HB1752

House Bill 1752 amends existing Arkansas law regarding the exemption of retirement and savings plans from attachment, execution, and seizure for the satisfaction of debts. The bill expands current protections by explicitly adding a category of 'qualified savings plans' that are shielded from legal judgments. These newly protected assets include health savings accounts (HSAs), inherited individual retirement accounts or annuities, qualified tuition programs (529 plans), ABLE accounts (529A programs), and Coverdell education savings accounts. The bill stipulates that these accounts are exempt to the extent that they are either exempt from federal income tax or have taxes deferred until the benefits are paid. It generally maintains the existing structure of exempting retirement plans that qualify under the Internal Revenue Code while broadening the scope to include various specific tax-advantaged savings vehicles.