AN ACT ...; relating to: reducing the exclusion amount for capital gains.
Analysis by the Legislative Reference Bureau
taxation
Income taxation
Under current law, there is an income tax exclusion for individuals, fiduciaries, members of limited liability corporations and partnerships, and shareholders of tax-option corporations for 60 percent of the net long-term capital gains realized from the sale of assets held for at least one year. This bill reduces the exclusion to 40 percent.
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 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. 71.05 (6) (b) 9. of the statutes is amended to read:
71.05 (6) (b) 9. On assets held more than one year and on all assets acquired from a decedent, 60% 40 percent of the capital gain as computed under the internal revenue code, not including capital gains for which the federal tax treatment is determined under section 406 of P.L. 99-514; not including amounts treated as ordinary income for federal income tax purposes because of the recapture of depreciation or any other reason; and not including amounts treated as capital gain for federal income tax purposes from the sale or exchange of a lottery prize. For purposes of this subdivision, the capital gains and capital losses for all assets shall be netted before application of the percentage.
SECTION 9343. Initial applicability; Revenue.
(1) TAXATION OF CAPITAL GAINS. The treatment of section 71.05 (6) (b) 9. of the statutes first applies to taxable years beginning on January 1 of the year in which this subsection takes effect, except that if this subsection takes effect after August 31 the treatment of section 71.05 (6) (b) 9. of the statutes first applies to taxable years beginning on January 1 of the year following the year in which this subsection takes effect.
(End)
LRB-1248LRB-1248/1
RAC:bjk:ph
2009 - 2010 LEGISLATURE
DOA:......Kraus, BB0309 - Elimination of base budget review reports
For 2009-11 Budget -- Not Ready For Introduction
2009 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
State government
State finance
Currently, every fiscal biennium, one-third of all state agencies prepare a base budget review report that contains a description of each programmatic activity of the state agency; an accounting of all expenditures in each of the prior three fiscal years, arranged by revenue source and expenditure category for that state agency; and, for each programmatic activity of the state agency, an accounting of all expenditures, arranged by revenue source and expenditure category in the last two quarters in each of the prior three fiscal years. This bill eliminates base budget review reports.
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. 16.42 (1) (f) of the statutes is repealed.
SECTION 2. 16.423 of the statutes is repealed.
SECTION 3. 16.46 (5g) of the statutes is repealed.
(End)
LRB-1249LRB-1249/3
RAC:bjk:md
2009 - 2010 LEGISLATURE
DOA:......Kraus, BB0308 - Publication of certain budget documents on Internet
For 2009-11 Budget -- Not Ready For Introduction
2009 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
State government
State finance
Under current law, the governor must distribute a copy of the biennial state budget report, as well as the budget-in-brief, to each member of the legislature. Current law also permits the governor to distribute copies of these documents in either printed or optical disk format. This bill permits the governor to post the biennial state budget report and the budget-in-brief on the Internet in lieu of directly distributing copies of each to members of the legislature.
The bill also permits the secretary of administration to develop procedures to permit electronic compliance with auditing of certain claims requirements and the filing and preservation of documents relating to the claims.
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. 16.45 of the statutes is amended to read:
16.45 Budget message to legislature. In each regular session of the legislature, the governor shall deliver the budget message to the 2 houses in joint session assembled. Unless a later date is requested by the governor and approved by the legislature in the form of a joint resolution, the budget message shall be delivered on or before the last Tuesday in January of the odd-numbered year. With the message the governor shall transmit to the legislature, as provided in ss. 16.46 and 16.47, the biennial state budget report and the executive budget bill or bills together with suggestions for the best methods for raising the needed revenues. The governor may distribute the biennial state budget report in printed or optical disk format or post the biennial state budget report on the Internet.
SECTION 2. 16.46 (intro.) of the statutes is amended to read:
16.46 Biennial budget, contents. (intro.) The biennial state budget report shall be prepared by the secretary, under the direction of the governor, and a copy of a budget-in-brief thereof shall be furnished to each member of the legislature or posted on the Internet on the day of the delivery of the budget message. The biennial state budget report shall be furnished to each member of the legislature or posted on the Internet on the same day and shall contain the following information:
SECTION 3. 16.53 (4) of the statutes is amended to read:
16.53 (4) AUDIT ORDER ENDORSED ON CLAIM; RECORD. The order of the secretary auditing any claim shall be endorsed on or annexed to such claim, shall specify the amount allowed, the fund from which the same is payable, and the law that authorizes payment of such claim out of the treasury; and said order with the claim and all evidence relative thereto shall be filed and preserved in the secretary's office. The secretary may develop procedures to permit electronic compliance with any requirement under this subsection.
(End)
LRB-1250LRB-1250/2
PJH:kjf:ph
2009 - 2010 LEGISLATURE
DOA:......Wavrunek, BB0306 - Victim/witness surcharge to fund crime victim program
For 2009-11 Budget -- Not Ready For Introduction
2009 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
courts and procedure
Other courts and procedure
Under current law, when a person is convicted of a crime or if a person was charged with a crime but the criminal charge was amended to a civil offense and a court finds that the person committed the civil offense, the person pays a crime victim and witness assistance surcharge. The surcharge is $85 for each felony charge and $60 for each misdemeanor charge; current law splits the surcharge into two parts. For each felony surcharge, $65 is used to provide compensation for crime victims and $20 is used to provide grants to organizations that provide services for sexual assault victims. For each misdemeanor surcharge, $40 is used to provide compensation for crime victims and $20 is used to provide grants to organizations that provide services for sexual assault victims.
This bill increases the crime victim and witness assistance surcharge to $90 for each felony charge and $65 for each misdemeanor charge. Under the bill, $20 of each surcharge is used to provide grants to organizations that provide services for sexual assault victims and $5 is added to the amount currently used to provide compensation for crime victims.
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:
SECTION 1. 20.455 (5) (g) of the statutes is amended to read:
20.455 (5) (g) Crime victim and witness assistance surcharge, general services. The amounts in the schedule for purposes of ch. 950. All moneys received from any crime victim and witness assistance surcharge authorized under s. 973.045 (1) that are allocated as part A of the surcharge under s. 973.045 (1r) (a) 1., 20 percent of all moneys received from any crime victim and witness assistance surcharge authorized under s. 973.045 (1) that are allocated as part B of the surcharge under s. 973.045 (1r) (a) 2., all moneys received from any crime victim and witness assistance surcharge authorized under s. 973.045 (1m), and all moneys received from any delinquency victim and witness assistance surcharge authorized under s. 938.34 (8d) (a) shall be credited to this appropriation account. The department of justice shall transfer from this appropriation account to the appropriation account under par. (kj) the amounts in the schedule under par. (kj).
SECTION 2. 20.455 (5) (gc) of the statutes is amended to read:
20.455 (5) (gc) Crime victim and witness surcharge, sexual assault victim services. All Eighty percent of all moneys received from any crime victim and witness assistance surcharge authorized under s. 973.045 (1) that are allocated as part B of the surcharge under s. 973.045 (1r) (a) 2., to provide grants for sexual assault victim services under s. 165.93.
SECTION 3. 973.045 (1) (a) of the statutes is amended to read:
973.045 (1) (a) For each misdemeanor offense or count, $60 $65.
SECTION 4. 973.045 (1) (b) of the statutes is amended to read:
973.045 (1) (b) For each felony offense or count, $85 $90.
SECTION 5. 973.045 (1r) (a) 2. of the statutes is amended to read:
973.045 (1r) (a) 2. Part B equals $20 $25 for each misdemeanor offense or count and $20 $25 for each felony offense or count.
SECTION 6. 973.045 (2m) of the statutes is amended to read:
973.045 (2m) The secretary of administration shall credit part A and 20 percent of part B of the crime victim and witness surcharge to the appropriation account under s. 20.455 (5) (g) and 80 percent of part B to the appropriation account under s. 20.455 (5) (gc).
(End)
LRB-1261LRB-1261/P7
MDK:kjf/jld/cjs:ph
2009 - 2010 LEGISLATURE
DOA:......Dombrowski, BB0277 - Transfer Division of Energy to PSC
For 2009-11 Budget -- Not Ready For Introduction
2009 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
State Government
Public utility regulation
Under current law, DOA must determine the amount of a monthly low-income assistance fee that electric utilities are required to charge customers. The fees are used to fund various low-income energy assistance programs. Some of the fees are also used to help fund the Wisconsin Works program, which provides work experience and benefits for low-income custodial parents. Current law imposes certain requirements on DOA's determination of the amount of the fee, including a requirement that the monthly fee may not exceed the lesser of $750 or 3 percent of the customer's total charges for the month. This bill changes the foregoing requirement so that the monthly fee may not exceed the lesser of $750 or the sum of the foregoing 3 percent and a percentage of the customer's total charges for the month that, as determined by DOA, is sufficient to generate the amounts used to help fund the Wisconsin Works program.
Current law also requires DOA to promulgate rules establishing the amount of the fee. For a fiscal year, the rules must establish the fee in the amount resulting from subtracting a specified sum from the amount needed for assisting low-income customers as determined under a formula under current law. One component of the specified sum is the amount of funding received by the state under federal programs that provide energy assistance to low-income customers. Under this bill, for fiscal years 2009-10 and 2010-11, the amount of funding received under the federal programs that is attributable to federal economic stimulus funds must be deducted from the sum. The bill requires DOA to promulgate emergency rules for making the required deduction.
Under current law, DOA administers federally funded programs for providing weatherization and energy assistance to low-income households. Current law requires DOA to transfer in each fiscal year 15 percent of the federal funding for the energy assistance program to the weatherization program. This bill allows, but does not require, DOA to make the transfer. In addition, the bill requires DOA to deduct its administrative expenses for the program before making a transfer. Also, the bill eliminates a program revenue appropriation that is no longer required for DOA to administer the program.
Also under current law, DOA administers a program for making grants from the utility public benefits fund (UPBF) to provide assistance to low-income households for weatherization and other energy conservation services, payment of energy bills, and early identification or prevention of energy crises. In each fiscal year, DOA must ensure that the amount made in grants for weatherization and other energy conservation services is equal to 47 percent of the sum of the following: 1) the amounts received under the federally funded weatherization and energy-assistance programs mentioned above; 2) the amount spent by certain electric and natural gas utilities on assistance to low-income households; 3) the amount spent on all programs funded by the UPBF; and 4) the amount of monthly low-income assistance fees that certain municipal electric utilities and electric retail cooperatives are required to collect from their customers and members.
Instead of requiring DOA to ensure that 47 percent of the foregoing sum is spent in fiscal years 2009-10 to 2011-12 on grants for weatherization and other energy conservation services, this bill requires DOA to ensure that at least $75,000,000 is spent in a fiscal year on such grants. In addition, in fiscal years 2010-11 and 2011-12, DOA must increase the amount spent on such grants to reflect the cost-of-living increase that occurred during the previous fiscal year. Beginning in fiscal year 2012-13, DOA must ensure that 47 percent of the foregoing sum is spent on such grants, as is required under current law.
Also under current law, DOA has created a Division of Energy to administer federal and state programs for providing assistance to low-income households for weatherization, energy conservation, payment of energy bills, and other energy-related services. This bill transfers responsibility to administer the programs from DOA to the PSC effective January 1, 2010.
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:
