2025 - 2026 LEGISLATURE
LRB-2989/1
KP:cdc
May 19, 2025 - Introduced by Representatives Phelps, Arney, Bare, Behnke, Billings, Brown, DeSmidt, Fitzgerald, Johnson, Joers, Madison, Maxey, McCarville, Miresse, Ortiz-Velez, Roe and Snodgrass, cosponsored by Senators Smith, Dassler-Alfheim, Hesselbein, Keyeski, Larson and Spreitzer. Referred to Committee on Ways and Means.
AB264,1,3
1An Act to amend 71.07 (6e) (c) 2. of the statutes; relating to: certain
2limitations on claiming the veterans and surviving spouses property tax
3credit. Analysis by the Legislative Reference Bureau
Under current law, a person who claims the farmland preservation tax credit is prohibited from claiming the veterans and surviving spouses property tax credit in the same tax year. This bill allows a person to claim both the farmland preservation tax credit and the veterans and surviving spouses property tax credit in the same tax year.
Current law allows a person to claim a farmland preservation income tax credit for the person’s land engaged in an agricultural use, if the land is covered by a farmland preservation agreement, located in a farmland preservation zoning district, or covered by an agricultural conservation easement. Also, under current law, an eligible veteran or surviving spouse may claim a refundable income tax credit that equals the amount of property taxes paid during the year on the claimant’s principal dwelling in Wisconsin.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
AB264,1
1Section 1. 71.07 (6e) (c) 2. of the statutes is amended to read: AB264,2,5271.07 (6e) (c) 2. No credit may be allowed under this subsection if the 3individual, or the individual’s spouse, files a claim under sub. (3m) or (9) or subch. 4VIII or IX that relates to the same taxable year for which a claim is made under this 5subsection. AB264,26Section 2. Initial applicability. AB264,2,77(1) This act first applies to taxable years beginning on January 1, 2025.
