LRB-1374/1
JK:cjs
2023 - 2024 LEGISLATURE
February 6, 2023 - Introduced by Representatives Knodl, Armstrong, Moses,
Allen, Bodden, Brandtjen, Brooks, Callahan, Dittrich, Donovan, Duchow,
Edming, Goeben, Green, Gundrum, Gustafson, S. Johnson, Kitchens,
Magnafici, Maxey, Murphy, Mursau, Nedweski, Neylon, Novak, O'Connor,
Oldenburg, Penterman, Plumer, Rettinger, Rozar, Sapik, Schraa, Snyder,
Sortwell, Steffen, Summerfield, Tittl, Tranel, Tusler, VanderMeer,
Wichgers, Zimmerman, Swearingen, Binsfeld and Michalski, cosponsored by
Senators Stroebel, Testin, Jacque, Bradley, Cabral-Guevara, Feyen,
Hutton, James, LeMahieu, Nass, Quinn, Tomczyk, Wanggaard and
Wimberger. Referred to Committee on Ways and Means.
AB2,2,5
1An Act to repeal 60.85 (1) (f), 66.1105 (2) (d), 70.043 (2), 70.13 (3), 70.13 (7),
270.18, 70.19, 70.20, 70.21, 70.22, 70.29, 70.30, 70.34, 70.345, 70.35, 70.36, 70.47
3(15), 70.53 (1) (a), 70.65 (2) (a) 2., 70.68, 74.11 (4), 74.11 (11) (b), 74.11 (12) (a)
41g., 74.11 (12) (d), 74.12 (6), 74.12 (11) (a) 1g., 74.12 (11) (d), 74.30 (1) (i), 74.42,
574.47 (3) (e), 74.55 and 76.69;
to renumber 70.043 (1) and 74.11 (11) (a);
to
6consolidate, renumber and amend 70.65 (2) (a) (intro.) and 1.;
to amend
717.14 (1) (g), 26.03 (1m) (b) (intro.), 33.01 (9) (a), 33.01 (9) (am) 1. and 2., 33.01
8(9) (ar) 1., 33.01 (9) (b) 1., 60.85 (1) (h) 1. c., 60.85 (1) (o), 66.0435 (3) (c) 1. (intro.),
966.0435 (3) (g), 66.0435 (9), 66.1105 (2) (f) 1. c., 66.1106 (1) (k), 70.02, 70.05 (5)
10(a) 1., 70.17 (1), 70.174, 70.44 (1), 70.49 (2), 70.52, 70.65 (2) (b) (intro.), 70.73 (1)
11(b), 70.73 (1) (c), 70.73 (1) (d), 70.84, 70.855 (1) (intro.), 70.855 (1) (a), 70.855 (1)
12(b), 70.995 (1) (a), 70.995 (1) (b), 70.995 (4), 70.995 (7) (b), 70.995 (8) (b) 1., 70.995
13(12) (a), 71.17 (2), 74.05 (1), 74.09 (2), 74.11 (6) (a), 74.11 (10) (a) 1., 74.11 (12)
14(a) (intro.), 74.11 (12) (b), 74.12 (7) (a), 74.12 (8) (a), 74.12 (9) (a), 74.12 (10) (a),
174.12 (11) (a) (intro.), 74.12 (11) (b), 74.25 (1) (intro.), 74.29 (2), 74.30 (1m),
274.83, 74.87 (3), 76.125 (1), 77.84 (1), 174.065 (3), 815.18 (3) (intro.) and 978.05
3(6) (a); and
to create 60.85 (5) (j), 66.1105 (5) (j), 66.1106 (4) (e), 70.015, 70.111
4(28) and 70.17 (3) of the statutes;
relating to: eliminating the personal
5property tax.
Analysis by the Legislative Reference Bureau
Under current law, beginning with the property tax assessments as of January
1, 2018, machinery, tools, and patterns, not including those items used in
manufacturing, are exempt from the personal property tax. However, beginning in
2019, the state pays each taxing jurisdiction an amount equal to the property taxes
levied on those items of personal property for the property tax assessments as of
January 1, 2017.
Under the bill, beginning with the property tax assessments as of January 1,
2023, no items of personal property will be subject to the property tax.
The bill also makes a number of technical changes related to the repeal of the
personal property tax, such as providing a process whereby manufacturing
establishments located in this state that do not own real property in this state may
continue to claim the manufacturing income tax credit.