An Act to amend 71.10 (4) (i); to create 20.835 (2) (er) and 71.07 (8w) of the statutes; Relating to: a refundable income tax credit for bicycle purchases and making an appropriation. (FE)
Summary
SB344 creates a refundable Wisconsin income tax credit for the purchase of bicycles, including electric bicycles, for a taxpayer’s dependents. The credit equals the amount paid for each bicycle, up to $200 per dependent, and is available only to claimants whose family income does not exceed 200 percent of the federal poverty line. The bill applies to taxable years beginning after December 31, 2024.
To claim the credit, taxpayers must file the required documentation with their return showing the bicycle purchase price. If the credit exceeds the taxpayer’s income tax liability, the unused amount is paid out as a refund from a newly created appropriation. The bill also amends the state’s income tax credit ordering statute to include the new bicycle credit among the credits that may offset tax liability.
Impact
The bill would create new sections in the Wisconsin statutes establishing both the bicycle credit and a dedicated appropriation to fund refundable payments. It would affect administration by the Department of Revenue and Department of Administration, require documentation of bicycle purchase costs, and add the credit to the list of credits applied in the state income tax calculation. The measure would primarily benefit low-income families purchasing bicycles for dependents, while also expanding state spending through refundable tax outlays.
Sentiment
Based on the available record, the bill appears to have been introduced with a broad set of Democratic legislative sponsors and cosponsors, suggesting support among its authors for using the tax code to encourage bicycle access and reduce transportation costs for low-income households. No committee transcript or recorded vote is available in the provided materials, so there is no direct evidence of debate or opposition in the record. The bill ultimately failed to pass pursuant to Senate Joint Resolution 1.
Contention
The main likely points of contention are the use of state revenue for a refundable tax credit, the income eligibility cutoff, and whether bicycles should be subsidized through the tax code rather than through a direct program. Another possible issue is administrative verification of purchase prices and the inclusion of electric bicycles, which may raise questions about program scope and cost. Because no hearing transcript or vote details are provided, specific objections by legislators or stakeholders cannot be identified from the record.
Crossfiled
An Act to amend 71.10 (4) (i); to create 20.835 (2) (er) and 71.07 (8w) of the statutes; Relating to: a refundable income tax credit for bicycle purchases and making an appropriation. (FE)