2004 House Bill 5763 / Public Act 575

Bankruptcy property seizure exemption

Introduced in the House

April 1, 2004

Introduced by Rep. Alexander Lipsey (D-60)

To update the law that exempts certain types of specified property from seizure and sale because of bankruptcy or unpaid debts. The bill updates an existing law to reflect modern standards and values. It indexes to inflation the specified dollar values of certain exempt property.

Referred to the Committee on Judiciary

May 20, 2004

Reported without amendment

With the recommendation that the substitute (H-2) be adopted and that the bill then pass.

May 27, 2004

Substitute offered

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

The substitute passed by voice vote

Passed in the House 106 to 0 (details)

Received in the Senate

June 1, 2004

Referred to the Committee on Judiciary

Sept. 29, 2004

Reported without amendment

With the recommendation that the amendments be adopted and that the bill then pass.

Sept. 30, 2004

Amendment offered

To clarify certain technical definitions in the bill.

The amendment passed by voice vote

Oct. 5, 2004

Passed in the Senate 36 to 0 (details)

To update the law that exempts certain types of specified property from seizure and sale because of bankruptcy or unpaid debts. The bill updates an existing law to reflect modern standards and values. It indexes to inflation the specified dollar values of certain exempt property.

Received in the House

Nov. 4, 2004

Dec. 7, 2004

Amendment offered by Rep. Alexander Lipsey (D-60)

To clarify a definitiion by referencing a definition contained in another statute.

The amendment passed by voice vote

Passed in the House 106 to 0 (details)

To concur with the Senate-passed version of the bill, after adding one technical amendment.

Received in the Senate

Dec. 8, 2004

Dec. 9, 2004

Passed in the Senate 34 to 0 (details)

To concur with the Senate-passed version of the bill.

Signed by Gov. Jennifer Granholm

Dec. 30, 2004