LRB-4152/1
MES:wlj
2017 - 2018 LEGISLATURE
January 30, 2018 - Introduced by Representatives Vruwink and Kooyenga,
cosponsored by Senator Ringhand. Referred to Committee on Ways and
Means.
AB895,1,3
1An Act to create 71.98 (8) of the statutes;
relating to: adopting a provision of
2federal law concerning an individual's reporting of rollover payments received
3from certain airlines.
Analysis by the Legislative Reference Bureau
This bill adopts for Wisconsin purposes provisions of federal law that extend the
time in which a qualified airline employee may file an amended return to exclude
from gross income any payments authorized by a federal bankruptcy court that are
rolled into an individual retirement account. The bankruptcy in question relates to
an airline bankruptcy.
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:
AB895,1
4Section
1. 71.98 (8) of the statutes is created to read:
AB895,2,3
171.98
(8) Rollover amounts, airline carrier bankruptcy. For taxable years
2beginning after December 31, 2013, P.L.
113-243, related to the rollover of amounts
3received by a taxpayer in airline carrier bankruptcy.
