---
title: HB 1024. Property; debtor's aggregate interest in real property or personal property used as a residence; revise exemption
collection: bills
id: 2025-2026/hb1024
cite_as: HB 1024, 2025-2026 Regular Session (Ga.)
canonical_url: https://georgiacommons.org/bills/2025-2026/hb1024
md_url: https://georgiacommons.org/bills/2025-2026/hb1024.md
text_url: https://georgiacommons.org/bills/2025-2026/hb1024/text
source_url: https://www.legis.ga.gov/legislation/72354
date: 2026-05-11
status: passed
corpus_version: bills-2026-09-13
license: Public record of the Georgia General Assembly, via LegiScan; see about.md
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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omitted: votes and history
omitted_chars: 1083
omitted_url: https://georgiacommons.org/bills/2025-2026/hb1024.md?full=1
bill_number: HB 1024
session: 2025-2026 Regular Session
session_slug: 2025-2026
chamber: House
bill_type: bill
status_date: 2026-05-11
last_action: Effective Date 2026-07-01
sponsors:
  - Soo Hong
  - Matt Reeves
  - Rob Leverett
  - Marty Harbin
text_version: Enrolled
has_text: true
legiscan_url: https://legiscan.com/GA/bill/HB1024/2025
upstream_id: 2095061
summaries_model: claude-sonnet-5
topic_tags:
  - bankruptcy law
  - homestead exemption
  - property protection
  - debtor rights
  - inflation adjustments
---

# HB 1024. Property; debtor's aggregate interest in real property or personal property used as a residence; revise exemption

## Text

House Bill 1024 (AS PASSED HOUSE AND SENATE)
By: Representatives Hong of the 103rd, Reeves of the 99th, and Leverett of the 123rd
A BILL TO BE ENTITLED
AN ACT
To amend Code Section 44-13-100 of the Official Code of Georgia Annotated, relating to
exemptions for purposes of bankruptcy and intestate insolvent estates, so as to revise the
exemption for a debtor's aggregate interest in real property or personal property that the
debtor or a dependent of the debtor uses as a residence, in a cooperative that owns property
that the debtor or a dependent of the debtor uses as a residence, or in a burial plot; to provide
for such exemption for the primary residence of spouses; to provide for certain increases to
such exemption; to provide for related matters; to repeal conflicting laws; and for other
purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION 1.
Code Section 44-13-100 of the Official Code of Georgia Annotated, relating to exemptions
for purposes of bankruptcy and intestate insolvent estates, is amended by revising
paragraph (1) of subsection (a) as follows:
"(1)(A) The debtor's aggregate interest, not to exceed <del>$21,500.00</del> <ins>$50,000.00</ins> in value,
in real property or personal property that the debtor or a dependent of the debtor uses
as a residence, in a cooperative that owns property that the debtor or a dependent of the
debtor uses as a residence, or in a burial plot for the debtor or a dependent of the debtor;
<ins>provided, however, that beginning July 1, 2031, and annually thereafter, such
exemption shall be revised by being multiplied by the inflation rate of the prior year.
</ins> In the event title to property used for the exemption provided under this paragraph is
in one of two spouses who is a debtor, <ins>and such property is the primary residence of
both spouses,</ins> the amount of the exemption hereunder shall be <del>$43,000.00</del> <ins>$100,000.00;
provided, however, that, beginning July 1, 2031, and annually thereafter, such
exemption shall be revised by being multiplied by the inflation rate of the prior year;
(B) As used in this paragraph, the term 'inflation rate' means the annual inflationary
index rate as determined for a given year by the state revenue commissioner by
promulgating a standardized method for determining annual inflationary index rates
which reflect the effects of inflation and deflation on the cost of living for residents of
this state for a given calendar year. Such method may utilize the Consumer Price Index
as reported by the Bureau of Labor Statistics of the United States Department of Labor
or any other similar index established by the federal government if the state revenue
commissioner determines that such federal index fairly reflects the effects of inflation
and deflation on the cost of living for residents of this state."
</ins> SECTION 2.
All laws and parts of laws in conflict with this Act are repealed.

## Summaries written by Georgia Commons

The following was written by claude-sonnet-5 from the text above and is not part of the bill. Quote the text, not the summary.

House Bill 1024 raises the amount of home equity Georgians can shield from creditors in bankruptcy from $21,500 to $50,000, and from $43,000 to $100,000 for married couples living together in the home.

### Plain-language summary

Under current Georgia law, someone filing for bankruptcy or handling an insolvent estate can protect a limited amount of equity in their home, a co-op residence, or a burial plot from creditors. That protected amount, known as the homestead exemption, has been $21,500 for an individual and $43,000 when the home is jointly owned by a married couple.
This bill rewrites O.C.G.A. § 44-13-100 to raise those amounts to $50,000 for an individual debtor and $100,000 for spouses who both use the property as their primary residence. Starting July 1, 2031, and every year after that, both figures would automatically increase based on an inflation rate calculated by the state revenue commissioner, using a method that may rely on the federal Consumer Price Index or a similar index. The rest of the exemption, covering residences, cooperative housing, and burial plots, stays the same.

### What it does

- Raises the individual homestead exemption in bankruptcy and insolvent estate cases from $21,500 to $50,000 in property value.
- Raises the exemption for married couples who both use the property as their primary residence from $43,000 to $100,000.
- Requires the exemption amounts to be adjusted upward every year starting July 1, 2031, based on an inflation rate.
- Directs the state revenue commissioner to create a standardized method for calculating that annual inflation rate, which may use the federal Consumer Price Index.

### Who it affects

Georgians who file for bankruptcy or whose insolvent estates are settled after death, particularly homeowners and married couples trying to protect equity in their primary residence, co-op residents, and people seeking to protect a burial plot from creditors.

### Why it matters

A higher exemption means more Georgians could keep a larger share of their home equity when going through bankruptcy or an insolvent estate, rather than losing it to creditors. The automatic inflation adjustments starting in 2031 would keep the protection from losing value over time as home prices rise.

### Key provisions

- Section 1 amends O.C.G.A. § 44-13-100(a)(1)(A), raising the individual exemption for a residence, co-op interest, or burial plot from $21,500 to $50,000.
- Section 1 raises the exemption for spouses who both use jointly titled property as their primary residence from $43,000 to $100,000.
- Section 1 adds new language requiring both exemption amounts to be multiplied by an annual inflation rate starting July 1, 2031.
- Section 1 adds a new subsection (B) defining 'inflation rate' as an index the state revenue commissioner sets annually, which may be based on the Consumer Price Index or a comparable federal index.
- Section 2 repeals any conflicting laws.

## Status

- Status: Passed (2026-05-11)
- Last action: Effective Date 2026-07-01 (2026-05-11)
- Sponsors: Soo Hong, Matt Reeves, Rob Leverett, Marty Harbin
- Official page: https://www.legis.ga.gov/legislation/72354

> The history, votes, and amendments (1,083 characters) are at https://georgiacommons.org/bills/2025-2026/hb1024.md?full=1