Wisconsin 2023-2024 Regular Session

Wisconsin Assembly Bill AB272 Compare Versions

Only one version of the bill is available at this time.

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3	3	2023 - 2024 LEGISLATURE
4	4	2023 ASSEMBLY BILL 272
5	5	May 17, 2023 - Introduced by Representatives S UMMERFIELD, ARMSTRONG,
6	6	CALLAHAN, EDMING, GREEN, HURD, KRUG, KURTZ, MAGNAFICI, MOSES, MURSAU,
7	7	NOVAK, OLDENBURG, PETRYK, PRONSCHINSKE, ROZAR, SAPIK, SHANKLAND,
8	8	SNYDER, STEFFEN, SUBECK, SWEARINGEN, VANDERMEER and ALLEN, cosponsored
9	9	by Senators QUINN, BRADLEY, JAMES, NASS, STAFSHOLT, TESTIN, TOMCZYK,
10	10	BALLWEG and FELZKOWSKI. Referred to Committee on Ways and Means.
11	11	Referred to Joint Survey Committee on Tax Exemptions.
12	12	*AUTHORS SUBJECT TO CHANGE*
13	13	AN ACT to create 71.05 (1) (i), 71.26 (3) (ag) 5., 71.34 (1k) (aj) and 71.45 (1) (dp)
14	14	of the statutes; relating to: an income and franchise tax exemption for
15	15	broadband expansion grants.
16	16	Analysis by the Legislative Reference Bureau
17	17	This bill exempts from state income and franchise taxes income received in the
18	18	form of a grant issued by the state or by the federal government for broadband
19	19	expansion in this state. Current law provides an income and franchise tax exemption
20	20	for income received in the form of allocations issued by this state with moneys
21	21	received from the federal Coronavirus Relief Fund to be used for broadband
22	22	expansion. The bill prohibits claiming the exemption under the bill and the
23	23	exemption under current law for the same grant.
24	24	Because this bill relates to an exemption from state or local taxes, it may be
25	25	referred to the Joint Survey Committee on Tax Exemptions for a report to be printed
26	26	as an appendix to the bill.
27	27	For further information see the state fiscal estimate, which will be printed as
28	28	an appendix to this bill.
29	29	The people of the state of Wisconsin, represented in senate and assembly, do
30	30	enact as follows:
31	31	SECTION 1. 71.05 (1) (i) of the statutes is created to read:
32	32	1
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35	35	4 - 2 -2023 - 2024 Legislature LRB-2821/1
36	36	JK&KP:klm
37	37	SECTION 1 ASSEMBLY BILL 272
38	38	71.05 (1) (i) Broadband expansion grants. Income received in the form of a
39	39	grant issued by the state or by the federal government for broadband expansion in
40	40	this state. No person may claim the exemption under this paragraph for amounts
41	41	claimed as an exemption under par. (h) 1.
42	42	SECTION 2. 71.26 (3) (ag) 5. of the statutes is created to read:
43	43	71.26 (3) (ag) 5. Income received in the form of a grant issued by the state or
44	44	by the federal government for broadband expansion in this state. No person may
45	45	claim the exemption under this subdivision for amounts claimed as an exemption
46	46	under subd. 2. a.
47	47	SECTION 3. 71.34 (1k) (aj) of the statutes is created to read:
48	48	71.34 (1k) (af) Section 61 of the Internal Revenue Code is modified so that
49	49	income received in the form of a grant issued by the state or by the federal
50	50	government for broadband expansion in this state is not taxable income. No person
51	51	may claim the exemption under this paragraph for amounts claimed as an exemption
52	52	under par. (af) 1.
53	53	SECTION 4. 71.45 (1) (dp) of the statutes is created to read:
54	54	71.45 (1) (dp) Income received in the form of a grant issued by the state or by
55	55	the federal government for broadband expansion in this state. No person may claim
56	56	the exemption under this subdivision for amounts claimed as an exemption under
57	57	par. (d) 1.
58	58	SECTION 5.0Initial applicability.
59	59	(1) BROADBAND EXPANSION GRANTS. This act first applies to taxable years
60	60	beginning after December 31, 2022.
61	61	(END)
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