AB764: Bill Text

LRB-4417/2

MES&RAC:rs&cmh:kjf

2001 - 2002 LEGISLATURE

2001 Assembly BILL 764

January 31, 2002 - Introduced by Representatives Walker, Nass, Lippert, Montgomery, Pettis, Hahn, Ladwig, Olsen, Musser, Duff, F. Lasee, Townsend, Grothman, Albers and D. Meyer, cosponsored by Senators Rosenzweig, Darling and Huelsman. Referred to Committee on Government Operations.

AB764,1,3 An Act to create 16.502, 25.17 (1) (ty), 25.38 and 73.03 (57) of the statutes; relating to: creating a fund to reduce state revenue shortfalls and requiring the department of revenue to prepare envelopes for contributions to the fund.

Analysis by the Legislative Reference Bureau

This bill creates a separate nonlapsible trust fund to which any taxpayer may contribute any amount of money. The fund is called the tax-me-more fund, and amounts contributed to the fund may be used only to reduce the state's revenue shortfalls.

The bill also requires the department of revenue (DOR) to prepare envelopes that are addressed to DOR, for distribution to any interested person, into which the person may place a contribution to the tax-me-more fund.

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:

AB764, s. 1 Section 1. 16.502 of the statutes is created to read:

AB764,2,3 16.502 Transfers to the general fund from the tax-me-more fund. If the secretary determines under s. 16.50 (7) (a) that previously authorized expenditures will exceed revenues in the current or forthcoming fiscal year by more than 0.5% of the estimated general purpose revenue appropriations for that fiscal year, the secretary shall transfer all moneys in the tax-me-more fund to the general fund.

AB764, s. 2 Section 2. 25.17 (1) (ty) of the statutes is created to read:

AB764,2,5 25.17 (1) (ty) Tax-me-more fund (s. 25.38);

AB764, s. 3 Section 3. 25.38 of the statutes is created to read:

AB764,2,10 25.38 Tax-me-more fund. There is established a separate nonlapsible trust fund designated as the tax-me-more fund, to consist of all moneys contributed by taxpayers for the purpose of reducing the state's revenue shortfalls. Moneys in the fund may be used only to make the transfer under s. 16.502.

AB764, s. 4 Section 4. 73.03 (57) of the statutes is created to read:

AB764,2,14 73.03 (57) To prepare envelopes that are addressed to the department, for distribution to any interested person, into which the person may place a contribution to the tax-me-more fund under s. 25.38.

AB764,2,15 (End)