HLS 18RS-1868 ENGROSSED
2018 Regular Session
HOUSE CONCURRENT RESOL UTION NO. 52
BY REPRESENTATIVE FOIL
SEIZURES/SALES: Directs the Louisiana State Law Institute to study exemptions from
seizure of certain retirement accounts
1 A CONCURRENT RESOL UTION
2To authorize and direct the Louisiana State Law Institute to study the exemption of inherited
3 retirement accounts and inherited annuities from liability for any debt except
4 alimony and child support.
5 WHEREAS, R.S. 13:3881(D) provides that pensions, tax-deferred arrangements,
6annuity contracts, and the proceeds thereof are exempt from all liability for any debt except
7alimony and child support; and
8 WHEREAS, in 2014, the United States Supreme Court in the matter of Clark v.
9Rameker held, by drawing distinction between an individual's retirement fund and an
10inherited retirement fund, that funds held in an inherited IRA are not "retirement funds"
11within the meaning of the bankruptcy estate exemption provided by 11 U.S.C.
12ยง522(b)(3)(C); and
13 WHEREAS, Louisiana is an "opt out" state under the United States Bankruptcy Code
14and bankruptcy debtors in Louisiana may therefore take advantage of the exemptions
15provided by both state and federal law; and
16 WHEREAS, relying on the United States Supreme Court's decision in Clark v.
17Rameker, the United States District Court, Eastern District of Louisiana ruled in In re Everett
18that "an inherited IRA is not a 'tax-deferred arrangement' within the meaning of R.S.
1913:3881, and is not exempt from the bankruptcy estate under Louisiana Law"; and
20 WHEREAS, the court's holding in In re Everett as it relates to inherited IRAs could
21potentially be applied to other inherited accounts provided for in R.S. 13:3881(D).
Page 1 of 2 HLS 18RS-1868 ENGROSSED
HCR NO. 52
1 THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby
2authorize and direct the Louisiana State Law Institute to study whether inherited retirement
3funds and other inherited "tax-deferred arrangements" should be generally exempt from
4seizure in Louisiana, and if so, to what extent.
5 BE IT FURTHER RESOLVED that the Legislature of Louisiana does hereby
6authorize and direct the Louisiana State Law Institute to propose any recommended changes
7to R.S. 13:3881(D) to give effect to its findings.
8 BE IT FURTHER RESOLVED that the Legislature of Louisiana does hereby
9authorize and direct the Louisiana State Law Institute to include representatives of the
10Louisiana Bankers Association in its study.
11 BE IT FURTHER RESOLVED that a suitable copy of this Resolution be transmitted
12to the Louisiana State Law Institute.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HCR 52 Engrossed 2018 Regular Session Foil
Directs the La. State Law Institute to study the exemption of inherited retirement accounts
and inherited annuities from liability for any debt except alimony and child support and
propose any recommended changes to present law relative to the exemption of tax-deferred
arrangements from seizure.
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Civil Law and
Procedure to the original bill:
1. Add language describing the United States Supreme Court's action in Clark v.
Rameker.
2. Modify the directive to the La. State Law Institute.
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