LRB-1016/1
MES&PG:mfd:km
1997 - 1998 LEGISLATURE
January 15, 1997 - Introduced by Senator Wineke. Referred to Committee on
Economic Development, Housing and Government Operations.
SB13,1,3
1An Act to amend 71.54 (1) (d) (intro.), 71.54 (2) (b) 3. and 121.15 (3m) (b); and
2to create 71.54 (1) (e) and 71.54 (2) (b) 4. of the statutes;
relating to: expanding
3the homestead tax credit and reducing the state-funded school aid percentage.
Analysis by the Legislative Reference Bureau
Under current law, for claims filed in 1991 and thereafter, the homestead tax
credit threshold income is $8,000; the maximum amount of property taxes, or rent
constituting property taxes, that a claimant may use in calculating his or her credit
is $1,450; the maximum income is $19,154; and the percent of property taxes, or rent
constituting property taxes, that is reimbursed is 80%.
This bill changes current law starting with claims filed in 1999. Under this bill,
for claims filed in 1999 and thereafter, threshold income is raised to $25,000; the
maximum amount of property taxes, or rent constituting property taxes, is increased
to $5,000; the maximum income is raised to $108,333; and the percent of property
taxes, or rent constituting property taxes, that is reimbursed is increased to 90%.
Current law directs the department of administration, the department of public
instruction and the legislative fiscal bureau annually to certify to the joint committee
on finance by June 15 an estimate of the amount necessary to appropriate in the
following school year to fund 66.7% of school costs. This bill reduces this percentage
to 50% beginning with the certification that is required on June 15, 1998.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB13, s. 1
1Section
1. 71.54 (1) (d) (intro.) of the statutes is amended to read:
SB13,2,42
71.54
(1) (d) (title)
1991 and thereafter to 1998. (intro.) The amount of any
3claim filed in 1991
and thereafter to 1998 and based on property taxes accrued or rent
4constituting property taxes accrued during the previous year is limited as follows:
SB13, s. 2
5Section
2. 71.54 (1) (e) of the statutes is created to read:
SB13,2,86
71.54
(1) (e)
1999 and thereafter. The amount of any claim filed in 1999 and
7thereafter and based on property taxes accrued or rent constituting property taxes
8accrued during the previous year is limited as follows:
SB13,2,119
1. If the household income was $25,000 or less in the year to which the claim
10relates, the claim is limited to 90% of the property taxes accrued or rent constituting
11property taxes accrued or both in that year on the claimant's homestead.
SB13,2,1512
2. If the household income was more than $25,000 in the year to which the claim
13relates, the claim is limited to 90% of the amount by which the property taxes accrued
14or rent constituting property taxes accrued or both in that year on the claimant's
15homestead exceeds 6% of the household income exceeding $25,000.
SB13,2,1716
3. No credit may be allowed if the household income of a claimant exceeds
17$108,333.
SB13, s. 3
18Section
3. 71.54 (2) (b) 3. of the statutes is amended to read:
SB13,2,2019
71.54
(2) (b) 3. In calendar
year 1990 or any subsequent calendar year years
201990 to 1997, $1,450.
SB13, s. 4
21Section
4. 71.54 (2) (b) 4. of the statutes is created to read:
SB13,3,1
171.54
(2) (b) 4. In calendar year 1998 or any subsequent calendar year, $5,000.
SB13, s. 5
2Section
5. 121.15 (3m) (b) of the statutes is amended to read:
SB13,3,83
121.15
(3m) (b) By June 15, 1996, and annually by June 15 thereafter, the
4department, the department of administration and the legislative fiscal bureau shall
5jointly certify to the joint committee on finance an estimate of the amount necessary
6to appropriate under s. 20.255 (2) (ac) in the following school year to ensure that the
7sum of state school aids and the school levy tax credit under s. 79.10 (4) equals
66.7% 850% of partial school revenues.
SB13,3,1210
(1) The treatment of section 121.15 (3m) (b) of the statutes first applies to the
11certification that is required on or before June 15, 1998, under that section of the
12statutes.
