The bill amends several sections of the Revised Code of Washington (RCW) concerning exemptions from garnishment, specifically targeting RCW 6.15.010, 6.15.050, 6.27.140, and 6.27.100. It introduces new exemptions for personal property, allowing individuals to exempt up to $3,500 in value for private libraries and personal ornaments. Additionally, it increases exemption limits for bank accounts, savings, and securities based on the type of debt, setting specific limits for private student loan debt at $2,500 and consumer debt at $2,000. These amounts will be adjusted every three years to align with changes in the consumer price index. The bill also clarifies the rights of individuals facing garnishment, ensuring that certain benefits like Social Security and unemployment compensation are fully exempt when deposited in bank accounts.

Moreover, the bill outlines the garnishment process, particularly for exemption claims related to private student loan and consumer debt. It requires judgment creditors to specify dollar amounts for exemption claims before mailing or serving notices or writs, with the option to omit exemption language for other types of debt. The bill mandates that garnishment writs include clear statements regarding the nature of the debt, such as child support or private student loans, and establishes new thresholds for the release of funds in bank accounts based on their exempt status. It also repeals certain previous acts and emphasizes the necessity for immediate action to preserve public peace, health, or safety, with an effective date of July 1, 2025.

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