House Bill No. 24

Introduced By hagener

A Bill for an Act entitled: "An Act increasing the homestead exemption from $40,000 to $60,000; amending section

70-32-104, MCA; and providing an applicability date."

Be it enacted by the Legislature of the State of Montana:

Section 1.  Section 70-32-104, MCA, is amended to read:

"70-32-104.   Limitation on value. (1) A homestead may not exceed in value $40,000 $60,000. In any proceedings a proceeding instituted to determine the value of such the homestead, the assessed value of the land with included appurtenances, if any, and of the dwelling house as appears on the last completed last-completed assessment roll preceding the institution of such proceedings shall be the proceeding is prima facie evidence of the value of the property claimed as a homestead.

(2)  If a claimant who is an owner of an undivided interest in real property claims a homestead exemption, he the claimant is limited to an exemption amount proportional to his the claimant's undivided interest."

NEW SECTION. Section 2.  Applicability. [Section 1] applies to judgments obtained and bankruptcy proceedings begun after October 1, 1997.