| 1 | 1 | | 2025 - 2026 LEGISLATURE |
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| 2 | 2 | | LRB-1295/1 |
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| 3 | 3 | | KP:cdc |
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| 4 | 4 | | 2025 SENATE BILL 84 |
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| 5 | 5 | | February 26, 2025 - Introduced by Senators WIMBERGER, MARKLEIN and TOMCZYK, |
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| 6 | 6 | | cosponsored by Representatives FRANKLIN, ARMSTRONG, BEHNKE, DITTRICH, |
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| 7 | 7 | | KNODL, KREIBICH, MAXEY, MELOTIK, NEDWESKI, TUSLER and SINICKI. |
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| 8 | 8 | | Referred to Committee on Insurance, Housing, Rural Issues and Forestry. |
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| 9 | 9 | | AN ACT to amend 77.25 (8) of the statutes; relating to: exempting certain |
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| 10 | 10 | | conveyances between grandparents and grandchildren from the real estate |
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| 11 | 11 | | transfer fee. |
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| 12 | 12 | | Analysis by the Legislative Reference Bureau |
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| 13 | 13 | | This bill exempts conveyances of real estate interests between grandparent |
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| 14 | 14 | | and grandchild for nominal consideration from the real estate transfer fee. Subject |
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| 15 | 15 | | to various exemptions, current law generally requires a person who conveys an |
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| 16 | 16 | | interest in real estate to file a real estate transfer return with the county register of |
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| 17 | 17 | | deeds and pay a real estate transfer fee equal to 30 cents for each $100 of the value |
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| 18 | 18 | | of the conveyance. |
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| 19 | 19 | | Because this bill relates to an exemption from state or local taxes, it may be |
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| 20 | 20 | | referred to the Joint Survey Committee on Tax Exemptions for a report to be |
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| 21 | 21 | | printed as an appendix to the bill. |
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| 22 | 22 | | For further information see the state and local fiscal estimate, which will be |
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| 23 | 23 | | printed as an appendix to this bill. |
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| 24 | 24 | | The people of the state of Wisconsin, represented in senate and assembly, do |
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| 25 | 25 | | enact as follows: |
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| 26 | 26 | | 1 |
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| 27 | 27 | | 2 |
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| 28 | 28 | | 3 2025 - 2026 Legislature |
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| 29 | 29 | | SENATE BILL 84 |
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| 30 | 30 | | - 2 - LRB-1295/1 |
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| 31 | 31 | | KP:cdc |
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| 32 | 32 | | SECTION 1 |
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| 33 | 33 | | SECTION 1. 77.25 (8) of the statutes is amended to read: |
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| 34 | 34 | | 77.25 (8) Between parent and child, stepparent and stepchild, parent and son- |
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| 35 | 35 | | in-law or, parent and daughter-in-law, or grandparent and grandchild for nominal |
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| 36 | 36 | | or no consideration. |
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| 37 | 37 | | SECTION 2. Initial applicability. |
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| 38 | 38 | | (1) This act first applies to conveyances filed on the effective date of this |
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| 39 | 39 | | subsection. |
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| 40 | 40 | | (END) |
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