This bill amends and reenacts R.S. 47:6001(A) to establish a property tax exemption for certain aircraft, specifically those with an operating empty weight of less than seven thousand pounds owned by private individuals or limited liability companies and used in operations defined under 14 CFR Part 91. The previous language referring to "antique airplanes and certain other aircraft" has been replaced with "Tax exemption; certain aircraft," and the weight threshold has been increased from six thousand to seven thousand pounds. Additionally, the bill removes the stipulation that the aircraft not be used for commercial or profit-making purposes.

Furthermore, the bill repeals R.S. 47:6001(B) in its entirety, which contained inoperative provisions related to the exemption. The new provisions will take effect for taxable periods beginning on January 1, 2026, and the bill is set to become effective on the same date.

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)
HB493 Enrolled: 47:6001(A), 47:6001(B)
HB493 Act 283: 47:6001(A), 47:6001(B)