February 26, 2025 - Introduced by Senators Wimberger, Marklein and Tomczyk, cosponsored by Representatives Franklin, Armstrong, Behnke, Dittrich, Knodl, Kreibich, Maxey, Melotik, Nedweski, Tusler and Sinicki. Referred to Committee on Insurance, Housing, Rural Issues and Forestry.
SB84,1,3
1An Act to amend 77.25 (8) of the statutes; relating to: exempting certain
2conveyances between grandparents and grandchildren from the real estate
3transfer fee. Analysis by the Legislative Reference Bureau
This bill exempts conveyances of real estate interests between grandparent and grandchild for nominal consideration from the real estate transfer fee. Subject to various exemptions, current law generally requires a person who conveys an interest in real estate to file a real estate transfer return with the county register of deeds and pay a real estate transfer fee equal to 30 cents for each $100 of the value of the conveyance.
Because this bill relates to an exemption from state or local taxes, it may be referred to the Joint Survey Committee on Tax Exemptions for a report to be printed as an appendix to the bill.
For further information see the state and local fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SB84,1
1Section 1. 77.25 (8) of the statutes is amended to read: SB84,2,4277.25 (8) Between parent and child, stepparent and stepchild, parent and son-3in-law or, parent and daughter-in-law, or grandparent and grandchild for nominal 4or no consideration. SB84,25Section 2. Initial applicability. SB84,2,76(1) This act first applies to conveyances filed on the effective date of this 7subsection.
