The fight for modern California exemptions happens this week in Sacramento.
On one side are average folks and seniors; on the other is the financial services industry.
The struggle is for the votes of California Assembly members on SB 308.
The bell rings on this month We’ll have winners and losers within days.
SB 308 protects families & the self employed
Exemptions are legal protection from creditors for the essentials of day-to-day living. They limit what a creditor can take from you.
The value of California’s exemptions has fallen behind the cost of living and the employment mix of our citizens.
They no longer work well to protect the roof over your head, the car in your garage, or your small business.
SB 308 would fix some of those shortcomings.
The bill creates a $5000 exemption for the self employed to shelter inventory, receivables or cash. That puts the gigsters and the entrepreneuers on similar footing with wage earners.
The bill increases the protections for equity in a California home, particularly important for seniors.
And it eliminates a current provision that makes a married person filing alone get their spouse’s consent to their choice of exemptions. And there’s a new exemption protecting child support and family support from creditor garnishment.
Assembly members who haven’t taken sides
Here are some Assembly members who appear to be undecided and the Assembly district they represent. Find your assembly district.
Call, write, email or fax
If you take sides with average folks, contact your representative today. Time’s run out.
Your message is simple: Please vote for S.B. 308.
Enter your zip code from this link and get a sample letter you can send to your Assembly member with a mouse click.
Join with a great coalition of others who want to balance the rights of average folks against moneyed corporations.