| 1 | 1 | | LRB-5677/1 |
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| 2 | 2 | | JK:cjs |
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| 3 | 3 | | 2023 - 2024 LEGISLATURE |
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| 4 | 4 | | 2023 SENATE BILL 979 |
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| 5 | 5 | | January 30, 2024 - Introduced by Senators BALLWEG, STROEBEL, BRADLEY, |
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| 6 | 6 | | CABRAL-GUEVARA, FELZKOWSKI, FEYEN, JAGLER, MARKLEIN, NASS, QUINN, TESTIN |
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| 7 | 7 | | and WANGGAARD, cosponsored by Representatives SCHUTT, KATSMA, KRUG, |
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| 8 | 8 | | ALLEN, ARMSTRONG, AUGUST, BEHNKE, BORN, BRANDTJEN, BINSFELD, DITTRICH, |
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| 9 | 9 | | DONOVAN, EDMING, GOEBEN, GREEN, GUNDRUM, HURD, KURTZ, MACCO, |
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| 10 | 10 | | MAGNAFICI, MAXEY, MELOTIK, MOSES, MURPHY, MURSAU, NEDWESKI, O'CONNOR, |
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| 11 | 11 | | OLDENBURG, PENTERMAN, PETRYK, PLUMER, RETTINGER, SCHMIDT, SCHRAA, |
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| 12 | 12 | | SNYDER, SORTWELL, SPIROS, STEFFEN, TRANEL, WICHGERS and WITTKE. Referred |
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| 13 | 13 | | to Joint Committee on Finance. |
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| 14 | 14 | | ***AUTHORS SUBJECT TO CHANGE*** |
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| 15 | 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 | 16 | | statutes; relating to: the married persons credit. |
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| 17 | 17 | | Analysis by the Legislative Reference Bureau |
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| 18 | 18 | | Under current law, married persons filing a joint income tax return may claim |
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| 19 | 19 | | an income tax credit equal to 3 percent of the earned income for a taxable year of the |
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| 20 | 20 | | spouse with the lower earned income, up to a maximum credit of $480. This bill |
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| 21 | 21 | | increases the maximum credit amount to $870. |
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| 22 | 22 | | For further information see the state fiscal estimate, which will be printed as |
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| 23 | 23 | | an appendix to this bill. |
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| 24 | 24 | | The people of the state of Wisconsin, represented in senate and assembly, do |
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| 25 | 25 | | enact as follows: |
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| 26 | 26 | | SECTION 1. 71.07 (6) (am) 2. d. of the statutes is amended to read: |
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| 27 | 27 | | 71.07 (6) (am) 2. d. For taxable years beginning after December 31, 2000, and |
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| 28 | 28 | | before January 1, 2024, 3 percent of the earned income of the spouse with the lower |
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| 29 | 29 | | earned income, but not more than $480. |
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| 30 | 30 | | SECTION 2. 71.07 (6) (am) 2. e. of the statutes is created to read: |
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| 37 | 37 | | 7 - 2 -2023 - 2024 Legislature LRB-5677/1 |
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| 38 | 38 | | JK:cjs |
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| 39 | 39 | | SECTION 2 SENATE BILL 979 |
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| 40 | 40 | | 71.07 (6) (am) 2. e. For taxable years beginning after December 31, 2023, 3 |
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| 41 | 41 | | percent of the earned income of the spouse with the lower earned income, but not |
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| 42 | 42 | | more than $870. |
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| 43 | 43 | | (END) |
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