HB0174 • 2023

Homestead exemption-amendments.

AN ACT relating to the code of civil procedure; increasing the limit on the value of the homestead applicable to the homestead exemption; and providing for an effective date.

Children

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Representative Andrew
Last action: 2023-02-24
Official status: enrolled
Effective date: 7/1/2023

Plain English Breakdown

The official source material does not provide information about whether the bill specifies how the increase in exemption value will affect existing protections.

Increasing Homestead Exemption Value

This law increases the value of property that can be protected under Wyoming's homestead exemption from $20,000 to $100,000.

What This Bill Does

Changes the limit on the value of a homestead exempt from debts and civil obligations from $20,000 to $100,000.
Applies this new exemption amount to all residents in Wyoming starting July 1, 2023.

Who It Names or Affects

Residents of Wyoming who have property that can be considered a homestead.

Terms To Know

Homestead: A home and the land it sits on, or a trailer, which is protected from being taken to pay debts.
Exemption: Protection that stops something (like property) from being used to pay off debt.

Limits and Unknowns

The bill does not specify how the increase in exemption value will affect existing homestead protections.
It is unclear if there are any limits on how many times a person can use this new higher exemption amount.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HB0174H2001

2nd reading • Representative Andrew

Adopted

Plain English: The amendment increases the value limit of a homestead that qualifies for the homestead exemption from $50,000 to $100,000.

Increases the maximum value of property eligible for the homestead exemption from $50,000 to $100,000.

HB0174HS001

Standing Committee • House Revenue Committee

Adopted

Plain English: The amendment changes the homestead exemption limit by increasing it to $50,000 and making other minor textual adjustments.

Changes 'removing' to 'increasing'.
Inserts '$50,000.00' as the new value limit for the homestead exemption.

The amendment text does not provide details on how this change will affect existing exemptions or other specifics of implementation.

Bill History

2023-02-24 LSO
Assigned Chapter Number 84
2023-02-24 Governor
Governor Signed HEA No. 0039
2023-02-22 Senate
S President Signed HEA No. 0039
2023-02-21 House
H Speaker Signed HEA No. 0039
2023-02-17 LSO
Assigned Number HEA No. 0039
2023-02-17 Senate
S 3rd Reading:Passed 26-3-1-0-1
2023-02-16 Senate
S 2nd Reading:Passed
2023-02-15 Senate
S COW:Passed
2023-02-14 Senate
S Placed on General File
2023-02-14 Senate
S03 - Revenue:Recommend Do Pass 5-0-0-0-0
2023-02-13 Senate
S Introduced and Referred to S03 - Revenue
2023-02-09 Senate
S Received for Introduction
2023-02-08 House
H 3rd Reading:Passed 49-13-0-0-0
2023-02-07 House
H 2nd Reading:Passed
2023-02-06 House
H COW:Passed
2023-02-02 House
H Placed on General File
2023-02-02 House
H03 - Revenue:Recommend Amend and Do Pass 9-0-0-0-0
2023-01-19 House
H Introduced and Referred to H03 - Revenue
2023-01-18 House
H Received for Introduction
2023-01-17 LSO
Bill Number Assigned

Official Summary Text

Bill Summary - 23LSO-0547
Bill No.:

HB0174

Effective:

7/1/2023

LSO No.:

23LSO-0547

Enrolled Act No.:

HEA No. 0039

Chapter No.:

84

Prime Sponsor:

Andrew

Catch Title:

Homestead exemption-amendments.

Subject:

Homestead exemption.

Summary/Major Elements:

A homestead may consist of a house on a lot or lots or other lands of any number of acres, or a house trailer or other movable home on a lot or lots, whether or not the house trailer or other movable home is equipped with wheels or resting upon immovable support.

Wyoming law provides a "homestead exemption" that is a set monetary value of a homestead that is exempt from execution or attachment arising from any debt, contract or civil obligation.

This bill increases the amount of the homestead exemption from twenty thousand dollars ($20,000.00) to one hundred thousand dollars ($100,000,00).

The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent.

While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.

Current Bill Text

Read the full stored bill text

23LSO-0547

ORIGINAL House

Bill No
.
HB0174

ENROLLED ACT NO. 39,

HOUSE OF REPRESENTATIVES

SIXTY-SEVENTH LEGISLATURE OF THE STATE OF WYOMING
2023 General Session

AN ACT relating to the code of civil procedure; increasing the limit on the value of the homestead applicable to the homestead exemption; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.

W.S. 1
‑
20
‑
101 is amended to read:

1
‑
20
‑
101.

Homestead exemption; right.

Every resident of the state is entitled to a homestead not exceeding
twenty thousand dollars ($20,000.00)
one hundred thousand dollars ($100,000.00)
in value, exempt from execution and attachment arising from any debt, contract or civil obligation entered into or incurred.

Section 2
.

This act is effective July 1, 2023
.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the House.

Chief Clerk

1