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LRBa1364/1
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2023 - 2024 LEGISLATURE
SENATE AMENDMENT 1,
TO ASSEMBLY BILL 29
March 12, 2024 - Offered by Senators Carpenter, Wirch, Agard, Hesselbein, L.
Johnson
, Larson, Pfaff, Smith and Spreitzer.
AB29-SA1,1,11 At the locations indicated, amend the bill as follows:
AB29-SA1,1,3 21. Page 1, line 2: after “bullion" insert “and reducing the eligibility threshold
3to claim the veterans and surviving spouses property tax credit".
AB29-SA1,1,4 42. Page 1, line 3: before that line insert:
AB29-SA1,1,5 5 Section 1a. 71.07 (6e) (a) 2. b. of the statutes is amended to read:
AB29-SA1,1,136 71.07 (6e) (a) 2. b. An individual who had served on active duty under
7honorable conditions in the U.S. armed forces or in forces incorporated as part of the
8U.S. armed forces; who was a resident of this state at the time of entry into that active
9service or who had been a resident of this state for any consecutive 5-year period
10after entry into that active duty service; who was a resident of this state at the time
11of his or her death; and who had either a service-connected disability rating of 100
12at least 70 percent under 38 USC 1114 or 1134 or a 100 percent disability rating based
13on individual unemployability.
AB29-SA1,1b
1Section 1b. 71.07 (6e) (a) 3. d. of the statutes is amended to read:
AB29-SA1,2,42 71.07 (6e) (a) 3. d. Has either a service-connected disability rating of 100 at
3least 70
percent under 38 USC 1114 or 1134 or a 100 percent disability rating based
4on individual unemployability.
AB29-SA1,1c 5Section 1c. 71.07 (6e) (c) 4. of the statutes is created to read:
AB29-SA1,2,96 71.07 (6e) (c) 4. If a claimant's service-connected disability rating is less than
7100 percent, the amount that the claimant may claim under this subsection shall be
8multiplied by a percentage that equals the eligible veteran's service-connected
9disability rating.
AB29-SA1,1d 10Section 1d. 71.07 (6e) (c) 5. of the statutes is created to read:
AB29-SA1,2,1411 71.07 (6e) (c) 5. For an individual whose service-connected disability rating is
12less than 100 percent, the amount of the credit claimed under this subsection may
13not exceed the amount of the property taxes paid on the first $350,000 of the
14property's assessed value for the taxable year to which the claim relates.
AB29-SA1,1e 15Section 1e. 71.07 (6e) (c) 6. of the statutes is created to read:
AB29-SA1,2,1916 71.07 (6e) (c) 6. No credit may be claimed under this subsection by an
17individual who is first eligible to claim the credit for taxable years beginning after
18December 31, 2023, and whose taxable income for the taxable year to which the claim
19relates exceeds any of the following amounts:
AB29-SA1,2,2020 a. For single individuals and heads of households, $100,000.
AB29-SA1,2,2321 b. For married persons, $150,000. For purposes of this subd. 6. b. the sum of
22the taxable income of both persons may not exceed $150,000, regardless of whether
23the persons file a joint return or separate returns.”.
AB29-SA1,2,24 243. Page 2, line 5: after that line insert:
AB29-SA1,3,1
1 Section 2a. Initial applicability.
AB29-SA1,3,4 2(1) Veterans and surviving spouses property tax credit. The treatment of s.
371.07 (6e) (a) 2. b. and 3. d. and (c) 4., 5., and 6. first applies to taxable years beginning
4after December 31, 2023.”.
AB29-SA1,3,55 (End)
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