This bill amends Title 11 of the United States Code , which governs bankruptcy proceedings, to allow debtors to retain a certain value of firearms when filing for bankruptcy. It adds a provision to Section 522(d) , enabling debtors to exempt their aggregate interest, not exceeding $3,000 in value , in a single firearm or firearms from the bankruptcy estate when choosing federal exemptions. Additionally, the bill modifies Section 522(f)(4)(A) to include this same firearm exemption, ensuring that certain liens on these firearms, up to the specified value, cannot be avoided during the bankruptcy process. These amendments will apply only to bankruptcy cases commenced on or after the bill's enactment date.
This bill amends Title 11 of the United States Code , which governs bankruptcy proceedings, to allow debtors to retain a certain value of firearms when filing for bankruptcy. It adds a provision to Section 522(d) , enabling debtors to exempt their aggregate interest, not exceeding $3,000 in value , in a single firearm or firearms from the bankruptcy estate when choosing federal exemptions. Additionally, the bill modifies Section 522(f)(4)(A) to include this same firearm exemption, ensuring that certain liens on these firearms, up to the specified value, cannot be avoided during the bankruptcy process. These amendments will apply only to bankruptcy cases commenced on or after the bill's enactment date.