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SB70-SSA2-SA1,590,1712 71.05 (6) (b) 49. a. Subject to the definitions provided in subd. 49. b. to g. and
13the limitations specified in subd. 49. h. to j. for taxable years beginning after
14December 31, 2013, and subject to the limitation in subd. 49. k. for taxable years
15beginning after December 31, 2017, and subject to the limitation in subd. 49. m. for
16taxable years beginning after December 31, 2022,
tuition expenses that are paid by
17a claimant for tuition for a pupil to attend an eligible institution.
SB70-SSA2-SA1,1243 18Section 1243. 71.05 (6) (b) 49. m. of the statutes is created to read:
SB70-SSA2-SA1,590,2319 71.05 (6) (b) 49. m. For taxable years beginning after December 31, 2022, no
20modification may be made under this subdivision unless the adjusted gross income
21of the claimant is less than $100,000 if the claimant is filing as single or head of
22household, $150,000 if the claimant is married and filing jointly, or $75,000 if the
23claimant is married and filing separately.”.
SB70-SSA2-SA1,590,24 24205. Page 374, line 11: after that line insert:
SB70-SSA2-SA1,591,1
1 Section 1244. 71.05 (6) (a) 30. of the statutes is created to read:
SB70-SSA2-SA1,591,32 71.05 (6) (a) 30. For an account holder, as defined in s. 71.10 (10) (a) 1., or an
3account holder's estate:
SB70-SSA2-SA1,591,44 a. Any amount distributed under s. 71.10 (10) (d) 2. or 3.
SB70-SSA2-SA1,591,95 b. Any amount withdrawn from the account created under s. 71.10 (10) (b) 1.
6for any reason other than payment or reimbursement of eligible costs, as defined in
7s. 71.10 (10) (a) 4., except that this subd. 30. b. does not apply to the transfer of funds
8to another account as described in s. 71.10 (10) (c) 4. or to the disbursement of funds
9pursuant to a filing for bankruptcy protection under 11 USC 101 et seq.
SB70-SSA2-SA1,1245 10Section 1245. 71.05 (6) (b) 57. of the statutes is created to read:
SB70-SSA2-SA1,591,1811 71.05 (6) (b) 57. For each account an account holder, as defined in s. 71.10 (10)
12(a) 1., creates under s. 71.10 (10) (b) 1., and subject to s. 71.10 (10) (d), the amount
13deposited, limited to $5,000, by the account holder into the account during the
14taxable year and any interest, dividends, and other gains that accrue in the account
15and are redeposited into it. If the account holder is married and files a joint return,
16the $5,000 limitation shall be increased to $10,000. The subtraction under this
17subdivision does not apply to the transfer of funds from another account as described
18in s. 71.10 (10) (c) 4.
SB70-SSA2-SA1,1246 19Section 1246. 71.10 (4) (k) of the statutes is created to read:
SB70-SSA2-SA1,591,2020 71.10 (4) (k) Any amount computed under s. 71.83 (1) (ch).
SB70-SSA2-SA1,1247 21Section 1247. 71.10 (10) of the statutes is created to read:
SB70-SSA2-SA1,591,2322 71.10 (10) First-time home buyer savings accounts. (a) Definitions. In this
23subsection:
SB70-SSA2-SA1,591,2524 1. “Account holder” means an individual who creates, individually or jointly
25with his or her spouse, an account under par. (b) 1.
SB70-SSA2-SA1,592,2
12. “Allowable closing costs” means disbursements listed in a settlement
2statement for the purchase of a single-family residence by a beneficiary.
SB70-SSA2-SA1,592,43 3. “Beneficiary" means a first-time home buyer who is designated by an
4account holder as the beneficiary of an account created under par. (b) 1.
SB70-SSA2-SA1,592,65 4. “Eligible costs” means the down payment and allowable closing costs for the
6purchase of a single-family residence in this state by a beneficiary.
SB70-SSA2-SA1,592,117 5. “Financial institution" means a bank, trust company, savings institution,
8savings bank, savings and loan association, industrial loan association, consumer
9finance company, credit union, benefit association, insurance company, safe deposit
10company, money market mutual fund, or similar entity authorized to do business in
11this state.
SB70-SSA2-SA1,592,1512 6. “First-time home buyer” means an individual who resides in this state and
13did not have, either individually or jointly, a present ownership interest in a
14single-family residence during the 36 months before the month in which the
15individual purchases a single-family residence in this state.
SB70-SSA2-SA1,592,1816 7. “Single-family residence” means a residence intended for occupation by a
17single family unit that is purchased by a beneficiary for use as his or her principal
18residence.
SB70-SSA2-SA1,593,219 (b) Creation of account. 1. An individual may create an account and become
20the account holder by opening an account at a financial institution for the purpose
21of paying or reimbursing the eligible costs of a first-time home buyer. The account
22holder shall designate a beneficiary when the account is created and may designate
23himself or herself as the beneficiary. An account may have only one beneficiary at
24any one time. An individual may be the beneficiary of more than one account, and
25an individual may be the account holder of more than one account, but an account

1holder may not have more than one account that designates the same beneficiary.
2The account holder may change the beneficiary at any time.
SB70-SSA2-SA1,593,43 2. An individual may jointly own an account created under subd. 1 with his or
4her spouse.
SB70-SSA2-SA1,593,65 3. Only cash and marketable securities may be contributed to an account
6created under subd. 1.
SB70-SSA2-SA1,593,97 4. Persons other than an account holder may contribute to an account created
8under subd. 1, but the subtraction under s. 71.05 (6) (b) 57. may be made only by the
9account holder.
SB70-SSA2-SA1,593,1310 (c) Account holder rights and responsibilities. 1. An account holder may
11withdraw funds from an account created under par. (b) 1. to pay eligible costs for the
12benefit of the beneficiary or to reimburse the beneficiary for eligible costs the
13beneficiary incurs and has paid.
SB70-SSA2-SA1,593,1614 2. An account holder may not use funds in an account created under par. (b) 1.
15to pay any expenses he or she incurs in administering the account, although a
16financial institution may deduct a service fee from the account.
SB70-SSA2-SA1,593,2017 3. Annually, an account holder shall submit to the department with his or her
18income tax return, on forms prepared by the department, information regarding the
19account created under par. (b) 1. The information submitted shall include all of the
20following:
SB70-SSA2-SA1,593,2221 a. A list of transactions in the account during the taxable year to which the
22return relates, including the beginning and ending balances of the account.
SB70-SSA2-SA1,593,2323 b. The 1099 form issued by the financial institution that relates to the account.
SB70-SSA2-SA1,593,2524 c. A list of eligible costs, and other costs, for which funds from the account were
25withdrawn during the taxable year to which the return relates.
SB70-SSA2-SA1,594,5
14. An account holder may withdraw funds from an account created under par.
2(b) 1. with no penalty due under s. 71.83 (1) (ch) and no responsibility to make an
3addition under s. 71.05 (6) (a) 30. if he or she immediately transfers the funds to a
4different financial institution and deposits the funds into an account created under
5par. (b) 1. at that financial institution.
SB70-SSA2-SA1,594,86 (d) Limitations on accounts, dissolution. 1. An account holder may not claim
7a subtraction under s. 71.05 (6) (b) 57. for more than a total of $50,000 of deposits into
8any account created under par. (b) 1. for each beneficiary.
SB70-SSA2-SA1,594,119 2. An account holder shall dissolve an account created under par. (b) 1. no later
10than 120 months after it is created. The financial institution shall distribute any
11funds in the account at dissolution to the account holder.
SB70-SSA2-SA1,594,1412 3. If an account holder dies while funds remain in an account created under par.
13(b) 1., the account shall be dissolved and the financial institution shall distribute the
14funds to the account holder's estate.
SB70-SSA2-SA1,594,1515 (e) Department responsibilities. The department shall:
SB70-SSA2-SA1,594,1816 1. Prepare and distribute any forms that an account holder is required to
17submit under par. (c) 3. and any other forms necessary to administer this subsection
18and the adjustments to income under s. 71.05 (6) (a) 30. and (b) 57.
SB70-SSA2-SA1,594,2019 2. Prepare and distribute to financial institutions and potential home buyers
20informational materials about the accounts described in this subsection.
SB70-SSA2-SA1,1248 21Section 1248. 71.83 (1) (ch) of the statutes is created to read:
SB70-SSA2-SA1,595,322 71.83 (1) (ch) First-time home buyer savings account withdrawals. If an
23account holder, as defined under s. 71.10 (10) (a) 1., or an account holder's estate is
24required to add any amount to federal adjusted gross income under s. 71.05 (6) (a)
2530., the account holder or the account holder's estate shall also pay an amount equal

1to 10 percent of the amount that is added to income under s. 71.05 (6) (a) 30. The
2department of revenue shall assess, levy, and collect the penalty under this
3paragraph as it assesses, levies, and collects taxes under this chapter.
SB70-SSA2-SA1,9337 4Section 9337. Initial applicability; Revenue.
SB70-SSA2-SA1,595,75 (6s) First-time home buyer savings account. The treatment of ss. 71.05 (6) (a)
630. and (b) 57., 71.10 (4) (k) and (10), and 71.83 (1) (ch) first applies to taxable years
7beginning on January 1, 2023.”.
SB70-SSA2-SA1,595,8 8206. Page 374, line 11: after that line insert:
SB70-SSA2-SA1,595,9 9 Section 1. 71.98 (1) (c) of the statutes is created to read:
SB70-SSA2-SA1,595,1110 71.98 (1) (c) Consolidated Appropriations Act of 2023. For taxable years
11beginning after December 31, 2022, division T of P.L. 117-328.”.
SB70-SSA2-SA1,595,12 12207. Page 374, line 11: after that line insert:
SB70-SSA2-SA1,595,13 13 Section 1249. 71.07 (8b) (a) 5. of the statutes is amended to read:
SB70-SSA2-SA1,595,1814 71.07 (8b) (a) 5. “Credit period” means the period of 6 10 taxable years
15beginning with the taxable year in which a qualified development is placed in
16service. For purposes of this subdivision, if a qualified development consists of more
17than one building, the qualified development is placed in service in the taxable year
18in which the last building of the qualified development is placed in service.
SB70-SSA2-SA1,1250 19Section 1250. 71.07 (8b) (a) 7. of the statutes is amended to read:
SB70-SSA2-SA1,596,520 71.07 (8b) (a) 7. “Qualified development” means a qualified low-income
21housing project under section 42 (g) of the Internal Revenue Code that is financed
22with tax-exempt bonds, pursuant to section 42 (i) (2) described in section 42 (h) (4)
23(A)
of the Internal Revenue Code, allocated the credit under section 42 of the Internal
24Revenue Code,
and located in this state; except that the authority may waive, in the

1qualified allocation plan under section 42 (m) (1) (B) of the Internal Revenue Code,
2the requirements of tax-exempt bond financing and federal credit allocation to the
3extent the authority anticipates that sufficient volume cap under section 146 of the
4Internal Revenue Code will not be available to finance low-income housing projects
5in any year
.
SB70-SSA2-SA1,1251 6Section 1251. 71.28 (8b) (a) 5. of the statutes is amended to read:
SB70-SSA2-SA1,596,117 71.28 (8b) (a) 5. “Credit period” means the period of 6 10 taxable years
8beginning with the taxable year in which a qualified development is placed in
9service. For purposes of this subdivision, if a qualified development consists of more
10than one building, the qualified development is placed in service in the taxable year
11in which the last building of the qualified development is placed in service.
SB70-SSA2-SA1,1252 12Section 1252. 71.28 (8b) (a) 7. of the statutes is amended to read:
SB70-SSA2-SA1,596,2213 71.28 (8b) (a) 7. “Qualified development” means a qualified low-income
14housing project under section 42 (g) of the Internal Revenue Code that is financed
15with tax-exempt bonds, pursuant to section 42 (i) (2) described in section 42 (h) (4)
16(A)
of the Internal Revenue Code, allocated the credit under section 42 of the Internal
17Revenue Code,
and located in this state; except that the authority may waive, in the
18qualified allocation plan under section 42 (m) (1) (B) of the Internal Revenue Code,
19the requirements of tax-exempt bond financing and federal credit allocation to the
20extent the authority anticipates that sufficient volume cap under section 146 of the
21Internal Revenue Code will not be available to finance low-income housing projects
22in any year
.
SB70-SSA2-SA1,1253 23Section 1253. 71.47 (8b) (a) 5. of the statutes is amended to read:
SB70-SSA2-SA1,597,324 71.47 (8b) (a) 5. “Credit period” means the period of 6 10 taxable years
25beginning with the taxable year in which a qualified development is placed in

1service. For purposes of this subdivision, if a qualified development consists of more
2than one building, the qualified development is placed in service in the taxable year
3in which the last building of the qualified development is placed in service.
SB70-SSA2-SA1,1254 4Section 1254. 71.47 (8b) (a) 7. of the statutes is amended to read:
SB70-SSA2-SA1,597,145 71.47 (8b) (a) 7. “Qualified development” means a qualified low-income
6housing project under section 42 (g) of the Internal Revenue Code that is financed
7with tax-exempt bonds, pursuant to section 42 (i) (2) described in section 42 (h) (4)
8(A)
of the Internal Revenue Code, allocated the credit under section 42 of the Internal
9Revenue Code,
and located in this state; except that the authority may waive, in the
10qualified allocation plan under section 42 (m) (1) (B) of the Internal Revenue Code,
11the requirements of tax-exempt bond financing and federal credit allocation to the
12extent the authority anticipates that sufficient volume cap under section 146 of the
13Internal Revenue Code will not be available to finance low-income housing projects
14in any year
.
SB70-SSA2-SA1,1255 15Section 1255. 76.639 (1) (e) of the statutes is amended to read:
SB70-SSA2-SA1,597,2016 76.639 (1) (e) “Credit period” means the period of 6 10 taxable years beginning
17with the taxable year in which a qualified development is placed in service. For
18purposes of this paragraph, if a qualified development consists of more than one
19building, the qualified development is placed in service in the taxable year in which
20the last building of the qualified development is placed in service.
SB70-SSA2-SA1,1256 21Section 1256. 76.639 (1) (g) of the statutes is amended to read:
SB70-SSA2-SA1,598,622 76.639 (1) (g) “Qualified development” means a qualified low-income housing
23project under section 42 (g) of the Internal Revenue Code that is financed with
24tax-exempt bonds, pursuant to section 42 (i) (2) described in section 42 (h) (4) (A) of
25the Internal Revenue Code, allocated the credit under section 42 of the Internal

1Revenue Code,
and located in this state; except that the authority may waive, in the
2qualified allocation plan under section 42 (m) (1) (B) of the Internal Revenue Code,
3the requirements of tax-exempt bond financing and federal credit allocation to the
4extent the authority anticipates that sufficient volume cap under section 146 of the
5Internal Revenue Code will not be available to finance low-income housing projects
6in any year
.
SB70-SSA2-SA1,1257 7Section 1257. 234.45 (1) (c) of the statutes is amended to read:
SB70-SSA2-SA1,598,128 234.45 (1) (c) “Credit period” means the period of 6 10 taxable years beginning
9with the taxable year in which a qualified development is placed in service. For
10purposes of this paragraph, if a qualified development consists of more than one
11building, the qualified development is placed in service in the taxable year in which
12the last building of the qualified development is placed in service.
SB70-SSA2-SA1,1258 13Section 1258. 234.45 (1) (e) of the statutes is amended to read:
SB70-SSA2-SA1,598,2314 234.45 (1) (e) “Qualified development” means a qualified low-income housing
15project under section 42 (g) of the Internal Revenue Code that is financed with
16tax-exempt bonds, pursuant to section 42 (i) (2) described in section 42 (h) (4) (A) of
17the Internal Revenue Code, allocated the credit under section 42 of the Internal
18Revenue Code,
and located in this state; except that the authority may waive, in the
19qualified allocation plan under section 42 (m) (1) (B) of the Internal Revenue Code,
20the requirements of tax-exempt bond financing and federal credit allocation to the
21extent the authority anticipates that sufficient volume cap under section 146 of the
22Internal Revenue Code will not be available to finance low-income housing projects
23in any year
.
SB70-SSA2-SA1,1259 24Section 1259. 234.45 (4) of the statutes is amended to read:
SB70-SSA2-SA1,599,7
1234.45 (4) Allocation limits. In any calendar year, the aggregate amount of
2all state tax credits for which the authority certifies persons in allocation certificates
3issued under sub. (3) in that year may not exceed $42,000,000 $100,000,000,
4including all amounts each person is eligible to claim for each year of the credit
5period, plus the total amount of all unallocated state tax credits from previous
6calendar years and plus the total amount of all previously allocated state tax credits
7that have been revoked or cancelled or otherwise recovered by the authority.”.
SB70-SSA2-SA1,599,8 8208. Page 374, line 11: after that line insert:
SB70-SSA2-SA1,599,9 9 Section 1260. 77.51 (3h) of the statutes is created to read:
SB70-SSA2-SA1,599,1110 77.51 (3h) “Diaper” means an absorbent garment worn by humans who are
11incapable of, or have difficulty controlling their bladder or bowel movements.
SB70-SSA2-SA1,1261 12Section 1261. 77.51 (3pq) of the statutes is created to read:
SB70-SSA2-SA1,599,1613 77.51 (3pq) “Feminine hygiene products” means tampons, panty liners,
14menstrual cups, sanitary napkins, and other similar tangible personal property
15designed for feminine hygiene in connection with the human menstrual cycle.
16“Feminine hygiene products” do not include grooming and hygiene products.
SB70-SSA2-SA1,1262 17Section 1262. 77.51 (4f) of the statutes is created to read:
SB70-SSA2-SA1,599,2018 77.51 (4f) “Grooming and hygiene products” means soaps and cleaning
19solutions, shampoo, toothpaste, mouthwash, antiperspirants, and suntan lotions
20and screens.
SB70-SSA2-SA1,1263 21Section 1263. 77.52 (13) of the statutes is amended to read:
SB70-SSA2-SA1,600,922 77.52 (13) For the purpose of the proper administration of this section and to
23prevent evasion of the sales tax it shall be presumed that all receipts are subject to
24the tax until the contrary is established. The burden of proving that a sale of tangible

1personal property, or items, property, or goods under sub. (1) (b), (c), or (d), or services
2is not a taxable sale at retail is upon the person who makes the sale unless that
3person takes from the purchaser an electronic or a paper certificate, in a manner
4prescribed by the department, to the effect that the property, item, good, or service
5is purchased for resale or is otherwise exempt, except that no certificate is required
6for the sale of tangible personal property, or items, property, or goods under sub. (1)
7(b), (c), or (d), or services that are exempt under s. 77.54 (5) (a) 3., (7), (7m), (8), (10),
8(11), (14), (15), (17), (20n), (21), (22b), (31), (32), (35), (36), (37), (42), (44), (45), (46),
9(51), (52), (66), and (67), (71), (72), and (73).
SB70-SSA2-SA1,1264 10Section 1264. 77.53 (10) of the statutes is amended to read:
SB70-SSA2-SA1,600,2411 77.53 (10) For the purpose of the proper administration of this section and to
12prevent evasion of the use tax and the duty to collect the use tax, it is presumed that
13tangible personal property, or items, property, or goods under s. 77.52 (1) (b), (c), or
14(d), or taxable services sold by any person for delivery in this state is sold for storage,
15use, or other consumption in this state until the contrary is established. The burden
16of proving the contrary is upon the person who makes the sale unless that person
17takes from the purchaser an electronic or paper certificate, in a manner prescribed
18by the department, to the effect that the property, or items, property, or goods under
19s. 77.52 (1) (b), (c), or (d), or taxable service is purchased for resale, or otherwise
20exempt from the tax, except that no certificate is required for the sale of tangible
21personal property, or items, property, or goods under s. 77.52 (1) (b), (c), or (d), or
22services that are exempt under s. 77.54 (7), (7m), (8), (10), (11), (14), (15), (17), (20n),
23(21), (22b), (31), (32), (35), (36), (37), (42), (44), (45), (46), (51), (52), and (67), (71), (72)
24and (73)
.
SB70-SSA2-SA1,1265 25Section 1265. 77.54 (71) of the statutes is created to read:
SB70-SSA2-SA1,601,2
177.54 (71) The sales price from the sale of and the storage, use, or other
2consumption of diapers and feminine hygiene products.
SB70-SSA2-SA1,1266 3Section 1266. 77.54 (72) of the statutes is created to read:
SB70-SSA2-SA1,601,64 77.54 (72) The sales price from the sale of and the storage, use, or other
5consumption of breast pumps, breast pump kits, and breast pump storage and
6collection supplies.
SB70-SSA2-SA1,1267 7Section 1267. 77.54 (73) of the statutes is created to read:
SB70-SSA2-SA1,601,108 77.54 (73) (a) The sales price from the sale of and the storage, use, or other
9consumption of gun safes that are specifically designed for the storage of guns, but
10not other items used for gun storage, such as locking gun cabinets and racks.
SB70-SSA2-SA1,601,1211 (b) The sales price from the sale of and the storage, use, or other consumption
12of trigger locks and gun barrel locks.”.
SB70-SSA2-SA1,601,13 13209. Page 374, line 11: after that line insert:
SB70-SSA2-SA1,601,14 14 Section 1. 71.98 (10) of the statutes is created to read:
SB70-SSA2-SA1,601,1615 71.98 (10) 529 accounts. For taxable years beginning after December 31, 2022,
16section 529 of the Internal Revenue Code, relating to qualified tuition programs.”.
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