LRB-1283/P3
JK:jld:rs
2015 - 2016 LEGISLATURE
DOA:......Quinn, BB0455 - Increase school levy tax credit appropriation
For 2015-2017 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
taxation
Property taxation
This bill increases the appropriation for the school levy property tax credits so that the total amount distributed to claim against a person's property tax liability is $958,600,000 in 2016 and $853,000,000 in each year thereafter. Currently, the annual distribution is $747,400,000.
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. 79.10 (7m) (a) 1. of the statutes is renumbered 79.10 (7m) (a) 1. (intro.) and amended to read:
79.10 (7m) (a) 1. (intro.) Except as provided in par. (cm), the amount determined under sub. (4) shall be distributed by the department of administration to the counties on the 4th Monday in July., except as follows:
Section
2. 79.10 (7m) (a) 1. a. of the statutes is created to read:
79.10 (7m) (a) 1. a. In the 2016-17 fiscal year, the department of administration shall distribute $853,000,000 on the 4th Monday in July, 2016, related to the 2015 property tax levies, and $105,600,000 on the 4th Monday in June, 2017, related to the 2016 property tax levies.
Section
3. 79.10 (7m) (a) 1. b. of the statutes is created to read:
79.10 (7m) (a) 1. b. In the 2017-18 fiscal year, and in each fiscal year thereafter, the department of administration shall distribute $747,400,000 on the 4th Monday in July, related to property taxes levied in the prior calendar year, and $105,600,000 on the following 4th Monday in June, related to property taxes levied in the most recent calendar year.
Section
4. 79.10 (7m) (a) 2. of the statutes is amended to read:
79.10 (7m) (a) 2. Except as provided in par. (cm), the county treasurer shall settle for the amounts distributed under this paragraph on the 4th Monday in July with each municipality and taxing jurisdiction in the county not later than August 20. Failure to settle timely under this subdivision subjects the county treasurer to the penalties under s. 74.31.
Section
5. 79.10 (7m) (cm) 1. b. of the statutes is amended to read:
79.10 (7m) (cm) 1. b. The treasurer of the municipality shall settle for the amounts distributed under pars. (a) 1. and (c) 1. on the 4th Monday in July with the appropriate county treasurer not later than August 15. Failure to settle timely under this subdivision subjects the treasurer of the municipality to the penalties under s. 74.31. On or before August 20, the county treasurer shall settle with each taxing jurisdiction, including towns, villages, and cities, except 1st class cities, in the county.
Section
6. 79.10 (7m) (cm) 2. b. of the statutes is amended to read:
79.10 (7m) (cm) 2. b. The treasurer of the municipality shall settle for the amounts distributed under pars. (a) 1. and (c) 1. on the 4th Monday in July with the appropriate county treasurer not later than August 15. Failure to settle timely under this subdivision subjects the treasurer of the municipality to the penalties under s. 74.31. On or before August 20, the county treasurer shall settle with each taxing jurisdiction, including towns, villages, and cities, except 1st class cities, in the county.
Section
7. 79.14 of the statutes is amended to read:
79.14 School levy tax credit. The appropriation under s. 20.835 (3) (b), for the payments under s. 79.10 (4), is $319,305,000 in 1994, 1995, and 1996; $469,305,000 beginning in 1997 and ending in 2006; $593,050,000 in 2007; $672,400,000 in 2008; $747,400,000 in 2009; $732,550,000 in 2010, 2011, and 2012; and $747,400,000 in 2013, 2014, and 2015; $958,600,000 in fiscal year 2016-17; and $853,000,000 in fiscal year 2017-18 and in each fiscal year thereafter.
(End)
