BILL WOULD INCREASE OHIO EXEMPTION STATUTE DOLLAR AMOUNTS

Ohio Am. Sub. S.B. No. 281 would increase the exemptions for property that a debtor may hold exempt from execution, garnishment, attachment or sale for the satisfaction of a judgment or order. The bill also contains provisions to automatically adjust the exemption amounts based on changes in the Consumer Price Index.

The increases include an increase in a person’s interest in (i) the person’s residence from $5,000 to $20,200 (ii) a motor vehicle from $1,000 to $3,225, (iii) personal, family and household items and appliances from a variety of specific items and dollar amounts to $525 in any particular item or $10,775 in the aggregate, and (iv) professional books and tools from $750 to $2,025.

The bill passed the Senate by a unanimous vote and is currently being considered by the House of Representatives Judiciary Committee.

Please let us know if you would like a copy of the bill or have any questions.

Elizabeth Anstaett and Darrell Dreher