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LRB-3003/1
MES:cjs
2019 - 2020 LEGISLATURE
June 13, 2019 - Introduced by Representatives Riemer, B. Meyers, Zamarripa, L.
Myers
, C. Taylor, Goyke, Kolste, Hebl, Shankland, Vining, Doyle,
Anderson, Billings, Pope, Hesselbein, Spreitzer, Ohnstad, Emerson and
Considine, cosponsored by Senators Ringhand, Carpenter, Smith and
Larson. Referred to Committee on Ways and Means.
AB295,1,2 1An Act to amend 71.54 (1) (g) (intro.); and to create 71.54 (1) (h) of the statutes;
2relating to: increasing the homestead tax credit maximum income.
Analysis by the Legislative Reference Bureau
Under current law, the homestead income tax credit is not allowed to claimants
whose household income exceeds $24,680. Under this bill, that threshold is increased
to $30,000 for claims filed in 2020 and thereafter.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB295,1 3Section 1 . 71.54 (1) (g) (intro.) of the statutes is amended to read:
AB295,1,64 71.54 (1) (g) 2012 and thereafter to 2019. (intro.) The amount of any claim filed
5in 2012 and thereafter to 2019 and based on property taxes accrued or rent
6constituting property taxes accrued during the previous year is limited as follows:
AB295,2 7Section 2 . 71.54 (1) (h) of the statutes is created to read:
AB295,2,3
171.54 (1) (h) 2020 and thereafter. The amount of any claim filed in 2020 and
2thereafter and based on property taxes accrued or rent constituting property taxes
3accrued during the previous year is limited as follows:
AB295,2,64 1. If the household income was $8,060 or less in the year to which the claim
5relates, the claim is limited to 80 percent of the property taxes accrued or rent
6constituting property taxes accrued or both in that year on the claimant's homestead.
AB295,2,117 2. If the household income was more than $8,060 in the year to which the claim
8relates, the claim is limited to 80 percent of the amount by which the property taxes
9accrued or rent constituting property taxes accrued or both in that year on the
10claimant's homestead exceeds 6.655 percent of the household income exceeding
11$8,060.
AB295,2,1312 3. No credit may be allowed if the household income of a claimant exceeds
13$30,000.
AB295,2,1514 4. Notwithstanding the time limitations described in par. (g) (intro.), the
15provisions of par. (g) 4., 5., 6., and 7. apply to claims filed under this paragraph.
AB295,2,1616 (End)
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