| 3 | 2 | | *JLL281* 03/07/2025 3:09:43 PM JLL281 |
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| 4 | 3 | | State of Arkansas 1 |
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| 5 | 4 | | 95th General Assembly A Bill 2 |
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| 6 | 5 | | Regular Session, 2025 HOUSE BILL 1729 3 |
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| 7 | 6 | | 4 |
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| 8 | 7 | | By: Representative R. Burkes 5 |
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| 9 | 8 | | By: Senator J. Bryant 6 |
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| 10 | 9 | | 7 |
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| 11 | 10 | | For An Act To Be Entitled 8 |
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| 12 | 11 | | AN ACT TO AMEND THE HOMESTEAD EXEMPTION ACT; TO 9 |
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| 13 | 12 | | PROVIDE THAT A HOMESTEAD OWNED BY A LIMITED LIABILITY 10 |
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| 14 | 13 | | COMPANY IS ELIGIBLE FOR THE HOMESTEAD EXEMPTION IN 11 |
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| 15 | 14 | | CERTAIN CIRCUMSTANCES; AND FOR OTHER PURPOSES. 12 |
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| 16 | 15 | | 13 |
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| 17 | 16 | | 14 |
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| 18 | 17 | | Subtitle 15 |
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| 19 | 18 | | TO AMEND THE HOMESTEAD EXEMPTION ACT; 16 |
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| 20 | 19 | | AND TO PROVIDE THAT A HOMESTEAD OWNED BY 17 |
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| 21 | 20 | | A LIMITED LIABILITY COMPANY IS ELIGIBLE 18 |
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| 22 | 21 | | FOR THE HOMESTEAD EXEMPTION IN CERTAIN 19 |
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| 23 | 22 | | CIRCUMSTANCES. 20 |
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| 24 | 23 | | 21 |
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| 25 | 24 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 22 |
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| 26 | 25 | | 23 |
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| 27 | 26 | | SECTION 1. Arkansas Code ยง 16 -66-210, concerning the Homestead 24 |
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| 28 | 27 | | Exemption Act, is amended to add an additional subsection to read as follows: 25 |
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| 29 | 28 | | (e) The homestead exemption provided in this section may be claimed by 26 |
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| 30 | 29 | | a member of a limited liability company that owns the homestead if: 27 |
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| 31 | 30 | | (1) There are two (2) members of the limited liability company, 28 |
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| 32 | 31 | | and the members are a married couple; or 29 |
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| 33 | 32 | | (2) There is only one (1) member of the limited liability 30 |
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| 34 | 33 | | company, and that member is a natural person who is married or the head of a 31 |
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| 35 | 34 | | family. 32 |
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| 36 | 35 | | 33 |
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| 37 | 36 | | 34 |
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