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(a) The $54,000 homestead exemption provided in AS 09.38.010 (a) and (b) is increased to $67,500.
(b) The personal property exemptions provided in AS 09.38.020 are increased as follows:
(1) the $3,000 aggregate exemption for personal property, set out in AS 09.38.020 (a), is increased to $3,750;
(2) the $1,000 exemption for jewelry, set out in AS 09.38.020 (b), is increased to $1,250;
(3) the $2,800 exemption for implements, professional books, and tools of the trade, set out in AS 09.38.020 (c), is increased to $3,500;
(4) the $1,000 exemption for pets, set out in AS 09.38.020 (d), is increased to $1,250; and
(5) the $3,000 exemption for a motor vehicle, set out in AS 09.38.020 (e), is increased to $3,750 and the $20,000 value limitation for the motor vehicle, set out in AS 09.30.020 (e), is increased to $25,000.
(c) The $10,000 exemption for accrued dividends and loan values on life insurance and annuity contracts, in AS 09.38.025 (a), is increased to $12,500.
(d) The exemptions for earnings and liquid assets, in AS 09.38.030 , are increased as follows:
(1) the $350 exemption for weekly net earnings, set out in AS 09.38.030 (a), is increased to $438; and
(2) the $1,400 exemption for cash and other liquid assets, set out in AS 09.38.030 (b), is increased to $1,750.
(e) The increased exemption amounts provided in AS 09.38.050 (b) are increased as follows:
(1) the $550 amount regarding weekly disposable earnings is increased to $688; and
(2) the $2,200 maximum monthly exemption for cash and other liquid assets is increased to $2,750.
History: Eff. 7/1/86, Register 98; am 10/1/92, Register 123; am 7/22/99, Register 151; am 9/30/2004, Register 171
Authority: AS 09.38.115
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Last modified 7/05/2006