77th OREGON LEGISLATIVE ASSEMBLY--2013 Regular Session

HA to SB 396

LC 1519/SB 396-5

                       HOUSE AMENDMENTS TO
                         SENATE BILL 396

                    By COMMITTEE ON JUDICIARY

                             June 4

  On page 1 of the printed bill, line 2, after 'ORS' insert '
18.300,'.
  On page 9, delete lines 17 through 22 and insert:
  '  { +  SECTION 4. + } ORS 18.300 is amended to read:
  ' 18.300.   { - In accordance with section 522(b) of the
Bankruptcy Code of 1978 (11 U.S.C. 522(b)), residents of this
state shall not be entitled to the federal exemptions provided in
section 522(d) of the Bankruptcy Code of 1978 (11 U.S.C. 522(d)).
Nothing in this section shall affect the exemptions given to
residents of this state by the Constitution of the State of
Oregon and the Oregon Revised Statutes. - }
  '  { +  (1) For purposes of a bankruptcy petition, a resident
of this state may use the federal exemptions provided in section
522(d) of the Bankruptcy Code of 1978 (11 U.S.C. 522(d)) or the
exemptions given to residents of this state under state law, but
may not use both.
  ' (2)(a) If a resident of this state uses any of the federal
exemptions provided in section 522(d) of the Bankruptcy Code of
1978 (11 U.S.C. 522(d)) for purposes of a bankruptcy petition,
the resident may not use any of the exemptions given to residents
of this state under state law.
  ' (b) If a resident of this state uses any of the exemptions
given to residents of this state under state law for purposes of
a bankruptcy petition, the resident may not use any of the
federal exemptions provided in section 522(d) of the Bankruptcy
Code of 1978 (11 U.S.C. 522(d)).
  ' (3) This section does not apply to executions. + }
  '  { +  SECTION 5. + }  { + (1) The amendments to ORS 18.345,
18.845 and 18.896 by sections 1 to 3 of this 2013 Act apply only
to executions as defined in ORS 18.005 issued on or after the
effective date of this 2013 Act.
  ' (2) The amendments to ORS 18.300 by section 4 of this 2013
Act apply only to bankruptcy petitions first filed on or after
the effective date of this 2013 Act. + }
  '  { +  SECTION 6. + }  { + This 2013 Act being necessary for
the immediate preservation of the public peace, health and
safety, an emergency is declared to exist, and this 2013 Act
takes effect on its passage. + } ' .
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