LRB-1861/P5
ZDW:cdc&amn
2023 - 2024 LEGISLATURE
DOA:......Aslesen, BB0530 - General fund transfers for electric vehicle sales and APART
For 2023-2025 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
Transportation
General transportation
General fund transfers to the transportation fund
This bill requires two transfers from the general fund to the transportation fund in each fiscal year, beginning on June 30, 2024. The first transfer must be in an amount equal to the amount of sales tax generated by the sale of electric vehicles in this state, as calculated by DOA. Beginning in fiscal year 2025-26, the amount transferred may not exceed 120 percent of the amount transferred in the previous year, or $75,000,000, whichever is less. The second transfer must be equal to the marginal difference between the sales tax generated from the sale of automotive parts, accessories, tires, and repair and maintenance services in fiscal year 2020-21 and the fiscal year of the transfer, as calculated by DOA.
For further information see the state 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:
Section
1. 16.5185 (4) of the statutes is created to read:
16.5185 (4) (a) Subject to par. (b), beginning on June 30, 2024, in each fiscal year, the secretary shall transfer from the general fund to the transportation fund an amount equal to the amount calculated by the department approximating the amount of sales tax generated by the sale of electric vehicles in this state.
(b) Beginning in fiscal year 2025-26, the transfer under par. (a) may not exceed 120 percent of the amount transferred in the previous year, or $75,000,000, whichever is less.
****Note: This is reconciled s. 16.5185. This
Section has been affected by drafts with the following LRB numbers: 23-1861/P4 and 23-1739/P2.
Section
2. 16.5185 (5) of the statutes is created to read:
16.5185 (5) Beginning on June 30, 2024, in each fiscal year, the secretary shall transfer from the general fund to the transportation fund an amount equal to the amount calculated by the department approximating the marginal difference between the sales tax generated from the sale of automotive parts, accessories, tires, and repair and maintenance services in fiscal year 2020-21 and the fiscal year of the transfer.
****Note: This is reconciled s. 16.5185. This
Section has been affected by drafts with the following LRB numbers: 23-1861/P4 and 23-1739/P2.
(End)
