Protecting Gun Owners in Bankruptcy Act of 2022

Bill: 117-hr-7493
Sponsor: full_name: Rep. Jacobs, Chris [R-NY-27]
Introduced: 2022-04-11
Policy area: Finance and Financial Sector
Latest action: action_date: 2022-11-01
text: Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Summaries:
action_date: 2022-04-11
action_desc: Introduced in House
text: <p><b>Protecting Gun Owners in Bankruptcy Act of 2022</b></p> <p>This bill modifies federal bankruptcy law to allow an individual debtor to exempt from their bankruptcy estate one or more firearms up to a total maximum value of $3,000. The bill also specifies that such firearms are household goods that are not subject to liens in bankruptcy.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 7493 IN THE HOUSE OF REPRESENTATIVES April 11, 2022 Mr. Jacobs of New York (for himself, Mr. Cawthorn , Mr. Newhouse , Mr. Weber of Texas , Mr. Mooney , Mr. Van Drew , Mr. Garbarino , Ms. Stefanik , Ms. Tenney , Mr. Mullin , Mr. Gosar , Mr. McKinley , Mr. Budd , Mr. Norman , Mr. Feenstra , and Ms. Herrell ) introduced the following bill; which was referred to the Committee on the Judiciary A BILL To amend title 11 of the United States Code to include firearms in the types of property allowable under the alternative provision for exempting property from the estate.

1. Short title This Act may be cited as the Protecting Gun Owners in Bankruptcy Act of 2022 . 2. Exemptions Section 522 of title 11, United States Code, is amended— (1) in subsection (d) by adding at the end the following: (13) The debtor's aggregate interest, not to exceed $3,000 in value, in a single firearm or firearms. ; and (2) in subsection (f)(4)(A)— (A) in clause (xiv) by striking and at the end; (B) in clause (xv) by striking the period at the end and inserting ; and ; and (C) by adding at the end the following: (xvi) The debtor's aggregate interest, not to exceed $3,000 in value, in a single firearm or firearms. . 3. Effective date; application of amendments (a) Effective date Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act. (b) Application of amendments The amendments made by this Act shall apply only with respect to cases commenced under title 11 of the United States Code on or after the date of the enactment of this Act.