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Bills from the 2023–24 session

Assembly Bill 386

Lowering the individual income tax rates in the third bracket and increasing and expanding the retirement income subtraction. (FE)

Vetoed by the governor

Both chambers passed it, and the governor vetoed it on Mar 29, 2024. Lawmakers did not ⁠, so it stands.

  1. Introduced, passed

    Aug 29, 2023

  2. Committee, passed

    Approved

  3. Assembly vote, passed

    Passed 64 to 35

  4. Senate vote, passed

    Passed 22 to 10

  5. Governor, stopped here

    Vetoed Mar 29, 2024.

  6. Law, not reached

Latest entry in the official record, May 15, 2024: “Failed to pass notwithstanding the objections of the Governor pursuant to Joint Rule 82”

Read the governor's veto message · All vetoes this session

Read the bill

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What it would have done

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

Individual income tax rate This bill decreases the individual income tax rate in the third tax bracket from 5.3 percent to 4.40 percent beginning with the 2023 tax year.

Under current law, there are four income tax brackets for single individuals, certain fiduciaries, heads of households, and married persons, and the brackets are indexed for inflation. The rate of taxation under current law for the lowest bracket for single individuals, certain fiduciaries, heads of households, and married persons is 3.50 percent of taxable income. The rate for the second bracket is 4.40 percent.

Read the full summary

The rate for the third bracket is 5.3 percent. And the rate for the highest bracket is 7.65 percent. Before bracket indexing, the four brackets for individuals, certain fiduciaries, and heads of households, to which the above rates apply, are as follows:

1) taxable income from $0 to $7,500; 2) taxable income exceeding $7,500 but not exceeding $15,000; 3) taxable income exceeding $15,000 but not exceeding $225,000;

and 4) taxable income exceeding $225,000.

Retirement income subtraction This bill increases and expands the individual state income tax subtraction for payments or distributions received from qualified retirement plans under the Internal Revenue Code or from certain individual retirement accounts. Under the bill, beginning in tax year 2023, up to $100,000 of payments or distributions received from qualified retirement plans or certain individual retirement accounts may be subtracted annually from an individual's taxable income, if the individual is at least 67 years of age. If the individual and individual's spouse are both at least 67 years of age, the sum of the amount that the couple may subtract annually from their combined taxable income may not exceed $150,000.

Under current law, up to $5,000 of payments or distributions received by certain individuals from qualified retirement plans or from certain individual retirement accounts may be subtracted. To be eligible, the individual must be at least 65 years old and have federal adjusted gross income under $15,000, or under $30,000 if married.

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

55 representatives are its ⁠. All 55 are Republicans.

7 more lawmakers ⁠.

See all 62 names

Authors (55)

Signed on in support (7)

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 6 votes on this bill.

Assembly Committee on Ways and Means vote to recommend it

Passed, 9 to 3 · Sep 6, 2023

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

Official motion: “Report passage recommended by Committee on Ways and Means, Ayes 9, Noes 3”. Official record · This vote on its own page

Assembly vote

Passed, 64 to 35 · Sep 12, 2023

See how each of the 99 representatives voted

D: Democrat, R: Republican

Yes (64)

Official motion: “SHALL THE DECISION OF THE CHAIR STAND”. Official record · This vote on its own page

Assembly vote to pass it

Passed, 64 to 35 · Sep 12, 2023

See how each of the 99 representatives voted

D: Democrat, R: Republican

Yes (64)

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

Joint Committee on Finance vote to recommend it

Passed, 11 to 4 · Sep 26, 2023

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

Official motion: “Report concurrence recommended by Joint Committee on Finance, Ayes 11, Noes 4”. Official record · This vote on its own page

Senate vote

Passed, 5 to 0 · Jan 12, 2024

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

Official motion: “Public hearing requirement waived by committee on Senate Organization, pursuant to Senate Rule 18 (1m), Ayes 5, Noes 0”. Official record · This vote on its own page

Senate vote to pass it

Passed, 22 to 10 · Jan 16, 2024 · 1 didn't vote

See how each of the 33 senators voted

D: Democrat, R: Republican

Didn't vote (1)

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

What happened

  1. May 15, 2024

    The veto stood. Lawmakers didn't override it.

  2. Mar 29, 2024

    The governor vetoed it.

  3. Mar 26, 2024

    Sent to the governor.

  4. Jan 16, 2024

    The Senate passed it too, 22 to 10.

  5. Jan 12, 2024

    “Public hearing requirement waived by committee on Senate Organization, pursuant to Senate Rule 18 (1m), Ayes 5, Noes 0” (the official wording)

  6. Sep 26, 2023

    The committee voted to recommend passing it, 11 to 4.

  7. Sep 22, 2023

    Sent to the Joint Committee on Finance.

  8. Sep 20, 2023

    Sent to the Senate Committee on Universities and Revenue.

  9. Sep 13, 2023

    The Senate received it.

  10. Sep 12, 2023

    The Assembly passed it, 64 to 35.

  11. Sep 12, 2023

    “Point of order that Assembly Amendment 1 not germane under Assembly Rule 54 (3)(f) well taken” (the official wording)

  12. Sep 11, 2023

    “Report of Joint Survey Committee on Tax Exemptions received” (the official wording)

  13. Sep 11, 2023

    A state agency sent in its estimate of the cost.

  14. Sep 6, 2023

    Sent to the Assembly Committee on Rules.

  15. Sep 6, 2023

    The committee voted to recommend passing it, 9 to 3.

  16. Aug 31, 2023

    1 more representative signed on in support.

  17. Aug 30, 2023

    Sent to the Assembly Committee on joint survey committee on Tax Exemptions.

  18. Aug 30, 2023

    1 more representative signed on in support.

  19. Aug 30, 2023

    The committee held a public hearing.

  20. Aug 29, 2023

    Sent to the Assembly Committee on Ways and Means.

  21. Aug 29, 2023

    Introduced in the Assembly.

See the official record, word for word
  1. Aug 29, 2023 · Assembly

    Introduced by Representatives Steffen, Katsma, O'Connor, Allen, Armstrong, August, Born, Behnke, Binsfeld, Callahan, Dallman, Dittrich, Donovan, Duchow, Edming, Goeben, Green, Gundrum, Gustafson, Hurd, S. Johnson, Krug, Kitchens, Kurtz, Macco, Magnafici, Maxey, Melotik, Michalski, Moses, Mursau, Nedweski, Novak, Penterman, Petersen, Petryk, Plumer, Pronschinske, Rettinger, Rodriguez, Rozar, Sapik, Schmidt, Schraa, Snyder, Sortwell, Swearingen, Summerfield, Tittl, Tusler, VanderMeer, Vos, Wittke, Zimmerman and Oldenburg; cosponsored by Senators Cabral-Guevara, Bradley, Knodl, Jagler and Wanggaard

  2. Aug 29, 2023 · Assembly

    Read first time and referred to Committee on Ways and Means

  3. Aug 30, 2023 · Assembly

    Public hearing held

  4. Aug 30, 2023 · Assembly

    Representative Brooks added as a coauthor

  5. Aug 30, 2023 · Assembly

    Referred to joint survey committee on Tax Exemptions pursuant to s.13.52, Wisconsin Statutes

  6. Aug 31, 2023 · Assembly

    Representative Tranel added as a coauthor

  7. Sep 6, 2023 · Assembly

    Executive action taken

  8. Sep 6, 2023 · Assembly

    Report passage recommended by Committee on Ways and Means, Ayes 9, Noes 3

  9. Sep 6, 2023 · Assembly

    Referred to committee on Rules

  10. Sep 7, 2023 · Assembly

    Placed on calendar 9-12-2023 by Committee on Rules

  11. Sep 11, 2023 · Assembly

    Fiscal estimate received

  12. Sep 11, 2023 · Assembly

    Executive action taken by joint survey committee on Tax Exemptions

  13. Sep 11, 2023 · Assembly

    Report of Joint Survey Committee on Tax Exemptions received

  14. Sep 12, 2023 · Assembly

    Read a second time

  15. Sep 12, 2023 · Assembly

    Assembly Amendment 1 offered by Representatives Ohnstad, Cabrera, Palmeri, Sinicki, Ratcliff, Joers, Myers, C. Anderson, Stubbs, Bare, Jacobson, Snodgrass, Conley, Emerson, Billings, Subeck, Considine, Riemer, Neubauer, J. Anderson, Shankland, Shelton, Goyke, Moore Omokunde, Andraca, Haywood, Baldeh, Ortiz-Velez, Drake, McGuire and Vining

  16. Sep 12, 2023 · Assembly

    Point of order that Assembly Amendment 1 not germane under Assembly Rule 54 (3)(f) well taken

  17. Sep 12, 2023 · Assembly

    Decision of the Chair appealed

  18. Sep 12, 2023 · Assembly

    Decision of the Chair upheld, Ayes 64, Noes 35

  19. Sep 12, 2023 · Assembly

    Ordered to a third reading

  20. Sep 12, 2023 · Assembly

    Rules suspended

  21. Sep 12, 2023 · Assembly

    Read a third time and passed, Ayes 64, Noes 35

  22. Sep 12, 2023 · Assembly

    Ordered immediately messaged

  23. Sep 13, 2023 · Senate

    Received from Assembly

  24. Sep 20, 2023 · Senate

    Read first time and referred to committee on Universities and Revenue

  25. Sep 22, 2023 · Senate

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

  26. Sep 26, 2023 · Senate

    Executive action taken

  27. Sep 26, 2023 · Senate

    Report concurrence recommended by Joint Committee on Finance, Ayes 11, Noes 4

  28. Sep 26, 2023 · Senate

    Available for scheduling

  29. Jan 12, 2024 · Senate

    Public hearing requirement waived by committee on Senate Organization, pursuant to Senate Rule 18 (1m), Ayes 5, Noes 0

  30. Jan 12, 2024 · Senate

    Placed on calendar 1-16-2024 pursuant to Senate Rule 18(1)

  31. Jan 16, 2024 · Senate

    Read a second time

  32. Jan 16, 2024 · Senate

    Ordered to a third reading

  33. Jan 16, 2024 · Senate

    Rules suspended to give bill its third reading

  34. Jan 16, 2024 · Senate

    Read a third time and concurred in, Ayes 22, Noes 10

  35. Jan 16, 2024 · Senate

    Ordered immediately messaged

  36. Jan 16, 2024 · Assembly

    Received from Senate concurred in

  37. Jan 17, 2024 · Assembly

    Report correctly enrolled on 1-17-2024

  38. Mar 26, 2024 · Assembly

    Presented to the Governor on 3-26-2024

  39. Mar 29, 2024 · Assembly

    Report vetoed by the Governor on 3-29-2024

  40. May 14, 2024 · Assembly

    Placed on calendar 5-14-2024 pursuant to Joint Rule 82 (2)(a)

  41. May 15, 2024 · Assembly

    Failed to pass notwithstanding the objections of the Governor pursuant to Joint Rule 82

Terms on this page

Veto override

Lawmakers can still pass a bill the governor vetoed, but it takes two-thirds of each chamber.

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

Veto override

Lawmakers can still pass a bill the governor vetoed, but it takes two-thirds of each chamber.

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