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Bills · 2015-2016 Regular Session

SB 765

Died at session end Official bill text Atom feed

Relating to: eliminating the personal property tax. (FE)

Data processing Legislature — Tax exemptions, joint survey committee on Municipality — Finance Municipality — Officers Property tax

  1. Introduced, stopped here
  2. Passes Senate, not reached
  3. Passes Assembly, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

This bill eliminates the property tax on personal property beginning in 2020.

The bill also eliminates, in 2016, the state aid payments to taxing jurisdictions based

on the value of computers and computer-related equipment that are exempt from the

personal property tax and that are located in the taxing jurisdictions.

Under the bill, personal property placed in service on or after January 1, 2016,

is not subject to the property tax. Personal property placed in service before January

1, 2016, is subject to the property tax based on the actual depreciated value of the

property.

Beginning with the assessments as of January 1, 2020, no personal property is

subject to the property tax. Under the bill, real property that was assessed as

personal property prior to January 1, 2020, will be assessed as real property and real

property placed in service on or after January 1, 2020, that would have been assessed

as personal property prior to that date will be assessed as real property.

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.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Harsdorf (R) , Kapenga (R) , Lasee (R) , Nass (R) , Stroebel (R) , Tiffany (R) , Vukmir (R)

17 cosponsors

Craig (R) , Duchow (R) , Gannon (R) , Horlacher (R) , Hutton (R) , Jacque (R) , Jarchow (R) , Katsma (R) , Kleefisch (R) , Kremer (R) , Kulp (R) , Macco (R) , Quinn (R) , Sanfelippo (R) , Skowronski (R) , Swearingen (R) , Tittl (R)

Full history

  1. Feb 23, 2016 · Senate

    Introduced by Senators Stroebel, Tiffany, Nass, Lasee, Harsdorf, Vukmir and Kapenga; cosponsored by Representatives Kulp, Jarchow, Craig, Jacque, Sanfelippo, Macco, Gannon, Katsma, Kremer, Tittl, Kleefisch, Horlacher, Hutton, Swearingen, Quinn, Skowronski and Duchow

  2. Feb 23, 2016 · Senate

    Read first time and referred to Committee on Revenue, Financial Institutions, and Rural Issues

  3. Feb 26, 2016 · Senate

    Fiscal estimate received

  4. Apr 13, 2016 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1