Effect on small business: This proposed rule order does not affect small business.
Agency contact person: Please contact Jen Chadwick at (608) 266-8253 or jennifer.chadwick@wisconsin.gov, if you have any questions regarding this proposed rule. Place where comments are to be submitted and deadline for submission: Comments may be submitted to the contact person shown below no later than the date on which the public hearing on this proposed rule is conducted. Information as to the place, date, and time of the public hearing will be published in the Wisconsin Administrative Register.
Jen Chadwick
Department of Revenue
Mail Stop 6-40
2135 Rimrock Road
P.O. Box 8933
Madison, WI 53708-8933
SECTION 1. Tax 3.095 (4) (a) (title) and (b) (title), 8., 11., 12., and 16. are amended to read:
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.
