House Bill No. by Representative Mandie Landry amends existing Louisiana law regarding exemptions from seizure, specifically focusing on motor vehicles and health savings accounts. The bill increases the exemption for one motor vehicle from $7,500 to $15,000 in equity value for any purpose, and allows for a second vehicle to be exempted up to $15,000 if the debtor is married or has a licensed driver child in the household, provided they do not qualify for a modified vehicle exemption. Additionally, the exemption for vehicles that are substantially modified for individuals with disabilities is raised from $7,500 to $20,000, with the stipulation that only one such vehicle can be exempted.

Furthermore, the bill introduces an exemption for health savings accounts, which are defined as accounts for medical expenses authorized under federal law. It retains existing exemptions for pensions and tax-deferred arrangements while adding the definition of "health savings account" to the law. The changes aim to provide greater financial protection for debtors by increasing the value of exempt assets and expanding the types of accounts that are protected from seizure.

Statutes affected:
HB135 Original: 13:3881(A)