LRB-4062/2
JK:sac:rs
2013 - 2014 LEGISLATURE
February 7, 2014 - Introduced by Senators Harsdorf,
Shilling, Tiffany, Moulton
and Lasee, cosponsored by Representatives Bernier,
Billings, Kooyenga,
Kulp, Rodriguez, Kahl, Pridemore, Swearingen, Murphy, Thiesfeldt and
Ohnstad. Referred to Committee on Workforce Development, Forestry,
Mining, and Revenue.
SB577,1,3
1An Act to renumber and amend 70.111 (22); and
to create 70.111 (22) (b) of
2the statutes;
relating to: the property tax exemption for rented personal
3property.
Analysis by the Legislative Reference Bureau
Under current law, certain personal property held for rental for periods of one
month or less to multiple users for their temporary use is exempt from the property
tax, if the property owner is primarily engaged in the business of renting or leasing
property. Under this bill, certain property held primarily for rental for periods of 364
days or less to multiple users for their temporary use is exempt from the property tax,
if the property owner is primarily engaged in the business of renting or leasing heavy
equipment for construction, mining, or forestry.
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:
SB577,1
4Section
1. 70.111 (22) of the statutes is renumbered 70.111 (22) (a) and
5amended to read:
SB577,2,12
170.111
(22) (a)
Personal Except as provided in par. (b), personal property held
2for rental for periods of one month or less to multiple users for their temporary use,
3if the property is not rented with an operator, if the owner is not a subsidiary or
4affiliate of any other enterprise which is engaged in any business other than personal
5property rental, if the owner is classified in group number 735, industry number
67359 of the 1987 standard industrial classification manual published by the U.S.
7office of management and budget and if the property is equipment, including
8construction equipment but not including automotive and computer-related
9equipment, television sets, video recorders and players, cameras, photographic
10equipment, audiovisual equipment, photocopying equipment, sound equipment,
11public address systems and video tapes; party supplies; appliances; tools; dishes;
12silverware; tables; or banquet accessories.
SB577,2
13Section
2. 70.111 (22) (b) of the statutes is created to read:
SB577,2,2114
70.111
(22) (b) Personal property held primarily for rental for periods of 364
15days or less to multiple users for their temporary use, if the property is not rented
16with an operator, if the owner is not a subsidiary or affiliate of any other enterprise
17which is engaged in any business other than personal property rental, if the owner
18is classified under 532412 of the North American Industry Classification System,
192012 edition, published by the U.S. bureau of the census, and if the property is heavy
20equipment used for construction, mining, or forestry, including bulldozers,
21earthmoving equipment, well-drilling machinery and equipment, or cranes.
SB577,3
22Section
3.
Initial applicability.
SB577,2,2323
(1) This act first applies to the property tax assessments as of January 1, 2014.
