Wisconsin Legislative Council AMENDMENT MEMO One Ea st Ma in Stre e t, Suite 401 • Ma dison, W I 53703 • (608) 266-1304 • le g.council@le gis.wisconsin.gov • http://www.le gis.wisconsin.gov/lc Memo published: January 25, 2024 Contact: Abby Gorzlancyk, Staff Attorney 2023 Assembly Bill 277 Assembly Amendment 1 2023 ASSEMBLY BILL 277 2023 Assembly Bill 277 decreases the real estate transfer fee and provides incremental increases to the county’s share of the collected fees. Under current law, a person conveying real estate to another must pay a real estate transfer fee to the county register of deeds. The fee is 30 cents for each $100 of value of the real estate. The county retains 20 percent of the fees collected and transmits the remainder to the state. Assembly Bill 277 decreases the fee to 20 cents per $100 of land value. The bill also provides that in 2023 and 2024, the county will retain 30 percent of the fees, in 2025, the county will retain 40 percent, and in 2026 and beyond, the county will retain 50 percent of the fees. The bill does not prescribe an effective date and would take effect the day after its date of publication. 1 ASSEMBLY AMENDMENT 1 Assembly Amendment 1 alters the initial applicability of the bill by specifying that the effective date is “the first day of the 3 rd month” following publication. BILL HISTORY Representative Green offered Assembly Amendment 1 on June 16, 2023. On January 24, 2024, the Assembly Committee on Housing and Real Estate recommended adoption of Assembly Amendment 1 on a vote of Ayes, 12; Noes, 1, and passage of the bill, as amended, on a vote of Ayes, 9; Noes, 6. For a full history of the bill, visit the Legislature’s bill history page. AG:ksm 1 Under s. 991.11, Stats., any act that does not prescribe an effective date will take effect on the day following the day of publication.