AB387-ASA1,1,64 70.11 (43) Wetlands. Wetlands, as defined in s. 23.32 (1), that are subject to
5an ordinance under s. 59.692 (1m) and (2) (b), 61.351, or 62.231 and that are not used
6for agricultural purposes, as defined in s. 23.33 (1) (ag).

AB387-ASA1,1,12 874.485 Interest and penalty on rezoned wetlands. (1) If property that is
9exempt under s. 70.11 (43) becomes taxable, except as a result of remapping by the
10department of natural resources, the current owner, on or before January 15, shall
11pay to the taxation district in which the wetlands are located an amount calculated
12as follows:

AB387-ASA1,2,6

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1(a) Increase the assessed value of the property, as determined as of the January
21 before the effective date of this paragraph .... [revisor inserts date], by the increase
3in the consumer price index, all items, U.S. city average, as determined by the U.S.
4department of labor, for the year beginning on January 1, and determine the
5property taxes that would have been due on the property if it had been assessed at
6that amount and if it had been taxable.

AB387-ASA1,2,117 (b) For each subsequent year that the property was exempt, increase the value
8determined for the property for the previous year by the increase during the previous
9year in the consumer price index, all items, U.S. city average, as determined by the
10U.S. department of labor, and determine the property taxes that would have been due
11on the property if it had been assessed at that amount and if it had been taxable.

AB387-ASA1,2,1512 (c) For each of the years for which an amount is calculated under par. (a) or (b),
13add interest at the rate of 6% per year beginning with the year for which the amount
14is calculated under par. (a) and ending with the year during which the property is
15no longer exempt.

AB387-ASA1,2,1716 (d) Add the amounts determined under pars. (a) to (c) for all of the years during
17which the current owner owned the property.

AB387-ASA1,2,22 18(2) As part of the next settlement of taxes under s. 74.25 or 74.30 (1) or under
19subch. IX, the taxation district shall distribute to each taxing jurisdiction for which
20it collects property taxes its share of the amount collected under sub. (1). On or before
21January 10, the taxation district shall notify the department of revenue if a payment
22is required under sub. (1).

AB387-ASA1,2,24 23(3) Any amount due under sub. (1) that is not timely paid is subject to interest
24at the rate of 0.5% per month or part of a month.