LRB-1545/1
MES&JK:jld:jf
2005 - 2006 LEGISLATURE
March 3, 2005 - Introduced by Representatives Musser, Hebl, Wood, Nass, Sinicki,
Suder, Black, Pettis, Albers, Davis, Hubler, Hines, Towns, Kreibich,
Gronemus, Vos, Freese, Hahn, Turner, Kestell, Owens, Ott, Nerison,
Gunderson, Hundertmark, Bies, Vrakas, Petrowski, Gundrum, F. Lasee and
McCormick, cosponsored by Senators Roessler, Kanavas, Carpenter,
Grothman, Kedzie, Lassa, Breske and Wirch. Referred to Committee on
Veterans Affairs. Referred to Joint Survey Committee on Tax Exemptions.
AB164,1,2
1An Act to create subchapter XVI of chapter 71 [precedes 71.98] of the statutes;
2relating to: exempting from taxation a military death gratuity payment.
Analysis by the Legislative Reference Bureau
This bill adopts, for state income and franchise tax purposes, section 102 of
Public Law 108-121 as it relates to exempting from taxation an amount that a person
receives as a military death gratuity payment. The federal law increases the
payment from $6,000 to $12,000 and amends the Internal Revenue Code to provide
that the entire payment is exempt from taxation.
This bill will be referred to the Joint Survey Committee on Tax Exemptions for
a detailed analysis, which will be printed as an appendix to this bill.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB164, s. 1
3Section
1. Subchapter XVI of chapter 71 [precedes 71.98] of the statutes is
4created to read:
AB164,2,32
Subchapter XVI
3
Internal revenue code update
AB164,2,5
471.98 Internal Revenue Code update. The following federal laws, to the
5extent that they apply to the Internal Revenue Code, apply to this chapter:
AB164,2,8
6(1) Military death gratuity payments. Section 102 of P.L.
108-121, to the
7extent that it relates to increasing the military death gratuity payment and
8exempting from taxation the entire amount of that payment.
AB164,2,1310
(1) This act first applies to taxable years beginning on January 1 of the year
11in which this subsection takes effect, except that if this subsection takes effect after
12July 31 this act first applies to taxable years beginning on January 1 of the year
13following the year in which this subsection takes effect.
