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Bill > AB676
WI AB676
WI AB676Creating a tax credit for insurers for certain investments in community development entities. (FE)
summary
Introduced
11/19/2025
11/19/2025
In Committee
02/20/2026
02/20/2026
Crossed Over
02/17/2026
02/17/2026
Passed
04/03/2026
04/03/2026
Dead
Signed/Enacted/Adopted
04/03/2026
04/03/2026
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT to amend 71.45 (2) (a) 10. and 76.67 (2); to create 71.47 (11), 71.49 (1) (bt) and 76.633 of the statutes; relating to: creating a tax credit for insurers for certain investments in community development entities.
AI Summary
This bill creates a new tax credit for insurers who invest in "community development entities," which are organizations that invest in businesses located in low-income communities. The credit is calculated based on a percentage of the investment amount over several years, starting with 0% for the first two years and then 10% for the next five years. To qualify for the credit, the investment must be in a "qualified equity investment," meaning it's an equity investment in a "qualified community development entity" that uses at least 100% of the purchase price to make "qualified low-income community investments" in businesses operating within Wisconsin. These businesses must meet specific criteria, including not deriving a significant portion of their income from real estate rentals or sales, and their "principal business operations" (where employees work or payroll is generated) must be in Wisconsin. The bill also establishes an overall limit on the total amount of these credits that can be issued annually, with separate allocations for investments in rural and metro counties, and includes provisions for recapturing the credit if certain conditions are not met, such as the community development entity failing to invest the funds appropriately or redeeming the investment prematurely. Additionally, the bill amends existing statutes to incorporate this new credit into the calculation of taxes and fees owed by insurers.
Committee Categories
Budget and Finance
Sponsors (7)
David Armstrong (R)*,
Elijah Behnke (R)*,
Rob Kreibich (R)*,
Dave Murphy (R)*,
Shannon Zimmerman (R)*,
Jesse James (R),
Howard Marklein (R),
Last Action
Published 4-4-2026 (on 04/03/2026)
Official Document
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