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AB68,1303 16Section 1303. 71.07 (6e) (c) 3. of the statutes is amended to read:
AB68,859,2217 71.07 (6e) (c) 3. If an eligible veteran and an eligible spouse file separate
18returns, each spouse may claim a credit under this subsection for property taxes
19based on their respective ownership interest in the eligible veteran's principal
20dwelling or for rent constituting property taxes based on 50 percent of the total rent
21constituting property taxes paid during the taxable year for the eligible veteran's
22principal dwelling
.
AB68,1304 23Section 1304. 71.07 (8b) (a) 5. of the statutes is amended to read:
AB68,860,324 71.07 (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.
AB68,1305 4Section 1305. 71.07 (8b) (a) 7. of the statutes is amended to read:
AB68,860,145 71.07 (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
.
AB68,1306 15Section 1306 . 71.07 (8m) of the statutes is created to read:
AB68,860,1716 71.07 (8m) Flood insurance premiums credit. (a) Definition. In this
17subsection:
AB68,860,1818 1. “Claimant" means an individual who files a claim under this subsection.
AB68,860,2019 2. “Flood insurance" means a flood insurance policy that covers the principal
20dwelling of the claimant.
AB68,861,221 (b) Filing claims. Subject to the limitations provided in this subsection, for
22taxable years beginning after December 31, 2020, a claimant may claim as a credit
23against the tax imposed under s. 71.02, up to the amount of those taxes, an amount
24equal to 10 percent of the amount of the premiums the claimant paid in the taxable

1year for flood insurance, but the amount of the credit may not exceed $60 in any
2taxable year.
AB68,861,43 (c) Limitations. 1. No credit may be claimed under this subsection by a
4part-year resident or a nonresident of this state.
AB68,861,65 2. No credit may be allowed under this subsection unless it is claimed within
6the period specified in s. 71.75 (2).
AB68,861,97 3. No credit may be allowed under this subsection for a taxable year covering
8a period of less than 12 months, except for a taxable year closed by reason of the death
9of the taxpayer.
AB68,861,1110 (d) Administration. Subsection (9e) (d), to the extent that it applies to the credit
11under that subsection, applies to the credit under this subsection.
AB68,1307 12Section 1307 . 71.07 (8p) of the statutes is created to read:
AB68,861,1313 71.07 (8p) Family caregiver tax credit. (a) Definitions. In this subsection:
AB68,861,1514 1. “Claimant" means an individual who files a claim under this subsection for
15amounts paid for qualified expenses to benefit a qualified family member.
AB68,861,1616 2. “Physician” has the meaning given in s. 36.60 (1) (b).
AB68,861,1917 3. “Qualified expenses” means amounts paid by a claimant in the year to which
18the claim relates for items that relate directly to the care or support of a qualified
19family member, including the following:
AB68,861,2120 a. The improvement or alteration of the claimant's primary residence to enable
21or assist the qualified family member to be mobile, safe, or independent.
AB68,861,2322 b. The purchase or lease of equipment to enable or assist the qualified family
23member to carry out one or more activities of daily living.
AB68,862,224 c. The acquisition of goods or services, or support, to assist the claimant in
25caring for the qualified family member, including employing a home care aide or

1personal care attendant, adult day care, specialized transportation, legal or financial
2services, or assistive care technology.
AB68,862,43 4. “Qualified family member” means an individual to whom all of the following
4apply:
AB68,862,65 a. The individual is at least 18 years of age during the taxable year to which
6the claim relates.
AB68,862,87 b. The individual requires assistance with one or more daily living activities,
8as certified in writing by a physician.
AB68,862,99 c. The individual is the claimant's family member, as defined in s. 46.2805 (6m).
AB68,862,1310 (b) Filing claims. For taxable years beginning after December 31, 2020, and
11subject to the limitations provided in this subsection, a claimant may claim as a
12credit against the tax imposed under s. 71.02, up to the amount of those taxes, 50
13percent of the claimant's qualified expenses.
AB68,862,2114 (c) Limitations. 1. Subject to subds. 2. and 3., the maximum credit that may
15be claimed under this subsection each taxable year with regard to a particular
16qualified family member is $500 or, if a claimant is married and filing a separate
17return, $250. If more than one individual may file a claim under this subsection for
18a particular qualified family member, the maximum credit specified in this
19subdivision shall be apportioned among all eligible claimants based on the ratio of
20their qualified expenses to the total amount of all qualified expenses incurred on
21behalf of that particular qualified family member, as determined by the department.
AB68,863,222 2. If the claimant is married and filing jointly and the couple's federal adjusted
23gross income in the taxable year exceeds $170,000, no credit may be claimed under
24this subsection. If the claimant is married and filing jointly and the couple's federal
25adjusted gross income in the taxable year exceeds $150,000, but does not exceed

1$170,000, the credit claimed under this subsection may not exceed the amount
2determined as follows:
AB68,863,43 a. Determine the amount allowed under par. (b) without regard to this
4subdivision but with regard to subd. 1.
AB68,863,55 b. Subtract $150,000 from the couple's federal adjusted gross income.
AB68,863,66 c. Divide the amount determined under subd. 2. b. by $20,000.
AB68,863,87 d. Multiple the amount determined under subd. 2. a. by the amount determined
8under subd. 2. c.
AB68,863,109 e. Subtract the amount determined under subd. 2. d. from the amount
10determined under subd. 2. a.
AB68,863,1711 3. If the claimant files as a single individual or head of household, or is married
12and files separately, and the claimant's federal adjusted gross income in the taxable
13year exceeds $85,000, no credit may be claimed under this subsection. If the claimant
14files as a single individual or head of household, or is married and files separately,
15and the claimant's federal adjusted gross income in the taxable year exceeds $75,000,
16but does not exceed $85,000, the credit claimed under this subsection may not exceed
17the amount determined as follows:
AB68,863,1918 a. Determine the amount allowed under par. (b) without regard to this
19subdivision but with regard to subd. 1.
AB68,863,2020 b. Subtract $75,000 from the claimant's federal adjusted gross income.
AB68,863,2121 c. Divide the amount determined under subd. 3. b. by $10,000.
AB68,863,2322 d. Multiple the amount determined under subd. 3. a. by the amount determined
23under subd. 3. c.
AB68,863,2524 e. Subtract the amount determined under subd. 3. d. from the amount
25determined under subd. 3. a.
AB68,864,2
14. No credit may be allowed under this subsection unless it is claimed within
2the period specified under s. 71.75 (2).
AB68,864,43 5. No credit may be claimed under this subsection by nonresidents or part-year
4residents of this state.
AB68,864,55 6. Qualified expenses may not include any of the following:
AB68,864,66 a. General food, clothing, or transportation expenses.
AB68,864,87 b. Ordinary household maintenance or repair expenses that are not directly
8related or necessary for the care of the qualified family member.
AB68,864,99 c. Any amount that is paid or reimbursed by insurance or other means.
AB68,864,1210 7. No credit may be allowed under this subsection for a taxable year covering
11a period of less than 12 months, except for a taxable year closed by reason of the death
12of the taxpayer.
AB68,864,1413 (d) Administration. Subsection (9e) (d), to the extent that it applies to the credit
14under that subsection, applies to the credit under this subsection.
AB68,1308 15Section 1308. 71.07 (9e) (aj) (intro.) of the statutes is amended to read:
AB68,864,2016 71.07 (9e) (aj) (intro.) For taxable years beginning after December 31, 2010,
17and before January 1, 2021, an individual may credit against the tax imposed under
18s. 71.02 an amount equal to one of the following percentages of the federal basic
19earned income credit for which the person is eligible for the taxable year under
20section 32 (b) (1) (A) to (C) of the Internal Revenue Code:
AB68,1309 21Section 1309. 71.07 (9e) (ak) of the statutes is created to read:
AB68,865,222 71.07 (9e) (ak) For taxable years beginning after December 31, 2020, an
23individual may credit against the tax imposed under s. 71.02 an amount equal to one
24of the following percentages of the federal basic earned income credit for which the

1individual is eligible for the taxable year under section 32 (b) (1) of the Internal
2Revenue Code:
AB68,865,43 1. If the individual has one qualifying child who has the same principal place
4of abode as the individual, 16 percent.
AB68,865,65 2. If the individual has 2 qualifying children who have the same principal place
6of abode as the individual, 25 percent.
AB68,865,87 3. If the individual has 3 or more qualifying children who have the same
8principal place of abode as the individual, 34 percent.
AB68,1310 9Section 1310 . 71.07 (9e) (b) of the statutes is amended to read:
AB68,865,1310 71.07 (9e) (b) No credit may be allowed under this subsection to married
11persons, except married persons living apart who are treated as single under section
127703 (b) of the internal revenue code Internal Revenue Code, if the husband and wife
13spouses report their income on separate income tax returns for the taxable year.
AB68,1311 14Section 1311 . 71.07 (9g) of the statutes is created to read:
AB68,865,1615 71.07 (9g) Additional child and dependent care tax credit. (a) Definitions.
16In this subsection:
AB68,865,1917 1. “Claimant" means an individual who is eligible for and claims the federal
18child and dependent care tax credit for the taxable year to which the claim under this
19subsection relates.
AB68,865,2120 2. “Federal child and dependent care tax credit” means the tax credit under 26
21USC section 21
.
AB68,866,222 (b) Filing claims. Subject to the limitations provided in this subsection, a
23claimant may claim as a credit against the tax imposed under s. 71.02, up to the
24amount of those taxes, an amount equal to 50 percent of the federal child and

1dependent care tax credit claimed by the claimant on his or her federal income tax
2return for the taxable year to which the claim under this subsection relates.
AB68,866,43 (c) Limitations. 1. No credit may be allowed under this subsection unless it
4is claimed within the period under s. 71.75 (2).
AB68,866,75 2. No credit may be allowed under this subsection for a taxable year covering
6a period of less than 12 months, except for a taxable year closed by reason of the death
7of the claimant.
AB68,866,98 3. The credit under this subsection may not be claimed by a part-year resident
9or a nonresident of this state.
AB68,866,1110 4. A claimant who claims the credit under this subsection is subject to the
11special rules in 26 USC 21 (e) (2) and (4).
AB68,866,1312 (d) Administration. Subsection (9e) (d), to the extent that it applies to the credit
13under that subsection, applies to the credit under this subsection.
AB68,1312 14Section 1312 . 71.09 (13) (a) 2. of the statutes is amended to read:
AB68,866,2215 71.09 (13) (a) 2. The tax shown on the return for the preceding year. If a
16husband and wife
spouses who filed separate returns for the preceding taxable year
17file a joint return, the tax shown on the return for the preceding year is the sum of
18the taxes shown on the separate returns of the husband and wife spouses. If a
19husband and wife
spouses who filed a joint return for the preceding taxable year file
20separate returns, the tax shown on the return for the preceding year is the husband's
21or wife's
each spouse's proportion of that tax based on what their respective tax
22liabilities for that year would have been had they filed separately.
AB68,1313 23Section 1313 . 71.10 (4) (cs) of the statutes is created to read:
AB68,866,2424 71.10 (4) (cs) Additional child and dependent care tax credit under s. 71.07 (9g).
AB68,1314 25Section 1314 . 71.10 (4) (ct) of the statutes is created to read:
AB68,867,1
171.10 (4) (ct) Work opportunity tax credit under s. 71.07 (4t).
AB68,1315 2Section 1315 . 71.10 (4) (ha) of the statutes is created to read:
AB68,867,33 71.10 (4) (ha) Flood insurance premiums credit under s. 71.07 (8m).
AB68,1316 4Section 1316 . 71.10 (4) (hd) of the statutes is created to read:
AB68,867,55 71.10 (4) (hd) Family caregiver tax credit under s. 71.07 (8p).
AB68,1317 6Section 1317 . 71.10 (4) (k) of the statutes is created to read:
AB68,867,77 71.10 (4) (k) Any amount computed under s. 71.83 (1) (ch).
AB68,1318 8Section 1318 . 71.10 (10) of the statutes is created to read:
AB68,867,109 71.10 (10) First-time homebuyer savings accounts. (a) Definitions. In this
10subsection:
AB68,867,1211 1. “Account holder” means an individual who creates, individually or jointly
12with his or her spouse, an account under par. (b) 1.
AB68,867,1413 2. “Allowable closing costs” means disbursements listed in a settlement
14statement for the purchase of a single-family residence by a beneficiary.
AB68,867,1615 3. “Beneficiary" means a first-time homebuyer who is designated by an account
16holder as the beneficiary of an account created under par. (b) 1.
AB68,867,1817 4. “Eligible costs” means the down payment and allowable closing costs for the
18purchase of a single-family residence in this state by a beneficiary.
AB68,867,2319 5. “Financial institution" means a bank, trust company, savings institution,
20savings bank, savings and loan association, industrial loan association, consumer
21finance company, credit union, or a benefit association, insurance company, safe
22deposit company, money market mutual fund, or similar entity authorized to do
23business in this state.
AB68,868,224 6. “First-time homebuyer” means an individual who resides in this state and
25did not have, either individually or jointly, a present ownership interest in a

1single-family residence during the 36 months before the month in which the
2individual purchases a single-family residence in this state.
AB68,868,53 7. “Single-family residence” means a residence intended for occupation by a
4single family unit that is purchased by a beneficiary for use as his or her principal
5residence.
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