LRB-0839/2
MES:kjf:ph
2009 - 2010 LEGISLATURE
February 2, 2010 - Introduced by Senators Taylor, Coggs and Carpenter,
cosponsored by Representatives
Toles, Fields, Berceau, Zepnick and Sinicki.
Referred to Committee on Health, Health Insurance, Privacy, Property Tax
Relief, and Revenue.
SB508,1,3
1An Act to create 71.05 (6) (b) 47. 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. This federal exemption applies for Wisconsin
purposes.
This bill first applies to taxable years beginning on January 1, 2011, except that
if the bill takes effect after July 31, 2011, it first applies to taxable years beginning
on January 1, 2012.
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:
SB508, s. 1
1Section
1. 71.05 (6) (b) 47. of the statutes is created to read:
SB508,2,52
71.05
(6) (b) 47. Any amount paid by an employer to an employee for the
3purchase of a public transportation pass, token, or fare card, or the value of such a
4pass, token, or fare card provided by an employer to an employee, up to $115 per
5month.
SB508,2,97
(1) This act first applies to taxable years beginning on January 1, 2011, except
8that if this subsection takes effect after July 31, 2011, this act first applies to taxable
9years beginning on January 1, 2012.
