Assembly Bill 208 proposes to create several new provisions in the Wisconsin statutes that would exempt income received from grants and federal high-cost program funding specifically for broadband expansion from state income and franchise taxes. The bill establishes exemptions under sections 71.05 (1) (j), 71.26 (1) (j), 71.34 (1k) (q), and 71.45 (1) (dp), which detail that income from grants issued by state or local governments, tribal governments, or the federal government for broadband expansion will not be subject to these taxes. Additionally, funding from high-cost programs established by the Federal Communications Commission for broadband expansion is also exempted.

The bill includes a stipulation that prevents individuals from claiming these new exemptions in conjunction with existing exemptions for the same grant, ensuring that no double-dipping occurs. The provisions are set to take effect for taxable years beginning after December 31, 2024. This legislation aims to promote broadband expansion in Wisconsin by alleviating the tax burden on entities receiving such funding.