LRB-2196/2
JK:wlj:jf
2007 - 2008 LEGISLATURE
May 21, 2007 - Introduced by Representatives Gunderson, Staskunas, Ballweg,
Bies, Jeskewitz, Lothian, Mursau, Nerison and Townsend, cosponsored by
Senators Sullivan, Kanavas, Darling and
Roessler. Referred to Committee
on Tourism, Recreation and State Properties.
AB349,1,3
1An Act to create 70.11 (44) of the statutes;
relating to: a property tax exemption
2for property owned by a nonprofit corporation that operates an Olympic ice
3training center.
Analysis by the Legislative Reference Bureau
Under current law, property owned by the state and leased to a nonprofit
corporation that operates an Olympic ice training center is exempt from property
taxes. This bill creates a property tax exemption for property owned by a nonprofit
corporation that operates an Olympic ice training center on land purchased by the
state, if the property is located or primarily used at the center.
Because this bill relates to an exemption from state or local taxes, it may be
referred to the Joint Survey Committee on Tax Exemptions for a report to be printed
as an appendix to the 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:
AB349, s. 1
4Section
1. 70.11 (44) of the statutes is created to read:
AB349,2,65
70.11
(44) Olympic ice training center. Beginning with the first assessment
6year in which the property would not otherwise be exempt from taxation under sub.
1(1), property owned by a nonprofit corporation that operates an Olympic ice training
2center on land purchased from the state, if the property is located or primarily used
3at the center. Property that is exempt under this subsection includes property leased
4to a nonprofit entity, regardless of the use of the leasehold income, and up to 6,000
5square feet of property leased to a for-profit entity, regardless of the use of the
6leasehold income.
