The bill amends Washington's Revised Code to update garnishment exemptions related to personal property and financial assets. It introduces new exemption limits for bank accounts, savings, and securities based on the type of debt, allowing individuals to exempt up to $2,500 for private student loan debt and $2,000 for consumer debt. These exemption amounts will be adjusted every three years according to changes in the consumer price index. Additionally, the bill expands the definition of exempt property to include alimony and spousal support owed to the debtor, and clarifies the process for claiming exemptions during garnishment proceedings to ensure individuals are informed of their rights.

Moreover, the bill establishes new requirements for judgment creditors or plaintiffs to specify dollar amounts related to exemption claims before serving notices or writs, based on guidelines from RCW 6.15.010(1)(d)(iii) and adjusted by the Department of Revenue. It also allows for the omission of certain exemption language depending on the type of debt being collected. The bill repeals conflicting previous acts and sets an effective date of July 1, 2025, for the changes, aiming to streamline the garnishment process and emphasize the importance of timely action by defendants in claiming exemptions.

Statutes affected:
Original Bill: 6.15.010
Substitute Bill: 6.15.010
Second Substitute: 6.15.010
Engrossed Second Substitute: 6.15.010, 6.15.050, 6.27.140, 6.27.100
Bill as Passed Legislature: 6.15.010, 6.15.050, 6.27.140, 6.27.100
Session Law: 6.15.010, 6.15.050, 6.27.140, 6.27.100