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Ohio Senate bill softens sting of bankruptcy
Filers could keep $20,200 in equity
Friday,
March 14, 2008 3:18 AM
THE COLUMBUS DISPATCH
A bill that would allow people in bankruptcy to keep more of their assets and one that requires
doctors to offer ultrasound pictures to women preparing to have abortions passed the Ohio Senate
during a rare Thursday session.
In Ohio, a person filing for bankruptcy can keep $5,000 worth of equity from his or her home, an amount that has not been updated in nearly 30 years. Senate Bill 281, which passed the chamber unanimously, would bump that to $20,200, bringing it and other exemptions in line with the current federal figures. "It is our hope that, by giving folks an opportunity to protect more of their meager assets when they go through the bankruptcy wringer, we'll be giving more people a fresh start," said Sen. Bill Seitz, R-Cincinnati. Only four other states also have $5,000 homestead bankruptcy exemptions, and no state's is lower. Attorney General Marc Dann and state Treasurer Richard Cordray testified in favor of the bill, which now goes to the House, where there is concern about its chances. "It might have a little bit tougher sledding over there because there's some very prominent folks over there who are creditor attorney types," Seitz said. Sen. Jeff Jacobson, R-Vandalia, praised his colleagues for rejecting a proposed amendment from "some of those dreaded creditor attorneys" who wanted to increase from five to 10 years the length of time a bankruptcy judgment is effective. "That extra millstone around people's necks is exactly the opposite of what we should be looking to do in the bill," he said. "I am concerned we will see it again in the House." The Senate also approved House Bill 314, which says that if an ultrasound is performed, a doctor must offer a woman who is planning to have an abortion the opportunity to view it. Sen. Gary Cates, a West Chester Republican, said it's designed to give women more information before they make a medical decision. He also called it an attempt to find some common ground in the abortion debate. The bill passed 24-8. All "no" votes were cast by Democrats, including Senate Minority Leader Ray Miller of Columbus. In other business, the Senate unanimously approved the capital reappropriations bill, which ensures that previously approved, ongoing capital projects continue to get their funding. It also includes $144.5 million in new bonding authority to support local infrastructure projects. The bill now goes to Gov. Ted Strickland for his signature. Story toolsToday’s Top Stories
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