AB808: Bill Text

LRB-5232/1

JTK:skg:ks

1995 - 1996 LEGISLATURE

1995 Assembly BILL 808

January 22, 1996 - Introduced by Representatives Powers, Hanson, Huebsch, Handrick, Kelso, Seratti, F. Lasee, Hutchison, Gunderson, Hahn, Skindrud, Silbaugh, Hoven, Olsen and Zukowski, cosponsored by Senators Drzewiecki, Panzer, Cowles and Petak. Referred to Joint committee on Finance.

AB808,1,2 An Act to create 25.17 (1) (kw) and 25.62 of the statutes; relating to: creation of a property tax relief fund and transferring moneys to that fund.

Analysis by the Legislative Reference Bureau

This bill creates a separate state fund called the property tax relief fund. The purpose of the fund is to provide state property tax relief during the 1997-99 fiscal biennium. The bill transfers $155,000,000 from the general fund to the property tax relief fund but does not appropriate the moneys.

Currently, the unappropriated moneys in the general fund are not available for expenditure. Under the bill, the unappropriated moneys in the property tax relief fund are not available for expenditure.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB808, s. 1 Section 1. 25.17 (1) (kw) of the statutes is created to read:

AB808,1,4 25.17 (1) (kw) Property tax relief fund (s. 25.62);

AB808, s. 2 Section 2. 25.62 of the statutes is created to read:

AB808,1,9 25.62 Property tax relief fund. All moneys transferred from the general fund to the property tax relief fund constitute the property tax relief fund. Moneys in the fund are reserved to provide state property tax relief during the 1997-99 fiscal biennium.

AB808, s. 3 Section 3. Appropriation changes.

AB808,2,3 (1) Transfer to property tax relief fund. There is transferred from the general fund to the property tax relief fund $155,000,000.

AB808,2,4 (End)