Minnesota Senate Bill SF3137

Minnesota 2023-2024 Regular Session

• Introduced: 3/27/23
• Refer: 3/27/23

Caption

Property types that cannot be attached, garnished, or sold in a final judgement expansion

Impact

If enacted, this bill would have a significant impact on the laws governing debtor and creditor relations in Minnesota. By expanding the list of exempt properties, such as household tools and vehicles designed for the physical assistance of disabled individuals, the legislation seeks to provide greater financial security for vulnerable populations. The changes indicate an intent to ensure that individuals facing financial difficulties can retain essential goods that contribute to their livelihood and well-being.

Summary

SF3137 proposes amendments to Minnesota Statutes related to civil actions, specifically expanding the types of property that cannot be attached, garnished, or sold in a final judgment. The bill aims to strengthen protections for debtors by broadening the exemptions available to them regarding personal property and various forms of financial assistance. The specific changes include alterations to existing exemptions and the introduction of new categories of property that debtors can claim as exempt from creditor claims.

Contention

Notably, SF3137 may generate contention among creditor advocates and debtor support groups. Critics may argue that increasing exemption limits can hinder creditors' ability to recover debts, potentially leading to financial losses for businesses and lending institutions. Conversely, proponents of the bill argue it addresses the pressing needs of low-income families and individuals, allowing them to avoid destitution when faced with legal judgments. The debate around the balance of rights for debtors and creditors will likely be a central theme in the legislative discussions surrounding this bill.