Exemptions from garnishment; minimum protected account balance, certain benefit payments.

This bill makes it harder for creditors to seize money from a person's bank account to satisfy debts. It increases the amount of money that is automatically protected from garnishment to $5,000. It also adds protections for certain government benefit payments, like Social Security, making it more difficult to garnish these funds even if they are directly deposited. The likely effect is that individuals, particularly those with lower incomes or receiving benefits, will have a more stable financial cushion and be better protected from aggressive debt collection practices that could leave them without essential funds. This aims to prevent people from falling into deeper financial hardship due to debt.