Assembly Bill 82 proposes an amendment to Wisconsin's real estate transfer fee regulations by exempting certain conveyances of real estate interests between grandparents and grandchildren when the transfer is for nominal or no consideration. Currently, the law requires individuals who convey real estate interests to file a transfer return and pay a fee based on the value of the conveyance, which is set at 30 cents for every $100. The bill aims to expand the existing exemptions that already include transfers between parents and children, stepparents and stepchildren, and parents and in-laws.

The specific legal language changes include the addition of "grandparent and grandchild" to the list of exempt relationships in the statute, while removing the conjunction "or" before "parent and daughter-in-law." This amendment is intended to facilitate family transfers of property without the burden of additional fees, thereby promoting intergenerational property transfers. The bill is currently under review by the Committee on Housing and Real Estate and may also be referred to the Joint Survey Committee on Tax Exemptions for further evaluation.

Statutes affected:
Bill Text: 77.25(8), 77.25