Bills · 2015-2016 Regular Session

SB 604

Died at session end Official bill text Atom feed

Relating to: repealing the authority to create ABLE accounts in this state and creating tax benefits for contributions to ABLE accounts in other states. (FE)

Administration, department of — Budget and fiscal issues Financial institution Income tax — Deduction Indian gaming and compacts Interstate relations Iowa county Persons with disabilities Revenue, department of

Introduced, stopped here
Passes Senate, not reached
Passes Assembly, not reached
Governor signs, not reached
Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

This bill makes changes to the laws in this state related to the federal Achieving

a Better Life Experience Act of 2014. Under federal law, an eligible resident of this

state may participate in a qualified ABLE program of another state and establish an

ABLE account. The proceeds of an ABLE account may be used to pay for qualified

expenses, such as education, housing, and transportation costs, for a beneficiary who

is an individual with disabilities, as defined under federal law.

2015 Wisconsin Act 55

, the state budget bill, authorized the creation of ABLE

accounts in this state. Generally, contributions to such an account could be

subtracted from the contributor's federal adjusted gross income in the calculation of

the taxpayer's Wisconsin taxes. This bill repeals the provisions which authorized the

creation of ABLE accounts in this state, although contributions to another state's

ABLE account continue to be tax-advantaged.

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.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Votes

Senate: Report adoption of Senate Amendment 1 recommended by Committee on Revenue, Financial Institutions, and Rural Issues, Ayes 5, Noes 0

Passed 5–0 Feb 10, 2016 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Senate: Report passage as amended recommended by Committee on Revenue, Financial Institutions, and Rural Issues, Ayes 5, Noes 0