Assembly Bill 185 proposes changes to the property tax exemption for nonprofit theaters in Wisconsin. The bill repeals the existing statute 70.11 (29p) and renumbers 70.11 (29m) to 70.11 (29m) (a). It introduces a new provision, 70.11 (29m) (b), which expands the exemption to include property owned or leased by nonprofit organizations that operate one or more theaters for performing arts, regardless of whether they are indoors or outdoors. The new requirement stipulates that the total seating capacity of these theaters must be at least 240 persons, and the organization must have its federal tax-exempt status confirmed by the IRS in a determination letter issued no later than October 1, 1990.

The bill aims to make the property tax exemption more accessible to a broader range of nonprofit theaters, thereby supporting the performing arts community in Wisconsin. The changes will first apply to property tax assessments as of January 1, 2025. This legislation may also be reviewed by the Joint Survey Committee on Tax Exemptions due to its implications on state or local taxes.

Statutes affected:
Bill Text: 70.11(29p), 70.11