* "Most" doesn't have a common homophone. We could use "mote" (a tiny speck), but that doesn't fit the context.
* "Important" also lacks a clear homophone. We could stretch and use "importune" (to plead urgently), but that doesn't quite work.
* "Statehouse" is the tricky one. "Statehouse" is a compound word, making it difficult to find a homophone for the whole thing.
Here are a couple of options, but they're not perfect:
* "Most important stakehouse" (A restaurant specializing in steak)
* "Most important statehouse" (A play on words using "stake" for the political sense)
Ultimately, finding a perfect homophone pair for "most important statehouse" is likely impossible. The phrase is simply too specific.