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Lawmakers hear competing views on raising Maryland homestead and exemption limits
Summary
Delegate Tomlinson and bankruptcy advocates argued HB 15 20 updates exemption amounts — including a new homestead exemption — to reflect modern home values and protect low‑income homeowners; bankers warned large increases could hinder creditor recovery and suggested narrower adjustments.
Delegate Chris Tomlinson told the Judiciary Committee HB 15 20 would modernize Maryland's exemption rules for bankruptcy and related proceedings, increasing personal property protections, adding a motor‑vehicle exemption and creating a meaningful state homestead exemption (proposed levels discussed in testimony).
Consumer‑bankruptcy…
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