31 Jul Did The Louisiana Legislature Increase The Homestead Exemption?
In a recent article I reported on two proposals before the Louisiana Legislature to increase the homestead exemption: one bill would have increased the exemption to $100,000.00 while the second bill would have made the homestead exemption unlimited.
The bad news is that neither of these bills passed in its original form.
However, the Louisiana Legislature did approve an increase in the exemption from $25,000.00 to $35,000.00.
In addition, the exemption law now prohibits credit card lenders from selling a homestead to satisfy a credit card debt.
The bill was signed by Louisiana Governor Bobby Jindal on June 30, 2009 and became effective with his signature.
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