House Bill No. 493, introduced by Representative Crews, amends the existing property tax exemption for certain private aircraft in Louisiana. The bill modifies R.S. 47:6001(A) to extend the exemption to aircraft with an operating empty weight of 7,000 pounds or less, which can now be owned by both private individuals and limited liability companies. The previous law only applied to aircraft weighing less than 6,000 pounds and owned by private individuals, and it also specified that the aircraft should not be used for commercial or profit-making purposes. The bill further repeals R.S. 47:6001(B), which contained inoperative provisions related to the exemption.

The proposed changes will take effect on January 1, 2026, and will apply to taxable periods beginning on that date. This legislation aims to modernize and broaden the scope of the property tax exemption for private aircraft, aligning it with current operational standards and ownership structures.

Statutes affected:
HB493 Original: 47:6001(A), 47:6001(B)
HB493 Engrossed: 47:6001(A), 47:6001(B)
HB493 Reengrossed: 47:6001(A), 47:6001(B)