(735 ILCS 5/12-1001)
(from Ch. 110, par. 12-1001)
Sec. 12-1001. Personal property exempt. The following personal property,
owned by the debtor, is exempt from judgment, attachment, or distress for rent:
(a) The necessary wearing apparel, bible, school |
| books, and family pictures of the debtor and the debtor's dependents;
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(b) The debtor's equity interest, not to exceed
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| $4,000 in value, in any other property;
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(c) The debtor's interest, not to exceed $2,400 in
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| value, in any one motor vehicle;
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(d) The debtor's equity interest, not to exceed
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| $1,500 in value, in any implements, professional books, or tools of the trade of the debtor;
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(e) Professionally prescribed health aids for the
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| debtor or a dependent of the debtor;
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(f) All proceeds payable because of the death of the
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| insured and the aggregate net cash value of any or all life insurance and endowment policies and annuity contracts payable to a wife or husband of the insured, or to a child, parent, or other person dependent upon the insured, or to a revocable or irrevocable trust which names the wife or husband of the insured or which names a child, parent, or other person dependent upon the insured as the primary beneficiary of the trust, whether the power to change the beneficiary is reserved to the insured or not and whether the insured or the insured's estate is a contingent beneficiary or not;
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(g) The debtor's right to receive:
(1) a social security benefit, unemployment
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| compensation, or public assistance benefit;
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(2) a veteran's benefit;
(3) a disability, illness, or unemployment
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(4) alimony, support, or separate maintenance, to
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| the extent reasonably necessary for the support of the debtor and any dependent of the debtor.
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(h) The debtor's right to receive, or property that
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(1) an award under a crime victim's reparation
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(2) a payment on account of the wrongful death of
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| an individual of whom the debtor was a dependent, to the extent reasonably necessary for the support of the debtor;
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(3) a payment under a life insurance contract
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| that insured the life of an individual of whom the debtor was a dependent, to the extent reasonably necessary for the support of the debtor or a dependent of the debtor;
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(4) a payment, not to exceed $15,000 in value, on
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| account of personal bodily injury of the debtor or an individual of whom the debtor was a dependent; and
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(5) any restitution payments made to persons
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| pursuant to the federal Civil Liberties Act of 1988 and the Aleutian and Pribilof Island Restitution Act, P.L. 100-383.
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For purposes of this subsection (h), a debtor's right
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| to receive an award or payment shall be exempt for a maximum of 2 years after the debtor's right to receive the award or payment accrues; property traceable to an award or payment shall be exempt for a maximum of 5 years after the award or payment accrues; and an award or payment and property traceable to an award or payment shall be exempt only to the extent of the amount of the award or payment, without interest or appreciation from the date of the award or payment.
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(i) The debtor's right to receive an award under Part
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| 20 of Article II of this Code relating to crime victims' awards.
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(j) Moneys held in an account invested in the
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| Illinois College Savings Pool of which the debtor is a participant or donor and funds invested in an ABLE Account as defined by Section 529 of the Internal Revenue Code, except the following non-exempt contributions:
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(1) any contribution to such account by the
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| debtor as participant or donor that is made with the actual intent to hinder, delay, or defraud any creditor of the debtor;
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(2) any contributions to such account by the
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| debtor as participant during the 365 day period prior to the date of filing of the debtor's petition for bankruptcy that, in the aggregate during such period, exceed the amount of the annual gift tax exclusion under Section 2503(b) of the Internal Revenue Code of 1986, as amended, in effect at the time of contribution; or
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(3) any contributions to such account by the
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| debtor as participant during the period commencing 730 days prior to and ending 366 days prior to the date of filing of the debtor's petition for bankruptcy that, in the aggregate during such period, exceed the amount of the annual gift tax exclusion under Section 2503(b) of the Internal Revenue Code of 1986, as amended, in effect at the time of contribution.
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For purposes of this subsection (j), "account"
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| includes all accounts for a particular designated beneficiary, of which the debtor is a participant or donor.
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Money due the debtor from the sale of any personal property that was
exempt from judgment, attachment, or distress for rent at the
time of the sale is exempt from attachment and garnishment to the same
extent that the property would be exempt had the same not been sold by
the debtor.
If a debtor owns property exempt under this Section and he or she purchased
that property with the intent of converting nonexempt property into exempt
property or in fraud of his or her creditors, that property shall not be
exempt from judgment, attachment, or distress for rent. Property acquired
within 6 months of the filing of the petition for bankruptcy shall be presumed
to have been acquired in contemplation of bankruptcy.
The personal property exemptions set forth in this Section shall apply
only to individuals and only to personal property that is used for personal
rather than business purposes. The personal property exemptions set forth
in this Section shall not apply to or be allowed
against any money, salary, or wages due or to become due to the debtor that
are required to be withheld in a wage
deduction proceeding under Part 8 of this
Article XII.
(Source: P.A. 100-922, eff. 1-1-19 .)
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