BillTrack50 logo
Free Signup Login
Bill

Bill > AB525

WI AB525

WI AB525
Repeal of obsolete tax credits and tax provisions. (FE)

summary

Introduced
10/15/2025
In Committee
11/20/2025
Crossed Over
Passed
Dead

Introduced Session

Potential new amendment
2025-2026 Regular Session

Bill Summary

This bill repeals various tax credits that taxpayers may no longer earn because of sunset provisions related to each of those credits, repeals various obsolete tax provisions, and updates other tax provisions to reflect those changes. Current law allows taxpayers to carry forward certain unused nonrefundable tax credits to future years. Under the bill, the repeal of any nonrefundable tax credits is delayed until the date that those credits may no longer be used. The bill repeals, among others, the following tax credits and other obsolete tax provisions: 1. The armed forces member credit. 2. The biodiesel fuel production credit. 3. The community development finance credit. 4. The dairy and livestock farm investment credit. 5. The development, development opportunity, development zone additional research, and enterprise development zones credits. 6. The electronic medical records credit. 7. The economic development tax credit. 8. The ethanol and biodiesel fuel pump credit. 9. The health insurance risk-sharing plan assessments credit. 10. The internet equipment credit. 11. The jobs tax credit and the corresponding appropriation. 12. The manufacturing investment credit. 13. The manufacturing sales tax credit. 14. The postsecondary education credit. 15. The research facilities credit. 16. The super research and development credit. 17. The technology zones credit. 18. The water consumption credit. 19. The veteran employment credit. 20. The credit for investment in certified capital companies. 21. Provisions related to computation of apportionment of business income for tax years prior to 2008. 22. Obsolete Internal Revenue Code definitions. 23. Income tax rates and brackets for tax years prior to 2025. 24. Income tax return donation checkoffs that are discontinued. 25. The alternative minimum tax. For further information see the state fiscal estimate, which will be printed as an appendix to this bill.

AI Summary

This bill is a comprehensive legislative effort to repeal numerous obsolete tax credits and tax provisions across multiple sections of Wisconsin's statutes. The bill systematically removes various tax credits, deductions, and provisions related to income tax, corporate taxation, and economic development incentives, primarily affecting sections 71, 73, 76, 77, 229, 238, and 255 of the Wisconsin Statutes. Many of these repeals are staggered, with different provisions taking effect in different years between 2026 and 2043. The bill eliminates tax credits for various business activities such as research and development, job creation, enterprise zones, film production, and other economic development initiatives. By removing these outdated or potentially underutilized tax provisions, the bill aims to simplify the state's tax code, potentially reduce administrative complexity, and potentially generate additional revenue by eliminating specialized tax credits. The bill's approach suggests a legislative effort to streamline tax regulations and remove provisions that may no longer serve their original intended purpose, with a methodical approach to implementation that allows for gradual adaptation to the changes.

Committee Categories

Budget and Finance

Sponsors (17)

Last Action

Laid on the table (on 01/13/2026)
(1 Companion Bills)

bill text

bill summary

Loading...

bill summary

Loading...
Loading...