SB577: Bill Text

LRB-4062/2

JK:sac:rs

2013 - 2014 LEGISLATURE

2013 Senate BILL 577

February 7, 2014 - Introduced by Senators Harsdorf, Shilling, Tiffany, Moulton and Lasee, cosponsored by Representatives Bernier, Billings, Kooyenga, Kulp, Rodriguez, Kahl, Pridemore, Swearingen, Murphy, Thiesfeldt and Ohnstad. Referred to Committee on Workforce Development, Forestry, Mining, and Revenue.

SB577,1,3 An Act to renumber and amend 70.111 (22); and to create 70.111 (22) (b) of the statutes; relating to: the property tax exemption for rented personal property.

Analysis by the Legislative Reference Bureau

Under current law, certain personal property held for rental for periods of one month or less to multiple users for their temporary use is exempt from the property tax, if the property owner is primarily engaged in the business of renting or leasing property. Under this bill, certain property held primarily for rental for periods of 364 days or less to multiple users for their temporary use is exempt from the property tax, if the property owner is primarily engaged in the business of renting or leasing heavy equipment for construction, mining, or forestry.

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 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:

SB577,1 Section 1. 70.111 (22) of the statutes is renumbered 70.111 (22) (a) and amended to read:

SB577,2,12 70.111 (22) (a) Personal Except as provided in par. (b), personal property held for rental for periods of one month or less to multiple users for their temporary use, if the property is not rented with an operator, if the owner is not a subsidiary or affiliate of any other enterprise which is engaged in any business other than personal property rental, if the owner is classified in group number 735, industry number 7359 of the 1987 standard industrial classification manual published by the U.S. office of management and budget and if the property is equipment, including construction equipment but not including automotive and computer-related equipment, television sets, video recorders and players, cameras, photographic equipment, audiovisual equipment, photocopying equipment, sound equipment, public address systems and video tapes; party supplies; appliances; tools; dishes; silverware; tables; or banquet accessories.

SB577,2 Section 2. 70.111 (22) (b) of the statutes is created to read:

SB577,2,21 70.111 (22) (b) Personal property held primarily for rental for periods of 364 days or less to multiple users for their temporary use, if the property is not rented with an operator, if the owner is not a subsidiary or affiliate of any other enterprise which is engaged in any business other than personal property rental, if the owner is classified under 532412 of the North American Industry Classification System, 2012 edition, published by the U.S. bureau of the census, and if the property is heavy equipment used for construction, mining, or forestry, including bulldozers, earthmoving equipment, well-drilling machinery and equipment, or cranes.

SB577,3 Section 3. Initial applicability.

SB577,2,23 (1) This act first applies to the property tax assessments as of January 1, 2014.

SB577,2,24 (End)