LRB-2726/1
JK:kjf:rs
2011 - 2012 LEGISLATURE
November 3, 2011 - Introduced by Representatives Berceau, Hulsey, C. Taylor,
Turner
and Pope-Roberts, cosponsored by Senator Risser. Referred to
Committee on Jobs, Economy and Small Business. Referred to Joint Survey
Committee on Tax Exemptions.
AB362,1,3 1An Act to create 70.11 (27m) and 70.111 (27) of the statutes; relating to:
2property tax exemptions for certain machinery and tangible personal property
3used to conduct research.
Analysis by the Legislative Reference Bureau
This bill creates real and personal property tax exemptions for machinery and
other tangible personal property used for qualified research by persons engaged
primarily in manufacturing or biotechnology in this state.
Because this bill relates to an exemption from state or local taxes, it may be
referred to the Joint Survey Committee on Tax Exemptions for a report to be printed
as an appendix to the bill.
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:
AB362, s. 1 4Section 1. 70.11 (27m) of the statutes is created to read:
AB362,1,55 70.11 (27m) Research machinery and equipment. (a) In this subsection:
AB362,1,66 1. "Biotechnology" has the meaning given in s. 77.54 (57) (a) 1f.
AB362,2,1
12. "Machinery" has the meaning given in sub. (27) (a) 2.
AB362,2,22 3. "Manufacturing" has the meaning given in sub. (27) (a) 3.
AB362,2,33 4. "Primarily" means more than 50 percent.
AB362,2,54 5. "Qualified research" means qualified research as defined under section 41
5(d) (1) of the Internal Revenue Code, including embryonic stem cell research.
AB362,2,66 6. "Used exclusively" has the meaning given in sub. (27) (a) 8.
AB362,2,97 (b) Machinery and equipment, including attachments, parts, and accessories,
8used by persons who are engaged primarily in manufacturing or biotechnology in
9this state and are used exclusively and directly in qualified research.
AB362, s. 2 10Section 2. 70.111 (27) of the statutes is created to read:
AB362,2,1111 70.111 (27) Research property. (a) In this subsection:
AB362,2,1212 1. "Biotechnology" has the meaning given in s. 77.54 (57) (a) 1f.
AB362,2,1313 2. "Manufacturing" has the meaning given in s. 70.11 (27) (a) 3.
AB362,2,1414 3. "Primarily" means more than 50 percent.
AB362,2,1615 4. "Qualified research" means qualified research as defined under section 41
16(d) (1) of the Internal Revenue Code, including embryonic stem cell research.
AB362,2,1717 5. "Used exclusively" has the meaning given in s. 70.11 (27) (a) 8.
AB362,2,2118 (b) Tangible personal property used by persons who are engaged primarily in
19manufacturing or biotechnology in this state, if the tangible personal property is
20consumed or destroyed or loses its identity while being used exclusively and directly
21in qualified research.
AB362, s. 3 22Section 3. Initial applicability.
AB362,2,2423 (1) The treatment of sections 70.11 (27m) and 70.111 (27) of the statutes first
24applies to the property tax assessments as of January 1, 2012.
AB362,2,2525 (End)
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