This bill increases the amount of state public debt that may be contracted to
refund any unpaid indebtedness used to finance tax-supported or self-amortizing
facilities from $6,785,000,000 to $7,510,000,000.

This bill authorizes state agencies, authorities, local governments, the
legislature, and the courts to suspend, during the public health emergency declared
on March 12, 2020, by executive order 72, deadlines and training requirements that
they administer or enforce. The bill excludes deadlines relating to the filing or
payment of taxes and deadlines relating to an election.

This bill makes a number of changes to conform Wisconsin's tax law to federal
tax law changes enacted in March 2020 in response to the coronavirus outbreak. The
bill includes the following changes:

1. Exempts from otherwise applicable penalties certain taxable year 2020
distributions from a retirement account qualified under the Internal Revenue Code,
and exempts from income taxation these distributions subject to a number of
conditions.

2. Creates additional deductions, for taxable year 2020, for certain individual
charitable contributions, and suspends the limitations on certain individual and

corporate charitable deductions. The suspension of limitations applies to
contributions made in calendar year 2020 only, although certain amounts donated
in 2020 may be carried forward to future years.

3. Clarifies that an individual's health insurance plan is still treated as a high
deductible plan even if it fails to provide a deductible for telehealth and other remote
care services.

4. Conforms state law to federal law regarding the treatment of paycheck
protection loans to businesses and employees under the small business
administration's loan guarantee program for the period of time from February 15,
2020, through June 30, 2020. A portion of the loans may be forgiven on a tax-free
basis under certain conditions.

5. Provides an exclusion from income for certain student loan principal and
interest payments made by an employer on behalf of an employee, subject to the same
current law cap of $5,250 in payments for qualified educational expenses made on
behalf of an employee by an employer. This provision applies to payments made from
March 28, 2020, through December 31, 2020.

6. Corrects a drafting error in the federal Tax Cuts and Jobs Act of 2017 to
provide a 15-year recovery period for qualified improvement property.

This bill authorizes the secretary of revenue to waive, for any person who fails
to remit general fund taxes or transportation fund taxes and fees by their due date,
the interest and penalties that accrue during the period covered by the COVID-19
public health emergency if the due date falls within that period and the secretary
determines that the person's failure is due to the effects of the COVID-19 pandemic.

Under current law, a late installment payment of property taxes is subject to
interest and penalties, with the interest accruing from February 1 of the year in
which the taxes are due. Under this bill, for property taxes payable in 2020, after
making a general or case-by-case finding of hardship, a municipality may provide
that an installment payment due after April 1, 2020, that is received after its due
date will not accrue interest or penalties if the total amount due is received on or
before October 1, 2020. Interest and penalties will accrue from October 1, 2020, for
any property taxes payable in 2020 that are delinquent after October 1, 2020.

Current law allows a person to file a claim to recover the unlawful imposition
of property taxes or a claim for the excessive assessment of property taxes. However,
no person may file a claim for recovery of unlawful taxes or excessive assessment
unless the person has paid his or her property taxes on time. The bill provides that
this restriction does not apply to taxes due and payable in 2020 if paid by October 1,
2020, or by any installment date for which taxes are due after October 1, 2020.

Because this bill creates a new crime or revises a penalty for an existing crime,
the Joint Review Committee on Criminal Penalties may be requested to prepare a
report.

Because this bill relates to an exemption from state or local taxes, it may be
referred to the Joint Survey Committee on Tax Exemptions for a report to be printed
as an appendix to the bill.