Wisconsin 2025 Regular Session Status: To Executive 5 R cosponsors

AB 676 — Relating to: creating a tax credit for insurers for certain investments in community development entities. (FE)

Last action — Published 4-4-2026

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Assembly
  4. ✓
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been sent to the executive. Introduced November 19, 2025. It awaits signature.

Next likely step: the executive signs it into law or issues a veto.

Prognosis

Likely to advance 74% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • To Executive

    Current position in the legislative process.

  • 7 sponsors

    1 primary, 6 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (5 R).

  • Cleared a recorded vote

    Passed 7 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

An Act to amend 76.67 (2); to create 76.633 of the statutes;

Bill Text

What changed in the latest version

454 added · 95 removed

Plain-language change summary

In the amendments to Assembly Bill 676, a tax credit for insurers who invest in community development entities has been clarified and defined. The bill now specifies that insurers can earn a credit against state taxes for investments used to support businesses operating in low-income areas, starting at 0% for the first two years and increasing to 10% in the following five years. This change matters because it aims to encourage more investment in underserved communities, potentially creating jobs and boosting the local economy.

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- 2026 LEGISLATURE LRBa0759/1 KP:skw ASSEMBLY AMENDMENT 1, TO ASSEMBLY BILL 676 January 7, 2026 - Offered by RepresentatIMMERMAN .
- 2026 LEGISLATURE LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 November 19, 2025 - Introduced by Representatives Z IMMERMAN , ARMSTRONG , BEHNKE , KREIBICH and M URPHY, cosponsored by Senators M ARKLEIN and JAMES .
At the locations indicated, amend the bill as follows:
Referred to Committee on Ways and Means.
A N A CT to amend 76.67 (2);
to create 76.633 of the statutes;
relating to:
creating a tax credit for insurers for certain investments in community development entities.
Analysis by the Legislative Reference Bureau Under this bill, an insurer that makes a qualified equity investment in a qualified community development entity may receive a credit against the state taxes imposed on insurers.
In order for the insurer to claim the credit, a qualified community development entity must use the capital raised from the insurer’s qualified equity investment to make investments in or loans to qualified active low- income community businesses that have their principal business operations in this state.
The credit is equal to zero percent of the insurer’s qualified equity investment for the first and second year after the issuance of the investment, and 10 percent of the qualified equity investment for the next five years.
The bill defines “qualified community development entity” as generally an entity that has the primary mission of serving or providing investment capital for low-income communities or low-income persons and that has low-income persons represented on a governing or advisory board of the entity.
The bill defines a “qualified active low-income community business” as generally an entity that 1) receives at least 50 percent of its gross income from certain business conducted within a low-income community;
2) uses a substantial portion of its tangible property within a low- income community;
3) performs a substantial portion of its services within a low- - 2026 Legislature - 2 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 S ECTION 1 income community;
4) has less than 5 percent of its property attributable to debt collection;
and 5) receives less than 15 percent of its revenue from the rental or sale of real estate.
Under the bill, qualified community development entities must apply to the Department of Revenue for authority to issue qualified equity investments to insurers.
DOR may approve up to a total of $125,000,000 in qualified equity investment authority for investment in qualified active low-income community businesses in rural counties and up to a total of $125,000,000 in such authority for investments in such businesses in metro counties.
Also, DOR may approve an amount of qualified equity investment that generates no more than $25,000,000 in total credits per tax year.
Under the bill, DOR may recapture credits from insurers if 1) the qualified community development entity receiving capital from qualified equity investments fails to use all of the capital to make investments in or loans to qualified active low-income community businesses;
2) if the qualified community development entity redeems or makes principal payment with respect to the qualified equity investment before the seventh anniversary of issuance of the investment;
or 3) if any amount of the federal new markets tax credit that is available for a qualified equity investment is rescinded.
Each qualified community development entity that is authorized to issue qualified equity investments under the bill must submit an annual report to DOR containing various information regarding the qualified low-income community investments made, including employment information for the qualified active low-income community businesses invested in the entity.
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:
S ECTION 1.
76.633 of the statutes is created to read:
76.633 Community development entity investment credit.
(1) D EFINITIONS .
In this section:
(a) “Applicable percentage” means 0 percent for the first 2 credit allowance dates and 10 percent for the next 5 credit allowance dates.
(b) “CDFI fund” means the community development financial institutions fund of the U.S.
treasury department.
- 2026 Legislature - 3 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 S ECTION 1 (c) “Credit allowance date” means, with respect to any qualified equity investment, any of the following dates:
Page 2, line 1:
The date on which the investment is initially made.
before that line insert:
2.
“SECTION 1c.
Each of the 6 anniversary dates of that date thereafter.
71.45 (2) (a) 10.
(d) “Metro county” means Columbia, Dane, Green, Iowa, Milwaukee, Ozaukee, Washington, and Waukesha Counties.
of the statutes, as affected by 2025 Wisconsin Act 15, is amended to read:
(e) 1.
71.45 (2) (a) 10.
“Principal business operations” means the place or places where at least 60 percent of a qualified active low-income community business’s employees work or where employees that are paid at least 60 percent of the business’s payroll work.
By adding to federal taxable income the amount of credit computed under s.
2.
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71.47 (1dm) to (1dy), (3g), (3h), (3n), (3q), (3w), (3y), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (6n), and (10), and (11) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership’s, limited liability company’s, or tax-option corporation’s income under s.
“Principal business operations” includes places where an out-of-state business agrees to relocate employees or an in-state business agrees to hire employees using the proceeds of a qualified low-income community investment when the business satisfies the definition under subd.
71.21 (4) or 71.34 (1k) (g) and the amount of credit computed under s.
71.47 (3), (3t), (4), (4m), and (5).
S ECTION 1e.
71.47 (11) of the statutes is created to read:
- 2026 Legislature - 2 - LRBa0759/1 KP:skw 71.47 (11) C OMMUNITY DEVELOPMENT ENTITY INVESTMENT CREDIT .
(a) Definitions.
In this subsection:
“Applicable percentage” means 0 percent for the first 2 credit allowance dates and 10 percent for the next 5 credit allowance dates.
within 180 days, or by a later date agreed by the department, after receiving the qualified low-income community investment.
(f) “Purchase price” means the amount paid to a qualified community development entity for a qualified equity investment.
(g) 1.
“Qualified active low-income community business” has the meaning given in section 45D (d) (2) of the Internal Revenue Code except as provided in subd.
“CDFI fund” means the community development financial institutions fund of the U.S.
“Qualified active low-income community business” includes a business for the duration that it receives a qualified low-income community investment if the qualified community development entity reasonably expects at the time that it makes the qualified low-income community investment in the business that the business will continue to continue to be considered a qualified active low-income - 2026 Legislature - 4 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 community business under section 45D (d) (2) of the Internal Revenue Code throughout the entire period that it receives the qualified low-income community investment.
treasury department or any agency or instrumentality of the federal government that administers the program authorized under section 45D of the Internal Revenue Code.
2.
“Qualified active low-income community business” does not include a business that derives or projects to derive 15 percent or more of its annual income from the rental or sale of real estate.
This subdivision does not apply to a business that is controlled by or under common control with another business if the 2nd business does not derive or project to derive 15 percent or more of its annual income from the rental or sale of real estate and is the primary tenant of the real estate leased from the initial business.
(h) “Qualified community development entity” has the meaning given in section 45D (c) of the Internal Revenue Code but includes only entities that have entered into, or that are controlled by an entity that has entered into, an allocation agreement with the CDFI fund with respect to tax credits authorized under section 45D of the Internal Revenue Code that includes this state within the service area set forth in that allocation agreement.
(i) “Qualified equity investment” means any equity investment in a qualified community development entity to which all of the following apply:
1.
Either of the following applies:
a.
The equity investment is acquired after December 31, 2024, at its original issuance solely in exchange for cash.
b.
The equity investment is acquired by an insurer and a prior holder of the equity investment acquired it after December 31, 2024, at its original issuance solely in exchange for cash.
- 2026 Legislature - 5 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 2.
The qualified community development entity uses at least 100 percent of the purchase price of the equity investment to make qualified low-income community investments in qualified active low-income community businesses that have their principal business operations in this state.
“Claimant” means a person who files a claim under this subsection.
The equity investment is designated by the community development entity as a qualified equity investment under sub.
(5).
“Credit allowance date” means, with respect to any qualified equity investment, any of the following dates:
If the qualified community development entity is not domiciled in this state and the entity’s controlling entity, if any, is not domiciled in this state, the qualified community development entity has designated at least 50 percent of the equity investment as a qualified equity investment under section 45D of the Internal Revenue Code.
5.
The equity investment is certified by the department as not exceeding the limit under sub.
(4) (a).
(j) “Qualified low-income community investment” means any capital or equity investment in, or loan to, a qualified active low-income community business.
(k) “Rural county” means any county in this state that is not a metro county.
(2) FILING CLAIM.
For taxable years beginning after December 31, 2024, an insurer may claim as a credit against the fees due under s.
76.60, 76.63, 76.65, 76.66, or 76.67, for a taxable year in which the insurer holds a qualified equity investment on its the allowance date, an amount equal to the applicable percentage for that allowance date multiplied by the purchase price paid to the qualified community development entity for the qualified equity investment.
(3) CARRY-FORWARD .
If the credit under sub.
(2) is not entirely offset against the fees under s.
76.60, 76.63, 76.65, 76.66, or 76.67 otherwise due, the unused - 2026 Legislature - 6 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 balance may be carried forward and credited against those fees for following years to the extent that it is not offset by those fees otherwise due in all the years between the year in which the qualified entity investment was held on its allowance date and the year in which the carry-forward credit is claimed.
(4) ALLOCATIONS ;
APPLICATIONS .
(a) 1.
The department shall allocate $125,000,000 in qualified equity investment authority for the credit under this section for investment in qualified active low-income community businesses having principal business operations in a rural county.
2.
The department shall allocate $125,000,000 in qualified equity investment authority for the credit under this section for investment in qualified active low- income community businesses having principal business operations in a metro county.
(b) 1.
A qualified community development entity that seeks to have an equity investment designated as a qualified equity investment that is eligible for the credit under this section shall apply to the department for the rural allocation under par.
(a) 1.
or the metro allocation under par.
(a) 2.
or both on a form provided by the department and shall include all of the following:
The date on which the investment is initially made.
The name, address, and tax identification number of the applicant and evidence of the applicant’s certification as a qualified community development entity by the CDFI fund.
Each of the 6 anniversary dates of that date thereafter.
A copy of the allocation agreement executed by the applicant or its controlling entity and the CDFI fund.
c.
A certificate executed by an executive officer of the applicant attesting that - 2026 Legislature - 7 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 the allocation agreement with the CDFI fund remains in effect and has not been revoked or cancelled.
d.
A description of the proposed amount, structure, and purchaser of the equity investment.
e.
The amount of qualified equity investment authority applied for from the rural allocation or the metro allocation, or both, as applicable.
If the applicant is not domiciled in this state, the amount applied for under this paragraph may not exceed an amount equal to twice the amount of qualified equity investment authority under section 45D of the Internal Revenue Code available to the applicant or its controlling entity.
f.
If the applicant is not domiciled in this state, evidence of the amount of qualified equity investment authority under section 45D of the Internal Revenue Code available to the applicant or its controlling entity.
g.
A nonrefundable application fee of $5,000 paid to the department.
2.
A qualified community development entity may apply for a portion of both the rural allocation under par.
(a) 1.
and the metro allocation under par.
(a) 2.
of qualified equity investment authority.
3.
The department shall establish a date for beginning to accept applications under this paragraph that is not less than 30 days but no more than 45 days after the U.S.
treasury department announces allocation awards for the CDFI fund for the round of funding set forth in 89 Fed.
Reg.
99283 to 99292 (November 21, 2024).
(5) CERTIFICATION OF QUALIFIED EQUITY INVESTMENTS.
(a) No later than 30 days after receiving an application under sub.
(4) (b), the department shall approve or deny the application in full or in part.
If the department denies any part of the - 2026 Legislature - 8 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 application, the department shall inform the applicant of the grounds for the denial.
If the applicant provides any additional information required by the department or otherwise amends its application within 15 days of the notice of denial, the department shall consider the application complete as of the original date of submission.
If the applicant fails to provide the information or complete its application within 15 days of the notice of denial, the application remains denied and if the applicant submits an additional application, the department may not consider the additional application complete as of the date of submission of the original application.
(b) 1.
If the department determines that an application is complete, the department shall certify the equity investment proposed by the application as a qualified equity investment that is eligible for the credit under this section, subject to the limitations under this subsection.
2.
The department shall provide written notice of a certification under subd.
1.
to the applicant.
3.
When a qualified community development entity certified under subd.
1.
knows the names of the persons who are allocated a credit under this section and the respective credit amounts for each person, the qualified community development entity shall provide to the department a notice containing the names and credit amounts.
4.
The department shall provide a certification containing the credit amounts and utilization schedule to each person and qualified community development entity described in subd.
3.
“Purchase price” means the amount paid to a qualified community development entity for a qualified equity investment.
If the person eligible to claim a credit under this section changes because of - 2026 Legislature - 9 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 a transfer of a qualified equity investment, the qualified community development entity shall notify the department of the change.
6.
(c) 1.
If the amount of qualified equity investment authority for the rural allocation under sub.
(4) (a) 1.
is insufficient to certify all amounts of qualified equity investment applied for, the department shall prorate the amounts certified among the approved applicants in proportion to the ratio of the amount of qualified equity investment authority applied for by an applicant for the rural allocation under sub.
(4) (a) 1.
to the total amount of qualified equity investment applied for the rural allocation under sub.
(4) (a) 1.
by all applicants.
2.
If the amount of qualified equity investment authority for the metro allocation under sub.
(4) (a) 2.
is insufficient to certify all amounts of qualified equity investment applied for, the department shall prorate the amounts certified among the approved applicants in proportion to the ratio of the amount of qualified equity investment authority applied for by an applicant for the metro allocation under sub.
(4) (a) 2.
to the total amount of qualified equity investment applied for the metro allocation under sub.
(4) (a) 2.
by all applicants.
(d) 1.
The department shall certify an amount of qualified equity investments that generates no more than the following amounts of credits under this section for a taxable year, excluding any credits under this section carried forward from a previous taxable year:
“Qualified active low-income community business” has the meaning given in section 45D (d) (2) of the Internal Revenue Code except as provided in subd.
For credits for qualified equity investments from the allocation under sub.
6.
(4) (a) 1., $12,500,000.
“Qualified active low-income community business” includes a business for the duration that it receives a qualified low-income community investment if the qualified community development entity reasonably expects at the time that it makes the qualified low-income community investment in the business that the business will continue to continue to be considered a qualified active low-income community business under section 45D (d) (2) of the Internal Revenue Code - 2026 Legislature - 3 - LRBa0759/1 KP:skw throughout the entire period that it receives the qualified low-income community investment.
For credits for qualified equity investments from the allocation under sub.
(4) (a) 2., $12,500,000.
- 2026 Legislature - 10 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 2.
If the department cannot grant in full a certification for a tax credit under this section because of the limit described in subd.
1., the department shall certify the portion of the credit, if any, allowed under the limit described in subd.
1.
unless the applicant elects to withdraw its application.
(e) 1.
An applicant that receives a certification for qualified equity investment authority may transfer all or a portion of its authority to issue qualified equity investments to its controlling entity or any affiliate or partner of the controlling entity that is also a qualified community development entity.
2.
An applicant may not transfer authority to issue qualified equity investments under subd.
1.
unless the applicant provides the department with the information described in sub.
(4) (b) 1.
a., b., c., d., and f.
with respect to the transferee and notifies the department of the transfer in the notice required under par.
(g).
(f) No later than 30 days after receiving a notice of certification under par.
(b) 2., the applicant or a transferee under par.
(e) 1.
shall do all of the following:
1.
Issue qualified equity investments in an amount equal to the total amount of certified qualified equity investment authority.
2.
Receive cash in the amount of the qualified equity investment issued under subd.
1.
3.
If the applicant or transferee is not domiciled in this state, designate at least 50 percent of the qualified equity investment authority described in subd.
1.
as a qualified equity investment under section 45D of the Internal Revenue Code.
(g) 1.
No later than 35 days after receiving a notice of certification under par.
(b) 2., a qualified community development entity shall provide the department with - 2026 Legislature - 11 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 evidence of the cash investment received under par.
(f) 2., and if the qualified community development entity is not domiciled in this state, evidence of the designation of at least 50 percent of the qualified equity investment described in par.
(f) 1.
as a qualified equity investment under section 45D of the Internal Revenue Code.
2.
If a qualified community development entity does not satisfy the requirements under par.
(f), the certification granted to the qualified community development entity lapses.
3.
The department shall award any qualified equity investment authority that lapses under subd.
2.
on a pro rata basis to applicants that received awards of qualified equity investment authority and that agree to designate any additional qualified equity investment authority awarded under this subdivision as a qualified equity investment under section 45D of the Internal Revenue Code and to satisfy par.
(f) with the additional qualified equity investment authority.
(h) If the department does not award the full amount of the rural allocation under sub.
(4) (a) 1.
or metro allocation under sub.
(4) (a) 2.
or both, the requirements under par.
(f) 3.
and (g) 1.
applicable to qualified community development entities not domiciled in this state do not apply and the department shall establish a date for accepting additional applications.
(6) R ECAPTURE .
(a) The department shall recapture credits under this section and future credits are forfeited if any of the following applies:
1.
Any amount of the federal tax credit under section 45D of the Internal Revenue Code available with respect to a qualified equity investment that is eligible for a credit under this section is recaptured under section 45D of the Internal - 2026 Legislature - 12 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 Revenue Code.
If this subdivision applies, the department shall recapture the same proportion of the credit under this section that is recaptured under section 45D of the Internal Revenue Code.
2.
The qualified community development entity that issued the qualified equity investment redeems or makes principal repayment with respect to the qualified equity investment before the 7th anniversary of the issuance of the qualified equity investment.If this subdivision applies, the department shall recapture an amount of the credit proportionate to the amount of the redemption or repayment with respect to the qualified equity investment.
3.
The qualified community development entity fails to invest at least 100 percent of the cash purchase price of the qualified equity investment in qualified low-income community investments in rural or metro counties, as applicable, within 12 months of the issuance of the qualified equity investment or to maintain such level of investment in qualified low-income community investments in rural or metro counties, as applicable, until the last credit allowance date for such qualified equity investment.
(b) 1.
a.
A qualified community development entity shall use the proceeds from qualified low-income community investments made from the rural allocation under sub.
(4) (a) 1.
to make qualified low-income community investments in qualified active low-income community businesses with principal business operations in a rural county.
“Qualified active low-income community business” does not include a business that derives or projects to derive 15 percent or more of its annual income from the rental or sale of real estate.
A qualified community development entity shall use the proceeds from qualified low-income community investments made from the metro allocation under sub.
This subd.
(4) (a) 2.
6.
to make qualified low-income community investments in qualified - 2026 Legislature - 13 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 active low-income community businesses with principal business operations in a metro county.
b.
does not apply to a business that is controlled by or under common control with another business if the 2nd business does not derive or project to derive 15 percent or more of its annual income from the rental or sale of real estate and is the primary tenant of the real estate leased from the initial business.
7.
“Qualified community development entity” has the meaning given in section 45D (c) of the Internal Revenue Code but includes only entities that have entered into, or that are controlled by an entity that has entered into, an allocation agreement with the CDFI fund with respect to tax credits authorized under section 45D of the Internal Revenue Code that includes this state within the service area set forth in that allocation agreement.
8.
“Qualified equity investment” has the meaning given in s.
76.633 (1) (i).
9.
“Qualified low-income community investment” means any capital or equity investment in, or loan to, a qualified active low-income community business.
(b) Filing claims.
Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2024, a claimant may claim as a credit against the tax imposed under s.
71.43, for a taxable year in which the insurer holds a qualified equity investment on the credit allowance date, an amount equal to the applicable percentage for that credit allowance date multiplied by the purchase - 2026 Legislature - 4 - LRBKP:skw1 price paid to the qualified community development entity for the qualified equity investment.
(c) Limitations.
No credit may be allowed under this subsection unless it is claimed within the period specified in s.
71.75 (2).
(d) Administration.
Section 76.633 (3), (4), (5), (6), (7), (8), and (9), as it applies to the credit under s.
76.633, applies to the credit under this subsection.
S ECTION 1g.
71.49 (1) (bt) of the statutes is created to read:
71.49 (1) (bt) Community development entity investment credit under s.
71.47 (11).”.
Page 2, line 7:
For purposes of par.
delete “department.” and substitute “department or any agency or instrumentality of the federal government that administers the program authorized under section 45D of the Internal Revenue Code.”.
(a) 3., an investment is considered maintained by a qualified community development entity even if the investment has been sold or repaid if the qualified community development entity reinvests an amount equal to the capital returned to or recovered by the qualified community development entity from the original investment, excluding any profits realized, in another qualified low-income community investment in a rural or metro county, as applicable, within 12 months of the receipt of the capital.
Periodic loan repayments received by a qualified community development entity from a qualified active low-income community business within a calendar year are considered maintained in qualified low-income community investments if the qualified community development entity reinvests such amounts in qualified low-income community investments by the end of the following calendar year.
(c) A qualified community development entity is not required to reinvest capital returned from qualified low-income community investments after the 6th anniversary of the issuance of the qualified equity investment, the proceeds of which were used to make the qualified low-income community investment, and the qualified low-income community investment is considered held by the qualified community development entity through the 7th anniversary of the qualified equity investment’s issuance.
(d) No more than $10,000,000 in qualified low-income community investments made in any one particular qualified active low-income community business, including all of its affiliates, may count towards satisfying the - 2026 Legislature - 14 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 requirement under par.
(a) 3., whether made by one or several qualified community development entities, excluding any redeemed or repaid qualified low-income community investments by the qualified active low-income community business.
(e) 1.
The department shall provide notice to a qualified community development entity of a proposed recapture of credits under this subsection.
If the qualified community development entity fails or is unable to cure the deficiency that the proposed recapture is based on within 90 days of the notice, the department shall provide the qualified community development entity and the person from whom the credit under this section is to be recaptured with a final order of recapture.
2.
A credit for which a final recapture order is issued shall be recaptured by the department from the person who claimed the credit on a tax return.
Page 3, line 4:
The qualified equity investment authority related to recaptured credits lapses to the department and shall be awarded pro rata to applicants that received awards of qualified equity investment authority, satisfied sub.
after that line insert:
(5) (f), and have not had credits recaptured under this subsection.
“(cm) “Department” means the department of revenue.”.
(7) ALLOCATION AND TRANSFERS OF CREDITS .
4.
No credit claimed under this section shall be refundable or saleable on the open market.
Page 5, line 20:
Credits earned by or allocated to a partnership, limited liability company, or tax-option corporation may be allocated to the partners, members, or shareholders of such entity for their use in accordance with the provisions of any agreement among such partners, members, or shareholders, and a qualified community development entity shall notify the department of the names of the entities that are eligible to claim the credit.
delete “its the” and substitute “the credit”.
An insurer may transfer a credit under this section to an affiliate of the insurer that is - 2026 Legislature - 15 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 subject to taxation under this subchapter if the insurer notifies the department of the transfer and includes with the notification a copy of the transfer documents.
5.
(8) E XAMINATION;
Page 5, line 21:
ADVISORY LETTERS.
after “that” insert “credit”.
(a) The department may conduct examinations to verify that the requirements under this section are satisfied.
6.
(b) The department may issue advisory letters to individual qualified community development entities and their investors that are limited to the specific facts outlined in an advisory letter request from a qualified community development entity.
Page 6, line 7:
An advisory letter issued under this paragraph may not be relied on by any person other than the qualified community development entity that requested the letter and the persons eligible to claim credits under this section generated from investments in the qualified community development entity.
after “section” insert “or s.
(c) In issuing advisory letters and making determinations under this section, to the extent applicable, the department shall use section 45D of the Internal Revenue Code and the regulations issued thereunder as guidance.
71.47 (11)”.
(9) ANNUAL REPORT .
7.
(a) No later than May 1 of each year during which a credit allowance date occurs, each qualified community development entity that has been certified under sub.
Page 6, line 10:
(5) (b) 1.
after “section” insert “or s.
shall submit an annual report to the department.
71.47 (11)”.
The report shall include all of the following:
8.
1.
Page 7, line 19:
Information with respect to all qualified low-income community investments made by the qualified community development entity, including:
delete the material beginning with “not” and ending with line 21 and substitute “between the 30th day beginning after the effective date of this subdivision ....
a.
[LRB inserts date], and the 45th day beginning after the effective date of this subdivision ....
The date and amount of, and bank statements or wire transfer reports documenting, the qualified low-income community investments.
[LRB inserts date].”.
b.
- 2026 Legislature - 5 - LRBKP:skw1 9.
The name and address of each qualified active low-income community business funded by the qualified community development entity, the number of - 2026 Legislature - 16 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 SECTION 1 persons employed by the business at the time of the initial qualified low-income community investment, and a brief description of the business and the financing.
Page 9, line 18:
c.
after “section” insert “or s.
The number of employment positions maintained by each qualified active low-income community business as of the date of the report or at the end of the preceding calendar year and the average annual salaries of the positions.
71.47 (11)”.
d.
10.
The total number of employment positions created and retained as a result of qualified low-income community investments and the average annual salaries of those positions.
Page 9, line 19:
e.
after “section” insert “or s.
A certification by its chief executive officer or similar officer that the qualified community development entity is in compliance with sub.
71.47 (11)”.
(6).
11.
f.
Page 10, line 2:
Any changes with respect to persons entitled to claim the credit under this section with respect to qualified equity investments issued by the qualified community development entity since its last report under this paragraph.
after “section” insert “or s.
(b) 1.
71.47 (11)”.
No report under par.
(END )
(a) is required to be made with respect to a qualified equity investment before the first anniversary of the credit allowance date of the qualified equity investment.
2.
A qualified community development entity is not required to provide the information described in par.
(a) for qualified low-income community investments that have been redeemed or repaid.
S ECTION 2.
76.67 (2) of the statutes is amended to read:
76.67 (2) If any domestic insurer is licensed to transact insurance business in another state, this state may not require similar insurers domiciled in that other state to pay taxes greater in the aggregate than the aggregate amount of taxes that a domestic insurer is required to pay to that other state for the same year less the - 2026 Legislature - 17 - LRB-5060/1 KP:amn&klm ASSEMBLY BILL 676 S ECTION 2 credits under ss.
76.633, 76.635, 76.636, 76.637, 76.638, and 76.655, except that the amount imposed shall not be less than the total of the amounts due under ss.
76.65 (2) and 601.93 and, if the insurer is subject to s.
76.60, 0.375 percent of its gross premiums, as calculated under s.
76.62, less offsets allowed under s.
646.51 (7) or under ss.
76.633, 76.635, 76.636, 76.637, 76.638, 76.639, and 76.655 against that total, and except that the amount imposed shall not be less than the amount due under s.
601.93.
END )
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Action History

  1. Published 4-4-2026

  2. Report approved by the Governor on 4-3-2026. 2025 Wisconsin Act 191

  3. Presented to the Governor on 4-2-2026

  4. Report correctly enrolled on 3-26-2026

  5. LRB correction (Assembly Amendment 1)

  6. Received from Senate concurred in

  7. Ordered immediately messaged

  8. Senator Smith added as a cosponsor

  9. Read a third time and concurred in, Ayes 32, Noes 1

  10. Rules suspended to give bill its third reading

  11. Ordered to a third reading

  12. Read a second time

  13. Placed on calendar 3-17-2026 pursuant to Senate Rule 18(1)

  14. Public hearing requirement waived by committee on Senate Organization, pursuant to Senate Rule 18 (1m), Ayes 3, Noes 2

  15. Available for scheduling

  16. Read first time and referred to committee on Senate Organization

  17. Received from Assembly

  18. Ordered immediately messaged

  19. Read a third time and passed, Ayes 92, Noes 7

  20. Rules suspended

  21. Ordered to a third reading

  22. Assembly Amendment 2 adopted

  23. Assembly Amendment 1 adopted

  24. Read a second time

  25. Placed on calendar 2-12-2026 by Committee on Rules

  26. Referred to committee on Rules

  27. Report passage as amended recommended by Joint Committee on Finance, Ayes 15, Noes 0

  28. Report Assembly Amendment 2 adoption recommended by Joint Committee on Finance, Ayes 15, Noes 0

  29. Report Assembly Amendment 1 adoption recommended by Joint Committee on Finance, Ayes 15, Noes 0

  30. Assembly Amendment 2 offered by Joint Committee on Finance

  31. Executive action taken by joint committee on Finance

  32. Withdrawn from committee on Rules and referred to joint committee on Finance pursuant to Assembly Rule 24 (3)(a)

  33. Referred to committee on Rules

  34. Report passage as amended recommended by Committee on Ways and Means, Ayes 8, Noes 2

  35. Report Assembly Amendment 1 adoption recommended by Committee on Ways and Means, Ayes 10, Noes 0

  36. Executive action taken

  37. Public hearing held

  38. Assembly Amendment 1 offered by Representative Zimmerman

  39. Fiscal estimate received

  40. Read first time and referred to Committee on Ways and Means

  41. Introduced by Representatives Zimmerman, Armstrong, Behnke, Kreibich and Murphy; cosponsored by Senators Marklein and James

Sponsors

Sponsorship breakdown

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1 sponsors · 6 co-sponsors · 125 not signed on · 7 voted No

Sponsors (1)

Co-sponsors (6)

Not signed on (125)

125 members have not signed on to this bill.

Show all 125 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Read a third time and concurred in

Passed 32 Yea · 1 Nay
Party YeaNayPresentNot Voting
Republican 17100
Democrat 12000
Unaffiliated 3000
Total 32100
% of votes cast 97%3%0%0%
How each member voted (33)
Member Party Vote
JOHNSON — Yea
DASSLER-ALFHEI — Yea
HABUSH SINYKIN — Yea
Carpenter, Tim Democrat Yea
Drake, Dora Democrat Yea
Hesselbein, Dianne Democrat Yea
Keyeski, Sarah Democrat Yea
Larson, Chris Democrat Yea
Pfaff, Brad Democrat Yea
Ratcliff, Melissa Democrat Yea
Roys, Kelda Democrat Yea
Smith, Jeff Democrat Yea
Spreitzer, Mark Democrat Yea
Wall, Jamie Democrat Yea
Wirch, Robert Democrat Yea
Bradley, Julian Republican Yea
Cabral-Guevara, Rachael Republican Yea
Felzkowski, Mary Republican Yea
Feyen, Dan Republican Yea
Hutton, Rob Republican Yea
Jacque, André Republican Yea
Jagler, John Republican Yea
James, Jesse Republican Yea
Kapenga, Chris Republican Nay
LeMahieu, Devin Republican Yea
Marklein, Howard Republican Yea
Nass, Steve Republican Yea
Quinn, Romaine Republican Yea
Stafsholt, Rob Republican Yea
Testin, Patrick Republican Yea
Tomczyk, Cory Republican Yea
Wanggaard, Van Republican Yea
Wimberger, Eric Republican Yea

Official roll call →

Read a third time and passed

Passed 92 Yea · 7 Nay
Party YeaNayPresentNot Voting
Republican 53000
Democrat 37600
Unaffiliated 2100
Total 92700
% of votes cast 93%7%0%0%
How each member voted (99)
Member Party Vote
JOHNSON — Yea
MOORE OMOKUNDE — Nay
SPEAKER — Yea
Anderson, Clinton Democrat Yea
Andraca, Deb Democrat Yea
Arney, Margaret Democrat Yea
Bare, Mike Democrat Yea
Billings, Jill Democrat Yea
Brown, Brienne Democrat Yea
Clancy, Ryan Democrat Nay
Cruz, Angelina Democrat Nay
DeSanto, Karen Democrat Yea
DeSmidt, Ben Democrat Yea
Doyle, Steve Democrat Yea
Emerson, Jodi Democrat Yea
Fitzgerald, Joan Democrat Yea
Goodwin, Russell Democrat Yea
Haywood, Kalan Democrat Yea
Hong, Francesca Democrat Nay
Hysell, Andrew Democrat Yea
Jacobson, Jenna Democrat Yea
Joers, Alex Democrat Yea
Kirsch, Karen Democrat Yea
Madison, Darrin Democrat Nay
Mayadev, Renuka Democrat Yea
McCarville, Maureen Democrat Yea
McGuire, Tip Democrat Yea
Miresse, Vincent Democrat Nay
Neubauer, Greta Democrat Yea
Ortiz-Velez, Sylvia Democrat Yea
Palmeri, Lori Democrat Yea
Phelps, Christian Democrat Yea
Prado, Priscilla Democrat Yea
Rivera-Wagner, Amaad Democrat Yea
Roe, Ann Democrat Yea
Sheehan, Joe Democrat Yea
Sinicki, Christine Democrat Yea
Snodgrass, Lee Democrat Yea
Spaude, Ryan Democrat Yea
Stroud, Angela Democrat Yea
Stubbs, Shelia Democrat Yea
Subeck, Lisa Democrat Yea
Taylor, Sequanna Democrat Nay
Tenorio, Angelito Democrat Yea
Udell, Randy Democrat Yea
Vining, Robyn Democrat Yea
Allen, Scott Republican Yea
Armstrong, David Republican Yea
August, Tyler Republican Yea
Behnke, Elijah Republican Yea
Born, Mark Republican Yea
Brill, Lindee Republican Yea
Brooks, Robert Republican Yea
Callahan, Calvin Republican Yea
Dallman, Alex Republican Yea
Dittrich, Barbara Republican Yea
Donovan, Bob Republican Yea
Duchow, Cindi Republican Yea
Franklin, Benjamin Republican Yea
Goeben, Joy Republican Yea
Green, Chanz Republican Yea
Gundrum, Rick Republican Yea
Gustafson, Nate Republican Yea
Hurd, Karen Republican Yea
Jacobson, Brent Republican Yea
Kaufert, Dean Republican Yea
Kitchens, Joel Republican Yea
Knodl, Daniel Republican Yea
Kreibich, Rob Republican Yea
Krug, Scott Republican Yea
Kurtz, Tony Republican Yea
Maxey, Dave Republican Yea
Melotik, Paul Republican Yea
Moses, Clint Republican Yea
Murphy, David Republican Yea
Mursau, Jeffrey Republican Yea
Nedweski, Amanda Republican Yea
Neylon, Adam Republican Yea
Novak, Todd Republican Yea
O'Connor, Jerry Republican Yea
Penterman, William Republican Yea
Petersen, Kevin Republican Yea
Piwowarczyk, Jim Republican Yea
Pronschinske, Treig Republican Yea
Rodriguez, Jessie Republican Yea
Snyder, Patrick Republican Yea
Sortwell, Shae Republican Yea
Spiros, John Republican Yea
Steffen, David Republican Yea
Summerfield, Rob Republican Yea
Swearingen, Rob Republican Yea
Tittl, Paul Republican Yea
Tranel, Travis Republican Yea
Tucker, Duke Republican Yea
Tusler, Ron Republican Yea
VanderMeer, Nancy Republican Yea
Wichgers, Chuck Republican Yea
Wittke, Robert Republican Yea
Zimmerman, Shannon Republican Yea

Official roll call →

Subjects

taxation finance
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Frequently asked questions

What does AB 676 do?
An Act to amend 76.67 (2); to create 76.633 of the statutes;
Who sponsors AB 676?
AB 676 is sponsored by Marklein, James, Zimmerman, Shannon (Republican), Armstrong, David (Republican), Behnke, Elijah (Republican), Kreibich, Rob (Republican), and Murphy, David (Republican).
What is the current status of AB 676?
This bill has been sent to the executive. Introduced November 19, 2025. It awaits signature.
Where can I track AB 676?
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