Senate Bill 812 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 to publish the date of this revenue decrease 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 bill is part of a broader legislative effort to support the movie theater industry and may be reviewed by the Joint Survey Committee on Tax Exemptions due to its implications on state and local tax revenues. The act is set to take effect on the first day of the third month after its publication.