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Bills · 2021-2022 Regular Session

SB 126

Died at session end Official bill text Atom feed

Relating to: adopting for state tax purposes federal changes to the earned income tax credit. (FE)

Income tax — Credit

  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

This bill adopts for state income tax purposes changes made by the federal

Consolidated Appropriations Act of 2021 related to the earned income tax credit.

Under current law, the Wisconsin EITC is equal to a percentage of the federal EITC.

The EITC on both the state and federal levels is intended to provide financial

assistance to low-income families. By adopting the changes made by the CAA, if a

taxpayer's earned income for 2020 is less than the earned income for the preceding

year, the taxpayer may elect to use the earned income for the preceding year for the

taxable year 2020 for purposes of the EITC.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Agard (D) , Larson (D) , Ringhand (D) , Roys (D) , Smith (D) , Wirch (D)

19 cosponsors

Anderson (D) , Baldeh (D) , Bowen (D) , Brostoff (D) , Cabrera (D) , Conley (D) , Considine (D) , Doyle (D) , Drake (D) , Emerson (D) , McGuire (D) , Milroy (D) , Ohnstad (D) , Riemer (D) , S. Rodriguez (D) , Shankland (D) , Spreitzer (D) , Stubbs (D) , Vining (D)

Full history

  1. Feb 18, 2021 · Senate

    Introduced by Senators Ringhand, Agard, Larson, Roys, Smith and Wirch; cosponsored by Representatives McGuire, Conley, Ohnstad, Riemer, Anderson, Baldeh, Bowen, Brostoff, Cabrera, Considine, Doyle, Drake, Emerson, Milroy, Shankland, Spreitzer, Stubbs, S. Rodriguez and Vining

  2. Feb 18, 2021 · Senate

    Read first time and referred to Committee on Financial Institutions and Revenue

  3. Feb 23, 2021 · Senate

    Fiscal estimate received

  4. Mar 15, 2022 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1