LRB-0711/P4
JK:jld:ph
2011 - 2012 LEGISLATURE
DOA:......Byrnes, BB0148 - Deposit motor vehicle sales tax into the transportation fund
For 2011-13 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
Taxation
Other taxation
Under this bill, a percentage of the sales and use tax collected on the sale or use of motor vehicle parts and accessories is deposited into the transportation fund.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 25.40 (1) (bn) of the statutes is created to read:
25.40 (1) (bn) All moneys deposited under s. 77.61 (21).
Section
2. 77.61 (21) of the statutes is created to read:
77.61 (21) Beginning with the taxes that the department receives on July 1, 2012, the department shall annually estimate the amount of, and deposit into the transportation fund, the following percentages of the taxes collected under ss. 77.52 and 77.53 on the sale, lease, or use of motor vehicles and motor vehicle parts and accessories:
(a) For fiscal year 2012-13, 7.5 percent, except that the amount deposited under this paragraph may not exceed $35,127,000.
(b) For fiscal year 2013-14, 10 percent.
(c) For fiscal year 2014-15, 15 percent.
(d) For fiscal year 2015-16, 20 percent.
(e) For fiscal year 2016-17, 25 percent.
(f) For fiscal year 2017-18, 30 percent.
(g) For fiscal year 2018-19, 35 percent.
(h) For fiscal year 2019-20, 40 percent.
(i) For fiscal year 2020-21, 45 percent.
(j) For fiscal year 2021-22, and for each fiscal year thereafter, 50 percent.
(End)
