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WI AB264
Certain limitations on claiming the veterans and surviving spouses property tax credit. (FE)
summary
Introduced
05/19/2025
05/19/2025
In Committee
05/19/2025
05/19/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
Under current law, a person who claims the farmland preservation tax credit is prohibited from claiming the veterans and surviving spouses property tax credit in the same tax year. This bill allows a person to claim both the farmland preservation tax credit and the veterans and surviving spouses property tax credit in the same tax year. Current law allows a person to claim a farmland preservation income tax credit for the person[s land engaged in an agricultural use, if the land is covered by a farmland preservation agreement, located in a farmland preservation zoning district, or covered by an agricultural conservation easement. Also, under current law, an eligible veteran or surviving spouse may claim a refundable income tax credit that equals the amount of property taxes paid during the year on the claimant[s principal dwelling in Wisconsin. For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
AI Summary
This bill modifies Wisconsin state tax law to allow individuals to claim both the farmland preservation tax credit and the veterans and surviving spouses property tax credit in the same tax year, which is currently prohibited. Specifically, the bill removes language that previously prevented taxpayers from claiming these two tax credits simultaneously. Under current law, farmers could claim a tax credit for lands engaged in agricultural use (through farmland preservation agreements or zoning), and eligible veterans or surviving spouses could claim a refundable property tax credit for taxes paid on their principal Wisconsin dwelling. The bill eliminates the restriction that barred claiming both credits in the same tax year, effectively providing more financial flexibility for veterans, surviving spouses, and farmers. The changes will first apply to taxable years beginning on January 1, 2025, giving taxpayers a new option for potential tax relief starting in that year.
Committee Categories
Budget and Finance
Sponsors (23)
Margaret Arney (D)*,
Mike Bare (D)*,
Elijah Behnke (R)*,
Jill Billings (D)*,
Brienne Brown (D)*,
Ben DeSmidt (D)*,
Joan Fitzgerald (D)*,
Alex Joers (D)*,
Tara Johnson (D)*,
Darrin Madison (D)*,
Dave Maxey (R)*,
Maureen McCarville (D)*,
Vincent Miresse (D)*,
Sylvia Ortiz-Velez (D)*,
Christian Phelps (D)*,
Ann Roe (D)*,
Lee Snodgrass (D)*,
Kristin Dassler-Alfheim (D),
Dianne Hesselbein (D),
Sarah Keyeski (D),
Chris Larson (D),
Jeff Smith (D),
Mark Spreitzer (D),
Last Action
Representative Sinicki added as a coauthor (on 06/19/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://docs.legis.wisconsin.gov/2025/proposals/reg/asm/bill/ab264 |
| Fiscal Note - AB264: Fiscal Estimate From DOR | https://docs.legis.wisconsin.gov/2025/related/fe/ab264/ab264_dor.pdf |
| BillText | https://docs.legis.wisconsin.gov/document/proposaltext/2025/REG/AB264.pdf |
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