Agriculture and Revenue

This bill would prevent foreign governments or entities hostile to the U.S. from purchasing agricultural or forestry land within the state. It directly affects potential foreign buyers and landowners by prohibiting such acquisitions of farmland or forest land. The key provision bans transactions involving designated "foreign adversaries" and applies to all agricultural or forestry land, including leases or long-term agreements. The bill is currently under review by the Agriculture and Revenue Committee following a public hearing.

SB 36 creates a state income tax exemption for cash tips received by employees, directly benefiting service industry workers (like servers or bartenders) who report cash tips to their employers. The bill allows taxpayers to subtract up to $25,000 in qualified tips from their taxable income each year, provided the tips are reported via federal tax forms (like those used for IRS Form 1099-NEC). This exemption phases out for higher earners: single filers see reductions when their modified adjusted gross income exceeds $150,000, while joint filers face reductions above $300,000. To claim the exemption, filers must include their Social Security number and, for married couples, file a joint return.

SB 379 creates a $2,000 refundable individual income tax credit for Wisconsin parents who experience a stillbirth (defined as a birth requiring a fetal death report under state law). The credit applies to the taxable year of the stillbirth and is refundable, meaning parents who owe less in taxes than $2,000 will receive the difference as a cash payment from the state. Eligibility requires being a Wisconsin resident filing a joint or separate return, with specific limits: $2,000 total for married couples filing jointly, $1,000 each for unmarried parents or separate returns. Proof of eligibility, such as a fetal death report, must be submitted with the tax return.

This bill creates a state tax credit for individuals who purchase subscriptions to qualifying local newspapers, which are defined as newspapers eligible to print legal notices. The credit allows taxpayers to claim 50 percent of their subscription costs as a credit against their state income tax, with a maximum benefit of $250 per year or $125 for married individuals filing separate returns. To use the credit, taxpayers must file a claim within the standard tax filing period for the year in which they paid for the subscriptions. The legislation applies to taxable years beginning after December 31, 2024, and follows existing administrative procedures for similar tax credits.

SB 748 removes the requirement for sellers to obtain exemption certificates from buyers when selling precious metal bullion. This change directly affects retailers selling bullion and simplifies the sales process by eliminating an administrative step for transactions already exempt from sales tax under existing law. The bill amends tax statutes to clarify that no certificate is needed for these specific exempt sales, streamlining compliance without altering the tax status of bullion purchases.