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 create a new subsection 70.11 (29m) (b). The revised exemption will now apply to property owned or leased by nonprofit organizations that operate one or more theaters for performing arts, regardless of whether they are indoors or outdoors. Additionally, the minimum seating capacity required for the theaters has been reduced from 400 to 240 persons.

To qualify for the exemption, the organization must still have its federal tax-exempt status confirmed by the IRS, but the deadline for this determination letter has been extended from July 31, 1969, to October 1, 1990. The bill aims to broaden the scope of the property tax exemption to support a wider range of nonprofit theaters, thereby promoting the performing arts within the state. The act will first apply to property tax assessments as of January 1, 2025.

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