AB242: Bill Text

LRB-1386/3

JK:lmk:jf

2005 - 2006 LEGISLATURE

2005 Assembly BILL 242

March 18, 2005 - Introduced by Representatives McCormick, Musser, Albers, Bies, Gronemus, Gunderson, Hahn, Hines, Kleefisch, Krawczyk, Nischke, Suder, Van Roy and Wood, cosponsored by Senators A. Lasee, Lassa, Lazich, Leibham, Roessler and Wirch. Referred to Joint Survey Committee on Tax Exemptions.

AB242,1,2 An Act to create 70.11 (43) of the statutes; relating to: creating a property tax exemption for real property owned by a disabled veteran.

Analysis by the Legislative Reference Bureau

This bill creates a property tax exemption for real property owned by a veteran who is receiving at least 60 percent disability compensation from the U.S. Department of Veterans Affairs or by the veteran's unmarried surviving spouse, if the property is not used for profit.

This bill will be referred to the Joint Survey Committee on Tax Exemptions for a detailed analysis, which will be printed as an appendix to this bill.

For further information see the state and local 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:

AB242, s. 1 Section 1. 70.11 (43) of the statutes is created to read:

AB242,1,7 70.11 (43) Real property owned by a veteran who is receiving at least 60 percent disability compensation from the U.S. department of veterans affairs under 38 USC 1114 due to a permanent and total service-connected disability or by the veteran's unmarried surviving spouse, if the property is not used for pecuniary profit.

AB242, s. 2 Section 2. Initial applicability.

AB242,2,2 (1) This act first applies to the property tax assessments as of January 1, 2005.

AB242,2,3 (End)