LRB-2345/2
MES&RAC:jld:rs
2003 - 2004 LEGISLATURE
June 3, 2003 - Introduced by Senators Reynolds, Zien, Roessler and S.
Fitzgerald, cosponsored by Representatives Kreibich, Gundrum, Jensen,
Suder, Pettis, Weber, Freese, Olsen, Bies, J. Wood and Musser. Referred to
Committee on Homeland Security, Veterans and Military Affairs and
Government Reform.
SB184,1,2
1An Act to create 16.502, 25.17 (1) (ty) and 25.38 of the statutes;
relating to:
2creating a fund to reduce state revenue shortfalls.
Analysis by the Legislative Reference Bureau
This bill creates a separate nonlapsible trust fund to which any taxpayer may
contribute any amount of money. The fund is called the tax-me-more fund, and
amounts contributed to the fund may be used only to reduce the state's revenue
shortfalls.
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:
SB184, s. 1
3Section
1. 16.502 of the statutes is created to read:
SB184,1,8
416.502 Transfers to the general fund from the tax-me-more fund. If the
5secretary determines under s. 16.50 (7) (a) that previously authorized expenditures
6will exceed revenues in the current or forthcoming fiscal year by more than 0.5% of
7the estimated general purpose revenue appropriations for that fiscal year, the
8secretary shall transfer all moneys in the tax-me-more fund to the general fund.
SB184, s. 2
1Section
2. 25.17 (1) (ty) of the statutes is created to read:
SB184,2,22
25.17
(1) (ty) Tax-me-more fund (s. 25.38);
SB184, s. 3
3Section
3. 25.38 of the statutes is created to read:
SB184,2,8
425.38 Tax-me-more fund. There is established a separate nonlapsible trust
5fund designated as the tax-me-more fund, to consist of all moneys contributed by
6taxpayers, and which shall be sent to the department of revenue, for the purpose of
7reducing the state's revenue shortfalls. Moneys in the fund may be used only to make
8the transfer under s. 16.502.
