AB245-ASA2,110 Section 110. 73.03 (77) of the statutes is created to read:

AB245-ASA2,47,9 73.03 (77) To annually produce a comparative local government spending report from information received under s. 73.10 and to create and maintain a web page on its Internet site to display the information contained in the report.

AB245-ASA2,111 Section 111 . 76.02 (1) of the statutes is amended to read:

AB245-ASA2,47,16 76.02 (1) “Air carrier company" means any person engaged in the business of transportation in aircraft of persons or property for hire on regularly scheduled flights, except an air carrier company whose property is exempt from taxation under s. 70.11 (42) (b) 76.074 (2). In this subsection, “aircraft" means a completely equipped operating unit, including spare flight equipment, used as a means of conveyance in air commerce.

AB245-ASA2,112 Section 112 . 76.025 (5) of the statutes is created to read:

AB245-ASA2,47,21 76.025 (5) Nothing in this chapter or ch. 70 shall be construed as providing an exemption for personal property for entities regulated under this chapter, except for the exemptions under ss. 70.11 (21), (39), and (39m), 70.112 (4) (b) and (5), and 76.074, and for such motor vehicles as are exempt under s. 70.112 (5).

AB245-ASA2,113 Section 113 . 76.03 (1) of the statutes is amended to read:

AB245-ASA2,48,2 76.03 (1) The property, both real and personal, including all rights, franchises and privileges used in and necessary to the prosecution of the business of any company enumerated in s. 76.02 shall be deemed personal property for the purposes of taxation, and shall be valued and assessed together as a unit.

AB245-ASA2,114 Section 114. 76.07 (2) of the statutes is amended to read:

AB245-ASA2,48,23 76.07 (2) Relation to state valuation; description. The value of the property of each of said companies company for assessment shall be made on the same basis and for the same period of time, as near as may be, as the value of the general property of the state is ascertained and determined. The department shall prepare an assessment roll and place thereon after the name of each of said companies company assessed, the following general description of the property of such company, to wit which the department shall deem and hold to include the entire property and franchises of the company specified and all title and interest therein: “ Real estate, right-of-way, tracks, stations, terminals, appurtenances, rolling stock, equipment, franchises, and all other real estate and personal property of said the company," in the case of railroads, and “Real estate, right-of-way, poles, wires, conduits, cables, devices, appliances, instruments, franchises, and all other real and personal property of said the company," in the case of conservation and regulation companies, and “Real estate, appurtenances, rolling stock, equipment, franchises, and all other real estate and personal property of said the company," in the case of air carrier companies, and “Land and land rights, structures, improvements, mains, pumping and regulation equipment, services, appliances, instruments, franchises , and all other real and personal property of said the company," in the case of pipeline companies, which description shall be deemed and held to include the entire property and franchises of the company specified and all title and interest therein.

AB245-ASA2,115 Section 115. 76.07 (4g) (a) 10. of the statutes is amended to read:

AB245-ASA2,49,3 76.07 (4g) (a) 10. Determine the depreciated cost of road real property owned or rented by the company and used in the operation of the company's business in this state.

AB245-ASA2,116 Section 116. 76.07 (4g) (a) 11. and 12. of the statutes are repealed.

AB245-ASA2,117 Section 117. 76.07 (4g) (a) 13. of the statutes is amended to read:

AB245-ASA2,49,7 76.07 (4g) (a) 13. Divide the sum of the amounts under subds. 10. and 12. amount under subd. 10. by the depreciated cost of road real property everywhere.

AB245-ASA2,118 Section 118 . 76.074 of the statutes is created to read:

AB245-ASA2,49,9 76.074 Property exempt from assessment. (1) In this section:

AB245-ASA2,49,13 (a) Notwithstanding s. 76.02, “air carrier company" means any person engaged in the business of transportation in aircraft of persons or property for hire on regularly scheduled flights. In this paragraph, “aircraft" has the meaning given in s. 76.02 (1).

AB245-ASA2,49,14 (b) “Hub facility" means any of the following:

AB245-ASA2,49,19 1. A facility at an airport from which an air carrier company operated at least 45 common carrier departing flights each weekday in the prior year and from which it transported passengers to at least 15 nonstop destinations, as defined by rule by the department, or transported cargo to nonstop destinations, as defined by rule by the department.

AB245-ASA2,49,23 2. An airport or any combination of airports in this state from which an air carrier company cumulatively operated at least 20 common carrier departing flights each weekday in the prior year, if the air carrier company's headquarters, as defined by rule by the department, is in this state.

AB245-ASA2,50,3 (2) Property owned by an air carrier company that operates a hub facility in this state, if the property is used in the operation of the air carrier company, is exempt from taxation under this subchapter and from local assessment and taxation.

AB245-ASA2,50,6 (3) For assessments after January 1, 2024, the personal property, as defined in s. 70.04, of a railroad company is exempt from taxation under this subchapter and from local assessment and taxation.

AB245-ASA2,119 Section 119. 76.125 (1) of the statutes is amended to read:

AB245-ASA2,50,13 76.125 (1) Using the statement of assessments under s. 70.53 and the statement of taxes under s. 69.61, the department shall determine the net rate of taxation of commercial property under s. 70.32 (2) (a) 2., and of manufacturing property under s. 70.32 (2) (a) 3. and of personal property under s. 70.30 as provided in subs. (2) to (6). The department shall enter that rate on the records of the department.

AB245-ASA2,120 Section 120 . 76.24 (2) (a) of the statutes is amended to read:

AB245-ASA2,50,25 76.24 (2) (a) All taxes paid by any railroad company derived from or apportionable to repair facilities, docks, ore yards, piers, wharves, grain elevators, and their approaches, or car ferries on the basis of the separate valuation provided for in s. 76.16, shall be distributed annually from the transportation fund to the towns, villages, and cities in which they are located, pursuant to certification made by the department of revenue on or before August 15. Beginning with amounts distributed in 2011 2024, the amount distributed to any town, village, or city under this paragraph may not be less than the amount distributed to it in 2010 2023 under this paragraph. Beginning with amounts distributed in 2025, the amount distributed to any town, village, or city under this paragraph may not be less than the amount distributed in 2024.

AB245-ASA2,121 Section 121. 76.31 of the statutes is amended to read:

AB245-ASA2,51,9 76.31 Determination of ad valorem tax receipts for hub facility exemptions. By July 1, 2004, and every Annually, by July 1 thereafter, the department shall determine the total amount of the tax imposed under subch. I of ch. 76 that was paid by each air carrier company, as defined in s. 70.11 (42) (a) 1. 76.02 (1), whose property is exempt from taxation under s. 70.11 (42) (b) 76.074 (2) for the most recent taxable year that the air carrier company paid the tax imposed under subch. I of ch. 76. The total amount determined under this section shall be transferred under s. 20.855 (4) (fm) to the transportation fund.