SB218-SSA1,1,6 1An Act to repeal 70.35, 70.36 (1m) and 70.47 (15); to renumber and amend
266.0602 (2) and 79.095 (4); to amend 70.11 (39), 70.11 (39m), 70.17 (1), 70.36
3(1), 70.36 (2), 70.36 (3), 70.995 (12) (a), 121.004 (6), 121.15 (4) (a) and 121.90 (2)
4(am) 2.; and to create 20.835 (1) (f), 66.0602 (2) (b), 70.042, 70.17 (3), 79.095 (4)
5(b) and 79.096 of the statutes; relating to: eliminating the personal property
6tax and making an appropriation.

This substitute amendment eliminates the personal property tax in 2018.
Under the substitute amendment, improvements on leased land will be assessed as
real property.

Under current law, taxing jurisdictions are reimbursed by the state for the loss
of personal property tax revenue as a result of the exemption for computers and
computer-related equipment. Under the substitute amendment, taxing

jurisdictions are reimbursed by the state for the loss of personal property tax
revenue.

SB218-SSA1,2,32 20.835 (1) (f) State aid; personal property tax phase-out. A sum sufficient to
3make the state aid payments under s. 79.096.

SB218-SSA1,2,146 66.0602 (2) (a) Except as provided in subs. (3), (4), and (5), no political
7subdivision may increase its levy in any year by a percentage that exceeds the
8political subdivision's valuation factor. The Except as provided in par. (b), the base
9amount in any year, to which the limit under this section applies, shall be the actual
10levy for the immediately preceding year. In determining its levy in any year, a city,
11village, or town shall subtract any tax increment that is calculated under s. 59.57 (3)
12(a), 60.85 (1) (L), or 66.1105 (2) (i). The base amount in any year, to which the limit
13under this section applies, may not include any amount to which sub. (3) (e) 8.
14applies.

SB218-SSA1,2,2016 66.0602 (2) (b) For purposes of par. (a), in 2018, and in each year thereafter, the
17base amount to which the limit under this section applies is the actual levy for the
18immediately preceding year, plus the amount of the payment under s. 79.096, and
19the actual levy is the base amount multiplied by the valuation factor, minus the
20amount of the payment under s. 79.096.

SB218-SSA1,3,5

170.042 Personal property tax sunset. No personal property is subject to
2taxation under this chapter beginning with the property tax assessments as of
3January 1, 2018. A taxing jurisdiction may include the most recent valuation of
4personal property located in the taxing jurisdiction for purposes of complying with
5debt limitations applicable to the jurisdiction.