AB547: Bill Text

LRB-2350/3

JK:jld:rs

2005 - 2006 LEGISLATURE

2005 Assembly BILL 547

July 7, 2005 - Introduced by Representatives Wieckert, Davis, Musser, Hahn, Townsend, Petrowski, Towns, Nass, Mursau, Ott, Albers, Hines and Van Roy, cosponsored by Senators Leibham and Roessler. Referred to Committee on Agriculture. Referred to Joint Survey Committee on Tax Exemptions.

AB547,1,4 An Act to renumber 77.51 (1); and to create 77.51 (1bm), 77.54 (30) (a) 7. and 77.54 (48) of the statutes; relating to: sales and use tax exemptions for electricity used in agricultural biotechnology and for vitamins, feed supplements, and hormones used on livestock.

Analysis by the Legislative Reference Bureau

This bill creates sales and use tax exemptions for electricity used in agricultural biotechnology and for vitamins, supplements, and hormones used on farm livestock.

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:

AB547, s. 1 Section 1. 77.51 (1) of the statutes is renumbered 77.51 (1d).

AB547, s. 2 Section 2. 77.51 (1bm) of the statutes is created to read:

AB547,2,6 77.51 (1bm) "Agricultural biotechnology" means the application of technologies, including recombinant deoxyribonucleic acid techniques, biochemistry, molecular and cellular biology, genetics, genetic engineering, biological cell fusion techniques, and new bioprocesses, that use living organisms or parts of organisms to produce or modify products, improve plants or animals used in agriculture, develop microorganisms for specific agricultural uses, identify targets for small molecule pharmaceutical development for agricultural use, or transform biological systems into useful agricultural processes and products.

AB547, s. 3 Section 3. 77.54 (30) (a) 7. of the statutes is created to read:

AB547,2,9 77.54 (30) (a) 7. Electricity consumed in research or product development for agricultural biotechnology in this state.

AB547, s. 4 Section 4. 77.54 (48) of the statutes is created to read:

AB547,2,12 77.54 (48) The gross receipts from the sale of and the storage, use, or other consumption of vitamins, feed supplements, and hormones used on farm livestock.

AB547, s. 5 Section 5. Effective date.

AB547,2,14 (1) This act takes effect on July 1, 2007.

AB547,2,15 (End)