Governor Ron DeSantis rejected measures on Friday that would increase the value of vehicles protected from legal claims in bankruptcy proceedings. Legislators passed a bill (HB 265) during the legislative session that ended in March, the third bill that DeSantis rejected. He proposed raising the debt forgiveness of debtors’ interests on cars from $ 1,000 to $ 5,000.
In a veto letter to Secretary of State Code Bird, DeSantis wrote that the measure could motivate people to seek bankruptcy protection. “It may be time to consider increasing the outdated exemption, but this increase applies to anyone who can claim a Florida exemption, with or without bankruptcy, so that people file for bankruptcy. It needs to be unmotivated, which has a negative impact on a person’s credit history, “writes DeSantis.
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State law allows those seeking bankruptcy protection to exempt residential real estate from creditor claims, regardless of value. They can also seek protection for up to $ 1,000 in property, as well as protection of the value of the vehicle. If people do not receive home protection, property protection will increase by $ 4,000. Lawmakers passed the bill without objection. DeSantis also announced at the end of Friday that it had signed eight bills from the session.
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