December 26, 2023 - Introduced by Senators Hutton, Testin and Nass, cosponsored by Representatives Krug, Duchow, Jacobson, Macco, Maxey, Murphy, Penterman, Steffen, Summerfield and Melotik. Referred to Committee on Universities and Revenue.
SB845,,22An Act to create 70.995 (2) (vb) and (vd), 71.07 (5n) (a) 9. d. and 71.28 (5n) (a) 9. d. of the statutes; relating to: standard industrial classification codes for linen supply and industrial launderers and modifying the manufacturing and agriculture tax credit. SB845,,33Analysis by the Legislative Reference Bureau Current law uses industry classifications set forth in the Standard Industrial Classification manual, published by the federal government, for a number of purposes, including to assess manufacturing property for property tax purposes. Taxpayers who own property assessed as manufacturing are also eligible to claim certain income tax credits and sales and use tax exemptions.
This bill adds SIC industry codes for linen supply and industrial launderers for the purpose of assessing the property of such industries as manufacturing property. The bill also modifies the definition of “qualified production property” for purposes of claiming the manufacturing and agriculture tax credit to include items that are laundered or dry cleaned and sold, leased, or rented to or exchanged with industrial, commercial, or government users.
For further information see the state and local fiscal estimate, which will be printed as an appendix to this bill.
SB845,,44The people of the state of Wisconsin, represented in senate and assembly, do enact as follows: SB845,15Section 1. 70.995 (2) (vb) and (vd) of the statutes are created to read: SB845,,6670.995 (2) (vb) 7213 - Linen supply. SB845,,77(vd) 7218 - Industrial launderers. SB845,28Section 2. 71.07 (5n) (a) 9. d. of the statutes is created to read: SB845,,9971.07 (5n) (a) 9. d. The following items that are laundered or dry cleaned by the claimant and sold, leased, or rented to or exchanged with industrial, commercial, or government users: uniforms, gowns, and coats of the type used by doctors, nurses, barbers, beauticians, and restaurant employees; table linens, bed linens, towels, and similar items; work uniforms and related work clothing, such as protective flame and heat resistant apparel and clean room apparel; mats and rugs; dust control items, such as treated mops, rugs, mats, dust tool covers, and cloths; wiping towels; and other similar items. SB845,310Section 3. 71.28 (5n) (a) 9. d. of the statutes is created to read: SB845,,111171.28 (5n) (a) 9. d. The following items that are laundered or dry cleaned by the claimant and sold, leased, or rented to or exchanged with industrial, commercial, or government users: uniforms, gowns, and coats of the type used by doctors, nurses, barbers, beauticians, and restaurant employees; table linens, bed linens, towels, and similar items; work uniforms and related work clothing, such as protective flame and heat resistant apparel and clean room apparel; mats and rugs; dust control items, such as treated mops, rugs, mats, dust tool covers, and cloths; wiping towels; and other similar items. SB845,412Section 4. Initial applicability. SB845,,1313(1) The treatment of s. 70.995 (2) (vb) and (vd) first applies to property tax exemptions as of January 1, 2024. SB845,,1414(2) The treatment of ss. 71.07 (5n) (a) 9. d. and 71.28 (5n) (a) 9. d. first applies to taxable years beginning on January 1, 2024.
