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AB56-SA5,5,65 1. “Claimant" means an individual who is eligible to claim the credit under this
6subsection.
AB56-SA5,5,87 2. “Household" means a claimant and an individual related to the claimant as
8husband or wife.
AB56-SA5,5,109 3. “Net tax liability" means a claimant's income tax liability after he or she
10completes the computations for nonrefundable credits listed in s. 71.10 (4) (a) to (gy).
AB56-SA5,5,1411 (b) Filing claims. For taxable years beginning after December 31, 2018, and
12subject to the limitations provided in this subsection, a claimant may claim as a
13credit against the tax imposed under s. 71.02, up to the amount of those taxes, one
14of the following amounts:
AB56-SA5,5,1715 1. If the claimant is single or files as a head of household and his or her adjusted
16gross income is less than $80,000 in the year to which the claim relates, the greater
17of $100 or an amount equal to 10 percent of his or her net tax liability.
AB56-SA5,5,2018 2. If the claimant is single or files as a head of household and his or her adjusted
19gross income is at least $80,000 but less than $100,000 in the year to which the claim
20relates, an amount that is calculated as follows:
AB56-SA5,5,2321 a. Calculate the value of a fraction, the denominator of which is $20,000 and
22the numerator of which is the difference between the claimant's adjusted gross
23income and $80,000.
AB56-SA5,5,2424 b. Subtract from 1.0 the amount that is calculated under subd. 2. a.
AB56-SA5,6,1
1c. Multiply the amount that is calculated under subd. 2. b. by 10 percent.
AB56-SA5,6,32 d. Multiply the amount of the claimant's net income tax liability by the amount
3that is calculated under subd. 2. c.
AB56-SA5,6,74 3. If the claimant is married and filing jointly and the sum of the claimant's
5adjusted gross income and his or her spouse's adjusted gross income is less than
6$125,000 in the year to which the claim relates, the greater of $50 or an amount equal
7to 10 percent of the married couple's net tax liability.
AB56-SA5,6,118 4. If the claimant is married and filing jointly and the sum of the claimant's
9adjusted gross income and his or her spouse's adjusted gross income is at least
10$125,000 but less than $150,000 in the year to which the claim relates, an amount
11that is calculated as follows:
AB56-SA5,6,1412 a. Calculate the value of a fraction, the denominator of which is $25,000 and
13the numerator of which is the difference between the married couple's adjusted gross
14income and $125,000.
AB56-SA5,6,1515 b. Subtract from 1.0 the amount that is calculated under subd. 4. a.
AB56-SA5,6,1616 c. Multiply the amount that is calculated under subd. 4. b. by 10 percent.
AB56-SA5,6,1817 d. Multiply the amount of the married couple's net income tax liability by the
18amount that is calculated under subd. 4. c.
AB56-SA5,6,2119 5. If the claimant is married and filing separately and his or her adjusted gross
20income is less than $62,500 in the year to which the claim relates, the greater of $25
21or an amount equal to 10 percent of his or her net tax liability.
AB56-SA5,6,2422 6. If the claimant is married and filing separately and his or her adjusted gross
23income is at least $62,500 but less than $75,000 in the year to which the claim relates,
24an amount that is calculated as follows:
AB56-SA5,7,3
1a. Calculate the value of a fraction, the denominator of which is $12,500 and
2the numerator of which is the difference between the claimant's adjusted gross
3income and $75,000.
AB56-SA5,7,44 b. Subtract from 1.0 the amount that is calculated under subd. 6. a.
AB56-SA5,7,55 c. Multiply the amount that is calculated under subd. 6. b. by 10 percent.
AB56-SA5,7,76 d. Multiply the amount of the claimant's net income tax liability by the amount
7that is calculated under subd. 6. c.
AB56-SA5,7,98 (c) Limitations. 1. No credit may be allowed under this subsection unless it
9is claimed within the period under s. 71.75 (2).
AB56-SA5,7,1110 2. Part-year residents and nonresidents of this state are not eligible for the
11credit under this subsection.
AB56-SA5,7,1312 3. Except as provided in subd. 4., only one credit per household is allowed each
13year.
AB56-SA5,7,1714 4. If a married couple files separately, each spouse may claim the credit
15calculated under par. (b) 5. or 6., except a married person living apart from the other
16spouse and treated as single under section 7703 (b) of the Internal Revenue Code may
17claim the credit under par. (b) 1. or 2.
AB56-SA5,7,1918 5. The credit under this subsection may not be claimed by a person who may
19be claimed as a dependent on the individual income tax return of another taxpayer.
AB56-SA5,7,2420 (d) Administration. The department of revenue may enforce the credit under
21this subsection and may take any action, conduct any proceeding, and proceed as it
22is authorized in respect to taxes under this chapter. The income tax provisions in this
23chapter relating to assessments, refunds, appeals, collection, interest, and penalties
24apply to the credit under this subsection.
AB56-SA5,884m 25Section 884m. 71.07 (8m) of the statutes is created to read:
AB56-SA5,8,2
171.07 (8m) Additional household and dependent care expenses tax credit.
2(a) Definitions. In this subsection:
AB56-SA5,8,53 1. “Claimant" means an individual who is eligible for and claims the household
4and dependent care expenses tax credit for the taxable year to which the claim under
5this subsection relates.
AB56-SA5,8,76 2. “Household and dependent care expenses tax credit" means the tax credit
7under section 21 of the Internal Revenue Code.
AB56-SA5,8,138 (b) Filing claims. Subject to the limitations provided in this subsection, a
9claimant may claim as a credit against the tax imposed under s. 71.02, up to the
10amount of those taxes, an amount equal to 50 percent of the amount of the household
11and dependent care expenses tax credit that the claimant claimed on his or her
12federal income tax return for the taxable year to which the claim under this
13subsection relates.
AB56-SA5,8,1514 (c) Limitations. 1. No credit may be allowed under this subsection unless it
15is claimed within the time period under s. 71.75 (2).
AB56-SA5,8,1816 2. No credit may be allowed under this subsection for a taxable year covering
17a period of less than 12 months, except for a taxable year closed by reason of the death
18of the taxpayer.
AB56-SA5,8,2019 3. The credit under this subsection may not be claimed by either a part-year
20resident or a nonresident of this state.
AB56-SA5,8,2221 4. The credit under this subsection may be claimed for taxable years beginning
22after December 31, 2019.
AB56-SA5,8,2423 5. A claimant who claims the credit under this subsection is subject to the
24special rules in 26 USC 21 (e) (2) and (4).
AB56-SA5,9,2
1(d) Administration. Subsection (9e) (d), to the extent that it applies to the credit
2under that subsection, applies to the credit under this subsection.
AB56-SA5,886g 3Section 886g. 71.10 (4) (cs) of the statutes is created to read:
AB56-SA5,9,54 71.10 (4) (cs) Additional household and dependent care expenses tax credit
5under s. 71.07 (8m).
AB56-SA5,886m 6Section 886m. 71.10 (4) (gye) of the statutes is created to read:
AB56-SA5,9,87 71.10 (4) (gye) Family and individual reinvestment credit under s. 71.07
8(5me).”.
AB56-SA5,9,9 95. Page 506, line 8: after that line insert:
AB56-SA5,9,11 10“(1p) Real property tax assessments. The treatment of ss. 70.03 (1) and 70.32
11(1), (1b), and (1d) first applies to the property tax assessments as of January 1, 2020.”.
AB56-SA5,9,1212 (End)
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