Senate Bill 529 aims to repeal a variety of obsolete tax credits and provisions in Wisconsin law, reflecting changes in tax policy and the expiration of certain credits. The bill specifically targets numerous tax credits that are no longer applicable due to sunset provisions, including the armed forces member credit, biodiesel fuel production credit, and the jobs tax credit, among others. Additionally, it seeks to repeal outdated tax provisions, such as those related to income tax rates and brackets for tax years prior to 2025, and the alternative minimum tax. The bill also includes amendments to existing statutes to ensure that the repeal of nonrefundable tax credits is delayed until the credits can no longer be utilized.

The proposed legislation includes significant deletions from current law, such as the repeal of sections related to various tax credits and provisions, including 13.94 (1) (ms), 20.250 (2) (h), and 71.01 (6) (j) through (m). It also amends certain sections to remove references to obsolete definitions and provisions, ensuring that the tax code is updated and streamlined. The overall goal of the bill is to simplify the tax code by eliminating outdated and unused tax credits, thereby improving clarity and efficiency in tax administration.

Statutes affected:
Text as Enrolled: 13.94(1)(ms), 13.94, 20.250(2)(h), 20.250, 20.566(1)(hp), 20.566, 20.835(2)(bb), 20.835, 20.835(2)(cc), 20.835(2)(ff), 71.01(6)(j), 71.01, 71.01(6)(k), 71.01(6)(m), 71.01(7g), 71.01(7r), 71.01(13), 71.03(7)(a), 71.03, 71.03(7)(b), 71.03(7)(c), 71.03(7)(d), 71.04(1)(a), 71.04, 71.04(4)(a), 71.04(4)(b), 71.04(4)(c), 71.04(4)(e), 71.04(4m)(a)1, 71.04(4m)(b)1, 71.04(4m)(c)1, 71.04(5), 71.04(6), 71.04(8)(b)1, 71.04(10), 71.05(6)(a)10, 71.05
Bill Text: 13.94(1)(ms), 13.94, 20.250(2)(h), 20.250, 20.566(1)(hp), 20.566, 20.835(2)(bb), 20.835, 20.835(2)(cc), 20.835(2)(ff), 71.01(6)(j), 71.01, 71.01(6)(k), 71.01(6)(m), 71.01(7g), 71.01(7r), 71.01(13), 71.03(7)(a), 71.03, 71.03(7)(b), 71.03(7)(c), 71.04(1)(a), 71.04