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Bills · 2023-2024 Regular Session

AB 406

Became law Official bill text Atom feed

Relating to: adopting changes to the federal Internal Revenue Code for state tax purposes. (FE)

Franchise — Taxation Income tax Legislature — Tax exemptions joint survey committee on

  1. Introduced, completed
  2. Passes Assembly, completed
  3. Passes Senate, completed
  4. Governor signs, completed
  5. Law, completed

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

This bill adopts, for state income and franchise tax purposes, certain changes

made to the Internal Revenue Code by the following federal acts:

1. The American Rescue Plan Act of 2021.

2. The Infrastructure Investment and Jobs Act.

3. The Consolidated Appropriations Act of 2022.

4. The Inflation Reduction Act of 2022.

5. The Consolidated Appropriations Act of 2023.

The bill also updates the reference to the federal Internal Revenue Code

regarding the exclusion for gain from certain small business stock so that the

exclusion allowed under state law is always in compliance with the exclusion under

federal law.

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

Sponsors

Introduced by: Katsma (R)

2 cosponsors

Marklein (R) , Steffen (R)

Votes

Assembly: Report Assembly Substitute Amendment 1 adoption recommended by Committee on Ways and Means, Ayes 12, Noes 0

Passed 12–0 Oct 12, 2023 official source full page

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

Assembly: Report passage as amended recommended by Committee on Ways and Means, Ayes 12, Noes 0

Passed 12–0 Oct 12, 2023 official source full page

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

Senate: Senate Amendment 1 rejected, Ayes 22, Noes 10

Passed 22–10 Oct 17, 2023 official source full page

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

Assembly: PASSAGE

Passed 97–0 Oct 17, 2023 official source full page

Aye · 97

Not voting · 2

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

Passed 5–0 Oct 17, 2023 official source full page

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

Senate: CONCURRENCE

Passed 32–0 Oct 17, 2023 official source full page

Not voting · 1

Full history

  1. Sep 6, 2023 · Assembly

    Introduced by Representative Katsma; cosponsored by Senator Marklein

  2. Sep 6, 2023 · Assembly

    Read first time and referred to Committee on Ways and Means

  3. Sep 6, 2023 · Assembly

    Read first time and referred to Joint Survey Committee on Tax Exemptions

  4. Sep 14, 2023 · Assembly

    Assembly Substitute Amendment 1 offered by Representative Katsma

  5. Sep 28, 2023 · Assembly

    Fiscal estimate received

  6. Sep 28, 2023 · Assembly

    Public hearing held

  7. Oct 10, 2023 · Assembly

    Executive action taken

  8. Oct 12, 2023 · Assembly

    Placed on calendar 10-17-2023 by Committee on Rules

  9. Oct 12, 2023 · Assembly

    Report Assembly Substitute Amendment 1 adoption recommended by Committee on Ways and Means, Ayes 12, Noes 0

  10. Oct 12, 2023 · Assembly

    Report passage as amended recommended by Committee on Ways and Means, Ayes 12, Noes 0

  11. Oct 12, 2023 · Assembly

    Referred to committee on Rules

  12. Oct 16, 2023 · Assembly

    Executive action taken by joint survey committee on Tax Exemptions

  13. Oct 16, 2023 · Assembly

    Report of Joint Survey Committee on Tax Exemptions received, Ayes 9, Noes 0

  14. Oct 17, 2023 · Assembly

    Representative Steffen added as a coauthor

  15. Oct 17, 2023 · Assembly

    Read a second time

  16. Oct 17, 2023 · Assembly

    Assembly Substitute Amendment 1 adopted

  17. Oct 17, 2023 · Assembly

    Ordered to a third reading

  18. Oct 17, 2023 · Assembly

    Rules suspended

  19. Oct 17, 2023 · Assembly

    Read a third time and passed, Ayes 97, Noes 0

  20. Oct 17, 2023 · Assembly

    Ordered immediately messaged

  21. Oct 17, 2023 · Senate

    Received from Assembly

  22. Oct 17, 2023 · Senate

    Available for scheduling

  23. Oct 17, 2023 · Senate

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

  24. Oct 17, 2023 · Senate

    Placed on calendar 10-17-2023 pursuant to Senate Rule 18(1)

  25. Oct 17, 2023 · Senate

    Senate Amendment 1 offered by Senators Roys, Larson, Smith, Agard, Carpenter, Hesselbein, L. Johnson, Pfaff, Spreitzer, Taylor and Wirch

  26. Oct 17, 2023 · Senate

    Read a second time

  27. Oct 17, 2023 · Senate

    Senate Amendment 1 rejected, Ayes 22, Noes 10

  28. Oct 17, 2023 · Senate

    Ordered to a third reading

  29. Oct 17, 2023 · Senate

    Rules suspended to give bill its third reading

  30. Oct 17, 2023 · Senate

    Read a third time and concurred in, Ayes 32, Noes 0

  31. Oct 17, 2023 · Senate

    Ordered immediately messaged

  32. Oct 18, 2023 · Assembly

    Received from Senate concurred in

  33. Oct 19, 2023 · Assembly

    LRB correction (Assembly Substitute Amendment 1)

  34. Oct 19, 2023 · Assembly

    Report correctly enrolled on 10-19-2023

  35. Oct 23, 2023 · Assembly

    Presented to the Governor on 10-23-2023

  36. Oct 26, 2023 · Assembly

    Report approved by the Governor on 10-25-2023. 2023 Wisconsin Act 36

  37. Oct 26, 2023 · Assembly

    Published 10-26-2023