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LA HB961
Bill
Status
3/10/2026
Primary Sponsor
Les Farnum
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AI Summary
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Extends the ad valorem property tax exemption for homeowners aged 65 or older to trusts holding naked ownership of the homestead, provided the settlor retains a usufruct and continues to occupy the property.
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Requires the settlor to have been the immediate prior owner of the homestead and to meet all eligibility conditions under Article VII, Section 21(P) of the Louisiana Constitution.
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Applies to taxable years beginning on or after January 1, 2028.
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Effectiveness is contingent upon voter adoption of a related constitutional amendment (HB 514 of 2026 Regular Session) at a statewide election.
Legislative Description
Extends eligibility to certain trusts for an ad valorem tax exemption for a property owner who is at least sixty-five years of age or older (OR SEE FISC NOTE LF RV)
TAX/AD VALOREM TAX
Last Action
Read by title, under the rules, referred to the Committee on Ways and Means.
3/11/2026