Amendment ASA1-AB779

LRBs0368/1

JK:cdc

2023 - 2024 LEGISLATURE

ASSEMBLY SUBSTITUTE AMENDMENT 1, TO ASSEMBLY BILL 779

February 22, 2024 - Offered by Representative Shankland.

AB779-ASA1,1,3 An Act to create 71.07 (11) and 71.10 (4) (eb) of the statutes; relating to: creating an individual income tax credit for completing an apprenticeship program.

Analysis by the Legislative Reference Bureau

The bill allows an individual enrolled in an apprenticeship program to claim an income tax credit of $500 for the taxable year in which the individual completes the program.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB779-ASA1,1 Section 1. 71.07 (11) of the statutes is created to read:

AB779-ASA1,1,6 71.07 (11) Eligible apprenticeship expenses credit. (a) Definitions. In this subsection:

AB779-ASA1,1,7 1. “Apprentice” has the meaning given in s. 106.001 (1).

AB779-ASA1,2,1 2. “Apprenticeship program” has the meaning given in s. 106.001 (4).

AB779-ASA1,2,3 3. “Claimant” means an individual who is an apprentice enrolled in an apprenticeship program and who files a claim under this subsection.

AB779-ASA1,2,7 (b) Filing claims. For taxable years beginning after December 31, 2023, and subject to the limitations under this subsection, a claimant may claim as a credit against the tax imposed under s. 71.02 $500 for the taxable year in which the claimant successfully completes an apprenticeship program.

AB779-ASA1,2,9 (c) Limitations. No credit may be allowed under this subsection unless it is claimed within the time period under s. 71.75 (2).

AB779-ASA1,2,11 (d) Administration. Subsection (9e) (d), to the extent that it applies to the credit under that subsection, applies to the credit under this subsection.

AB779-ASA1,2 Section 2. 71.10 (4) (eb) of the statutes is created to read:

AB779-ASA1,2,13 71.10 (4) (eb) Eligible apprenticeship expenses credit under s. 71.07 (11).

AB779-ASA1,2,14 (End)