LRB-4372/1
RPN:jld:jf
2009 - 2010 LEGISLATURE
March 2, 2010 - Introduced by Representatives Vruwink, A. Ott, Clark, Suder,
Spanbauer, Tauchen, Townsend and Vos, cosponsored by Senators Harsdorf
and Vinehout. Referred to Committee on Agriculture.
AB790,1,2
1An Act to create 815.18 (3m) of the statutes;
relating to: exemption from
2execution for payments made to certain family farm businesses.
Analysis by the Legislative Reference Bureau
Under current law, certain assets of a debtor are immune from execution,
including $75,000 of the value of a person's homestead, consumer goods not to exceed
$12,000 in value, federal disability payments, and a motor vehicle not to exceed
$4,000 in value. Current law also exempts from execution 75 percent of the debtor's
net income per week. This exemption is limited to the extent necessary to support
the debtor and his or her dependents, but to not less than 30 times the greater of the
federal or state minimum wage.
This bill creates an exemption from execution for 75 percent of the interest and
right to receive payments by a family farm business from the sale of crops, livestock,
dairy products, or other farm products. The bill includes the language in current law
limiting the exemption to the extent necessary to support the debtor and his or her
dependents, but to not less than 30 times the greater of the federal or state minimum
wage. A family farm business is defined in the bill as a business whose members are
related by blood, adoption, or marriage.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB790, s. 1
3Section
1. 815.18 (3m) of the statutes is created to read:
AB790,2,8
1815.18
(3m) Exempt farm payments. (a) In this subsection, "family farm
2business" means a cooperative, corporation, limited liability company, or
3partnership that is primarily engaged in a farming operation, as defined in s. 409.102
4(1) (im), and whose sole members, shareholders, or partners are related as lineal
5ancestors or lineal descendants, whether by blood or by adoption, or as spouses,
6brothers, sisters, uncles, aunts, cousins, sons-in-law, daughters-in-law,
7fathers-in-law, mothers-in-law, brothers-in-law, or sisters-in-law of such lineal
8ancestors or lineal descendants.
AB790,2,159
(b) Seventy-five percent of the interest in and right to receive payments by a
10family farm business from the sale of crops, livestock, dairy products, or other farm
11products, as defined in s. 409.102 (1) (ig), are exempt from execution, except as
12specifically provided in ss. 70.20 (2), 71.91 (5m) and (6), 74.55 (2), and 102.28 (5). The
13benefits of this exemption are limited to the extent reasonably necessary for the
14support of the members, shareholders, or partners and their dependents, but to not
15less than 30 times the greater of the state or federal minimum wage.
AB790,2,1717
(1) This act first applies to sales made on the effective date of this subsection.
