An Act to amend 77.25 (8) of the statutes; Relating to: exempting certain conveyances between grandparents and grandchildren from the real estate transfer fee. (FE)
Summary
AB82 would expand an existing real estate transfer fee exemption to include conveyances of real estate interests between grandparents and grandchildren when the transfer is for nominal or no consideration. Under current law, the exemption already applies to transfers between parents and children, stepparents and stepchildren, and parents and sons-in-law or daughters-in-law. The bill adds grandparent-grandchild transfers to that list.
The bill is narrowly focused on a specific family-transfer situation and does not change the general rule that real estate conveyances are subject to a transfer fee and filing requirements. It would apply only to conveyances filed on or after the effective date of the act. Because the measure creates a new exemption from a state/local fee, it may also be reviewed by the Joint Survey Committee on Tax Exemptions and would have fiscal implications for transfer-fee revenue.
Impact
AB82 would amend s. 77.25 (8) of the Wisconsin Statutes to add grandparent-grandchild transfers for nominal or no consideration to the list of exempt conveyances from the real estate transfer fee. This would reduce transfer-fee liability for qualifying intra-family property transfers and slightly narrow the tax base for the fee. The bill affects property owners, county registers of deeds that process transfer returns, and state and local governments that receive transfer-fee revenue.
Sentiment
The available context suggests generally favorable or at least low-conflict treatment of the bill. The measure has bipartisan sponsorship, including both Assembly and Senate cosponsors, and there is no recorded committee opposition, vote tally, or transcript indicating controversy. The bill’s limited scope and family-transfer focus suggest it is being presented as a targeted tax relief measure rather than a broader policy change.
Contention
The main potential point of contention is fiscal: because the bill creates a new exemption from the real estate transfer fee, it could reduce revenue for state and local governments, which is why the bill is flagged for possible review by the Joint Survey Committee on Tax Exemptions. Any debate would likely center on whether extending the exemption to grandparent-grandchild transfers is an appropriate family-based carveout and whether the revenue loss is justified by the policy benefit. No specific objections or supporters are documented in the provided materials.
Crossfiled
An Act to amend 77.25 (8) of the statutes; Relating to: exempting certain conveyances between grandparents and grandchildren from the real estate transfer fee. (FE)