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S1399................................................by JUDICIARY AND RULES
HOMESTEAD EXEMPTION - Amends existing law relating to homesteads to
increase the maximum permitted homestead exemption amount.
02/14 Senate intro - 1st rdg - to printing
02/15 Rpt prt - to Jud
02/21 Rpt out - rec d/p - to 2nd rdg
02/22 2nd rdg - to 3rd rdg
02/24 3rd rdg - PASSED - 35-0-0
AYES -- Andreason, Brandt(Harper), Broadsword, Bunderson, Burkett,
Burtenshaw, Cameron, Coiner, Compton, Corder, Darrington, Davis,
Fulcher, Gannon, Geddes, Goedde, Hill, Jorgenson, Kelly, Keough,
Langhorst, Little, Lodge, Malepeai, Marley, McGee, McKenzie, Pearce,
Richardson, Schroeder, Stegner, Stennett, Sweet, Werk, Williams
NAYS -- None
Absent and excused -- None
Floor Sponsors - Keough & Davis
Title apvd - to House
02/27 House intro - 1st rdg - to Jud
03/10 Rpt out - rec d/p - to 2nd rdg
03/13 2nd rdg - to 3rd rdg
03/23 3rd rdg - PASSED - 68-0-2
AYES -- Anderson, Andrus, Barraclough, Barrett, Bastian, Bayer,
Bedke, Bell, Bilbao, Black, Block, Boe, Bolz, Brackett, Bradford,
Cannon, Chadderdon, Clark, Collins, Crow, Deal, Denney, Edmunson,
Ellsworth, Eskridge, Field(18), Field(23), Garrett, Hart, Harwood,
Henbest, Henderson, Jaquet, Kemp, LeFavour, Loertscher, Martinez,
Mathews, McGeachin, McKague, Miller, Mitchell, Moyle, Nielsen,
Nonini, Pasley-Stuart, Pence, Raybould, Ring, Ringo, Roberts, Rusche,
Rydalch, Sayler, Schaefer, Shepherd(2), Shepherd(8), Shirley,
Skippen, Smith(30), Smith(24), Smylie, Snodgrass, Stevenson, Trail,
Wills, Wood, Mr. Speaker
NAYS -- None
Absent and excused -- Lake, Sali
Floor Sponsor - Clark
Title apvd - to Senate
03/24 To enrol
03/27 Rpt enrol - Pres signed
03/28 Sp signed
03/29 To Governor
03/30 Governor signed
Session Law Chapter 262
Effective: 03/30/06
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-eighth Legislature Second Regular Session - 2006
IN THE SENATE
SENATE BILL NO. 1399
BY JUDICIARY AND RULES COMMITTEE
1 AN ACT
2 RELATING TO HOMESTEADS; AMENDING SECTION 55-1003, IDAHO CODE, TO INCREASE THE
3 MAXIMUM PERMITTED HOMESTEAD EXEMPTION AMOUNT; AND DECLARING AN EMERGENCY.
4 Be It Enacted by the Legislature of the State of Idaho:
5 SECTION 1. That Section 55-1003, Idaho Code, be, and the same is hereby
6 amended to read as follows:
7 55-1003. HOMESTEAD EXEMPTION LIMITED. A homestead may consist of lands,
8 as described in section 55-1001, Idaho Code, regardless of area, but the home-
9 stead exemption amount shall not exceed the lesser of (i) the total net value
10 of the lands, mobile home, and improvements as described in section 55-1001,
11 Idaho Code; or (ii) the sum of fifty one hundred thousand dollars
12 ($50100,000).
13 SECTION 2. An emergency existing therefor, which emergency is hereby
14 declared to exist, this act shall be in full force and effect on and after its
15 passage and approval.
STATEMENT OF PURPOSE
RS 15890C1
The purpose of this legislation is to adjust the limitation
on the homestead exemption allowed in collections and bankruptcy
proceedings.
This bill raises the exemption from $50,000.00 to
$100,000.00.
This homestead exemption has not been adjusted since 1992.
FISCAL NOTE
There is no fiscal impact on the state general fund.
Contact
Name: Senator Shawn Keough
Senator Bart Davis
Phone: 208-332-1000
STATEMENT OF PURPOSE/FISCAL NOTE S 1399