2020 New York Laws
CVP - Civil Practice Law and Rules
Article 52 - Enforcement of Money Judgments
5253 - Cost of Living Adjustment for Personal and Real Property Exempt From Application to the Satisfaction of Money Judgments and Exemptions in Bankruptcy.

§  5253.  Cost  of  living  adjustment  for personal and real property
exempt from application to  the  satisfaction  of  money  judgments  and
exemptions  in  bankruptcy.  (a)  Beginning on April first, two thousand
twelve,  and  at  each  three-year  interval  ending  on   April   first
thereafter,  the  dollar  amount  of  the exemption provided in sections
fifty-two hundred five and fifty-two hundred six  of  this  article  and
sections  two  hundred  eighty-two  and  two hundred eighty-three of the
debtor and creditor law shall be adjusted as provided in subdivision (b)
of this section.
  (b) The superintendent  of  financial  services  shall  determine  the
amount of the adjustment based on the change in the consumer price index
for  all  urban  consumers,  New  York-Northern  New Jersey-Long Island,
NY-NJ-CT-PA, published by the U.S. department of labor, bureau of  labor
statistics,  for  the  most  recent three-year period ending on December
thirty-first preceding the adjustment, with each adjusted amount rounded
to the nearest twenty-five dollars.
  (c) Beginning on  April  first,  two  thousand  twelve,  and  at  each
three-year interval ending on April first thereafter, the superintendent
of  financial  services  shall  publish the current dollar amount of the
applicable exemption provided in this article, together with the date of
the next scheduled adjustment. The publication shall be substantially in
the form set forth below:
  "Current  dollar  amount  of  exemption  from   application   to   the
satisfaction  of  money  judgments under New York civil practice law and
rules sections 5205 and 5206 and exemptions in bankruptcy  under  debtor
and creditor law sections 282 and 283:
  The  following  is  the  current  dollar amount of exemptions from the
satisfaction of money judgments  under  civil  practice  law  and  rules
sections  5205  and  5206 and under debtor and creditor law sections 282
and 283:
  (amount)
  This amount is effective on April 1, (year) and  shall  not  apply  to
cases commenced before April 1, (year). The next adjustment is scheduled
for  April  1,  (year). Such adjustments shall not apply with respect to
restraining notices served or executions effected before the date of the
adjustment.  Nothing  in  this  section  limits  the  judgment  debtor's
exemption rights in this section or under any other law."