LRB-3480/2
MES:jld:nwn
2007 - 2008 LEGISLATURE
December 11, 2007 - Introduced by Senators Taylor, Risser and Roessler,
cosponsored by Representatives
A. Ott, Grigsby, Mason, Zepnick, Soletski,
Turner and Berceau. Referred to Joint Survey Committee on Tax
Exemptions.
SB354,1,3
1An Act to create 71.05 (6) (b) 45. of the statutes;
relating to: exempting from
2income taxation certain employer-paid fringe benefits for mass transit
3expenses.
Analysis by the Legislative Reference Bureau
This bill creates an individual income tax exemption for the cost of a public
transportation pass provided by an employer to an employee, or for the money paid
by an employer to an employee to purchase such a pass, of up to $115 per month.
Under current federal law, for taxable years beginning in 2008, such passes, or funds
to pay for such passes, provided to an employee that have a value of $115 per month
or less are exempt from the income tax.
Because this bill relates to an exemption from state or local taxes, it may be
referred to the Joint Survey Committee on Tax Exemptions for a report to be printed
as an appendix to the bill.
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:
SB354, s. 1
4Section
1. 71.05 (6) (b) 45. of the statutes is created to read:
SB354,2,4
171.05
(6) (b) 45. Any amount paid by an employer to an employee for the
2purchase of a public transportation pass, token, or fare card, or the value of such a
3pass, token, or fare card provided by an employer to an employee, up to $115 per
4month.
SB354,2,96
(1) This act first applies to taxable years beginning on January 1 of the year
7in which this subsection takes effect, except that if this subsection takes effect after
8July 31 this act first applies to taxable years beginning on January 1 of the year
9following the year in which this subsection takes effect.
