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Bill > AB910
WI AB910
A property tax exemption for all machinery, tools, and patterns; a reduction of state general obligation and variable rate debt supported by general purpose revenue; and increasing the maximum deduction under the individual income tax sliding scale standard deduction. (FE)
summary
Introduced
02/14/2020
02/14/2020
In Committee
02/18/2020
02/18/2020
Crossed Over
Passed
Dead
04/01/2020
04/01/2020
Introduced Session
2019-2020 Regular Session
Bill Summary
An Act to renumber 70.111 (27) (b); to renumber and amend 79.096 (1) and 79.096 (2) (a); to amend 16.518 (title), 16.518 (3) (b) 1., 71.05 (22) (dp) (title), 71.05 (22) (dp) 1., 71.05 (22) (dp) 2., 71.05 (22) (dt), 71.05 (22) (f) 4. b. and 79.096 (3); and to create 16.518 (4), 70.111 (27) (b) 2., 71.05 (22) (dq), 79.096 (1) (b), 79.096 (2) (a) 1. and 79.096 (2) (a) 2. of the statutes; Relating to: a property tax exemption for all machinery, tools, and patterns; a reduction of state general obligation and variable rate debt supported by general purpose revenue; and increasing the maximum deduction under the individual income tax sliding scale standard deduction. (FE)
AI Summary
This bill proposes several key changes:
1. It provides a property tax exemption for all machinery, tools, and patterns starting in 2020. The state will make payments to local taxing jurisdictions to offset the loss in property tax revenue.
2. It requires the Secretary of Administration to coordinate with the Building Commission to reduce state general obligation and variable rate debt supported by general purpose revenue by a specified amount each fiscal year following a year when funds are certified for this purpose.
3. It increases the maximum deduction under the individual income tax sliding scale standard deduction starting in 2020, and adjusts the income thresholds and deduction amounts accordingly.
Committee Categories
Budget and Finance
Sponsors (6)
John Nygren (R)*,
Jim Steineke (R)*,
Robin Vos (R)*,
Alberta Darling (R),
Scott Fitzgerald (R),
Roger Roth (R),
Last Action
Failed to pass pursuant to Senate Joint Resolution 1 (on 04/01/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://docs.legis.wisconsin.gov/2019/proposals/reg/asm/bill/ab910 |
| BillText | http://docs.legis.wisconsin.gov/document/proposaltext/2019/REG/AB910.pdf |
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