Skip to content
Bills from the 2025–26 session

Assembly Bill 685

Individual income tax subtraction for certain theft losses. (FE)

Topics: Crime and criminals, Income tax: Deduction, Legislature: Tax Exemptions, Joint Survey Committee on

Became law

The governor signed it on Apr 3, 2026. It's ⁠.

  1. Introduced, passed

    Nov 26, 2025

  2. Committee, passed

    Approved

  3. Assembly vote, passed

    Passed Feb 17, 2026

  4. Senate vote, passed

    Passed 33 to 0

  5. Governor, passed

    Signed

  6. Law, here now

    2025 Wisconsin Act 192

Latest entry in the official record, Apr 3, 2026: “Published 4-4-2026”

Read the bill

Following saves it on this device. New actions show on your Following page. You can also get updates in a feed reader.

Embed this on your site

Paste this code into your page. The card shows the latest record each time it loads. Preview the card

The same bill was also filed in the Senate as SB 674. That version died when the session ended.

What it does

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

This bill allows taxpayers to subtract certain theft losses when calculating their income for individual income tax purposes, beginning with taxable year 2024.

Under the bill, a taxpayer may subtract a theft loss if the loss is deductible in the taxable year as an itemized deduction under federal law, regardless of whether the individual claims the federal deduction. Under federal law, the deduction is limited to losses that are related to a profit-seeking activity or connected to a federally declared disaster (or, beginning next year, a state declared disaster). Federal law imposes additional conditions, including that there be no reasonable chance of recovering the money or property, and generally provides that a theft loss is claimed in the year in which the taxpayer discovers the loss.

Read the full summary

The bill also provides that taxpayers who make the subtraction under the bill may not include the theft loss in the amount used to claim the itemized deductions tax credit. Under current law, that credit is based on the amount of specified itemized deductions a taxpayer is eligible to claim for federal tax purposes.

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

Rob Swearingen, a Republican, is its ⁠.

5 more lawmakers ⁠.

See all 6 names

Author (1)

Signed on in support (5)

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 7 votes on this bill.

Assembly Committee on Ways and Means vote on an amendment

Passed, 10 to 0 · Feb 4, 2026

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

Official motion: “Report Assembly Substitute Amendment 1 adoption recommended by Committee on Ways and Means, Ayes 10, Noes 0”. Official record · This vote on its own page

Assembly Committee on Ways and Means vote to recommend it

Passed, 10 to 0 · Feb 4, 2026

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 Ways and Means, Ayes 10, Noes 0”. Official record · This vote on its own page

Assembly vote

Passed, 9 to 0 · Feb 10, 2026

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

Official motion: “Report of Joint Survey Committee on Tax Exemptions received, Ayes 9, Noes 0”. Official record · This vote on its own page

Assembly vote to pass it

Passed, 99 to 0 · Feb 17, 2026

See how each of the 99 representatives voted

D: Democrat, R: Republican

Yes (99)

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

Joint Committee on Finance vote to recommend it

Passed, 16 to 0 · Mar 3, 2026

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 16, Noes 0”. Official record · This vote on its own page

Senate vote

Passed, 3 to 2 · Mar 16, 2026

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 3, Noes 2”. Official record · This vote on its own page

Senate vote to pass it

Passed, 33 to 0 · Mar 17, 2026

See how each of the 33 senators voted

D: Democrat, R: Republican

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

What happened

  1. Apr 3, 2026

    The new law was published.

  2. Apr 3, 2026

    The governor signed it. It became 2025 Wisconsin Act 192.

  3. Apr 2, 2026

    Sent to the governor.

  4. Mar 17, 2026

    1 more senator signed on in support.

  5. Mar 17, 2026

    The Senate passed it too, 33 to 0.

  6. Mar 16, 2026

    “Public hearing requirement waived by committee on Senate Organization, pursuant to Senate Rule 18 (1m), Ayes 3, Noes 2” (the official wording)

  7. Mar 3, 2026

    The committee voted to recommend passing it, 16 to 0.

  8. Feb 27, 2026

    Sent to the Joint Committee on Finance.

  9. Feb 20, 2026

    Sent to the Senate Committee on Senate Organization.

  10. Feb 18, 2026

    The Senate received it.

  11. Feb 17, 2026

    The Assembly passed it, 99 to 0.

  12. Feb 17, 2026

    The Assembly adopted it.

  13. Feb 12, 2026 to Feb 16, 2026

    2 more representatives signed on in support.

  14. Feb 10, 2026

    “Report of Joint Survey Committee on Tax Exemptions received, Ayes 9, Noes 0” (the official wording)

  15. Feb 6, 2026

    1 more senator signed on in support.

  16. Feb 6, 2026

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

  17. Feb 4, 2026

    Sent to the Assembly Committee on Rules.

  18. Feb 4, 2026

    The committee voted to recommend passing it, 10 to 0.

  19. Jan 21, 2026

    The committee held a public hearing.

  20. Dec 19, 2025

    A state agency sent in its estimate of the cost.

  21. Nov 26, 2025

    Sent to the Assembly Committee on Ways and Means.

  22. Nov 26, 2025

    Introduced in the Assembly.

See the official record, word for word
  1. Nov 26, 2025 · Assembly

    Introduced by Representative Swearingen; cosponsored by Senator Felzkowski

  2. Nov 26, 2025 · Assembly

    Read first time and referred to Committee on Ways and Means

  3. Dec 19, 2025 · Assembly

    Fiscal estimate received

  4. Jan 12, 2026 · Assembly

    Assembly Substitute Amendment 1 offered by Representative Swearingen

  5. Jan 21, 2026 · Assembly

    Public hearing held

  6. Feb 4, 2026 · Assembly

    Executive action taken

  7. Feb 4, 2026 · Assembly

    Report Assembly Substitute Amendment 1 adoption recommended by Committee on Ways and Means, Ayes 10, Noes 0

  8. Feb 4, 2026 · Assembly

    Report passage as amended recommended by Committee on Ways and Means, Ayes 10, Noes 0

  9. Feb 4, 2026 · Assembly

    Referred to committee on Rules

  10. Feb 4, 2026 · Assembly

    Assembly Amendment 1 to Assembly Substitute Amendment 1 offered by Representative Swearingen

  11. Feb 4, 2026 · Assembly

    Assembly Substitute Amendment 2 offered by Representative Swearingen

  12. Feb 6, 2026 · Assembly

    Referred to joint survey committee on Tax Exemptions pursuant to Assembly Rule 45 (4)

  13. Feb 6, 2026 · Assembly

    Senator Spreitzer added as a cosponsor

  14. Feb 9, 2026 · Assembly

    Executive action taken by joint survey committee on Tax Exemptions

  15. Feb 10, 2026 · Assembly

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

  16. Feb 12, 2026 · Assembly

    Representative Snyder added as a coauthor

  17. Feb 13, 2026 · Assembly

    Withdrawn from Committee on Rules and referred to calendar of 2-17-2026

  18. Feb 16, 2026 · Assembly

    Representative Ortiz-Velez added as a coauthor

  19. Feb 17, 2026 · Assembly

    Read a second time

  20. Feb 17, 2026 · Assembly

    Assembly Substitute Amendment 2 adopted

  21. Feb 17, 2026 · Assembly

    Ordered to a third reading

  22. Feb 17, 2026 · Assembly

    Rules suspended

  23. Feb 17, 2026 · Assembly

    Read a third time and passed, Ayes 99, Noes 0

  24. Feb 17, 2026 · Assembly

    Ordered immediately messaged

  25. Feb 18, 2026 · Senate

    Received from Assembly

  26. Feb 20, 2026 · Senate

    Read first time and referred to committee on Senate Organization

  27. Feb 20, 2026 · Senate

    Available for scheduling

  28. Feb 27, 2026 · Senate

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

  29. Mar 3, 2026 · Senate

    Executive action taken

  30. Mar 3, 2026 · Senate

    Report concurrence recommended by Joint Committee on Finance, Ayes 16, Noes 0

  31. Mar 3, 2026 · Senate

    Available for scheduling

  32. Mar 16, 2026 · Senate

    Public hearing requirement waived by committee on Senate Organization, pursuant to Senate Rule 18 (1m), Ayes 3, Noes 2

  33. Mar 16, 2026 · Senate

    Placed on calendar 3-17-2026 pursuant to Senate Rule 18(1)

  34. Mar 17, 2026 · Senate

    Read a second time

  35. Mar 17, 2026 · Senate

    Ordered to a third reading

  36. Mar 17, 2026 · Senate

    Rules suspended to give bill its third reading

  37. Mar 17, 2026 · Senate

    Read a third time and concurred in, Ayes 33, Noes 0

  38. Mar 17, 2026 · Senate

    Senator Smith added as a cosponsor

  39. Mar 17, 2026 · Senate

    Ordered immediately messaged

  40. Mar 18, 2026 · Assembly

    Received from Senate concurred in

  41. Mar 23, 2026 · Assembly

    Report correctly enrolled on 3-23-2026

  42. Apr 2, 2026 · Assembly

    Presented to the Governor on 4-2-2026

  43. Apr 3, 2026 · Assembly

    Report approved by the Governor on 4-3-2026. 2025 Wisconsin Act 192

  44. Apr 3, 2026 · Assembly

    Published 4-4-2026

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