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Committee advances bill to let married homeowners each claim $175,000 homestead exemption; bankruptcy change removed for further review
Summary
The Senate Local Government and Taxation Committee moved House Bill 282 to the fourteenth order for possible amendment after hearing that the bill would allow married homeowners to each claim a $175,000 homestead exemption and after debate over a separate bankruptcy-related provision that presenters recommended removing.
The Senate Local Government and Taxation Committee on an unspecified date considered House Bill 282, which would allow married homeowners to each claim the $175,000 homestead exemption currently available to individuals and sent the bill to the fourteenth order of business for possible amendment.
Representative Lance Clow, District 25 of Twin Falls, told the committee the bill addresses the homestead exemption (which protects a homeowner's equity from involuntary liens) and not property taxation. "Homeowners are each entitled to $175,000 of protection of their equity in the event of an unexpected lien," Clow said, adding that the change would treat married owners the same as two unmarried co-owners.
Alexandra…
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