The bill amends the Homestead Exemption Act to allow homesteads owned by limited liability companies (LLCs) to qualify for the homestead exemption under specific conditions. The new legal language specifies that a member of an LLC can claim the homestead exemption if there are two members who are a married couple, or if there is a single member who is a natural person that is either married or the head of a family.

This amendment expands the eligibility for the homestead exemption, which was previously limited to individual homeowners, thereby providing more flexibility for married couples and family heads who own property through an LLC. The changes aim to ensure that these individuals can benefit from the same tax relief as traditional homeowners.

Statutes affected:
HB 1729: 16-66-210
Act 679: 16-66-210