Eliminating obsolete statutory references regarding property, sales, and income taxes; the uniform unclaimed property act; and lottery games. (FE)
Impact
Additionally, the bill removes the certificate requirement for sales tax exemptions applied to patient healthcare records and farm-raised fish, potentially simplifying processes for businesses in those sectors. It updates definitions for the married persons tax credit, incorporates definitions from the Internal Revenue Code, and makes technical changes to laws governing unclaimed property. These adjustments are designed to streamline tax processes and enhance clarity within the legal framework governing these areas.
Summary
Senate Bill 738 addresses several issues related to tax legislation in Wisconsin, eliminating outdated statutory references and updating tax exemption requirements. The bill modifies the sales tax exemption for insulin, ensuring that individuals do not need to present an exemption certificate to access this exemption. This change aims to make insulin more accessible for patients requiring diabetes treatment, reflecting a broader policy stance on healthcare affordability.
Contention
Opposition to SB 738 could arise from various stakeholders who may see the removal of certain requirements as weakening consumer protection. The bill also modifies the existing rules regarding property tax assessments by eliminating certain rights of individuals making objections, which may raise concerns regarding fairness and transparency in property taxation. Overall, proponents argue that these changes create a more efficient tax system, while critics highlight potential risks to consumer rights and local autonomy.
County and municipal aid; imposing a city sales tax and an additional county sales tax to pay the unfunded actuarial accrued liability of city and county retirement systems; requiring newly hired city and county employees of certain city agencies and counties to be enrolled in the Wisconsin Retirement System; fire and police commissions of first class cities; eliminating the personal property tax; reporting certain crimes and other incidents that occur on school property or school transportation; advisory referenda; local health officers; local public protection services; exceptions to local levy limits; local regulation of certain quarry operations; emergency services; local approval of projects and activities under the Warren Knowles-Gaylord Nelson Stewardship 2000 Program; requiring a referendum; and granting rule-making authority. (FE)
County and municipal aid; imposing a city sales tax and an additional county sales tax to pay the unfunded actuarial accrued liability of city and county retirement systems; requiring newly hired city and county employees of certain city agencies and counties to be enrolled in the Wisconsin Retirement System; fire and police commissions of first class cities; eliminating the personal property tax; reporting certain crimes and other incidents that occur on school property or school transportation; advisory referenda; local health officers; local public protection services; exceptions to local levy limits; local regulation of certain quarry operations; emergency services; local approval of projects and activities under the Warren Knowles-Gaylord Nelson Stewardship 2000 Program; requiring a referendum; and granting rule-making authority. (FE)
To revise the West Virginia Tax Increment Financing Act to authorize a county commission or municipal levying body to modify the termination times of certain districts