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Bills · 2009-2010 Regular Session

SB 425

Died at session end Official bill text Atom feed

creating a nonrefundable individual income tax credit for certain amounts relating to health savings accounts that may be deducted from, or are exempt from, federal income taxes.

  1. Introduced, stopped here
  2. Passes Senate, not reached
  3. Passes Assembly, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

Under current federal law, certain individuals may make tax-deductible

contributions to health savings accounts (HSAs) and withdraw the money tax-free

when needed to cover routine and preventive medical care.

Under this bill, an individual who makes contributions to such an HSA may

claim a nonrefundable income tax credit for 6.5 percent of the allowable amount that

the individual claims as a federal tax deduction for a contribution to an HSA or 6.5

percent of the federal tax-exempt earnings relating to an HSA, or both. The credit

may not be claimed, however, by a single person, head of household, or married

person who files a separate return if the person's Wisconsin adjusted gross income

(AGI) exceeds 500 percent of the federal poverty level, or AGI in excess of 500 percent

of the federal poverty level in the case of a married couple who files a joint return.

The bill first applies to taxable years beginning on January 1, 2011.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Hansen (D) , Holperin (D) , Kreitlow (D) , Lehman (D) , Plale (D) , Schultz (R) , Sullivan (D) , Taylor (D) , Vinehout (D)

17 cosponsors

A. Williams (D) , Clark (D) , Danou (D) , Dexter (D) , Fields (D) , Hilgenberg (D) , Hraychuck (D) , Hubler (D) , Jorgensen (D) , Molepske Jr. (D) , Pasch (D) , Smith (D) , Soletski (D) , Staskunas (D) , Turner (D) , Ziegelbauer (I) , Zigmunt (D)

Full history

  1. Dec 15, 2009 · Senate

    Introduced by Senators Kreitlow, Sullivan, Vinehout, Holperin, Lehman, Plale, Taylor, Schultz and Hansen;Cosponsored by Representatives Dexter, Zigmunt, Clark, Danou, Fields, Hilgenberg, Hraychuck, Hubler, Jorgensen, Molepske Jr., Pasch, Smith, Soletski, Staskunas, Turner, A. Williams and Ziegelbauer

  2. Dec 15, 2009 · Senate

    Read first time and referred to committee on Health, Health Insurance, Privacy, Property Tax Relief, and Revenue

  3. Feb 17, 2010 · Senate

    Public hearing held

  4. Apr 28, 2010 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1