LRB-1039/2
JK&MES:cjs:pg
2001 - 2002 LEGISLATURE
February 19, 2001 - Introduced by Representatives Powers, Miller, Pettis,
Jeskewitz, Hoven, Albers, Gunderson, Townsend, McCormick and Berceau,
cosponsored by Senators Darling and Schultz. Referred to Committee on
Ways and Means.
AB138,1,2
1An Act to amend 71.07 (6) (am) 2. d. of the statutes;
relating to: the married
2persons individual income tax credit.
Analysis by the Legislative Reference Bureau
Under current law, married persons that file a joint individual income tax
return receive a tax credit equal to a percentage of one spouse's earned income. For
taxable years beginning after December 31, 2000, the tax credit is 3% of the earned
income of the spouse with the lower earned income, but not more than $480.
Under this bill, for taxable years beginning after December 31, 2000, the tax
credit is 3% of the earned income of the spouse with the lower earned income or 3%
of $10,000, whichever is greater, but not more than $480.
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:
AB138, s. 1
3Section
1. 71.07 (6) (am) 2. d. of the statutes is amended to read:
AB138,2,3
171.07
(6) (am) 2. d. For taxable years beginning after December 31, 2000, 3%
2of the earned income of the spouse with the lower earned income
or 3% of $10,000,
3whichever is greater, but not more than $480.
