88R22825 AJA-F     By: Leach H.B. No. 3481     Substitute the following for H.B. No. 3481:     By:  Murr C.S.H.B. No. 3481       A BILL TO BE ENTITLED   AN ACT   relating to the exemption of certain personal property from seizure   under a court order to collect a judgment on a consumer debt.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 31.002, Civil Practice and Remedies   Code, is amended by adding Subsections (i), (j), and (k) to read as   follows:          (i)  A court order under this section to collect a judgment   on a consumer debt, as defined by Section 392.001, Finance Code,   must exempt from freezing and turnover an amount equal to $3,000 to   cover basic needs.  The order must direct the judgment creditor or   receiver to apply the exemption under this subsection to amounts in   a demand deposit account first, followed by any other accounts, as   applicable. If the judgment debtor has more than one demand deposit   account or other combination of accounts, the exemption shall be   applied to the largest demand deposit account first followed by any   additional accounts in the order of most to least funds available.   The exemption provided by this subsection includes any amounts   protected under 31 C.F.R. Part 212 and does not limit amounts   protected under other exemptions to the extent those exemptions   exceed the amount of the exemption prescribed by this subsection.   This subsection does not apply to the enforcement of court-ordered   alimony, child support, or spousal maintenance payments.          (j)  In implementing Subsection (i) with regard to an account   held by a financial institution on behalf of a judgment debtor, a   court order under this section must direct the judgment creditor or   receiver to send a levy letter to the financial institution. With   that levy letter, the judgment creditor or receiver shall include   the form promulgated under Subsection (k).          (k)  The supreme court shall promulgate a form that   establishes a simple and streamlined process for a financial   institution to implement the exemption provided by Subsection (i).          SECTION 2.  Section 31.010(a), Civil Practice and Remedies   Code, is amended to read as follows:          (a)  A financial institution that receives a request to turn   over assets or financial information of a judgment debtor to a   judgment creditor or a receiver under a turnover order or   receivership under Section 31.002 shall be provided and may rely   on:                (1)  a certified copy of the order or injunction of the   court; [or]                (2)  a certified copy of the order of appointment of a   receiver under Section 64.001, including a certified copy of:                      (A)  any document establishing the qualification   of the receiver under Section 64.021;                      (B)  the sworn affidavit under Section 64.022; and                      (C)  the bond under Section 64.023; or                (3)  a form promulgated under Section 31.002(k).          SECTION 3.  (a)  Not later than May 1, 2024, the Supreme   Court of Texas shall promulgate a form for purposes of Section   31.002(k), Civil Practice and Remedies Code, as added by this Act.          (b)  This section takes effect September 1, 2023.          SECTION 4.  Except as otherwise provided by this Act, this   Act takes effect September 1, 2024.