Record of Committee Proceedings
Joint Survey Committee on Tax Exemptions
Senate Bill 111
Relating to: state finances and appropriations, constituting the executive budget act of the 2021 legislature.
By joint committee on Finance, by request of Governor Tony Evers.
June 22, 2021 Referred to Joint Survey Committee on Tax Exemptions
June 25, 2021 Executive Session Held by Paper Ballot
Present: (9) Senator Testin; Representative August; Senators Jagler and L. Taylor; Representatives Swearingen and Goyke; Public Member Kessler; Secretary Barca; Public Member Keenan.
Absent: (0) None.
Excused: (0) None.
Moved by Senator Testin, seconded by Representative August that Senate Bill 111 be recommended for Move that the committee finds the following tax exemption provisions in AB68/SB111 items are appropriate public policy: the AmeriCorps Awards Subtraction, the Exemption for Sweetened Dried Fruit, and the National Guard and Reserve Subtraction..
Ayes: (9) Senator Testin; Representative August; Senators Jagler and L. Taylor; Representatives Swearingen and Goyke; Public Member Kessler; Secretary Barca; Public Member Keenan.
Noes: (0) None.
MOVE THAT THE COMMITTEE FINDS THE FOLLOWING TAX EXEMPTION PROVISIONS IN AB68/SB111 ITEMS ARE APPROPRIATE PUBLIC POLICY: THE AMERICORPS AWARDS SUBTRACTION, THE EXEMPTION FOR SWEETENED DRIED FRUIT, AND THE NATIONAL GUARD AND RESERVE SUBTRACTION. RECOMMENDED, Ayes 9, Noes 0
Moved by Senator Testin, seconded by Representative August that Senate Bill 111 be recommended for Move that the following tax exemptions included in SB68/AB111 are appropriate public policy: Loss limitation for taxpayers other than corporations, Amortization of research and experimental expenditures, Accounting rules for accrual method taxpayers, Limitation on deduction for business interest, Limitation on deduction for entertainment and meals, Limitation on deduction for FDIC premiums, Modification of the limitation for highly paid individuals, Limit on capital gains exclusion, Medical care insurance subtraction for self-employed individuals, Limit on private school tuition deduction, Limit on dividends received deduction, first-time homebuyer account subtraction, Exemption for diapers, Exemption for battery storage, Exemption for prairie/wetland services, Repeal of clay pigeon/game bird exemption, and Repeal of exemption for farm-raised deer..
Ayes: (5) Senator L. Taylor; Representative Goyke; Public Member Kessler; Secretary Barca; Public Member Keenan.
Noes: (4) Senator Testin; Representative August; Senator Jagler; Representative Swearingen.
MOVE THAT THE FOLLOWING TAX EXEMPTIONS INCLUDED IN SB68/AB111 ARE APPROPRIATE PUBLIC POLICY: LOSS LIMITATION FOR TAXPAYERS OTHER THAN CORPORATIONS, AMORTIZATION OF RESEARCH AND EXPERIMENTAL EXPENDITURES, ACCOUNTING RULES FOR ACCRUAL METHOD TAXPAYERS, LIMITATION ON DEDUCTION FOR BUSINESS INTEREST, LIMITATION ON DEDUCTION FOR ENTERTAINMENT AND MEALS, LIMITATION ON DEDUCTION FOR FDIC PREMIUMS, MODIFICATION OF THE LIMITATION FOR HIGHLY PAID INDIVIDUALS, LIMIT ON CAPITAL GAINS EXCLUSION, MEDICAL CARE INSURANCE SUBTRACTION FOR SELF-EMPLOYED INDIVIDUALS, LIMIT ON PRIVATE SCHOOL TUITION DEDUCTION, LIMIT ON DIVIDENDS RECEIVED DEDUCTION, FIRST-TIME HOMEBUYER ACCOUNT SUBTRACTION, EXEMPTION FOR DIAPERS, EXEMPTION FOR BATTERY STORAGE, EXEMPTION FOR PRAIRIE/WETLAND SERVICES, REPEAL OF CLAY PIGEON/GAME BIRD EXEMPTION, AND REPEAL OF EXEMPTION FOR FARM-RAISED DEER. RECOMMENDED, Ayes 5, Noes 4
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Heather Smith
Committee Clerk
