AB387: Bill Text

LRB-2732/1

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2011 - 2012 LEGISLATURE

2011 Assembly BILL 387

November 21, 2011 - Introduced by Representatives Petersen, Kaufert, Pridemore, Krug and Kooyenga, cosponsored by Senators Lasee, Olsen, Grothman, Schultz and Lassa. Referred to Committee on Ways and Means.

AB387,1,2 An Act to create 77.54 (60) of the statutes; relating to: a sales and use tax exemption for coins, currency, and commemorative medallions.

Analysis by the Legislative Reference Bureau

This bill creates a sales and use tax exemption for the sale of coins, currency, commemorative medallions, or coins of the United States, or any other sovereign government, that are made from gold, silver, platinum, or palladium, or any combination of such metals.

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:

AB387, s. 1 Section 1. 77.54 (60) of the statutes is created to read:

AB387,2,2 77.54 (60) The sales price from the sale of and the storage, use, or other consumption of coins, currency, commemorative medallions, or coins of the United States, or any other sovereign government, that are made from gold, silver, platinum, or palladium, or any combination of such metals.

AB387, s. 2 Section 2. Effective date.

AB387,2,5 (1) This act takes effect on the first day of the 3rd month beginning after publication.

AB387,2,6 (End)