Bill > AB699

This bill establishes a long-term care insurance assessment and a corresponding tax credit for insurers. It creates a new account within the state's insurance security fund specifically for long-term care insurance and outlines how assessments will be calculated and levied against insurers based on their premiums. Insurers that pay these assessments will have the option to claim either an income and franchise tax credit or an insurer license fee credit, with the credit being 20% of the assessment paid, claimable for five years following the payment. The bill also makes conforming changes to various tax statutes to accommodate these new credits and clarifies that certain entities, like partnerships, limited liability companies, and tax-option corporations, cannot claim these credits directly but rather their owners or shareholders may benefit if the entity claims the credit.

Budget and Finance, Business and Industry

https://docs.legis.wisconsin.gov/2025/proposals/reg/asm/bill/ab699