Wisconsin 2023-2024 Regular Session

Wisconsin Senate Bill SB89 Compare Versions

Only one version of the bill is available at this time.

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1	1	LRB-0055/1
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3	3	2023 - 2024 LEGISLATURE
4	4	2023 SENATE BILL 89
5	5	March 1, 2023 - Introduced by Senators JACQUE and QUINN, cosponsored by
6	6	Representatives WICHGERS, ROZAR, ALLEN and BODDEN. Referred to
7	7	Committee on Universities and Revenue.
8	8	AN ACT to create 25.40 (1) (bn) and 77.61 (21) of the statutes; relating to:
9	9	depositing sales tax revenue from the sale of motor vehicles and motor vehicle
10	10	parts, accessories, and services into the transportation fund.
11	11	Analysis by the Legislative Reference Bureau
12	12	This bill requires the Department of Revenue to deposit into the transportation
13	13	fund a percentage of the sales tax revenue from the sale of motor vehicles and motor
14	14	vehicle parts, accessories, and services beginning with the taxes collected on July 1,
15	15	2023.
16	16	For further information see the state and local fiscal estimate, which will be
17	17	printed as an appendix to this bill.
18	18	The people of the state of Wisconsin, represented in senate and assembly, do
19	19	enact as follows:
20	20	SECTION 1. 25.40 (1) (bn) of the statutes is created to read:
21	21	25.40 (1) (bn) All moneys deposited under s. 77.61 (21).
22	22	SECTION 2. 77.61 (21) of the statutes is created to read:
23	23	77.61 (21) Beginning with the taxes the department receives on July 1, 2023,
24	24	the department shall annually estimate the amount of, and deposit into the
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32	32	8 - 2 -2023 - 2024 Legislature LRB-0055/1
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34	34	SECTION 2 SENATE BILL 89
35	35	transportation fund, the following percentages of the taxes collected under ss. 77.52
36	36	and 77.53 on the sale, lease, or use of motor vehicles and motor vehicle parts,
37	37	accessories, and services, on the basis of the annual sales and use tax collections, as
38	38	of the last day of the fiscal year, from sellers primarily engaged in businesses
39	39	classified under industry numbers 4411, 4412, 4413, 5321, and 811111 in the North
40	40	American Industry Classification System, 2017 edition, published by the federal
41	41	office of management and budget, and from sales and use taxes collected by the
42	42	department of transportation when registering motor vehicles with this state:
43	43	(a) For fiscal year 2023-24, 10 percent.
44	44	(b) For fiscal year 2024-25, 15 percent.
45	45	(c) For fiscal year 2025-26, 20 percent.
46	46	(d) For fiscal year 2026-27, 22.5 percent.
47	47	(e) For fiscal year 2027-28, 25 percent.
48	48	(f) For fiscal year 2028-29, 27.5 percent.
49	49	(g) For fiscal year 2029-30, 30 percent.
50	50	(h) For fiscal year 2030-31, 32.5 percent.
51	51	(i) For fiscal year 2031-32, 35 percent.
52	52	(j) For fiscal year 2032-33, 37.5 percent.
53	53	(k) For fiscal year 2033-34, 40 percent.
54	54	(L) For fiscal year 2034-35, 42.5 percent.
55	55	(m) For fiscal year 2035-36, 45 percent.
56	56	(n) For fiscal year 2036-37, 47.5 percent.
57	57	(o) For fiscal year 2037-38, and for each fiscal year thereafter, 50 percent.
58	58	(END)
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