Assembly Bill 814 proposes a sales and use tax exemption for movie projectors sold to movie theaters in Wisconsin. The bill creates a new statute, 77.54 (76), which specifies that the sales price from the sale, storage, use, or consumption of these projectors will be exempt from sales and use tax. Additionally, the Department of Revenue is tasked with monitoring the cumulative decrease in tax revenues resulting from this exemption, specifically when it reaches $2,000,000. Upon reaching this threshold, the Department must notify the Legislative Reference Bureau for publication in the Wisconsin Administrative Register.

The exemption will remain in effect until either two years after the bill takes effect or the beginning of the third month following the Department's notice, whichever occurs first. This measure aims to support the movie theater industry by reducing operational costs associated with purchasing projectors. The bill has been referred to the Committee on Ways and Means for further consideration.