Wisconsin Legislature: 2003 Wisconsin Act 289

Date of enactment: April 20, 2004
2003 Assembly Bill 209 Date of publication*: May 4, 2004

* Section 991.11, Wisconsin Statutes 2001-02 : Effective date of acts. "Every act and every portion of an act enacted by the legislature over the governor's partial veto which does not expressly prescribe the time when it takes effect shall take effect on the day after its date of publication as designated" by the secretary of state [the date of publication may not be more than 10 working days after the date of enactment].

2003 WISCONSIN ACT 289

An Act to amend 71.05 (6) (b) 32. (intro.) and 71.05 (6) (b) 33. (intro.) of the statutes; relating to: allowing an individual income tax deduction for certain amounts contributed by a great-grandparent, aunt, or uncle to a college savings account or a college tuition and expenses program.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

289,1 Section 1. 71.05 (6) (b) 32. (intro.) of the statutes is amended to read:

71.05 (6) (b) 32. (intro.) An amount paid into a college savings account, as described in s. 14.64, if the beneficiary of the account either is one of the following: the claimant; is the claimant's child and the claimant's dependent who is claimed under section 151 (c) of the Internal Revenue Code; or is the claimant's grandchild; the claimant's great-grandchild; or the claimant's niece or nephew; calculated as follows:

289,2 Section 2. 71.05 (6) (b) 33. (intro.) of the statutes is amended to read:

71.05 (6) (b) 33. (intro.) An amount paid into a college tuition and expenses program, as described in s. 14.63, if the beneficiary of the account either is one of the following: the claimant; is the claimant's child and the claimant's dependent who is claimed under section 151 (c) of the Internal Revenue Code; or is the claimant's grandchild; the claimant's great-grandchild; or the claimant's niece or nephew; calculated as follows:

289,3 Section 3. Initial applicability.

(1) This act first applies to taxable years beginning on January 1 of the year in which this subsection takes effect, except that if this subsection takes effect after July 31, this act first applies to taxable years beginning on January 1 of the year following the year in which this subsection takes effect.