VirginiaGarnishments; automatic exemption, accounts with depository institution.
What it does
Poor debtor's exemption; depository institution account exemption. Allows a householder to hold exempt from creditor process up to $500 held in a depository institution. The bill provides that a depository institution shall, upon receipt of an order of garnishment, attachment, or other levy, answer such order and, if the householder maintains a deposit account or accounts with such depository institution, state that (i) the total amount in such account or accounts does not exceed $500 or (ii) the total amount in such account or accounts does exceed $500 and that the amount of funds in excess of $500 is being held by such institution pending further order of the court.
More detail
The bill further provides that, beginning on April 1, 2027, any increases in exempt amounts shall be adjusted at three-year intervals to reflect the change in the Consumer Price Index for all urban consumers (CPI-U), as published by the Bureau of Labor Statistics of the U.S. Department of Labor. The bill provides that such adjustments shall be calculated by the Department of Planning and Budget.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Feb 18Left in Courts of JusticeLatest
- Feb 11Fiscal Impact Statement from Department of Planning and Budget (HB1864)
- Jan 31Referred to Committee for Courts of JusticeMinor
- Jan 31Constitutional reading dispensed (on 1st reading)
- Jan 30Read third time and passed House (91-Y 5-N)Passed House
- Vote recorded Read third time and passed House (91-Y 5-N). Result: pass.Lower
- Jan 29Engrossed by House - committee substituteMajor
- Jan 29Courts of Justice Substitute agreed to
- Jan 29Read second timeMinor
- Jan 28Read first timeMinor
- Jan 24Committee substitute printed 25105683D-H1Major
- Vote recorded Reported from Courts of Justice with substitute (21-Y 1-N). Result: pass.Lower
- Jan 24Reported from Courts of Justice with substitute (21-Y 1-N)Minor
- Jan 22Subcommittee recommends reporting with substitute (8-Y 0-N)Major
- Vote recorded Subcommittee recommends reporting with substitute (8-Y 0-N). Result: pass.Lower
- Jan 19Fiscal Impact Statement from State Corporation Commission (HB1864)
- Jan 17Assigned Courts sub: CivilMinor
- Jan 6Referred to Committee for Courts of JusticeMinor
- Jan 6Prefiled and ordered printed; Offered 01-13-2025 25102122DIntroduced