144 Relating to: the property tax exemption for rented personal property. (FE)

  Date of enactment: March 19, 2014
2013 Senate Bill 577   Date of publication*: March 20, 2014

* Section 991.11, Wisconsin Statutes : Effective date of acts. "Every act and every portion of an act enacted by the legislature over the governor's partial veto which does not expressly prescribe the time when it takes effect shall take effect on the day after its date of publication."

2013 WISCONSIN ACT 144

An Act to renumber and amend 70.111 (22); and to create 70.111 (22) (b) of the statutes; relating to: the property tax exemption for rented personal property.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

Section 1 . 70.111 (22) of the statutes is renumbered 70.111 (22) (a) and amended to read:

70.111 (22) (a) Personal Except as provided in par. (b), personal property held for rental for periods of one month or less to multiple users for their temporary use, if the property is not rented with an operator, if the owner is not a subsidiary or affiliate of any other enterprise which is engaged in any business other than personal property rental, if the owner is classified in group number 735, industry number 7359 of the 1987 standard industrial classification manual published by the U.S. office of management and budget and if the property is equipment, including construction equipment but not including automotive and computer-related equipment, television sets, video recorders and players, cameras, photographic equipment, audiovisual equipment, photocopying equipment, sound equipment, public address systems and video tapes; party supplies; appliances; tools; dishes; silverware; tables; or banquet accessories.

Section 2 . 70.111 (22) (b) of the statutes is created to read:

70.111 (22) (b) Personal property held primarily for rental for periods of 364 days or less to multiple users for their temporary use, if the property is not rented with an operator, if the owner is not a subsidiary or affiliate of any other enterprise which is engaged in any business other than personal property rental, if the owner is classified under 532412 of the North American Industry Classification System, 2012 edition, published by the U.S. bureau of the census, and if the property is heavy equipment used for construction, mining, or forestry, including bulldozers, earthmoving equipment, well-drilling machinery and equipment, or cranes.

Section 3 . Initial applicability.

(1) This act first applies to the property tax assessments as of January 1, 2014.