House Bill No. [insert bill number] amends the existing property tax exemption laws for certain aircraft in Louisiana. Specifically, it modifies R.S. 47:6001(A) to extend the exemption from personal property tax to aircraft weighing less than 6,000 pounds that are owned not only by private individuals but also by limited liability companies, provided these aircraft are not used for commercial or profit-making purposes. Additionally, the bill repeals R.S. 47:6001(B), which contained inoperative provisions related to the exemption.

The new provisions will take effect on January 1, 2026, and will apply to taxable periods beginning on that date. This change aims to clarify and modernize the tax exemption framework for private aircraft ownership in Louisiana, ensuring that limited liability companies can also benefit from the same tax relief previously available only to individual owners.

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