Tuesday, October 7, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB39: Homestead exemption; increases for dependents.
Be it enacted by the General Assembly of Virginia:
1. That § 34-4 of the Code of Virginia is amended and reenacted as follows:
§ 34-4. Exemption created.
Every householder shall be entitled, in addition to the
property or estate exempt under §§ 23-38.81, 34-26, 34-27, 34-29, and
64.1-151.3, to hold exempt from creditor process arising out of a debt, real
and personal property, or either, to be selected by the householder, including
money and debts due the householder not exceeding $5,00010,000
in value. In addition, upon a showing that a householder supports dependents,
the householder shall be entitled to hold exempt from creditor process real and
personal property, or either, selected by the householder, including money or
monetary obligations or liabilities due the householder, not exceeding $5001,000
in value for each dependent.
For the purposes of this section, "dependent" means an individual who derives support primarily from the householder and who does not have assets sufficient to support himself, but in no case shall an individual be the dependent of more than one householder.
Additional Data
Explanation
This is the actual text of the bill — the legislation itself. Generally this is amending existing law, proposing the addition or removal of words from laws that are already on the books.
Words that are highlighted in yellow are
proposed additions, and words that are crossed out in
red are proposed removals.
The numbers with the § symbol before them are references to existing laws, and if you click on them they’ll take you to that part of the law on the state's website.