2023-2024 Regular SessionWisconsin Legislature

SB435: Lowering the individual income tax rates in the third bracket and increasing and expanding the retirement income subtraction. (FE)

Legislative Summary

An Act to amend 71.05 (1) (am), 71.05 (1) (an), 71.05 (6) (b) 4. (intro.), 71.05 (6) (b) 54. (intro.), 71.06 (1q) (c), 71.06 (2) (i) 3., 71.06 (2) (j) 3. and 71.83 (1) (a) 6.; and to create 71.05 (6) (b) 54m. and 71.05 (6) (b) 54mn. of the statutes; Relating to: lowering the individual income tax rates in the third bracket and increasing and expanding the retirement income subtraction. (FE)

Demographic Impact

Overall analysis of equity impact

70% Positive
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Bill History

9/20/2023
Introduced
Senate
9/20/2023
Read first time and referred to Committee on Universities and Revenue
Senate
9/26/2023
Public hearing held
Senate
10/3/2023
Fiscal estimate received
Senate
10/10/2023
Executive action taken
Senate
10/11/2023
Report passage recommended by Committee on Universities and Revenue, Ayes 5, Noes 3
Senate
10/11/2023
Available for scheduling
Senate
4/15/2024
Failed to pass pursuant to Senate Joint Resolution 1
Senate

Status Information

Current Status
Failed(4/15/2024)
Chamber
Senate

Documents

Introduced
Bill Text9/20/202355.9 KB
Fiscal Note
Fiscal Note1/1/1970314.5 KB
Misc
Misc1/1/1970192.3 KB
Misc
Misc1/1/1970175.6 KB