Assigned to JUD FOR
COMMITTEE
Assigned to JUD FOR
COMMITTEE
ARIZONA STATE SENATE
Fifty-Third Legislature, Second Regular Session
bankruptcy exemption; personal property
Purpose
Exempts all firearms of no more than an aggregate fair market value of $2,000 from specified actions to collect a debt. Increases caps on exemptions for specified personal property items and adds exemptions for pets and motorized mobility devices.
Background
A.R.S. Title 33, Chapter 8, Article 2 outlines personal property exemptions from the bankruptcy process and other actions to collect from a debtor. Personal items that are exempt include the following, if used primarily for personal, family or household purposes: 1) a typewriter, computer, bicycle, sewing machine, bible or burial ground lot, one shotgun, one rifle or one pistol, not more than $1,000; 2) equity in one motor vehicle, not more than $6,000 or $12,000 if the debtor has a disability; 3) domestic pets, horses, milk cows and poultry, not more than $800; 4) professionally prescribed prostheses, including a wheelchair; 5) engagement and wedding rings, not more than $2,000; 6) wearing apparel, not more than $500; 7) musical instruments, not more than $400; 8) a library collection, not more than $250; and 9) a watch, not more than $150 (A.R.S. § 33-1125).
There is no anticipated fiscal impact to the state General Fund associated with this legislation.
Provisions
1. Expands the personal property exemption to include:
a) all firearms with an aggregate fair market value of $2,000 or less;
b) all domestic animals or household pets; and
c) professionally-prescribed motorized mobility devices.
2. Increases, from $800 to $1,000, the limit on the exemption for:
a) horses;
b) milk cows; and
c) poultry.
3. Increases, from $150 to $250, the limit on the exemption for watches.
4. Increases, from $1,000 to $2,000, the aggregate limit on the exemption for:
a) typewriters;
b) computers;
c) bicycles;
d) sewing machines;
e) family bibles; or
f) a lot in a burial ground.
5. Makes technical and conforming changes.
6. Becomes effective on the general effective date.
House Action
FPRPP 2/6/18 DPA 6-2-0-1
3rd Read 2/20/18 34-25-1
Prepared by Senate Research
March 20, 2018
JA/VR/lat