| 1 | 1 | | LRB-5641/1 |
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| 2 | 2 | | JK:amn&cjs |
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| 3 | 3 | | 2023 - 2024 LEGISLATURE |
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| 4 | 4 | | 2023 SENATE BILL 1095 |
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| 5 | 5 | | March 27, 2024 - Introduced by Senator WIRCH, cosponsored by Representative |
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| 6 | 6 | | BALDEH. Referred to Committee on Universities and Revenue. |
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| 7 | 7 | | AN ACT to create 20.835 (2) (cd) of the statutes; relating to: providing a tax |
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| 8 | 8 | | rebate for 2024. |
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| 9 | 9 | | Analysis by the Legislative Reference Bureau |
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| 10 | 10 | | This bill creates a onetime tax rebate payable in 2024. Under the bill, all |
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| 11 | 11 | | individuals filing an individual income tax return for the 2023 tax year will receive |
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| 12 | 12 | | a rebate payment of $982, and married persons filing a joint return will also receive |
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| 13 | 13 | | a rebate payment of $982. The bill provides that all rebate payments be made no |
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| 14 | 14 | | later than December 31, 2024. Under the bill, a nonresident or part-year resident |
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| 15 | 15 | | is not eligible for the rebate. |
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| 16 | 16 | | For further information see the state fiscal estimate, which will be printed as |
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| 17 | 17 | | an appendix to this bill. |
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| 18 | 18 | | The people of the state of Wisconsin, represented in senate and assembly, do |
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| 19 | 19 | | enact as follows: |
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| 20 | 20 | | SECTION 1. 20.835 (2) (cd) of the statutes is created to read: |
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| 21 | 21 | | 20.835 (2) (cd) Tax rebate for 2024. A sum sufficient to make the payments |
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| 22 | 22 | | approved under 2023 Wisconsin Act .... (this act), section 2 (1). |
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| 23 | 23 | | SECTION 2.0Nonstatutory provisions. |
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| 29 | 29 | | 6 - 2 -2023 - 2024 Legislature LRB-5641/1 |
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| 30 | 30 | | JK:amn&cjs |
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| 31 | 31 | | SECTION 2 SENATE BILL 1095 |
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| 32 | 32 | | (1) TAX REBATE FOR 2024. |
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| 33 | 33 | | (a) An individual who files a Wisconsin individual income tax return for the |
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| 34 | 34 | | taxable year beginning after December 31, 2022, and before January 1, 2024, shall |
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| 35 | 35 | | receive a rebate under this subsection equal to $982. Married persons filing a joint |
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| 36 | 36 | | return shall receive a rebate under this subsection equal to $982. A nonresident or |
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| 37 | 37 | | part-year resident is not eligible to receive a rebate under this subsection. |
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| 38 | 38 | | (b) For each rebate under this subsection approved by the department of |
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| 39 | 39 | | revenue, the department shall certify the allowable amount of the rebate to the |
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| 40 | 40 | | department of administration for payment drawn from the appropriation account |
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| 41 | 41 | | under s. 20.835 (2) (cd). The department of administration shall make all payments |
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| 42 | 42 | | made under this paragraph no later than December 31, 2024. |
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| 43 | 43 | | (END) |
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