LRB-0187/3
JK:jld:jf
2013 - 2014 LEGISLATURE
March 28, 2013 - Introduced by Senators Leibham,
Olsen, Schultz and Petrowski,
cosponsored by Representatives
Tittl, Thiesfeldt, Jacque, Kleefisch, Bies,
Nygren, LeMahieu and Ohnstad. Referred to Committee on Workforce
Development, Forestry, Mining, and Revenue.
SB113,1,2
1An Act to create 70.11 (12) (c) of the statutes;
relating to: a property tax
2exemption for a nonprofit resale store.
Analysis by the Legislative Reference Bureau
Under current law, the property of certain charitable organizations is exempt
from property taxes, including property owned by the Salvation Army, Goodwill
Industries, the Boy Scouts of America, and the Young Men's Christian Association.
Under this bill, the property of a resale store that is owned by a nonprofit
organization is exempt from property taxes, if at least 50 percent of the store's
revenue is given to another nonprofit organization located in the same county as the
store.
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 and local 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:
SB113,1
3Section
1. 70.11 (12) (c) of the statutes is created to read:
SB113,2,44
70.11
(12) (c) All property of a resale store that is owned by a nonprofit
5organization that qualifies for the income tax exemption under section
501 (c) (3) of
1the Internal Revenue Code, if at least 50 percent of the revenue generated by the
2resale store is given to one other nonprofit organization located in the same county
3where the resale store is located. In this paragraph, "resale store" means a store that
4primarily sells used tangible personal property at retail.
SB113,2
5Section
2.
Initial applicability.
SB113,2,66
(1) This act first applies to the property tax assessments as of January 1, 2014.
