2017 - 2018 LEGISLATURE
May 1, 2017 - Introduced by Representatives Sanfelippo, Vos,
E. Brooks, Duchow, Hintz, Horlacher, Katsma, Kolste, Kulp, Mursau, Ripp,
Rohrkaste, Skowronski, Steffen, Tauchen, Thiesfeldt, Tittl and Tusler,
cosponsored by Senators Wanggaard, Cowles, Erpenbach, Feyen and Olsen.
Referred to Committee on Ways and Means.
1An Act to create
71.05 (6) (b) 53. of the statutes; relating to: exempting from
2taxation the value of Olympic medals and certain payments received by
Analysis by the Legislative Reference Bureau
This bill exempts from taxation the value of an Olympic medal won by an
individual. The bill also exempts from taxation any payment received by such an
individual from the U.S. Olympic Committee to the extent that the payment is made
because the individual won an Olympic medal. The bill first applies, retroactively,
to taxable years beginning after December 31, 2015.
Because this bill relates to an exemption from state or local taxes, it may be
referred to the Joint Survey Committee on Tax Exemptions for a report to be printed
as an appendix to the bill.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
71.05 (6) (b) 53. of the statutes is created to read:
(b) 53. The value of any Olympic medal won by an individual in an 6
Olympic competition, and the amount of any payment such an individual receives
from the U.S. Olympic Committee, but only to the extent that the committee made 2
the payment because the individual won an Olympic medal.
(1) This act first applies, retroactively, to taxable years beginning after 5
December 31, 2015.