Amendment ASA1-AB677

LRBs0265/1

MES:cjs:jf

1999 - 2000 LEGISLATURE

ASSEMBLY SUBSTITUTE AMENDMENT 1, TO 1999 ASSEMBLY BILL 677

January 25, 2000 - Offered by Representatives Pettis, Waukau, Leibham, Balow, Kelso, Meyerhofer, Skindrud, Sherman, Hahn, Plouff, Jensen, Goetsch, Berceau, Gunderson, Black, Gundrum, Bock, Huebsch, Carpenter, Hundertmark, Coggs, Hutchison, Gronemus, Jeskewitz, Hasenohrl, Kedzie, Hebl, Kestell, Huber, Kreibich, Krug, Ladwig, Krusick, Montgomery, La Fave, Musser, Lassa, Nass, J. Lehman, Ott, Meyer, Owens, Morris-Tatum, Petrowski, Plale, Porter, Richards, Rhoades, Riley, Seratti, Ryba, Spillner, Schooff, Stone, Sinicki, Sykora, Staskunas, Townsend, Steinbrink, Urban, Travis, Vrakas, Wood, Ward, Young and Wieckert.

AB677-ASA1,1,2 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:

AB677-ASA1, s. 1 Section 1. 71.07 (9) (b) 1. of the statutes, as affected by 1999 Wisconsin Act 10, is amended to read:

AB677-ASA1,1,9 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.

AB677-ASA1, s. 2 Section 2. 71.07 (9) (b) 4. of the statutes, as created by 1999 Wisconsin Act 10, is amended to read:

AB677-ASA1,2,6 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.

AB677-ASA1, s. 3 Section 3. 71.07 (9) (b) 5. of the statutes is created to read:

AB677-ASA1,2,12 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, 14% of the first $2,500 of property taxes or rent constituting property taxes, or 14% of the first $1,250 of property taxes or rent constituting property taxes of a married person filing separately.

AB677-ASA1,2,13 (End)