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 change aims to expand eligibility for the homestead exemption, providing more flexibility for married couples and individuals who own their homes through LLCs. The amendment is intended to ensure that these homeowners can benefit from the same protections and exemptions as those who own their homes directly.

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