Assembly Bill A1069

2023-2024 Legislative Session

Increases the value of homesteads which are to be exempt from civil judgments

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-A1069 (ACTIVE) - Details

Current Committee:
Assembly Codes
Law Section:
Civil Practice Law and Rules
Laws Affected:
Amd §5206, CPLR
Versions Introduced in 2021-2022 Legislative Session:
A7820

2023-A1069 (ACTIVE) - Summary

Increases the value of homesteads which are exempt from civil judgments from one hundred fifty thousand to two hundred fifty thousand dollars.

2023-A1069 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1069
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 13, 2023
                                ___________
 
 Introduced by M. of A. WALKER -- read once and referred to the Committee
   on Codes
 
 AN  ACT  to  amend  the  civil  practice  law  and rules, in relation to
   increasing the value of homesteads which are to be exempt  from  civil
   judgments
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivisions (a), (d) and (e) of section 5206 of the  civil
 practice  law  and rules, as amended by chapter 568 of the laws of 2010,
 are amended to read as follows:
   (a) Exemption of homestead. Property of one of  the  following  types,
 not  exceeding [one] TWO hundred fifty thousand dollars for the counties
 of Kings, Queens, New York, Bronx, Richmond, Nassau, Suffolk,  Rockland,
 Westchester and Putnam; one hundred twenty-five thousand dollars for the
 counties of Dutchess, Albany, Columbia, Orange, Saratoga and Ulster; and
 seventy-five thousand dollars for the remaining counties of the state in
 value  above  liens  and encumbrances, owned and occupied as a principal
 residence, is exempt from application to the  satisfaction  of  a  money
 judgment,  unless  the  judgment  was  recovered wholly for the purchase
 price thereof:
   1. a lot of land with a dwelling thereon,
   2. shares of stock in a cooperative apartment corporation,
   3. units of a condominium apartment, or
   4. a mobile home.
   But no exempt homestead shall be exempt from taxation or from sale for
 non-payment of taxes or assessments.
   (d) Exemption of homestead exceeding [one] TWO hundred fifty  thousand
 dollars  in  value  for  the counties of Kings, Queens, New York, Bronx,
 Richmond, Nassau, Suffolk, Rockland, Westchester and Putnam; one hundred
 twenty-five thousand dollars  for  the  counties  of  Dutchess,  Albany,
 Columbia, Orange, Saratoga and Ulster; and seventy-five thousand dollars
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04632-01-3
              

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