Assembly Bill 618 proposes a series of tax incentives aimed at promoting the development and operation of nuclear energy facilities in Wisconsin. The bill introduces a sales and use tax exemption for tangible personal property sold to construction contractors for use in nuclear energy facilities, which are defined as electric generating equipment and associated facilities that derive electricity from nuclear power. To qualify for this exemption, contractors must be certified by the Wisconsin Economic Development Corporation, with certifications lasting five years unless the facility receives an operating reactor license from the federal Nuclear Regulatory Commission.

Additionally, the bill establishes an income and franchise tax credit for electric public utilities, cooperatives, municipal electric companies, and qualified wholesale electric companies. This credit is based on wages paid to full-time employees and capital expenditures related to the construction and operation of nuclear energy facilities, excluding land acquisition costs. The bill also includes provisions for the transfer of these credits and specifies that partnerships, limited liability companies, and tax-option corporations cannot claim the credit directly but can pass the eligibility and amount to their partners or shareholders. The bill amends several sections of the statutes to incorporate these changes, including the addition of new subsections related to the nuclear energy facility credit.