AB957: Bill Text

LRB-4188/1

JS:kaf:jf

1997 - 1998 LEGISLATURE

1997 Assembly BILL 957

March 26, 1998 - Introduced by Representatives Grothman and Seratti, cosponsored by Senators Welch, Huelsman and Roessler. Referred to Joint survey committee on Tax Exemptions.

AB957,1,2 An Act to create 77.54 (44) of the statutes; relating to: a sales tax and use tax exemption for coinage, bullion and similar goods.

Analysis by the Legislative Reference Bureau

This bill creates a sales tax and use tax exemption for legal tender, currency, medallions and gold or silver coinage issued by this state, the United States or a foreign country, and for bullion.

This bill will be referred to the joint survey committee on tax exemptions for a detailed analysis, which will be printed as an appendix to this bill.

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:

AB957, s. 1 Section 1. 77.54 (44) of the statutes is created to read:

AB957,1,6 77.54 (44) The gross receipts from the sale of and the storage, use or other consumption of legal tender, currency, medallions and gold or silver coinage if those goods are issued by this state, the United States or a foreign country, and for bullion.

AB957, s. 2 Section 2. Effective date.

AB957,2,2 (1) This act takes effect on the first day of the 2nd month beginning after publication.

AB957,2,3 (End)