May 2000 Special Session Date of enactment:
May 30, 2000
Senate Bill 1 Date of publication*:
June 13, 2000
1999 WISCONSIN ACT 198
An Act to amend 71.07 (9) (b) 1. and 71.07 (9) (b) 4.; and to create 71.07 (9) (b) 5. of the statutes; relating to: restoring the school property tax rent credit.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
71.07 (9) (b) 1. Subject to the limitations under this subsection and except as provided in subds. 2. and, 4. and 5., a claimant may claim as a credit against, but not to exceed the amount of, taxes under s. 71.02, 10% of the first $2,000 of property taxes or rent constituting property taxes, or 10% of the first $1,000 of property taxes or rent constituting property taxes of a married person filing separately.
71.07 (9) (b) 4. For taxable years beginning after December 31, 1998, and before January 1, 2000, subject to the limitations under this subsection a claimant may claim as a credit against, but not to exceed the amount of, taxes under s. 71.02, 8.4% of the first $0 of property taxes or rent constituting property taxes, or 8.4% of the first $0 of property taxes or rent constituting property taxes of a married person filing separately.
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3. 71.07 (9) (b) 5. of the statutes is created to read:
71.07 (9) (b) 5. For taxable years beginning after December 31, 1999, subject to the limitations under this subsection a claimant may claim as a credit against, but not to exceed the amount of, taxes under s. 71.02, 12% of the first $2,500 of property taxes or rent constituting property taxes, or 12% of the first $1,250 of property taxes or rent constituting property taxes of a married person filing separately.
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4.
Initial applicability.
(1) This act first applies to taxable years beginning on January 1, 2000.