LA HB543

Amends R.S. 47:1703(A)(1) and 1710(C) to allow the homestead exemption amount to include any greater amount authorized by a parish, rather than being fixed at $7,500 of assessed valuation.

Updates the residential lessee tax credit to reference "the amount of the homestead exemption" applicable in the parish, replacing the fixed $7,500 assessed valuation figure.

Current law exempts the first $7,500 of assessed value ($75,000 fair market value) of a bona fide homestead from state, parish, and special ad valorem taxes.

Effective date is January 1, 2027, contingent upon voter adoption of a related constitutional amendment to Article VII originating from a companion House Bill in the 2026 Regular Session.