AB235-SSA1,2,34
66.0602
(3) (n) 1. For a political subdivision that receives a payment under s.
579.04 (5) (a) or (b), the limit otherwise applicable under this section is increased by
6the amount that the political subdivision levies in that year to replace a revenue
7reduction incurred under s. 79.04 (5) (a) or (b). Subject to subd. 2., the amount levied
8under this paragraph for a particular property may not exceed the amount paid to
9the political subdivision under s. 79.04 (5) (a) 1. or (b) 1. less the amount to be paid
10to the political subdivision under s. 79.04 (5) (a) or (b) in the year in which the levy
11is imposed and less any amounts previously levied under this paragraph. A revenue
1reduction is incurred under this paragraph when the amount received by a political
2subdivision under s. 79.04 (5) (a) or (b) in the current year is less than the amount
3received under s. 79.04 (5) (a) or (b) in the previous year.
AB235-SSA1,2,94
2. This paragraph applies to revenue reductions for which a payment under s.
579.04 (5) (a) or (b) is made after the effective date of this subdivision .... [LRB inserts
6date]. If the first payment made under s. 79.04 (5) (a) or (b) after the effective date
7of this subdivision .... [LRB inserts date], is under s. 79.04 (5) (a) 2. to 5. or (b) 2. to
85., the amount of the payment made under s. 79.04 (5) (a) or (b) in the previous year
9shall be used in determining the maximum amount of revenue reduction incurred.
AB235-SSA1,2,1111
(1) This act first applies to a levy that is imposed in December 2020.
