestead of the exemptioner to the value of (A) on and 53
90	88		before September 30, 2021, seventy-five thousand dollars, or, in the case 54
91	89		of a money judgment arising out of services provided a hospital, to the 55
92	90		value of one hundred twenty-five thousand dollars, and (B) on and after 56
93	91		October 1, 2021, two hundred fifty thousand dollars, provided value 57
94	92		shall be determined as the fair market value of the real property less the 58
95	93		amount of any statutory or consensual lien which encumbers it, except 59
96	94		that, in the case of a money judgment arising out of a claim of sexual 60
97	95		abuse or exploitation of a minor, sexual assault or other wilful, wanton, 61
98	96		or reckless misconduct committed by a natural person, to the value of 62
99	97		seventy-five thousand dollars; and 63
100	98		(22) Irrevocable transfers of money to an account held by a debt 64
101	99		adjuster licensed pursuant to sections 36a-655 to 36a-665, inclusive, for 65
102	100		the benefit of creditors of the exemptioner. 66
103	101		This act shall take effect as follows and shall amend the following
104	102		sections:
	103	+
	104	+	Section 1 from passage 52-352b
105	105		Raised Bill No. 5464
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112		-	~~Section 1 from passage 52-352b~~
	109	+	LCO No. 3227 4 of 4
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114		-	JUD Joint Favorable
	111	+	Statement of Purpose:
	112	+	To clarify the value of the homestead exemption as set forth in section
	113	+	52-352b of the general statutes, as amended by public act 21-161.
	114	+	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
	115	+	that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
	116	+	underlined.]
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