WI
Wisconsin Senate Bill SB112

Wisconsin 2023-2024 Regular Session

Wisconsin Senate Bill SB112

Introduced
3/1/23  
Refer
3/1/23  

Caption

A pediatric cancer research tax credit. (FE)

Impact

The introduction of this tax credit is anticipated to have a substantial impact on the state's health research landscape. By financially incentivizing contributions to research institutions, the bill seeks to enhance funding for pediatric cancer studies, potentially leading to advancements in treatment and care for affected children. This credit also aims to lessen the financial burden on businesses, thereby encouraging them to invest in charitable contributions within their local communities.

Summary

Senate Bill 112 introduces a tax credit aimed at promoting pediatric cancer research in Wisconsin. The bill allows business entities to claim a tax credit for contributions made to certified pediatric cancer research institutions. Specifically, the credit limits the maximum amount claimable by an entity to $2,500,000 per taxable year, emphasizing a commitment to supporting research efforts in this critical area of health.

Contention

While the motivations behind SB112 align with public health interests, there are notable points of contention regarding the structures of tax credits and business contributions. Some stakeholders express concerns about possible tax revenue losses for the state, arguing that such credits could divert funds away from essential public services. Additionally, there are ongoing debates about the equitable distribution of these benefits and whether the bill addresses broader cancer research needs beyond pediatric conditions.

Companion Bills

No companion bills found.

Previously Filed As

WI AB110

A pediatric cancer research tax credit. (FE)

WI SB623

Creating a tax credit for employer child care programs and making an appropriation. (FE)

WI AB660

Creating a tax credit for employer child care programs and making an appropriation. (FE)

WI SB204

Creating a video game production tax credit and making an appropriation. (FE)

WI AB204

Creating a video game production tax credit and making an appropriation. (FE)

WI SB1025

Income tax credits for beginning farmers and owners of farm assets and making an appropriation. (FE)

WI AB1124

Income tax credits for beginning farmers and owners of farm assets and making an appropriation. (FE)

WI SB970

Creating a digital interactive media tax credit, granting rule-making authority, and making an appropriation. (FE)

WI AB1033

Creating a digital interactive media tax credit, granting rule-making authority, and making an appropriation. (FE)

WI SB393

Requiring universal changing stations in certain buildings, creating a tax credit for installation of the stations, and making an appropriation. (FE)

Similar Bills

WI AB110

A pediatric cancer research tax credit. (FE)

WI SB623

Creating a tax credit for employer child care programs and making an appropriation. (FE)

WI AB660

Creating a tax credit for employer child care programs and making an appropriation. (FE)

WI AB1125

Creating a tax credit for expenses related to film production services and for capital investments made by a film production company, making an appropriation, and granting rule-making authority. (FE)

WI SB1026

Creating a tax credit for expenses related to film production services and for capital investments made by a film production company, making an appropriation, and granting rule-making authority. (FE)

WI AB231

Creating a tax credit for expenses related to film production services and for capital investments made by a film production company, granting rule-making authority, and making an appropriation. (FE)

WI SB231

Creating a tax credit for expenses related to film production services and for capital investments made by a film production company, granting rule-making authority, and making an appropriation. (FE)

WI AB1170

Creating WisEARNS and making an appropriation. (FE)