Bankruptcy Chapter 7 & 13

McDonald Law
Offices PLLC

L A W Y E R S
Copyright Notice

      

Increase in Exemption for Motor Vehicle in Arizona

SB1175, dealing with personal property exemption for automobiles was sent to the governor on 04/18/01.

Under that bill, Section 33-1125(8), Arizona Revised Statutes, is amended to read:

8. One motor vehicle not in excess of a fair market value of one five thousand five hundred dollars. If the debtor is maimed or crippled physically disabled, the fair market value of the motor vehicle shall not exceed four ten thousand dollars.

The governor has three options for each bill presented:

(1) Sign the bill within five days (ten days if the legislature is adjourned). If he does so, the law takes effect immediately if it was emergency or Proposition 108 legislation; otherwise the law takes effect 90 days after the legislature adjourns.

(2) Not sign the bill, in which case it becomes law after the five or ten day period.

(3) Veto the bill. If the veto takes place while the legislature is still in session, the bill is returned to the legislature where legislation a 2/3 vote of each house (3/4 if emergency or Proposition 108) is required to override the veto. If the legislature has already adjourned, the bill is dead.

The 45th Legislature, 1st regular session convened on 01/08/2001 and adjourned sine die on 5/10/2001, which would make legislation effective 90 days later, or on 08/09/2001.


This page was last revised: 07/28/03