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Bills from the 2021–22 session

Senate Bill 339

Increasing the net capital loss deduction. (FE)

Became law

The governor signed it on Mar 8, 2022. It's ⁠.

  1. Introduced, passed

    May 14, 2021

  2. Committee, passed

    Approved

  3. Senate vote, passed

    Passed Feb 22, 2022

  4. Assembly vote, passed

    Passed 96 to 0

  5. Governor, passed

    Signed

  6. Law, here now

    2021 Wisconsin Act 157

Latest entry in the official record, Mar 8, 2022: “Published 3-8-2022”

Read the bill

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What it does

Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.

This bill increases the maximum amount that individuals may claim as the net capital loss deduction to the same amount currently allowed under federal law.

Under current law, an individual subtracts his or her capital losses from capital gains when computing the amount of gain subject to Wisconsin income tax. If the capital losses exceed the capital gains, the individual may use up to $500 of the net loss to offset ordinary income, thus reducing the amount of ordinary income subject to tax. If the individual's net capital loss exceeds $500, the individual may carry forward the excess to future years and offset up to $500 of ordinary income each year until the net loss is used up. Federal law similarly allows individuals to offset net capital losses against ordinary income and carry forward the excess. However, the maximum annual offset under federal law is $3,000, which is reduced to $1,500 for married individuals who file separate returns.

Read the full summary

The bill increases the maximum annual offset for Wisconsin income tax purposes from $500 to $1,500 for married individuals filing separately and $3,000 for all other individuals. The bill applies to taxable years beginning after December 31, 2022.

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.

Who's behind it

4 senators are its ⁠. All 4 are Republicans.

14 more lawmakers ⁠.

See all 18 names

Authors (4)

Signed on in support (14)

What it would cost

State agencies filed a . Each opens as a PDF from the Legislature.

Versions and amendments

Every text the Legislature printed for this bill, including proposed changes. Each opens on the Legislature's site.

How lawmakers voted

There were 5 votes on this bill.

Senate Committee on Financial Institutions and Revenue vote on an amendment

Passed, 4 to 1 · Oct 20, 2021

No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.

Official motion: “Report adoption of Senate Amendment 1 recommended by Committee on Financial Institutions and Revenue, Ayes 4, Noes 1”. Official record · This vote on its own page

Senate Committee on Financial Institutions and Revenue vote to recommend it

Passed, 4 to 1 · Oct 20, 2021

No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.

Official motion: “Report passage as amended recommended by Committee on Financial Institutions and Revenue, Ayes 4, Noes 1”. Official record · This vote on its own page

Joint Committee on Finance vote on an amendment

Passed, 15 to 0 · Feb 9, 2022

No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.

Official motion: “Report adoption of Senate Amendment 1 recommended by Joint Committee on Finance, Ayes 15, Noes 0”. Official record · This vote on its own page

Joint Committee on Finance vote to recommend it

Passed, 15 to 0 · Feb 9, 2022

No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.

Official motion: “Report passage as amended recommended by Joint Committee on Finance, Ayes 15, Noes 0”. Official record · This vote on its own page

Assembly vote to pass it

Passed, 96 to 0 · Feb 23, 2022 · 3 didn't vote

See how each of the 99 representatives voted

D: Democrat, R: Republican

Yes (96)

Didn't vote (3)

Official motion: “CONCURRENCE”. Official record · This vote on its own page

What happened

  1. Mar 8, 2022

    The new law was published.

  2. Mar 8, 2022

    The governor signed it. It became 2021 Wisconsin Act 157.

  3. Mar 3, 2022

    Sent to the governor.

  4. Feb 23, 2022

    The Assembly passed it too, 96 to 0.

  5. Feb 22, 2022

    Sent to the Assembly Committee on Rules.

  6. Feb 22, 2022

    The Assembly received it.

  7. Feb 22, 2022

    The Senate passed it.

  8. Feb 22, 2022

    The Senate adopted it.

  9. Feb 9, 2022

    The committee voted to recommend passing it, 15 to 0.

  10. Feb 9, 2022

    “Report adoption of Senate Amendment 1 recommended by Joint Committee on Finance, Ayes 15, Noes 0” (the official wording)

  11. Jan 28, 2022

    Sent to the Joint Committee on Finance.

  12. Oct 20, 2021

    The committee voted to recommend passing it, 4 to 1.

  13. Oct 20, 2021

    “Report adoption of Senate Amendment 1 recommended by Committee on Financial Institutions and Revenue, Ayes 4, Noes 1” (the official wording)

  14. Oct 14, 2021

    The committee held a public hearing.

  15. May 28, 2021

    A state agency sent in its estimate of the cost.

  16. May 14, 2021

    Sent to the Senate Committee on Financial Institutions and Revenue.

  17. May 14, 2021

    Introduced in the Senate.

See the official record, word for word
  1. May 14, 2021 · Senate

    Introduced by Senators Kooyenga, Ballweg, Jacque and Nass; cosponsored by Representatives Sortwell, Brooks, Allen, Dittrich, Horlacher, Knodl, Krug, Kuglitsch, Moses, Murphy, Steffen, Thiesfeldt, Wichgers and Zimmerman

  2. May 14, 2021 · Senate

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

  3. May 28, 2021 · Senate

    Fiscal estimate received

  4. Jul 22, 2021 · Senate

    Senate Amendment 1 offered by Senator Kooyenga

  5. Oct 14, 2021 · Senate

    Public hearing held

  6. Oct 19, 2021 · Senate

    Executive action taken

  7. Oct 20, 2021 · Senate

    Report adoption of Senate Amendment 1 recommended by Committee on Financial Institutions and Revenue, Ayes 4, Noes 1

  8. Oct 20, 2021 · Senate

    Report passage as amended recommended by Committee on Financial Institutions and Revenue, Ayes 4, Noes 1

  9. Oct 20, 2021 · Senate

    Available for scheduling

  10. Jan 28, 2022 · Senate

    Withdrawn from committee on Senate Organization and rereferred to joint committee on Finance pursuant to Senate Rule 46(2)(c)

  11. Feb 9, 2022 · Senate

    Executive action taken

  12. Feb 9, 2022 · Senate

    Report adoption of Senate Amendment 1 recommended by Joint Committee on Finance, Ayes 15, Noes 0

  13. Feb 9, 2022 · Senate

    Report passage as amended recommended by Joint Committee on Finance, Ayes 15, Noes 0

  14. Feb 9, 2022 · Senate

    Available for scheduling

  15. Feb 18, 2022 · Senate

    Placed on calendar 2-22-2022 pursuant to Senate Rule 18(1)

  16. Feb 22, 2022 · Senate

    Read a second time

  17. Feb 22, 2022 · Senate

    Senate Amendment 1 adopted

  18. Feb 22, 2022 · Senate

    Ordered to a third reading

  19. Feb 22, 2022 · Senate

    Rules suspended

  20. Feb 22, 2022 · Senate

    Read a third time and passed

  21. Feb 22, 2022 · Senate

    Ordered immediately messaged

  22. Feb 22, 2022 · Assembly

    Received from Senate

  23. Feb 22, 2022 · Assembly

    Read first time and referred to committee on Rules

  24. Feb 22, 2022 · Assembly

    Made a special order of business at 8:09 AM on 2-23-2022 pursuant to Assembly Resolution 29

  25. Feb 23, 2022 · Assembly

    Read a second time

  26. Feb 23, 2022 · Assembly

    Ordered to a third reading

  27. Feb 23, 2022 · Assembly

    Rules suspended

  28. Feb 23, 2022 · Assembly

    Read a third time and concurred in, Ayes 96, Noes 0

  29. Feb 23, 2022 · Assembly

    Ordered immediately messaged

  30. Feb 23, 2022 · Senate

    Received from Assembly concurred in

  31. Mar 2, 2022 · Senate

    Report correctly enrolled

  32. Mar 3, 2022 · Senate

    Presented to the Governor on 3-3-2022

  33. Mar 8, 2022 · Senate

    Report approved by the Governor on 3-7-2022. 2021 Wisconsin Act 157

  34. Mar 8, 2022 · Senate

    Published 3-8-2022

Terms on this page

Wisconsin Act

The number a bill gets when it becomes law, like 2025 Wisconsin Act 12.

Official term: Act. More in the glossary

Legislative Reference Bureau

The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.

Official term: LRB analysis. More in the glossary

Author

A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.

Official term: Author, coauthor. More in the glossary

Signed on in support

Lawmakers who back a bill without being one of its authors, often from the other chamber.

Official term: Cosponsor. More in the glossary

Cost estimate

A state agency's estimate of what a bill would cost or save.

Official term: Fiscal estimate. More in the glossary

Roll call

A vote where each lawmaker's yes or no is recorded by name.

Official term: Roll call vote. More in the glossary

From the Wisconsin Legislature's official record, checked Sep 15, 2026. See the source

Wisconsin Act

The number a bill gets when it becomes law, like 2025 Wisconsin Act 12.

Official term: Act

More in the glossary

Legislative Reference Bureau

The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.

Official term: LRB analysis

More in the glossary

Author

A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.

Official term: Author, coauthor

More in the glossary

Signed on in support

Lawmakers who back a bill without being one of its authors, often from the other chamber.

Official term: Cosponsor

More in the glossary

Cost estimate

A state agency's estimate of what a bill would cost or save.

Official term: Fiscal estimate

More in the glossary

Roll call

A vote where each lawmaker's yes or no is recorded by name.

Official term: Roll call vote

More in the glossary