Wisconsin Assembly Bill AB264

Wisconsin 2025-2026 Regular Session

• Introduced: 5/19/25
• Refer: 5/19/25
• Failed: 3/23/26

Caption

An Act to amend 71.07 (6e) (c) 2. of the statutes; Relating to: certain limitations on claiming the veterans and surviving spouses property tax credit. (FE)

Summary

AB264 would change Wisconsin income tax law to allow a taxpayer to claim the farmland preservation tax credit and the veterans and surviving spouses property tax credit in the same tax year. Under current law, claiming the farmland preservation credit blocks a person from also claiming the veterans and surviving spouses credit for that year. The bill removes that restriction by amending the statute governing the veterans and surviving spouses property tax credit. The bill applies beginning with taxable years starting January 1, 2025. Its practical effect would be to expand eligibility for taxpayers who qualify for both credits, especially veterans or surviving spouses who also own or use land eligible for the farmland preservation credit. The bill does not create a new credit; it changes the interaction between two existing credits so they may be claimed together.

Impact

AB264 would amend s. 71.07 (6e) (c) 2. of the Wisconsin statutes, altering the limitation that currently prevents a claimant from receiving the veterans and surviving spouses property tax credit in the same tax year as certain other credits. By removing the cross-credit prohibition for the farmland preservation tax credit, the bill would reduce a restriction in state tax law and potentially increase refundable income tax credit claims for eligible taxpayers. The change would apply to taxable years beginning on January 1, 2025.

Sentiment

The available context suggests the bill was generally favorable in concept, with bipartisan introduction by multiple Assembly members and Senate cosponsors. However, there is no committee transcript or recorded vote information provided, and the bill ultimately failed to pass pursuant to Senate Joint Resolution 1. Based on the text alone, the measure appears to have been a targeted tax-relief or tax-administration change rather than a broadly controversial proposal.

Contention

The main policy issue is whether taxpayers should be allowed to stack the farmland preservation tax credit with the veterans and surviving spouses property tax credit in the same year. Supporters would likely view the bill as a fairness and relief measure for eligible veterans, surviving spouses, and agricultural landowners, while any opposition would likely focus on the fiscal cost of allowing both credits to be claimed together and the resulting reduction in state revenue. No specific objections or named opponents are included in the provided materials.