SB62: Bill Text

SB62,239,17 77.785 (1) All retailers shall collect and report the taxes under this subchapter on the gross receipts sales price from leases and rentals of property or items, property, and goods under s. 77.52 (1) (b), (c), and (d) under s. 77.71 (4).

SB62, s. 540 Section 540. 77.785 (2) of the statutes is amended to read:

SB62,239,24 77.785 (2) Prior to registration or titling, a retailer of a boat, all-terrain vehicle, trailer and semi-trailer dealers and licensed aircraft, motor vehicle, manufactured home, as defined in s. 101.91 (2), or recreational vehicle, as defined in s. 340.01 (48r), and snowmobile dealers shall collect the taxes under this subchapter on sales of items under s. 77.71 (4). The dealer retailer shall remit those taxes to the department of revenue along with payments of the taxes under subch. III.

SB62, s. 541 Section 541. 77.92 (4) of the statutes is amended to read:

SB62,240,16 77.92 (4) "Net business income," with respect to a partnership, means taxable income as calculated under section 703 of the Internal Revenue Code; plus the items of income and gain under section 702 of the Internal Revenue Code, including taxable state and municipal bond interest and excluding nontaxable interest income or dividend income from federal government obligations; minus the items of loss and deduction under section 702 of the Internal Revenue Code, except items that are not deductible under s. 71.21; plus guaranteed payments to partners under section 707 (c) of the Internal Revenue Code; plus the credits claimed under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (2dy), (3g), (3h), (3s), (3n), (3p), (3r), (3s), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), and (5k); and plus or minus, as appropriate, transitional adjustments, depreciation differences, and basis differences under s. 71.05 (13), (15), (16), (17), and (19); but excluding income, gain, loss, and deductions from farming. "Net business income," with respect to a natural person, estate, or trust, means profit from a trade or business for federal income tax purposes and includes net income derived as an employee as defined in section 3121 (d) (3) of the Internal Revenue Code.

SB62, s. 542 Section 542. 77.98 of the statutes is amended to read:

SB62,240,24 77.98 Imposition. A local exposition district under subch. II of ch. 229 may impose a tax on the retail sale, except sales for resale, within the district's jurisdiction under s. 229.43 of products that are subject to a tax under s. 77.54 (20) (c) 1. to 3. and not candy, as defined in s. 77.51 (1fm), prepared food, as defined in s. 77.51 (10m), and soft drinks, as defined in s. 77.51 (17w), unless exempt from the sales tax under s. 77.54 (1), (4), (7) (a), (7m), (9), (9a) or (20) (c) 5., (20n) (b) and (c), and (20r).

SB62, s. 543 Section 543. 77.981 of the statutes is amended to read:

SB62,241,9 77.981 Rate. The tax under s. 77.98 is imposed on the sale of taxable products at the rate of 0.25% of the gross receipts sales price, except that the district, by a vote of a majority of the authorized members of its board of directors, may impose the tax at the rate of 0.5% of the gross receipts sales price. A majority of the authorized members of the district's board may vote that, if the balance in a special debt service reserve fund of the district is less than the requirement under s. 229.50 (5), the tax rate under this subchapter is 0.5%. The 0.5% rate shall be effective on the next January 1, April 1, July 1 or October 1, and this tax is irrepealable if any bonds issued by the district and secured by the special debt service reserve fund are outstanding.

SB62, s. 544 Section 544. 77.982 (2) of the statutes is repealed and recreated to read:

SB62,241,15 77.982 (2) Sections 77.51 (12m), (14), (14g), (15a), and (15b), 77.52 (1b), (3), (4), (13), (14), (18), and (19), 77.58 (1) to (5), (6m), and (7), 77.585, 77.59, 77.60, 77.61 (2), (3m), (5), (8), (9), and (12) to (15), and 77.62, as they apply to the taxes under subch. III, apply to the tax under this subchapter. Section 77.73, as it applies to the taxes under subch. V, applies to the tax under this subchapter.

SB62, s. 545 Section 545. 77.99 of the statutes is amended to read:

SB62,242,3 77.99 Imposition. A local exposition district under subch. II of ch. 229 may impose a tax at the rate of 3% of the gross receipts sales price on the rental, but not for rerental and not for rental as a service or repair replacement vehicle, within the district's jurisdiction under s. 229.43, of Type 1 automobiles, as defined in s. 340.01 (4) (a), by establishments primarily engaged in short-term rental of passenger cars without drivers, for a period of 30 days or less, unless the sale is exempt from the sales tax under s. 77.54 (1), (4), (7) (a), (7m), (9) or (9a). If the state makes a payment under s. 229.50 (7) to a district's special debt service reserve fund, a majority of the district's authorized board of directors may vote to increase the tax rate under this subchapter to 4%. A resolution to adopt the taxes imposed under this section, or an increase in the tax rate, shall be effective on the first January 1, April 1, July 1, or October 1 following the adoption of the resolution or tax increase.

SB62, s. 546 Section 546. 77.991 (2) of the statutes is repealed and recreated to read:

SB62,242,10 77.991 (2) Sections 77.51 (12m), (14), (14g), (15a), and (15b), 77.52 (1b), (3), (4), (13), (14), (18), and (19), 77.58 (1) to (5), (6m), and (7), 77.585, 77.59, 77.60, 77.61 (2), (3m), (5), (8), (9), and (12) to (15), and 77.62, as they apply to the taxes under subch. III, apply to the tax under this subchapter. Section 77.73, as it applies to the taxes under subch. V, applies to the tax under this subchapter. The renter shall collect the tax under this subchapter from the person to whom the passenger car is rented.

SB62, s. 547 Section 547. 77.994 (1) (intro.) of the statutes is amended to read:

SB62,242,18 77.994 (1) (intro.) Except as provided in sub. (2), a municipality or a county all of which is included in a premier resort area under s. 66.1113 may, by ordinance, impose a tax at a rate of 0.5% of the gross receipts sales price from the sale, license, lease, or rental in the municipality or county of goods or services that are taxable under subch. III made by businesses that are classified in the standard industrial classification manual, 1987 edition, published by the U.S. office of management and budget, under the following industry numbers:

SB62, s. 548 Section 548. 77.9941 (4) of the statutes is amended to read:

SB62,242,22 77.9941 (4) Sections 77.72 (1), (2) (a) and (3) (a), 77.73, 77.74, 77.75, 77.76 (1), (2), and (4), 77.77 (1) and (2), 77.785 (1), and 77.79, as they apply to the taxes under subch. V, apply to the tax under this subchapter.

SB62, s. 549 Section 549. 77.995 (2) of the statutes is amended to read:

SB62,243,7 77.995 (2) There is imposed a fee at the rate of 5 percent of the gross receipts sales price on the rental, but not for rerental and not for rental as a service or repair replacement vehicle of Type 1 automobiles, as defined in s. 340.01 (4) (a); of recreational vehicles, as defined in s. 340.01 (48r); of motor homes, as defined in s. 340.01 (33m); and of camping trailers, as defined in s. 340.01 (6m) by establishments primarily engaged in short-term rental of vehicles without drivers, for a period of 30 days or less, unless the sale is exempt from the sales tax under s. 77.54 (1), (4), (7) (a), (7m) or (9a). There is also imposed a fee at the rate of 5 percent of the gross receipts sales price on the rental of limousines.

SB62, s. 550 Section 550. 77.9951 (2) of the statutes is repealed and recreated to read:

SB62,243,13 77.9951 (2) Sections 77.51 (12m), (14), (14g), (15a), and (15b), 77.52 (1b), (3), (4), (13), (14), (18), and (19), 77.58 (1) to (5), (6m), and (7), 77.585, 77.59, 77.60, 77.61 (2), (3m), (5), (8), (9), and (12) to (15), and 77.62, as they apply to the taxes under subch. III, apply to the fee under this subchapter. The renter shall collect the fee under this subchapter from the person to whom the vehicle is rented.

SB62, s. 551 Section 551. 77.996 (6) of the statutes is amended to read:

SB62,243,19 77.996 (6) "Gross receipts" has the meaning given in s. 77.51 (4) (a), (b) 1. and 5., (c) 1. to 4., and (d) means the sales price, as defined in s. 77.51 (15b), of tangible personal property and taxable services sold by a dry cleaning facility. "Gross receipts" does not include the license fee imposed under s. 77.9961 (1m) that is passed on to customers.

SB62, s. 552 Section 552. 77.9972 (2) of the statutes is repealed and recreated to read:

SB62,244,2 77.9972 (2) Sections 77.51 (12m), (14), (14g), (15a), and (15b), 77.52 (1b), (3), (4), (13), (14), (18), and (19), 77.58 (1) to (5), (6m), and (7), 77.585, 77.59, 77.60, 77.61 (2), (3m), (5), (8), (9), and (12) to (15), and 77.62, as they apply to the taxes under subch. III, apply to the fee under this subchapter. Section 77.73, as it applies to the taxes under subch. V, applies to the fee under this subchapter. The renter shall collect the fee under this subchapter from the person to whom the passenger car is rented.

SB62, s. 553 Section 553. 84.03 (2) (a) 1. of the statutes is amended to read:

SB62,244,10 84.03 (2) (a) 1. "Amount of federal funds" means the sum of federal revenues received under the federal Intermodal Surface Transportation Efficiency Act of 1991, as amended, or under a substantially similar federal legislative act. "Amount of federal funds" does not include the first $300,000,000 of federal moneys received by the state, pursuant to federal legislation enacted during the 111th Congress, for the purpose of reviving the economy of the United States, which moneys are intended to be used for transportation purposes.

SB62, s. 554 Section 554. 86.195 (3) (b) 3. of the statutes is amended to read:

SB62,244,15 86.195 (3) (b) 3. Fifty percent of the gross receipts sales price, as defined in s. 77.51 (15b), of the business are is from meal, food, the sale of food product and beverage sales and food ingredients, as defined in s. 77.51 (3t), that are taxable under s. 77.54 (20) (c) subch. III of ch. 77; and

SB62, s. 555 Section 555. 100.55 (1) (d) 3. of the statutes is amended to read:

SB62,244,19 100.55 (1) (d) 3. A mortgage banker, loan originator, or mortgage broker registered licensed under s. 224.72 or a mortgage loan originator licensed under s. 224.725.

SB62, s. 556 Section 556. 146.99 of the statutes is repealed.

SB62, s. 557 Section 557. 149.10 (3m) (intro.) of the statutes is amended to read:

SB62,244,24 149.10 (3m) (intro.) "Health care coverage revenue" means any of the following, but does not include payments to health maintenance organizations under s. 49.45 (59) (a):

SB62, s. 558 Section 558. 165.25 (4) (ar) of the statutes is amended to read:

SB62,245,6 165.25 (4) (ar) The department of justice shall furnish all legal services required by the department of agriculture, trade and consumer protection relating to the enforcement of ss. 100.171, 100.173, 100.174, 100.175, 100.177, 100.18, 100.182, 100.195, 100.20, 100.205, 100.207, 100.209, 100.21, 100.28, 100.37, 100.42, 100.50, and 100.51, and 100.55, and 846.45 and chs. 126, 136, 344, 704, 707, and 779, together with any other services as are necessarily connected to the legal services.

SB62, s. 559 Section 559. 218.0171 (2) (cq) of the statutes is amended to read:

SB62,245,13 218.0171 (2) (cq) Upon payment of a refund to a consumer under par. (b) 2. b., the manufacturer shall provide to the consumer a written statement that specifies the trade-in amount previously applied under s. 77.51 (4) (b) 3. or 3m. or (15) (b) 4. or 4m. (12m) (b) 5. or 6. or (15b) (b) 5. or 6. toward the sales price of the motor vehicle having the nonconformity and the date on which the manufacturer provided the refund.

SB62, s. 560 Section 560. 220.02 (2) (g) of the statutes is amended to read:

SB62,245,16 220.02 (2) (g) Mortgage bankers, mortgage loan originators, and mortgage brokers under subch. III of ch. 224.

SB62, s. 561 Section 561. 220.02 (3) of the statutes is amended to read:

SB62,246,2 220.02 (3) It is the intent of sub. (2) to give the division jurisdiction to enforce and carry out all laws relating to banks or banking in this state, including those relating to state banks, savings banks, savings and loan associations, and trust company banks, and also all laws relating to small loan companies or other loan companies or agencies, finance companies, insurance premium finance companies, motor vehicle dealers, adjustment service companies, community currency exchanges, mortgage bankers, mortgage loan originators, mortgage brokers, and collection agencies and those relating to sellers of checks under ch. 217, whether doing business as corporations, individuals, or otherwise, but to exclude laws relating to credit unions.

SB62, s. 562 Section 562. 220.06 (1) of the statutes is amended to read:

SB62,246,6 220.06 (1) In this section, "licensee" means a person licensed by the division under ch. 138, 217 or 218 or under s. 224.72, 224.725, or 224.92 or registered by the division under s. 224.72.

SB62, s. 563 Section 563. 220.285 (1) of the statutes is amended to read:

SB62,246,19 220.285 (1) Any state bank, trust company bank, licensee under ss. 138.09, 138.12, 218.0101 to 218.0163, 218.02, 218.04 or, 218.05, 224.72, or 224.725 or ch. 217, or person registered under s. 224.72 may cause any or all records kept by such bank, licensee, or registered person to be recorded, copied or reproduced by any photostatic, photographic or miniature photographic process or by optical imaging if the process employed correctly, accurately and permanently copies, reproduces or forms a medium for copying, reproducing or recording the original record on a film or other durable material. A bank, licensee, or registered person may thereafter dispose of the original record after first obtaining the written consent of the division. This section, excepting that part of it which requires written consent of the division, is applicable to national banking associations insofar as it does not contravene federal law.

SB62, s. 564 Section 564. 221.0402 (2) (b) of the statutes is amended to read:

SB62,246,22 221.0402 (2) (b) Mortgage bankers registered licensed under s. 224.72 may use the designation "mortgage banker".

SB62, s. 565 Section 565. 224.71 (1ag) of the statutes is repealed.

SB62, s. 566 Section 566. 224.71 (1b) of the statutes is repealed.

SB62, s. 567 Section 567. 224.71 (1bm) of the statutes is created to read:

SB62,247,4 224.71 (1bm) "Another state" means any state of the United States other than Wisconsin; the District of Columbia; any territory of the United States; Puerto Rico; Guam; American Samoa; the Trust Territory of the Pacific Islands; the Virgin Islands; or the Northern Mariana Islands.

SB62, s. 568 Section 568. 224.71 (1c) of the statutes is created to read:

SB62,247,8 224.71 (1c) "Branch office" means an office or place of business, other than the principal office, located in this state or another state, where a mortgage banker or mortgage broker conducts business with residents of this state.

SB62, s. 569 Section 569. 224.71 (1d) of the statutes is repealed.

SB62, s. 570 Section 570. 224.71 (1dm) of the statutes is created to read:

SB62,247,12 224.71 (1dm) "Depository institution" has the meaning given in 12 USC 1813 (c) (1), but also includes any state or federal credit union.

SB62, s. 571 Section 571. 224.71 (1f) of the statutes is created to read:

SB62,247,14 224.71 (1f) "Dwelling" has the meaning given in 15 USC 1602 (v).

SB62, s. 572 Section 572. 224.71 (1g) of the statutes is renumbered 224.71 (14) and amended to read:

SB62,247,23 224.71 (14) "Loan Residential mortgage loan" means a any loan primarily for personal, family, or household purposes use that is secured by a lien or mortgage, or equivalent security interest, on a dwelling or residential real property located in this state. For purposes of this subsection, a loan secured by real property consisting of 1 to 4 dwelling units, including individual condominium units, is a loan for household purposes, but a loan made by a landlord to a tenant as described in sub. (3) (b) 4. is not a loan for household purposes.

SB62, s. 573 Section 573. 224.71 (1h) of the statutes is created to read:

SB62,248,4 224.71 (1h) "Federal banking agency" means the board of governors of the federal reserve system, the U.S. office of the comptroller of the currency, the U.S. office of thrift supervision, the national credit union administration, or the federal deposit insurance corporation.

SB62, s. 574 Section 574. 224.71 (1m) of the statutes is created to read:

SB62,248,10 224.71 (1m) "Finds," with respect to a residential mortgage loan, means to assist a residential mortgage loan applicant in locating a lender for the purpose of obtaining a residential mortgage loan and to make arrangements for a residential mortgage loan applicant to obtain a residential mortgage loan, including collecting information on behalf of an applicant and preparing a loan package.

SB62, s. 575 Section 575. 224.71 (1r) of the statutes is renumbered 224.71 (6) (a) (intro.) and amended to read:

SB62,248,17 224.71 (6) (a) (intro.) "Loan Mortgage loan originator" means a person who, on behalf of a mortgage banker or mortgage broker, finds a loan or negotiates a land contract, loan or commitment for a loan. an individual who is not excluded by par. (b) and who, for compensation or gain or in the expectation of compensation or gain, does any of the following:

SB62, s. 576 Section 576. 224.71 (1u) of the statutes is repealed.

SB62, s. 577 Section 577. 224.71 (2) of the statutes is created to read:

SB62,248,25 224.71 (2) "Loan processor or underwriter" means an individual who, as an employee, performs clerical or support duties at the direction of and subject to the supervision and instruction of a mortgage loan originator licensed under s. 224.725 or exempt from licensing under s. 224.726 (1), which clerical or support duties may include any of the following occurring subsequent to the receipt of a residential mortgage loan application:

SB62,249,2 (a) The receipt, collection, distribution, and analysis of information common for the processing or underwriting of a residential mortgage loan.

SB62,249,6 (b) Communicating with a residential mortgage loan applicant to obtain the information necessary for the processing or underwriting of a residential mortgage loan, to the extent that the communication does not include offering or negotiating loan rates or terms or providing counseling related to loan rates or terms.

SB62, s. 578 Section 578. 224.71 (3) (a) 1. to 3. of the statutes are amended to read:

SB62,249,9 224.71 (3) (a) 1. Originates residential mortgage loans for itself, as payee on the note evidencing the residential mortgage loan, or for another person.

SB62,249,11 2. Sells residential mortgage loans or interests in residential mortgage loans to another person.

SB62,249,13 3. Services residential mortgage loans or land contracts or provides escrow services.

SB62, s. 579 Section 579. 224.71 (3) (b) 1. to 7. of the statutes are repealed.

SB62, s. 580 Section 580. 224.71 (3) (b) 8., 9., 10., 11. and 12. of the statutes are created to read:

SB62,249,17 224.71 (3) (b) 8. A depository institution.

SB62,249,19 9. A subsidiary that is owned and controlled by a depository institution and regulated by a federal banking agency.

SB62,249,20 10. An institution regulated by the farm credit administration.

SB62,249,24 11. A person that only performs real estate brokerage activities and is licensed under s. 452.03, unless the person is compensated by a lender, mortgage broker, or mortgage loan originator or by any agent of a lender, mortgage broker, or mortgage loan originator.

SB62,250,2 12. A person solely involved in extensions of credit relating to time-share plans, as defined in 11 USC 101 (53D).

SB62, s. 581 Section 581. 224.71 (4) (a) of the statutes is amended to read:

SB62,250,8 224.71 (4) (a) "Mortgage broker" means a person who is not excluded by par. (b) and who, on behalf of a residential mortgage loan applicant or an investor and for commission, money, or other thing of value, finds a residential mortgage loan or negotiates a land contract, residential mortgage loan or commitment for a residential mortgage loan or engages in table funding.

SB62, s. 582 Section 582. 224.71 (4) (b) 1. to 3. of the statutes are repealed.

SB62, s. 583 Section 583. 224.71 (4) (b) 4., 5., 6., 7. and 8. of the statutes are created to read: