79th Texas Legislature, Regular Session, House Bill 330, Chapter 130 Page: 1 of 4
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H.B. No. 330
CHAPTER 130
1 AN ACT
2 relating to exempting health savings accounts from seizure for
3 satisfaction of debts.
4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
5 SECTION 1. The heading to Section 42.0021, Property Code,
6 is amended to read as follows:
7 Sec. 42.0021. ADDITIONAL EXEMPTION FOR CERTAIN SAVINGS
8 PLANS [RETIREMENT- .LAN.]
9 SECTION 2. Sections 42.0021(a) and (b), Property Code, are
10 amended to read as follows:
11 (a) In addition to the exemption prescribed by Section
12 42.001, a person's right to the assets held in or to receive
13 payments, whether vested or not, under any stock bonus, pension,
14 profit-sharing, or similar plan, including a retirement plan for
15 self-employed individuals, and under any annuity or similar
16 contract purchased with assets distributed from that type of plan,
17 and under any retirement annuity or account described by Section
18 403(b) or 408A of the Internal Revenue Code of 1986, and under any
19 individual retirement account or any individual retirement
20 annuity, including a simplified employee pension plan, and under
21 any health savings account described by Section 223 of the Internal
22 Revenue Code of 1986, is exempt from attachment, execution, and
23 seizure for the satisfaction of debts unless the plan, contract, or
24 account does not qualify under the applicable provisions of the
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Texas. Legislature. House of Representatives. 79th Texas Legislature, Regular Session, House Bill 330, Chapter 130, legislative document, May 24, 2005; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth156984/m1/1/: accessed April 19, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.