Senate Bill 536 proposes an amendment to the sales tax exemption for memberships sold to licensed real estate brokers in Wisconsin. The bill clarifies that the exemption applies to memberships where brokers offer to compensate or cooperate with other brokers in brokering property sales, rather than strictly requiring both actions. Specifically, the language changes from "compensate and cooperate" to "compensate or cooperate, or both," thereby broadening the scope of the exemption.

Additionally, the bill removes the requirement for brokers to obtain access to information about real estate listings and compensation offers from other brokers as a condition for the exemption. This change aims to simplify the eligibility criteria for the sales tax exemption, potentially benefiting more real estate brokers in the state. The bill is set to take effect on the first day of the third month following its publication.

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