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AB494: Bill Text
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2025 - 2026 LEGISLATURE
LRB-4642/2
KP:cdc
2025 ASSEMBLY BILL 494
October 9, 2025 - Introduced by Representatives
Callahan
,
Armstrong
,
Born
,
Knodl
,
Melotik
,
Swearingen
,
Wittke
,
Zimmerman
,
Dittrich
,
B. Jacobson
,
Kreibich
,
Murphy
,
Mursau
,
Penterman
,
Piwowarczyk
,
Steffen
,
Subeck
and
Kitchens
, cosponsored by Senators
Feyen
,
Habush Sinykin
,
Felzkowski
and
Wanggaard
. Referred to Committee on Ways and Means.
AB494,2,3
1
An Act
to repeal
71.28 (5b) (d) 1. and 71.47 (5b) (d) 1.;
to renumber and
2
amend
71.07 (4n) (d) and 71.28 (5) (b);
to amend
71.07 (2dm) (h), 71.07 (2dx)
3
(e) 1., 71.07 (2dy) (d) 1., 71.07 (3g) (c), 71.07 (3h) (d) 1., 71.07 (3n) (f), 71.07 (4k)
4
(e) 2. b., 71.07 (5b) (d) 1., 71.07 (5d) (d) 2., 71.07 (5g) (d) 1., 71.07 (5i) (d), 71.07
5
(5j) (d) 1., 71.07 (5k) (d), 71.07 (5n) (d) 1., 71.07 (5r) (d) 1., 71.07 (5rm) (d) 1.,
6
71.07 (6n) (d) 1., 71.07 (8b) (e), 71.07 (9m) (e), 71.07 (9r) (g), 71.07 (10) (d),
7
71.28 (1dm) (h), 71.28 (1dx) (e) 1., 71.28 (1dy) (d) 1., 71.28 (3g) (c), 71.28 (3h)
8
(d) 1., 71.28 (3n) (f), 71.28 (4) (f), 71.28 (4) (k) 2., 71.28 (5g) (d) 1., 71.28 (5i) (d),
9
71.28 (5j) (d) 1., 71.28 (5k) (d), 71.28 (5n) (d) 1., 71.28 (5r) (d) 1., 71.28 (5rm) (d)
10
1., 71.28 (6) (e), 71.28 (6n) (d) 1., 71.28 (8b) (e), 71.28 (10) (d), 71.47 (1dm) (h),
11
71.47 (1dx) (e) 1., 71.47 (1dy) (d) 1., 71.47 (3g) (c), 71.47 (3h) (d) 1., 71.47 (3n)
12
(f), 71.47 (4) (f), 71.47 (4) (k) 2., 71.47 (5g) (d) 1., 71.47 (5i) (d), 71.47 (5j) (d) 1.,
13
71.47 (5k) (d), 71.47 (5r) (d) 1., 71.47 (5rm) (d) 1., 71.47 (6) (e), 71.47 (6n) (d) 1.,
14
71.47 (8b) (e) and 71.47 (10) (d);
to create
71.07 (4n) (d) 2., 71.28 (5) (b) 2.,
1
71.28 (5b) (e), 71.28 (5b) (f), 71.28 (5b) (g), 71.28 (5b) (h), 71.47 (5b) (e), 71.47
2
(5b) (f), 71.47 (5b) (g) and 71.47 (5b) (h) of the statutes;
relating to:
increasing
3
the carryover period of the research income tax credit.
Analysis by the Legislative Reference Bureau
This bill allows claimants of the research income and franchise tax credit to carry over unused research credits for 50 years until they are used to offset tax liability in future years. Under current law, claimants may carry over unused research credits for the following 15 years after the credit is initially claimed. Under current law, the research credit is an income and franchise tax credit equal to a specified percentage of a person’s qualified research expenses that exceed 50 percent of the person’s average qualified research expenses for the three tax years immediately preceding the tax year for which the person claims the credit.
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:
AB494,1
4
Section
1
.
71.07 (2dm) (h) of the statutes is amended to read:
AB494,2,6
5
71.07
(2dm)
(h) The carry-over provisions of s. 71.28
(4)
(5b)
(e) and (f) as they
6
relate to the credit under s. 71.28
(4)
(5b)
relate to the credit under this subsection.
AB494,2
7
Section
2
.
71.07 (2dx) (e) 1. of the statutes is amended to read:
AB494,2,11
8
71.07
(2dx)
(e) 1. Section 71.28
(4)
(5b)
(e) to (h), as it applies to the credit
9
under s. 71.28
(4)
(5b)
, applies to the credit under this subsection. Claimants shall
10
include with their returns a copy of their certification for tax benefits and a copy of
11
the department of commerce’s verification of their expenses.
AB494,3
12
Section
3
.
71.07 (2dy) (d) 1. of the statutes is amended to read:
AB494,2,15
13
71.07
(2dy)
(d) 1. Except as provided in subd. 2., s. 71.28
(4)
(5b)
(e) and (f), as
14
it applies to the credit under s. 71.28
(4)
(5b)
, applies to the credit under this
15
subsection.
AB494,4
1
Section
4
.
71.07 (3g) (c) of the statutes is amended to read:
AB494,3,3
2
71.07
(3g)
(c) Section 71.28
(4)
(5b)
(e), (f), (g), and (h), as it applies to the
3
credit under s. 71.28
(4)
(5b)
, applies to the credit under par. (a).
AB494,5
4
Section
5
.
71.07 (3h) (d) 1. of the statutes is amended to read:
AB494,3,6
5
71.07
(3h)
(d) 1. Section 71.28
(4)
(5b)
(e) to (h) as it applies to the credit under
6
s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,6
7
Section
6
.
71.07 (3n) (f) of the statutes is amended to read:
AB494,3,9
8
71.07
(3n)
(f) Section 71.28
(4)
(5b)
(e), (f), (g), and (h), as it applies to the
9
credit under s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,7
10
Section
7
.
71.07 (4k) (e) 2. b. of the statutes is amended to read:
AB494,3,16
11
71.07
(4k)
(e) 2. b. The amount of the claim not used to offset the tax due and
12
not certified for payment under subd. 2. a. or 2. ad. may be carried forward and
13
credited against Wisconsin income taxes otherwise due for the following
15
50
14
taxable years to the extent not offset by these taxes otherwise due in all intervening
15
years between the year in which the expense was incurred and the year in which the
16
carry-forward credit is claimed.
AB494,8
17
Section
8
.
71.07 (4n) (d) of the statutes is renumbered 71.07 (4n) (d) 1. and
18
amended to read:
AB494,3,20
19
71.07
(4n)
(d) 1. Section 71.28 (4) (b) to
(e), (g), and
(h), as it applies to the
20
credit under s. 71.28 (4), applies to the credits under this subsection.
AB494,9
21
Section
9
.
71.07 (4n) (d) 2. of the statutes is created to read:
AB494,3,23
22
71.07
(4n)
(d) 2. Section 71.28 (5b) (f), as it applies to the credit under s. 71.28
23
(5b), applies to the credit under this subsection.
AB494,10
24
Section
10
.
71.07 (5b) (d) 1. of the statutes is amended to read:
AB494,4,2
1
71.07
(5b)
(d) 1. Section 71.28
(4)
(5b)
(e) to (h), as it applies to the credit
2
under s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,11
3
Section
11
.
71.07 (5d) (d) 2. of the statutes is amended to read:
AB494,4,5
4
71.07
(5d)
(d) 2. Section 71.28
(4)
(5b)
(e) to (h), as it applies to the credit
5
under s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,12
6
Section
12
.
71.07 (5g) (d) 1. of the statutes is amended to read:
AB494,4,8
7
71.07
(5g)
(d) 1. Section 71.28
(4)
(5b)
(e) to (h), as it applies to the credit
8
under s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,13
9
Section
13
.
71.07 (5i) (d) of the statutes is amended to read:
AB494,4,11
10
71.07
(5i)
(d)
Administration.
Section 71.28
(4)
(5b)
(e) to (h), as it applies to
11
the credit under s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,14
12
Section
14
.
71.07 (5j) (d) 1. of the statutes is amended to read:
AB494,4,14
13
71.07
(5j)
(d) 1. Section 71.28
(4)
(5b)
(e) to (h), as it applies to the credit under
14
s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,15
15
Section
15
.
71.07 (5k) (d) of the statutes is amended to read:
AB494,4,17
16
71.07
(5k)
(d)
Administration.
Section 71.28
(4)
(5b)
(e) to (h), as it applies to
17
the credit under s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,16
18
Section
16
.
71.07 (5n) (d) 1. of the statutes is amended to read:
AB494,4,20
19
71.07
(5n)
(d) 1. Section 71.28
(4)
(5b)
(e) to (h), as it applies to the credit
20
under s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,17
21
Section
17
.
71.07 (5r) (d) 1. of the statutes is amended to read:
AB494,4,23
22
71.07
(5r)
(d) 1. Section 71.28
(4)
(5b)
(e) to (h), as it applies to the credit
23
under s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,18
24
Section
18
.
71.07 (5rm) (d) 1. of the statutes is amended to read:
AB494,5,2
1
71.07
(5rm)
(d) 1. Section 71.28
(4)
(5b)
(e) to (h), as it applies to the credit
2
under s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,19
3
Section
19
.
71.07 (6n) (d) 1. of the statutes is amended to read:
AB494,5,5
4
71.07
(6n)
(d) 1. Section 71.28
(4)
(5b)
(e) to (h), as it applies to the credit
5
under s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,20
6
Section
20
.
71.07 (8b) (e) of the statutes is amended to read:
AB494,5,8
7
71.07
(8b)
(e)
Administration.
Section 71.28
(4)
(5b)
(e) to (h), as it applies to
8
the credit under s. 71.28
(4)
(5b)
, applies to the credit under this subsection.
AB494,21
9
Section
21
.
71.07 (9m) (e) of the statutes is amended to read:
AB494,5,11
10
71.07
(9m)
(e) The provisions of s. 71.28
(4)
(5b)
(e), (f), (g) and (h), as they
11
apply to the credit under s. 71.28
(4)
(5b)
, apply to the credit under this subsection.
AB494,22
12
Section
22
.
71.07 (9r) (g) of the statutes is amended to read:
AB494,5,14
13
71.07
(9r)
(g) The provisions of s. 71.28
(4)
(5b)
(f), (g) and (h), as they apply to
14
the credit under s. 71.28
(4)
(5b)
, apply to the credit under this subsection.
AB494,23
15
Section
23
.
71.07 (10) (d) of the statutes is amended to read:
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