LRB-2255/1
MES:jld:pg
2007 - 2008 LEGISLATURE
March 11, 2008 - Introduced by Representatives Davis, Gunderson, Musser, A. Ott
and Townsend, cosponsored by Senators Schultz, Darling and Roessler.
Referred to Committee on Ways and Means.
AB953,1,4
1An Act to create 71.07 (6f) and 71.10 (4) (cf) of the statutes;
relating to: a
2nonrefundable individual income tax credit for certain income received by a
3volunteer fire fighter, volunteer first responder, or volunteer emergency
4medical technician.
Analysis by the Legislative Reference Bureau
This bill creates a nonrefundable individual income tax credit for income
received by a volunteer fire fighter, volunteer first responder, or volunteer emergency
medical technician (EMT), to the extent that the income relates to the individual's
service as a volunteer fire fighter, volunteer first responder, or EMT, multiplied by
the claimant's marginal tax rate. Because the credit is nonrefundable, it may be
claimed only up to the amount of a claimant's income tax liability. For claimants who
are nonresidents or part-year residents of Wisconsin, the credit that may be claimed
is prorated based on the ratio of the claimant's Wisconsin adjusted gross income
(AGI) to federal AGI.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB953, s. 1
5Section
1. 71.07 (6f) of the statutes is created to read:
AB953,2,2
171.07
(6f) Volunteer emergency personnel tax credit. (a)
Definitions. In this
2subsection:
AB953,2,63
1. "Claimant" means a volunteer fire fighter; a volunteer first responder, as
4that term is defined in s. 146.50 (1) (hm); or a volunteer emergency medical
5technician, as that term is defined in s. 146.50 (1) (e), who claims a credit under this
6subsection.
AB953,2,107
2. "Income" means income received by a claimant that relates to the
8individual's service as a volunteer fire fighter, volunteer first responder, or volunteer
9emergency medical technician in the year to which the claim relates and is included
10in Wisconsin adjusted gross income.
AB953,2,1411
(b)
Filing claims. Subject to the limitations provided in this subsection, a
12claimant may claim as a credit against the tax imposed under s. 71.02, up to the
13amount of those taxes, an amount equal to the claimant's income, multiplied by the
14claimant's marginal tax rate.
AB953,2,1615
(c)
Limitations. 1. No credit may be allowed under this subsection unless it
16is claimed within the time period under s. 71.75 (2).
AB953,3,217
2. A claimant who is a nonresident or part-year resident of this state and who
18is a single person or a married person filing a separate return shall multiply the
19credit for which the claimant is eligible under par. (b) by a fraction the numerator of
20which is the claimant's Wisconsin adjusted gross income and the denominator of
21which is the claimant's federal adjusted gross income. If a claimant is married and
22files a joint return, and if the claimant or the claimant's spouse, or both, are
23nonresidents or part-year residents of this state, the claimant shall multiply the
24credit for which the claimant is eligible under par. (b) by a fraction the numerator of
1which is the couple's joint Wisconsin adjusted gross income and the denominator of
2which is the couple's joint federal adjusted gross income.
AB953,3,43
(d)
Administration. Subsection (9e) (d), to the extent that it applies to the credit
4under that subsection, applies to the credit under this subsection.
AB953, s. 2
5Section
2. 71.10 (4) (cf) of the statutes is created to read:
AB953,3,66
71.10
(4) (cf) The volunteer emergency personnel tax credit under s. 71.07 (6f).
AB953,3,118
(1) This act first applies to taxable years beginning on January 1 of the year
9in which this subsection takes effect, except that if this subsection takes effect after
10July 31 this act first applies to taxable years beginning on January 1 of the year
11following the year in which this subsection takes effect.
