Tax 3.095 (4) (a) (title) Exempt stateState, municipal and other government securities. exempt from Wisconsin income tax.
(b) (title) Exempt federal Federal securities exempt from Wisconsin income tax.
8. Federal Farm Credit Banks Consolidated Systemwide Securities, 12 USC 20552023. 12. Federal Land Bank Association bonds, notes and debentures, 12 USC 20552098. SECTION 2. Tax 3.095 (4) (b) 18e., 18m., 18s., 21g., and 21r. are created to read:
Tax 3.095 (4) (b) 18e. General Insurance Fund debentures issued under the National Defense Housing Insurance, 12 USC 1750c (d). 18m. General Insurance Fund debentures issued under the Neighborhood Conservation Housing Insurance, 12 USC 1715k (h) (7). 18s. General Insurance Fund debentures issued under the Rental Housing Insurance, 12 USC 1713 (i). 21g. National Credit Union Central Liquidity Facility, 12 USC 1795k (b). 21r. Northern Mariana Islands, 48 USC 1801 and s. 607 (a) of the Covenant to Establish a Commonwealth of the Northern Mariana Islands. SECTION 3. Tax 3.095 (4) (b) 24. and 38. and (5) (b) 1., 12., 13., 15., and 17. are amended to read:
Tax 3.095 (4) (b) 24. Production Credit Association debentures obligations, 12 USC 20982077. 38. Student Loan Marketing Association obligations, 20 USC 1087−211087-2 (L). (5) (b) 1. Other taxable securities. 1. Asian Development Bank bonds, 22 USC 290i−9285h. 12. Government National Mortgage Association, or Ginnie Mae, bonds, 12 USC 1720 and 1721. 15. Inter−American Development Bank bonds securities, 22 USC 283283h. 17. International Bank for Reconstruction and Development bonds, also known as World Bank bonds, 22 USC 286286k-1. SECTION 4. Tax 3.095 (5) (b) 17m. is created to read:
Tax 3.095 (5) (b) 17m. National Consumer Cooperative Bank, 12 USC 3017 (c). SECTION 5. Tax 3.095 (5) (b) 22. and 23. are amended to read:
Tax 3.095 (5) (b) 22. Virgin Islands Housing Authority bonds issued after January 28, 1987, 48 USC 1408 (a)1408a. 23. World Bank bonds, also known as International Bank for Reconstruction and Development bonds, 22 USC 286286k-1. SECTION 6. Effective date; general. This rule shall take effect on the first day of the month following publication in the Wisconsin Administrative Register as provided in s. 227.22 (2) (intro.), Stats.
DEPARTMENT OF REVENUE
Dated: By: ___________________________
Peter W. Barca
Secretary of Revenue
E:Rules/163 – Exempt and Taxable Securities/Chapter Tax 3 Proposed Order
