AB419: Bill Text

LRB-2887/1

MES:amn

2015 - 2016 LEGISLATURE

2015 Assembly BILL 419

October 19, 2015 - Introduced by Representatives Krug, Quinn, R. Brooks, A. Ott and Horlacher, cosponsored by Senators Petrowski, Lassa and Hansen. Referred to Committee on Ways and Means.

AB419,1,4 An Act to repeal 71.10 (5fm) (k); and to amend 71.10 (5s) (a), 71.10 (5s) (b), 71.10 (5s) (d) 1., 71.10 (5s) (d) 4. and 71.10 (5s) (d) 5. of the statutes; relating to: removing the sunset provision that applies to the fire fighters memorial individual income tax checkoff.

Analysis by the Legislative Reference Bureau

This bill removes the sunset date for designating contributions under the individual income tax checkoff to the fire fighters memorial. Under current law, the ability to make such a designation would expire when the total amount of designations exceeds $400,000. This bill removes the sunset and makes the checkoff permanent.

For further information see the state and local 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:

AB419,1 Section 1. 71.10 (5fm) (k) of the statutes is repealed.

AB419,2 Section 2. 71.10 (5s) (a) of the statutes is amended to read:

AB419,2,9 71.10 (5s) (a) For taxable years beginning after December 31, 2011, individuals may not have the option of making a designation to more than 10 individual income checkoffs and the department may not place more than 10 checkoffs on the income tax form. If a checkoff is created for taxable years beginning after December 31, 2011, and before January 1, 2015, the department may not place it on the form, and no designations may be made to the checkoff, for a taxable year that begins before January 1, 2015, except that this limitation does not apply to a checkoff created in a bill that is introduced in both houses of the legislature before June 1, 2011. The limitations in this paragraph do not apply to the checkoff under sub. (5fm).

AB419,3 Section 3. 71.10 (5s) (b) of the statutes is amended to read:

AB419,2,13 71.10 (5s) (b) For taxable years beginning after December 31, 2011, there may be no individual income tax checkoffs of a temporary nature other than the checkoff under sub. (5fm).

AB419,4 Section 4. 71.10 (5s) (d) 1. of the statutes is amended to read:

AB419,2,19 71.10 (5s) (d) 1. If more than 11 checkoffs exist under this section after August 14, 2014, and every 2 years thereafter, not including the checkoff under sub. (5fm), only the 8 highest ranking checkoffs for which designations were made in the previous 2-year period may appear on the income tax form for the next 2 taxable years.

AB419,5 Section 5. 71.10 (5s) (d) 4. of the statutes is amended to read:

AB419,2,23 71.10 (5s) (d) 4. If 10 checkoffs exist under this section after August 14, 2014, not including the checkoff under sub. (5fm), those 10 checkoffs may appear on the income tax form for the next 2 taxable years.

AB419,6 Section 6. 71.10 (5s) (d) 5. of the statutes is amended to read:

AB419,3,8 71.10 (5s) (d) 5. If 11 checkoffs exist under this section after August 14, 2014, not including the checkoff under sub. (5fm), only the 9 highest ranking checkoffs for which designations were made in the previous 2-year period may appear on the income tax form for the next 2 taxable years. The remaining checkoff for which designations may be made and which shall be placed on the income tax form for the next 2 taxable years, in place of the lowest ranking checkoff, shall be a checkoff that has not received any designations during the previous 2-year period. This last checkoff shall be selected using the method described under subd. 3.

AB419,7 Section 7. Initial applicability.

AB419,3,13 (1) This act first applies to taxable years beginning on January 1 of the year in which this subsection takes effect, except that if this subsection takes effect after July 31, this act first applies to taxable years beginning on January 1 of the year following the year in which this subsection takes effect.

AB419,3,14 (End)