New York A 7940: Relates to the motor vehicle exemption and the homestead exemption for certain money judgments and bankruptcy proceedings

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
A07940 Summary:

BILL NOA07940 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORBronson

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §§5205, 5206, & 5253, CPLR; amd §282, D & C L

&nbsp

Relates to the calculation of the homestead exemption amount; relates to the indexing of the homestead exemption for housing value changes; increases the amount of the motor vehicle exemption; limits the homestead exemption available to bankruptcy debtors to one exemption per household; increases the motor vehicle exemption available in bankruptcy proceedings.

Go to top A07940 Actions:

BILL NOA07940 

&nbsp

04/16/2025referred to codes

01/07/2026referred to codes

02/25/2026reported referred to ways and means

Go to topA07940 Committee&nbspVotes:

Committee:CODES Chair:Dinowitz 
DATE:02/25/2026AYE/NAY:17/2 Action: Favorable refer to committee Ways and Means DinowitzAyeMorinelloAye

CookExcusedReillyAye

LavineAyeMikulinAye

WeprinAyeTannousisAye

HevesiAyeAngelinoNay

SeawrightExcusedMolitorNay

RosenthalAye

WalkerAye

VanelAye

CruzAye

BoresAye

ReyesAye

CunninghamAye

RomeroAye

AlvarezExcused

TaylorAye

Go to topA07940 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA07940 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7940

 2025-2026 Regular Sessions

 IN ASSEMBLY

 April 16, 2025
 ___________

 Introduced by M. of A. BRONSON -- read once and referred to the Commit-
 tee on Codes

 AN ACT to amend the civil practice law and rules and the debtor and
 creditor law, in relation to the motor vehicle exemption and the home-
 stead exemption for certain money judgments and bankruptcy proceedings

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Paragraph 8 of subdivision (a) of section 5205 of the civil
 2 practice law and rules, as amended by chapter 1 of the laws of 2011, is
 3 amended to read as follows:
 4 8. one motor vehicle not exceeding [four] ten thousand dollars in
 5 value above liens and encumbrances of the debtor; if such vehicle has
 6 been equipped for use by a disabled debtor, then [ten] twenty-five thou-
 7 sand dollars in value above liens and encumbrances of the debtor;
 8 provided, however, that this exemption for one motor vehicle shall not
 9 apply if the debt enforced is for child support, spousal support, main-
 10 tenance, alimony or equitable distribution, or if the state of New York
 11 or any of its agencies or any municipal corporation is the judgment
 12 creditor; and
 13 § 2. Subdivisions (a), (d) and (e) of section 5206 of the civil prac-
 14 tice law and rules, as amended by chapter 568 of the laws of 2010, are
 15 amended and a new subdivision (g) is added to read as follows:
 16 (a) Exemption of homestead. Property of one of the following types,
 17 not exceeding [one hundred fifty thousand dollars for the counties of
 18 Kings, Queens, New York, Bronx, Richmond, Nassau, Suffolk, Rockland,
 19 Westchester and Putnam; one hundred twenty-five thousand dollars for the
 20 counties of Dutchess, Albany, Columbia, Orange, Saratoga and Ulster; and
 21 seventy-five thousand dollars for the remaining counties of the state]
 22 the homestead exemption amount in value above liens and encumbrances,
 23 owned and occupied as a principal residence, is exempt from application

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09079-02-5

 A. 7940 2

 1 to the satisfaction of a money judgment, unless the judgment was recov-
 2 ered wholly for the purchase price thereof:
 3 1. a lot of land with a dwelling thereon,
 4 2. shares of stock in a cooperative apartment corporation,
 5 3. units of a condominium apartment, or
 6 4. a mobile home.
 7 But no exempt homestead shall be exempt from taxation or from sale for
 8 non-payment of taxes or assessments.
 9 (d) Exemption of homestead exceeding [one hundred fifty thousand
 10 dollars in value for the counties of Kings, Queens, New York, Bronx,
 11 Richmond, Nassau, Suffolk, Rockland, Westchester and Putnam; one hundred
 12 twenty-five thousand dollars for the counties of Dutchess, Albany,
 13 Columbia, Orange, Saratoga and Ulster; and seventy-five thousand dollars
 14 for the remaining