SENATE BILL REPORT

                                    SB 5848

                      AS PASSED SENATE, JANUARY 27, 1992

Brief Description:  Increasing the homestead exemption.

SPONSORS:Senators Rasmussen and L. Smith.

SENATE COMMITTEE ON LAW & JUSTICE

Majority Report:  Do pass.

      Signed by Senators Nelson, Chairman; Erwin, Hayner, L. Kreidler, Madsen, Rasmussen, and A. Smith. 

Staff:  Ben Barnes (786‑7465)

Hearing Dates:March 5, 1991; March 6, 1991

BACKGROUND:

The Homestead Act protects a homestead from attachment and from forced sale for the debts of the owner up to $30,000 or the total value of the lands, mobile home, and improvements, whichever is less.

It is recommended that the homestead exemption amount be increased to $35,000.

SUMMARY:

The homestead exemption amount is increased to $35,000.

Appropriation:  none

Revenue:  none

Fiscal Note:  available

TESTIMONY FOR:  None

TESTIMONY AGAINST:  None

TESTIFIED:  No one