SB1246 EngrossedLRB100 08879 HEP 19022 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Code of Civil Procedure is amended by
5changing Section 12-1001 as follows:
 
6    (735 ILCS 5/12-1001)   (from Ch. 110, par. 12-1001)
7    Sec. 12-1001. Personal property exempt. The following
8personal property, owned by the debtor, is exempt from
9judgment, attachment, or distress for rent:
10        (a) The necessary wearing apparel, bible, school
11    books, and family pictures of the debtor and the debtor's
12    dependents;
13        (b) The debtor's equity interest, not to exceed $4,000
14    in value, in any other property;
15        (c) The debtor's interest, not to exceed $2,400 in
16    value, in any one motor vehicle;
17        (d) The debtor's equity interest, not to exceed $1,500
18    in value, in any implements, professional books, or tools
19    of the trade of the debtor;
20        (e) Professionally prescribed health aids for the
21    debtor or a dependent of the debtor;
22        (f) All proceeds payable because of the death of the
23    insured and the aggregate net cash value of any or all life

 

 

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1    insurance and endowment policies and annuity contracts
2    payable to a wife or husband of the insured, or to a child,
3    parent, or other person dependent upon the insured, or to a
4    revocable or irrevocable trust which names the wife or
5    husband of the insured or which names a child, parent, or
6    other person dependent upon the insured as the primary
7    beneficiary of the trust, whether the power to change the
8    beneficiary is reserved to the insured or not and whether
9    the insured or the insured's estate is a contingent
10    beneficiary or not;
11        (g) The debtor's right to receive:
12            (1) a social security benefit, unemployment
13        compensation, or public assistance benefit;
14            (2) a veteran's benefit;
15            (3) a disability, illness, or unemployment
16        benefit; and
17            (4) alimony, support, or separate maintenance, to
18        the extent reasonably necessary for the support of the
19        debtor and any dependent of the debtor.
20        (h) The debtor's right to receive, or property that is
21    traceable to:
22            (1) an award under a crime victim's reparation law;
23            (2) a payment on account of the wrongful death of
24        an individual of whom the debtor was a dependent, to
25        the extent reasonably necessary for the support of the
26        debtor;

 

 

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1            (3) a payment under a life insurance contract that
2        insured the life of an individual of whom the debtor
3        was a dependent, to the extent reasonably necessary for
4        the support of the debtor or a dependent of the debtor;
5            (4) a payment, not to exceed $15,000 in value, on
6        account of personal bodily injury of the debtor or an
7        individual of whom the debtor was a dependent; and
8            (5) any restitution payments made to persons
9        pursuant to the federal Civil Liberties Act of 1988 and
10        the Aleutian and Pribilof Island Restitution Act, P.L.
11        100-383.
12        For purposes of this subsection (h), a debtor's right
13    to receive an award or payment shall be exempt for a
14    maximum of 2 years after the debtor's right to receive the
15    award or payment accrues; property traceable to an award or
16    payment shall be exempt for a maximum of 5 years after the
17    award or payment accrues; and an award or payment and
18    property traceable to an award or payment shall be exempt
19    only to the extent of the amount of the award or payment,
20    without interest or appreciation from the date of the award
21    or payment.
22        (i) The debtor's right to receive an award under Part
23    20 of Article II of this Code relating to crime victims'
24    awards.
25        (j) Moneys held in an account invested in the Illinois
26    College Savings Pool of which the debtor is a participant

 

 

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1    or donor and funds invested in an ABLE Account as defined
2    by Section 529 of the Internal Revenue Code, except the
3    following non-exempt contributions:
4            (1) any contribution to such account by the debtor
5        as participant or donor that is made with the actual
6        intent to hinder, delay, or defraud any creditor of the
7        debtor;
8            (2) any contributions to such account by the debtor
9        as participant during the 365 day period prior to the
10        date of filing of the debtor's petition for bankruptcy
11        that, in the aggregate during such period, exceed the
12        amount of the annual gift tax exclusion under Section
13        2503(b) of the Internal Revenue Code of 1986, as
14        amended, in effect at the time of contribution; or
15            (3) any contributions to such account by the debtor
16        as participant during the period commencing 730 days
17        prior to and ending 366 days prior to the date of
18        filing of the debtor's petition for bankruptcy that, in
19        the aggregate during such period, exceed the amount of
20        the annual gift tax exclusion under Section 2503(b) of
21        the Internal Revenue Code of 1986, as amended, in
22        effect at the time of contribution.
23        For purposes of this subsection (j), "account"
24    includes all accounts for a particular designated
25    beneficiary, of which the debtor is a participant or donor.
26    Money due the debtor from the sale of any personal property

 

 

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1that was exempt from judgment, attachment, or distress for rent
2at the time of the sale is exempt from attachment and
3garnishment to the same extent that the property would be
4exempt had the same not been sold by the debtor.
5    If a debtor owns property exempt under this Section and he
6or she purchased that property with the intent of converting
7nonexempt property into exempt property or in fraud of his or
8her creditors, that property shall not be exempt from judgment,
9attachment, or distress for rent. Property acquired within 6
10months of the filing of the petition for bankruptcy shall be
11presumed to have been acquired in contemplation of bankruptcy.
12    The personal property exemptions set forth in this Section
13shall apply only to individuals and only to personal property
14that is used for personal rather than business purposes. The
15personal property exemptions set forth in this Section shall
16not apply to or be allowed against any money, salary, or wages
17due or to become due to the debtor that are required to be
18withheld in a wage deduction proceeding under Part 8 of this
19Article XII.
20(Source: P.A. 97-1030, eff. 8-17-12.)