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| Public Act 100-0922 | ||||
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AN ACT concerning civil law.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Code of Civil Procedure is amended by | ||||
changing Section 12-1001 as follows:
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(735 ILCS 5/12-1001)
(from Ch. 110, par. 12-1001)
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Sec. 12-1001. Personal property exempt. The following | ||||
personal property,
owned by the debtor, is exempt from | ||||
judgment, attachment, or distress for rent:
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(a) The necessary wearing apparel, bible, school | ||||
books, and family
pictures of the debtor and the debtor's | ||||
dependents;
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(b) The debtor's equity interest, not to exceed $4,000 | ||||
in
value, in any
other property;
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(c) The debtor's interest, not to exceed $2,400
in | ||||
value,
in any one motor
vehicle;
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(d) The debtor's equity interest, not to exceed $1,500 | ||||
in
value,
in any
implements, professional books, or tools | ||||
of the trade of the debtor;
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(e) Professionally prescribed health aids for the | ||||
debtor or a dependent of
the debtor;
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(f) All proceeds payable because of the death of the | ||||
insured and the
aggregate net cash value of any or all life | ||||
insurance and endowment
policies and annuity contracts | ||
payable to a wife or husband of the insured,
or to a child, | ||
parent, or other person dependent upon the insured, or to a | ||
revocable or irrevocable trust which names the wife or | ||
husband of the insured or which names a child, parent, or | ||
other person dependent upon the insured as the primary | ||
beneficiary of the trust, whether
the power to change the | ||
beneficiary is reserved to the insured or not and
whether | ||
the insured or the insured's estate is a contingent | ||
beneficiary or not;
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(g) The debtor's right to receive:
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(1) a social security benefit, unemployment | ||
compensation, or public
assistance benefit;
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(2) a veteran's benefit;
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(3) a disability, illness, or unemployment | ||
benefit; and
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(4) alimony, support, or separate maintenance, to | ||
the extent reasonably
necessary for the support of the | ||
debtor and any dependent of the debtor.
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(h) The debtor's right to receive, or property that is | ||
traceable to:
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(1) an award under a crime victim's reparation law;
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(2) a payment on account of the wrongful death of | ||
an individual of whom
the debtor was a dependent, to | ||
the extent reasonably necessary for the support
of the | ||
debtor;
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(3) a payment under a life insurance contract that | ||
insured the life of
an individual of whom the debtor | ||
was a dependent, to the extent reasonably
necessary for | ||
the support of the debtor or a dependent of the debtor;
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(4) a payment, not to exceed $15,000 in value, on | ||
account
of personal
bodily injury of the debtor or an | ||
individual of whom the debtor was a
dependent; and
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(5) any restitution payments made to persons | ||
pursuant to the federal
Civil Liberties Act of 1988 and | ||
the Aleutian and Pribilof Island
Restitution Act, P.L. | ||
100-383.
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For purposes of this subsection (h), a debtor's right | ||
to receive an award
or payment shall be exempt for a | ||
maximum of 2 years after the debtor's right
to receive the | ||
award or payment accrues; property traceable to an
award or | ||
payment shall be exempt for a maximum of 5 years after the | ||
award
or payment accrues; and an award or payment and | ||
property traceable
to an award or payment shall be exempt | ||
only to the extent of the amount
of the award or payment, | ||
without interest or appreciation from the date
of the award | ||
or payment.
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(i) The debtor's right to receive an award under Part | ||
20 of Article II of
this Code relating to crime victims' | ||
awards.
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(j) Moneys held in an account invested in the Illinois | ||
College Savings Pool of which the debtor is a participant | ||
or donor and funds invested in an ABLE Account as defined | ||
by Section 529 of the Internal Revenue Code, except the | ||
following non-exempt contributions: | ||
(1) any contribution to such account by the debtor | ||
as participant or donor that is made with the actual | ||
intent to hinder, delay, or defraud any creditor of the | ||
debtor; | ||
(2) any contributions to such account by the debtor | ||
as participant during the 365 day period prior to the | ||
date of filing of the debtor's petition for bankruptcy | ||
that, in the aggregate during such period, exceed the | ||
amount of the annual gift tax exclusion under Section | ||
2503(b) of the Internal Revenue Code of 1986, as | ||
amended, in effect at the time of contribution; or | ||
(3) any contributions to such account by the debtor | ||
as participant during the period commencing 730 days | ||
prior to and ending 366 days prior to the date of | ||
filing of the debtor's petition for bankruptcy that, in | ||
the aggregate during such period, exceed the amount of | ||
the annual gift tax exclusion under Section 2503(b) of | ||
the Internal Revenue Code of 1986, as amended, in | ||
effect at the time of contribution. | ||
For purposes of this subsection (j), "account" | ||
includes all accounts for a particular designated | ||
beneficiary, of which the debtor is a participant or donor.
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Money due the debtor from the sale of any personal property | ||
that was
exempt from judgment, attachment, or distress for rent | ||
at the
time of the sale is exempt from attachment and | ||
garnishment to the same
extent that the property would be | ||
exempt had the same not been sold by
the debtor.
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If a debtor owns property exempt under this Section and he | ||
or she purchased
that property with the intent of converting | ||
nonexempt property into exempt
property or in fraud of his or | ||
her creditors, that property shall not be
exempt from judgment, | ||
attachment, or distress for rent. Property acquired
within 6 | ||
months of the filing of the petition for bankruptcy shall be | ||
presumed
to have been acquired in contemplation of bankruptcy.
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The personal property exemptions set forth in this Section | ||
shall apply
only to individuals and only to personal property | ||
that is used for personal
rather than business purposes. The | ||
personal property exemptions set forth
in this Section shall | ||
not apply to or be allowed
against any money, salary, or wages | ||
due or to become due to the debtor that
are required to be | ||
withheld in a wage
deduction proceeding under Part 8 of this
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Article XII.
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(Source: P.A. 97-1030, eff. 8-17-12.)
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