LRB-0181/P1
EVM:amn
2021 - 2022 LEGISLATURE
DOA:......Subach, BB0020 - New Appropriation: Payments in lieu of taxes
For 2021-2023 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
state Government
General state government
BCPL payments in lieu of taxes appropriation
Under current law, land that the Board of Commissioners of Public Lands (BCPL) owns is not subject to property taxes. For certain lands purchased on or after July 14, 2015, though, BCPL makes annual payments to municipalities in lieu of the property tax that would have been owed on these lands were they not tax exempt. Currently, these payments are made from the BCPL's general operations appropriation account. This bill creates an appropriation account specifically for these payments in lieu of taxes.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 20.507 (1) (g) of the statutes is created to read:
20.507 (1) (g) Payments in lieu of taxes. The amounts in the schedule for payments in lieu of property taxes under s. 24.62 (3). All amounts deducted from the proceeds from the sale of timber or from incomes of trust funds under s. 24.62 (3) shall be credited to this appropriation account.
****Note: This Section
involves a change in an appropriation that must be reflected in the revised schedule in s. 20.005, stats.
Section
2. 20.507 (1) (h) of the statutes is amended to read:
20.507 (1) (h) Trust lands and investments — general program operations. The amounts in the schedule for the general program operations of the board. All amounts deducted from the gross receipts of the appropriate funds as provided under ss. 24.04, 24.09 (1) (bm), 24.53, and 24.62 (1), less amounts paid in lieu of property taxes under s. 24.62 (3), shall be credited to this appropriation account. Notwithstanding s. 20.001 (3) (a), the unencumbered balance at the end of each fiscal year shall be transferred to the trust funds, as defined under s. 24.60 (5). The amount transferred to each trust fund, as defined under s. 24.60 (5), shall bear the same proportion to the total amount transferred to the trust funds that the gross receipts of that trust fund bears to the total gross receipts credited to this appropriation account during that fiscal year.
(End)
