Lots of desks were empty when the California Assembly last called the role on SB 308.
Twenty were “absent” when Senator Wieckowski’s bill to save California homes went down to defeat last week.
The bill does away with an archaic reinvestment requirement that puts the homestead exemption at risk when a homeowner with equity files bankruptcy.
It creates a modest exemption in business assets for small businesses and brings the protected amounts into line with today’s values of used cars.
SB 308 eliminates the need for one spouse to get the other’s consent to choose bankruptcy exemptions.
The bill will be reconsidered this month; here’s hoping the MIA’s realize how critical exemption issues are to those not in the 1%.
Ducking the vote is hardly leadership, in my view.
So here’s the list of those missing in action when the bill for better exemptions bit the dust:
Unfortunately, it didn’t include the assembly members listed above.
We’ll see if any of those “absent” answer the roll call.
Add your voice to those supporting better exemptions with a quick email to your Assembly Member.
Image courtesy of GlobalPartnership for Education and Flickr