Oregon Sentate Changes Business Bankruptcy

According to an article on Oregon Live, the Oregon Senate on Monday unanimously voted to increase the dollar value of business tools that can be exempted from having to be sold in bankruptcy cases.

Senate Bill 935, which now moves to the House, raises the exemption for business tools - such as for plumbers or auto mechanics - from $3,000 to $5,000.

Sen. Richard Devlin, D-Tualatin, said the bill would help struggling small businesses maintain the tools they need to get back on their feet after a bankruptcy.  He said the value of the exemption had not been raised in Oregon in 20 years and that Washington and California have higher exemption limits.

Posted in business bankruptcy , Oregon Sentate , Senate Bill 935