Amendment AA21-ASA2-AB50

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ASSEMBLY AMENDMENT 21, TO ASSEMBLY SUBSTITUTE AMENDMENT 2, TO ASSEMBLY BILL 50

July 2, 2025 - Offered by Representatives Prado, Anderson, Andraca, Arney, Bare, Billings, Brown, Clancy, Cruz, DeSanto, DeSmidt, Doyle, Emerson, Fitzgerald, Goodwin, Haywood, Hong, Hysell, J. Jacobson, Joers, Johnson, Kirsch, Madison, Mayadev, McCarville, McGuire, Miresse, Moore Omokunde, Neubauer, Palmeri, Phelps, Rivera-Wagner, Roe, Sheehan, Sinicki, Snodgrass, Spaude, Stroud, Stubbs, Subeck, Taylor, Tenorio, Udell and Vining.

AB50-ASA2-AA21,1,1 At the locations indicated, amend the substitute amendment as follows:

AB50-ASA2-AA21,1,2 1. At the appropriate places, insert all of the following:

AB50-ASA2-AA21,1,3 “Section 1. 71.54 (1) (g) (intro.) of the statutes is amended to read:

AB50-ASA2-AA21,1,6 71.54 (1) (g) 2012 and thereafter to 2025. (intro.) The amount of any claim filed in 2012 and thereafter to 2025 and based on property taxes accrued or rent constituting property taxes accrued during the previous year is limited as follows:

AB50-ASA2-AA21,2 Section 2. 71.54 (1) (g) 4. of the statutes is amended to read:

AB50-ASA2-AA21,2,3 71.54 (1) (g) 4. Except as provided in subds. 5. and 7., for For claims filed in 2018 and thereafter and based on property taxes accrued or rent constituting property taxes accrued during the previous year, no credit may be allowed under this paragraph if the claimant has no earned income in the taxable year to which the claim relates unless the claimant is disabled and provides the proof required under subd. 6. or the claimant or the claimant’s spouse is over the age of 61 at the close of the year to which the claim relates.

AB50-ASA2-AA21,3 Section 3. 71.54 (1) (g) 5. of the statutes is repealed.

AB50-ASA2-AA21,4 Section 4. 71.54 (1) (g) 6. (intro.) of the statutes is amended to read:

AB50-ASA2-AA21,2,9 71.54 (1) (g) 6. (intro.) With regard to a claimant who is disabled, the A claimant who is disabled shall provide with his or her return proof that his or her disability is in effect for the taxable year to which the claim relates. Proof of disability may be demonstrated by any of the following:

AB50-ASA2-AA21,5 Section 5. 71.54 (1) (g) 7. of the statutes is repealed.

AB50-ASA2-AA21,6 Section 6. 71.54 (1) (h) of the statutes is created to read:

AB50-ASA2-AA21,2,14 71.54 (1) (h) 2026 and thereafter. Subject to sub. (2m), the amount of any claim filed in 2026 and thereafter and based on property taxes accrued or rent constituting property taxes accrued during the previous year is limited as follows:

AB50-ASA2-AA21,2,18 1. If the household income was $19,000 or less in the year to which the claim relates, the claim is limited to 80 percent of the property taxes accrued or rent constituting property taxes accrued or both in that year on the claimant’s homestead.

AB50-ASA2-AA21,2,23 2. If the household income was more than $19,000 in the year to which the claim relates, the claim is limited to 80 percent of the amount by which the property taxes accrued or rent constituting property taxes accrued or both in that year on the claimant’s homestead exceeds 7.891 percent of the household income exceeding $19,000.

AB50-ASA2-AA21,3,1 3. No credit may be allowed if the household income exceeds $37,500.

AB50-ASA2-AA21,3,3 4. Notwithstanding the time limitations described in par. (g) (intro.), the provisions of par. (g) 4. apply to claims filed under this paragraph.

AB50-ASA2-AA21,7 Section 7. 71.54 (2) (b) 4. of the statutes is amended to read:

AB50-ASA2-AA21,3,6 71.54 (2) (b) 4. In calendar years 2011 or any subsequent calendar year to 2024, $1,460.

AB50-ASA2-AA21,8 Section 8. 71.54 (2) (b) 5. of the statutes is created to read:

AB50-ASA2-AA21,3,9 71.54 (2) (b) 5. Subject to sub. (2m), in calendar year 2025 or any subsequent calendar year, $1,460.

AB50-ASA2-AA21,9 Section 9. 71.54 (2m) of the statutes is amended to read:

AB50-ASA2-AA21,4,5 71.54 (2m) Indexing for inflation; 2010 2026 and thereafter. (a) For calendar years beginning after December 31, 2009, and before January 1, 2011 2025, the dollar amounts of the threshold income under sub. (1) (f) (h) 1. and 2., the maximum household income under sub. (1) (f) (h) 3., and the maximum property taxes under sub. (2) (b) 3. 5. shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the 12-month average of the U.S. consumer price index for the month of August of the year before the previous year through the month of July of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the 12-month average of the U.S. consumer price index for August 2007 through July 2008 2024, as determined by the federal department of labor, except that the adjustment may occur only if the percentage is a positive number. Each amount that is revised under this paragraph shall be rounded to the nearest multiple of $10 if the revised amount is not a multiple of $10 or, if the revised amount is a multiple of $5, such an amount shall be increased to the next higher multiple of $10. The department of revenue shall annually adjust the changes in dollar amounts required under this paragraph and incorporate the changes into the income tax forms and instructions.

AB50-ASA2-AA21,4,11 (b) The department of revenue shall annually adjust the slope under sub. (1) (f) (h) 2. such so that, as a claimant’s income increases from the threshold income as calculated adjusted under par. (a), to an amount that exceeds the maximum household income as calculated adjusted under par. (a), the credit that may be claimed is reduced to $0, and the department of revenue shall incorporate the changes into the income tax forms and instructions.

AB50-ASA2-AA21,9337 Section 9337. Initial applicability; Revenue.

AB50-ASA2-AA21,4,14 (1) Homestead tax credit. The treatment of s. 71.54 (1) (h) first applies to claims filed for taxable years beginning after December 31, 2024.”.

AB50-ASA2-AA21,4,15 (end)