SB 1138: Civil procedure: bankruptcy; bankruptcy exemptions; modify. Amends sec. 5451 of 1961 PA 236 (MCL 600.5451).
SB 1138 status: Introduced — SENATE CO-SPONSOR(S) NAMED: STEPHANIE CHANG (updated Aug 26, 2026).
What this bill does
Overall score
Bill summary
OfficialCivil procedure: bankruptcy; bankruptcy exemptions; modify. Amends sec. 5451 of 1961 PA 236 (MCL 600.5451).. Currently in Senate.
Key analysis
Impact analysis
Environment
Benefits
- No material environmental impact identified.
Risks
- No material environmental impact identified.
Economy
Benefits
- May align exemptions with current economic conditions.
- Potentially reduces long-term financial dependency for debtors.
Risks
- Potential negative impact on creditor recovery rates.
- Possible tightening of lending requirements by creditors.
Society
Benefits
- Enhances financial security for individuals facing insolvency.
- Helps households retain essential assets during bankruptcy.
Risks
- Legal complexity may increase for some filers.
- Potential for disparate application depending on interpretation.
How trustworthy & consequential it is
Source
OpenStates
Confidence
lowlow
Analysis status
OpenStates summary
Changes to bankruptcy exemptions may indirectly impact local credit market availability.
Full bill text was not provided, limiting analysis to the stated intent.
Where it stands
Introduced
CurrentSENATE CO-SPONSOR(S) NAMED: STEPHANIE CHANG
Committee
UpcomingFloor
UpcomingGovernor
UpcomingEnacted
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