← All Illinois bills

SB1501Introduced in the Senate

HOMESTEAD EXEMPTION INCREASE

IntroducedSenate Assignments

Introduced by Michael Halpin, District 36

What does this bill do?

Plain-English breakdown

Writing a plain-English summary of this bill… this can take a few seconds the first time.

Official description

Amends the Code of Civil Procedure. Exempts from garnishment for a period of 30 calendar days wages electronically deposited directly into a judgment debtor's checking or savings account in a financial institution. Increases the amount that every individual is entitled to for the individual's estate of homestead from $15,000 to $100,000 if the property is owned by a single individual, and from $30,000 to $200,000 if the property is owned by 2 or more individuals. Makes conforming changes in provisions regarding: the validity of a release, waiver, or conveyance of a property; the proceeds of a sale; bids for less than the exempted amount; proceedings to enforce a judgment; notice to judgment debtors; and the sale of premises and distribution of proceeds. Increases the exemptions for: other personal property from $4,000 to $27,000; a motor vehicle from $2,400 to $16,000; tools of the trade of the debtor from $1,500 to 10,000; and personal injury from $15,000 to $100,000. Makes conforming changes.

Where it stands

Rule 3-9(a) / Re-referred to Assignments

March 21, 2025

How did lawmakers vote?

No recorded vote is available for this bill yet.

What do people think?

Citizen Voice

How would you vote on this bill?

An unofficial public opinion poll. It does not affect the bill or the official vote.

One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.

Bill history

  1. Filed with Secretary by Sen. Michael W. Halpin

  2. First Reading

  3. Referred to Assignments

  4. Assigned to Judiciary

  5. Rule 3-9(a) / Re-referred to Assignments

Verify the information

Our commitment to neutrality

We provide factual information only. We never tell you which politicians or bills to support, and we do not rank, score, or endorse anyone.