| 1 | | - | Date of enactment: |
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| 2 | | - | 2023 Assembly Bill 1022 Date of publication*: |
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| 3 | | - | 2023 WISCONSIN ACT |
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| 4 | | - | AN ACT to amend 71.07 (6) (am) 2. d.; and to create 71.07 (6) (am) 2. e. of the statutes; relating to: the married |
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| 5 | | - | persons credit. |
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| 6 | | - | The people of the state of Wisconsin, represented in |
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| 7 | | - | senate and assembly, do enact as follows: |
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| 8 | | - | SECTION 1. 71.07 (6) (am) 2. d. of the statutes is |
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| 9 | | - | amended to read: |
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| 10 | | - | 71.07 (6) (am) 2. d. For taxable years beginning after |
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| 11 | | - | December 31, 2000, and before January 1, 2024, 3 per- |
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| 12 | | - | cent of the earned income of the spouse with the lower |
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| 13 | | - | earned income, but not more than $480. |
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| 14 | | - | SECTION 2. 71.07 (6) (am) 2. e. of the statutes is cre- |
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| 15 | | - | ated to read: |
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| 16 | | - | 71.07 (6) (am) 2. e. For taxable years beginning after |
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| 17 | | - | December 31, 2023, 3 percent of the earned income of |
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| 18 | | - | the spouse with the lower earned income, but not more |
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| 19 | | - | than $870. |
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| 20 | | - | * Section 991.11, WISCONSIN STATUTES: Effective date of acts. “Every act and every portion of an act enacted by the legislature over the governor’s |
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| 21 | | - | partial veto which does not expressly prescribe the time when it takes effect shall take effect on the day after its date of publication.” |
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| 1 | + | LRB-5624/1 |
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| 2 | + | JK:cjs |
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| 3 | + | 2023 - 2024 LEGISLATURE |
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| 4 | + | 2023 ASSEMBLY BILL 1022 |
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| 5 | + | January 29, 2024 - Introduced by Representatives SCHUTT, KATSMA, KRUG, ALLEN, |
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| 6 | + | ARMSTRONG, AUGUST, BEHNKE, BINSFELD, BORN, BRANDTJEN, DITTRICH, |
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| 7 | + | DONOVAN, EDMING, GOEBEN, GREEN, GUNDRUM, HURD, KURTZ, MACCO, |
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| 8 | + | MAGNAFICI, MAXEY, MELOTIK, MOSES, MURPHY, MURSAU, NEDWESKI, O'CONNOR, |
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| 9 | + | OLDENBURG, PENTERMAN, PETRYK, PLUMER, RETTINGER, SCHMIDT, SCHRAA, |
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| 10 | + | SNYDER, SORTWELL, SPIROS, STEFFEN, TRANEL, WICHGERS, WITTKE and |
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| 11 | + | SWEARINGEN, cosponsored by Senators B ALLWEG, STROEBEL, BRADLEY, |
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| 12 | + | CABRAL-GUEVARA, FELZKOWSKI, FEYEN, JAGLER, MARKLEIN, NASS, QUINN, |
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| 13 | + | TESTIN, WANGGAARD and TOMCZYK. Referred to Joint Committee on Finance. |
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| 14 | + | ***AUTHORS SUBJECT TO CHANGE*** |
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| 15 | + | AN ACT to amend 71.07 (6) (am) 2. d.; and to create 71.07 (6) (am) 2. e. of the |
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| 16 | + | statutes; relating to: the married persons credit. |
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| 17 | + | Analysis by the Legislative Reference Bureau |
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| 18 | + | Under current law, married persons filing a joint income tax return may claim |
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| 19 | + | an income tax credit equal to 3 percent of the earned income for a taxable year of the |
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| 20 | + | spouse with the lower earned income, up to a maximum credit of $480. This bill |
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| 21 | + | increases the maximum credit amount to $870. |
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| 22 | + | For further information see the state fiscal estimate, which will be printed as |
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| 23 | + | an appendix to this bill. |
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| 24 | + | The people of the state of Wisconsin, represented in senate and assembly, do |
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| 25 | + | enact as follows: |
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| 26 | + | SECTION 1. 71.07 (6) (am) 2. d. of the statutes is amended to read: |
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| 27 | + | 71.07 (6) (am) 2. d. For taxable years beginning after December 31, 2000, and |
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| 28 | + | before January 1, 2024, 3 percent of the earned income of the spouse with the lower |
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| 29 | + | earned income, but not more than $480. |
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| 30 | + | SECTION 2. 71.07 (6) (am) 2. e. of the statutes is created to read: |
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| 37 | + | 7 - 2 -2023 - 2024 Legislature LRB-5624/1 |
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| 38 | + | JK:cjs |
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| 39 | + | SECTION 2 ASSEMBLY BILL 1022 |
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| 40 | + | 71.07 (6) (am) 2. e. For taxable years beginning after December 31, 2023, 3 |
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| 41 | + | percent of the earned income of the spouse with the lower earned income, but not |
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| 42 | + | more than $870. |
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| 43 | + | (END) |
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