Senate Bill 536 proposes an amendment to the sales tax exemption for memberships sold to licensed real estate brokers in Wisconsin. The bill modifies the existing language in statute 77.54 (72) by changing the requirement for brokers to offer compensation or cooperation with other brokers from "and" to "or," allowing for greater flexibility in membership agreements. Additionally, the bill includes the phrase "or both" to clarify that brokers can choose to either compensate or cooperate with other brokers, or do both, in their property transactions.

This amendment aims to streamline the sales tax exemption process for real estate brokers, potentially encouraging more brokers to engage in cooperative sales practices. The bill is set to take effect on the first day of the third month following its publication, pending any necessary review by the Joint Survey Committee on Tax Exemptions due to its relation to tax exemptions.

Statutes affected:
Bill Text: 77.54(72), 77.54