SF 2054: Related to bankruptcy and personal property exemption amounts and including effective date provisions

What it does

This bill relates to bankruptcy and personal property exemption amounts. The bill expands eligibility for the homestead exemption from judicial sale to include any debtor to whom the law of the state applies on the date a petition in bankruptcy is filed. The bill similarly expands eligibility for personal property exemptions for a debtor to include a debtor to whom the law of this state applies on the date a petition in bankruptcy is filed. The bill adjusts the personal property exemption limits for wedding or engagement rings, jewelry, private libraries, family bibles, portraits, pictures, paintings, apparel, household goods, life insurance policies, policies of life, accident, health, or disability insurance, motor vehicles, state and federal tax refunds, proper implements, professional books, tools of the trade, cash, bank deposits, credit union share drafts, implements and equipment of normal farming operation, livestock and livestock feed, residential rental deposits, residential utility deposits, and prepaid rent.

Senate subcommittee · named January 15, 2026

• Sen. David D. Rowley (R) · david.rowley@legis.iowa.gov
• Sen. Janet Petersen (D) · janet.petersen@legis.iowa.gov
• Sen. Jeff Taylor (R) · jeff.taylor@legis.iowa.gov

In plain words

1. January 14, 2026Filed in the Senate and sent to the Judiciary committee
2. January 15, 2026Senate subcommittee named: Rowley, Petersen and Taylor
3. January 21, 2026Subcommittee recommended passing it