Amendment SA20-AB768

LRBb3250/1

JS:jlg:jf

1997 - 1998 LEGISLATURE

SENATE AMENDMENT 20, TO 1997 ASSEMBLY BILL 768

May 7, 1998 - Offered by Senators Decker and Jauch.

AB768-SA20,1,2 At the locations indicated, amend the bill, as shown by assembly substitute amendment 1, as follows:

AB768-SA20,1,3 1. Page 16, line 21: before "state" insert "assessment of agricultural land;".

AB768-SA20,1,4 2. Page 189, line 2: after that line insert:

AB768-SA20,1,5 " Section 279am. 70.32 (2r) of the statutes is repealed and recreated to read:

AB768-SA20,1,8 70.32 (2r) For the assessments as of January 1 of the following years, agricultural property shall be assessed at the following percentages of its fair market value:

AB768-SA20,1,9 (a) 1999, 84%.

AB768-SA20,1,10 (b) 2000, 80%.

AB768-SA20,1,11 (c) 2001, 76%.

AB768-SA20,1,12 (d) 2002, 72%.

AB768-SA20,1,13 (e) 2003, 68%.

AB768-SA20,2,1 (f) 2004, 64%.

AB768-SA20,2,2 (g) 2005 and thereafter, 60%.".

AB768-SA20,2,3 3. Page 235, line 12: after that line insert:

AB768-SA20,2,4 " Section 311r. 74.48 (1) of the statutes is amended to read:

AB768-SA20,2,10 74.48 (1) If land that has been valued under s. 70.32 (2r) (b) is sold by a person who has owned it for less than 5 years and who has benefited from a value lower than that established by s. 70.32 (2r) (a) the assessment as of January 1, 1995, there is imposed on that person a penalty equal to 5% of the difference between the sale price of the agricultural land and the value that would be established for it under s. 70.32 (2r) (c) during the last year of the person's ownership.".

AB768-SA20,2,11 (End)