Assembly Bill 665 proposes a new provision in Wisconsin law that allows individuals who do not itemize their deductions for federal tax purposes to subtract charitable contributions from their taxable income. This subtraction applies to contributions made via cash, check, credit card, or similar payment methods to qualifying charitable organizations, as defined by the Internal Revenue Code. The bill sets a limit of $1,000 for individual taxpayers and $2,000 for married couples filing jointly.

Additionally, the bill specifies that contributions made for the establishment or maintenance of donor advised funds are excluded from this subtraction. It also includes provisions for individuals who change their domicile during the taxable year or for nonresident individuals, limiting the subtraction based on a fraction of their Wisconsin adjusted gross income relative to their federal adjusted gross income. This legislation aims to encourage charitable giving among non-itemizers by providing a tax benefit similar to existing federal deductions.