AB894: Bill Text

LRB-0433/1

JK:lmk&jld:rs

2005 - 2006 LEGISLATURE

2005 Assembly BILL 894

December 29, 2005 - Introduced by Representatives Black, Boyle, Lehman, Travis, Cullen, Pocan, Berceau, Seidel and Fields, cosponsored by Senators Carpenter and Hansen. Referred to Joint Survey Committee on Tax Exemptions.

AB894,1,2 An Act to create 77.54 (14v) of the statutes; relating to: a sales tax and use tax exemption for nonprescription drugs.

Analysis by the Legislative Reference Bureau

This bill creates a sales tax and use tax exemption for nonprescription drugs.

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:

AB894, s. 1 Section 1. 77.54 (14v) of the statutes is created to read:

AB894,1,7 77.54 (14v) The gross receipts from the sale of and the storage, use, or other consumption of drugs that may be sold without a prescription and that are for human consumption only, prepackaged for use by consumers, and labeled in accordance with the requirements of state and federal law.

AB894, s. 2 Section 2. Effective date.

AB894,2,2 (1) Nonprescription drugs. This act takes effect on the first day of the 2nd month beginning after publication.

AB894,2,3 (End)