Amendment ASA1-AB200

LRBs0060/1

JK:cdc

2019 - 2020 LEGISLATURE

ASSEMBLY SUBSTITUTE AMENDMENT 1, TO ASSEMBLY BILL 200

July 17, 2019 - Offered by Representative Sortwell.

AB200-ASA1,1,2 An Act to create 77.54 (69) and 77.54 (70) of the statutes; relating to: sales and use tax exemptions for precious metal bullion and cryptocurrency.

Analysis by the Legislative Reference Bureau

This bill creates a sales and use tax exemption for precious metal bullion and a sales tax exemption for cryptocurrency.

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

AB200-ASA1,1 Section 1. 77.54 (69) of the statutes is created to read:

AB200-ASA1,1,8 77.54 (69) (a) The sales price from the sale of and the use or other consumption of precious metal bullion. For purposes of this subsection, “precious metal bullion” means coins, bars, rounds, or sheets that contain gold, silver, copper, platinum, or palladium and that are marked with weight, purity, and content or for which the government issuer has certified the weight, purity, and content.

AB200-ASA1,2,3 (b) This subsection does not apply to any other tangible personal property that contains, in whole or in part, precious metal bullion, such as jewelry, works of art, scrap metal, or electronics.

AB200-ASA1,2 Section 2. 77.54 (70) of the statutes is created to read:

AB200-ASA1,2,5 77.54 (70) The sales price from the sale of cryptocurrency.

AB200-ASA1,2,6 (End)