Bill
Bill > SB261
WI SB261
Certain limitations on claiming the veterans and surviving spouses property tax credit. (FE)
summary
Introduced
05/20/2025
05/20/2025
In Committee
05/20/2025
05/20/2025
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. LRB-2781/1 KP:cdc 2025 - 2026 Legislature SENATE BILL 261
AI Summary
This bill modifies Wisconsin state tax law to allow taxpayers 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. Under existing law, a person could not simultaneously claim credits related to farmland preservation and veterans' property taxes. The bill specifically amends section 71.07(6e)(c) 2 of Wisconsin statutes to remove language that prevents such dual credit claims. By deleting references to certain subsections, the legislation effectively creates an exception that permits veterans, surviving spouses, and landowners to receive both tax credits in the same tax year. The bill will first apply to taxable years beginning on January 1, 2025, meaning taxpayers can take advantage of this new provision starting with their 2025 tax returns. This change could provide additional financial relief for veterans, surviving spouses, and farmers by allowing them to maximize their available tax credits.
Committee Categories
Budget and Finance
Sponsors (23)
Kristin Dassler-Alfheim (D)*,
Dianne Hesselbein (D)*,
Sarah Keyeski (D)*,
Chris Larson (D)*,
Jeff Smith (D)*,
Mark Spreitzer (D)*,
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),
Last Action
Representative Sinicki added as a cosponsor (on 06/20/2025)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://docs.legis.wisconsin.gov/2025/proposals/reg/sen/bill/sb261 |
| Fiscal Note - SB261: Fiscal Estimate From DOR | https://docs.legis.wisconsin.gov/2025/related/fe/sb261/sb261_dor.pdf |
| BillText | https://docs.legis.wisconsin.gov/document/proposaltext/2025/REG/SB261.pdf |
Loading...