An Act amending Title 42 (Judiciary and Judicial Procedure) of the Pennsylvania Consolidated Statutes, in judgments and other liens, providing for bankruptcy exemption.

This bill amends Pennsylvania law to allow individuals and married couples filing for bankruptcy to choose between federal exemptions or a new state-specific set of protections for their assets. The state options include up to $650,000 in home equity, $50,000 to $100,000 in personal property, $20,000 to $40,000 in vehicle equity, and various protected items like wages, Social Security benefits, and government assistance programs. Dollar amounts in the state exemptions will automatically adjust every three years based on inflation data published by the federal government. The changes take effect 60 days after the bill is enacted, applying to bankruptcy proceedings filed in Pennsylvania courts.