Wisconsin 2023-2024 Regular Session

Wisconsin Senate Bill SB266 Compare Versions

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

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1	1	LRB-2487/1
2	2	JK&KP:klm
3	3	2023 - 2024 LEGISLATURE
4	4	2023 SENATE BILL 266
5	5	May 2, 2023 - Introduced by Senators QUINN, BRADLEY, JAMES, STAFSHOLT, TESTIN,
6	6	TOMCZYK and N ASS, cosponsored by Representatives S UMMERFIELD,
7	7	ARMSTRONG, CALLAHAN, EDMING, GREEN, HURD, KRUG, KURTZ, MAGNAFICI,
8	8	MOSES, MURSAU, NOVAK, OLDENBURG, PETRYK, PRONSCHINSKE, ROZAR, SAPIK,
9	9	SNYDER, STEFFEN, SUBECK, SWEARINGEN, VANDERMEER and SHANKLAND.
10	10	Referred to Committee on Universities and Revenue.
11	11	AN ACT to create 71.05 (1) (i), 71.26 (3) (ag) 5., 71.34 (1k) (aj) and 71.45 (1) (dp)
12	12	of the statutes; relating to: an income and franchise tax exemption for
13	13	broadband expansion grants.
14	14	Analysis by the Legislative Reference Bureau
15	15	This bill exempts from state income and franchise taxes income received in the
16	16	form of a grant issued by the state or by the federal government for broadband
17	17	expansion in this state. Current law provides an income and franchise tax exemption
18	18	for income received in the form of allocations issued by this state with moneys
19	19	received from the federal Coronavirus Relief Fund to be used for broadband
20	20	expansion. The bill prohibits claiming the exemption under the bill and the
21	21	exemption under current law for the same grant.
22	22	Because this bill relates to an exemption from state or local taxes, it may be
23	23	referred to the Joint Survey Committee on Tax Exemptions for a report to be printed
24	24	as an appendix to the bill.
25	25	For further information see the state fiscal estimate, which will be printed as
26	26	an appendix to this bill.
27	27	The people of the state of Wisconsin, represented in senate and assembly, do
28	28	enact as follows:
29	29	SECTION 1. 71.05 (1) (i) of the statutes is created to read:
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33	33	4 - 2 -2023 - 2024 Legislature LRB-2487/1
34	34	JK&KP:klm
35	35	SECTION 1 SENATE BILL 266
36	36	71.05 (1) (i) Broadband expansion grants. Income received in the form of a
37	37	grant issued by the state or by the federal government for broadband expansion in
38	38	this state. No person may claim the exemption under this paragraph for amounts
39	39	claimed as an exemption under par. (h) 1.
40	40	SECTION 2. 71.26 (3) (ag) 5. of the statutes is created to read:
41	41	71.26 (3) (ag) 5. Income received in the form of a grant issued by the state or
42	42	by the federal government for broadband expansion in this state. No person may
43	43	claim the exemption under this subdivision for amounts claimed as an exemption
44	44	under subd. 2. a.
45	45	SECTION 3. 71.34 (1k) (aj) of the statutes is created to read:
46	46	71.34 (1k) (af) Section 61 of the Internal Revenue Code is modified so that
47	47	income received in the form of a grant issued by the state or by the federal
48	48	government for broadband expansion in this state is not taxable income. No person
49	49	may claim the exemption under this paragraph for amounts claimed as an exemption
50	50	under par. (af) 1.
51	51	SECTION 4. 71.45 (1) (dp) of the statutes is created to read:
52	52	71.45 (1) (dp) Income received in the form of a grant issued by the state or by
53	53	the federal government for broadband expansion in this state. No person may claim
54	54	the exemption under this subdivision for amounts claimed as an exemption under
55	55	par. (d) 1.
56	56	SECTION 5.0Initial applicability.
57	57	(1) BROADBAND EXPANSION GRANTS. This act first applies to taxable years
58	58	beginning after December 31, 2022.
59	59	(END)
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