2017 - 2018 LEGISLATURE
March 23, 2017 - Introduced by Senators Marklein, Vukmir, Kapenga, Cowles,
Stroebel and Olsen, cosponsored by Representatives Katsma, Ripp,
E. Brooks, Vorpagel, Allen, Born, R. Brooks, Gannon, Horlacher,
Kerkman, Kleefisch, Kooyenga, Kremer, Kulp, Macco, Murphy, Mursau,
Nygren, Rohrkaste, Skowronski, Spiros, Thiesfeldt, Tittl and Tusler.
Referred to Committee on Revenue, Financial Institutions and Rural Issues.
1An Act to create
71.98 (8) of the statutes; relating to: adopting a provision of
2the Internal Revenue Code related to the tax-free distribution from an
3individual retirement account to a qualified charitable organization.
Analysis by the Legislative Reference Bureau
For taxable years beginning after December 31, 2016, this bill adopts, for state
income and franchise tax purposes, a provision of the Internal Revenue Code
allowing an individual to make a tax-free distribution from his or her individual
retirement account directly to a qualified charitable organization, as defined under
Under federal law, the maximum amount that may be distributed tax-free is
$100,000, and the distribution must occur on or after the date on which the
individual on whose behalf the IRA is maintained reaches the age of 70 1/2 years.
Because this bill relates to an exemption from state or local taxes, it may be
referred to the Joint Survey Committee on Tax Exemptions for a report to be printed
as an appendix to the 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:
71.98 (8) of the statutes is created to read:
71.98 (8) Charitable distributions from an individual retirement account.
For taxable years beginning after December 31, 2016, section 408
(d) (8) of the 4
Internal Revenue Code, relating to a tax-free qualified charitable distribution from 5
an individual retirement account directly to a charitable organization.