Victory in CA! State Senate Passes SB 308, Homestead Exemption Bill

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CA State Senator Bob Wieckowski, with NACBA co-founders Ike Shulman and Norma Hammes, after passage of SB 308 in the Senate Judiciary Committee 4/28/15.

We are pleased to report that thanks to the hard work of NACBA and our California membership, SB 308 passed a vote on the Senate floor today! This legislation would increase California’s state homestead exemption to $300,000 (across the board) and make several other important improvements for Californians in financial distress and bankruptcy attorneys who serve them.  Please click to review a description of the bill and NACBA’s letter of support.

As many of you know, NACBA has been coordinating closely with the bill sponsor Sen. Wieckowski, his staff and our CA members to advance this legislation. Together we generated over 130 letters, emails, and phone calls to advance this effort. Many thanks to everyone who took the time to submit a letter, make a call, or enlist your clients to weigh in supportively. Today’s vote shows you can make a difference!

California members, please stay tuned for next steps as this legislation proceeds to the State Assembly. But for now, a job well done for NACBA! Kudos to everyone involved.

Thanks again!

Ike Shulman
Chair, NACBA Legislative Committee

Educate, Advocate, Litigate

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2 comments

    1. Absolutely not. As part of the bankers’ smear campaign against SB 308 they are trying to convince credit unions they will be hurt – but, it’s not true. The bankers want a more sympathetic voice (credit unions don’t have the same bad reputation banks do) making their pitch.

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