Wisconsin 2025 Regular Session Status: Introduced Bipartisan · 3 D · 1 R cosponsors

SB 382 — Relating to: modifications to the historic rehabilitation tax credit. (FE)

Last action — Failed to pass pursuant to Senate Joint Resolution 1

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

This bill has been introduced in the Senate. Introduced July 28, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 54% · moderate confidence

  • Introduced

    Current position in the legislative process.

  • 14 sponsors

    1 primary, 13 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (3 D · 1 R) — cross-party backing.

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

An Act to repeal 71.07 (9m) (a) 1m., 71.28 (6) (a) 1m. and 71.47 (6) (a) 1m.; to amend 71.07 (9m) (a) 2m., 71.07 (9m) (a) 3., 71.07 (9m) (c) (intro.), 71.07 (9m) (c) 1., 71.07 (9m) (cm), 71.07 (9m) (cn) (intro.), 71.07 (9m) (g) 1., 71.07 (9m) (h), 71.28 (6) (a) 2m., 71.28 (6) (a) 3., 71.28 (6) (c) (intro.), 71.28 (6) (c) 1., 71.28 (6) (cm), 71.28 (6) (cn) (intro.), 71.28 (6) (g) 1., 71.28 (6) (h), 71.47 (6) (a) 2m., 71.47 (6) (a) 3., 71.47 (6) (c) (intro.), 71.47 (6) (c) 1., 71.47 (6) (cm), 71.47 (6) (cn) (intro.), 71.47 (6) (g) 1., 71.47 (6) (h) and 238.17 (2); to create 71.07 (9m) (a) 4., 71.07 (9m) (ck), 71.28 (6) (a) 4., 71.28 (6) (ck), 71.47 (6) (a) 4. and 71.47 (6) (ck) of the statutes;

Bill Text

What changed in the latest version

376 added · 79 removed

Plain-language change summary

The recent amendment to SB 382 updates the historic rehabilitation tax credit by clarifying the definitions of "qualified rehabilitated building" and "qualified rehabilitation expenditures." This means that for a building to qualify for the tax credit, at least $50,000 must be spent on rehabilitation during a specified 24-month period. These changes are important because they provide clearer guidelines for taxpayers, potentially making it easier for property owners to take advantage of these credits when restoring historic structures in Wisconsin.

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Latest
- 2026 LEGISLATURE LRBa0361/1 EKL&MDE:wlj SENATE AMENDMENT 1, TO SENATE BILL 382 September 3, 2025 - Offered by SenatEYEN.
- 2026 LEGISLATURE LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 July 28, 2025 - Introduced by SenatorEYEN, DASSLER-ALFHEIM , HABUSH S INYKIN, L.
At the locations indicated, amend the bill as follows:
JOHNSON and SPREITZER , cosponsored by Representatives ARMSTRONG , K REIBICH, OERS , MOSES, MURSAU , ORTIZ-VELEZ, TITT, TRANEL and UDELL .
1.
Referred to Committee on Agriculture and Revenue.
Page 3, line 22:
A N A CT to repeal 71.07 (9m) (a) 1m., 71.28 (6) (a) 1m.
after X(a) 4.Y insert Xa.Y.
and 71.47 (6) (a) 1m.;
2.
to amend 71.07 (9m) (a) 2m., 71.07 (9m) (a) 3., 71.07 (9m) (c) (intro.), 71.07 (9m) (c) 1., 71.07 (9m) (cm), 71.07 (9m) (cn) (intro.), 71.07 (9m) (g) 1., 71.07 (9m) (h), 71.28 (6) (a) 2m., 71.28 (6) (a) 3., 71.28 (6) (c) (intro.), 71.28 (6) (c) 1., 71.28 (6) (cm), 71.28 (6) (cn) (intro.), 71.28 (6) (g) 1., 71.28 (6) (h), 71.47 (6) (a) 2m., 71.47 (6) (a) 3., 71.47 (6) (c) (intro.), 71.47 (6) (c) 1., 71.47 (6) (cm), 71.47 (6) (cn) (intro.), 71.47 (6) (g) 1., 71.47 (6) (h) and 238.17 (2);
Page 4, line 1:
to create 71.07 (9m) (a) 4., 71.07 (9m) (ck), 71.28 (6) (a) 4., 71.28 (6) (ck), 71.47 (6) (a) 4.
delete X, as defined in section 47 (c) (2) of the Internal Revenue Code,Y.
and 71.47 (6) (ck) of the statutes;
3.
relating to:
Page 4, line 3:
modifications to the historic rehabilitation tax credit.
delete the material beginning with XFor purposesY and ending with X$50,000.Y on line 9.
Analysis by the Legislative Reference Bureau This bill modifies the historic rehabilitation tax credit, which allows taxpayers to claim a credit for the amounts spent to rehabilitate certified historic structures located in Wisconsin.
4.
The credit is based on the federal rehabilitation tax credit.
Page 4, line 9:
In general, a taxpayer may claim both credits for the same rehabilitation project;
after that line insert:
- 2026 Legislature - 2 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 SECTION 1 however, in some cases, a taxpayer may not be able to claim both due to differences in state and federal law.
Xb.
Under current law, taxpayers may claim a credit equal to 20 percent of their qualified rehabilitation expenditures so long as the expenditures are at least $50,000.
For purposes of this subdivision, Xqualified rehabilitated buildingY has the meaning given in section 47 (c) (1) of the Internal Revenue Code, except that a building shall be treated as having been substantially rehabilitated under section 47 (c) (1) (B) (i) of the Internal Revenue Code only if the qualified rehabilitation - 2026 Legislature - 2 - EKL&MDE:wlj1 expenditures during the 24-month period selected by the taxpayer, at the time and in the manner prescribed by federal regulations, and ending with or within the taxable year are at least $50,000.
Federal law further requires the expenditures exceed the greater of the taxpayer’s adjusted basis in the property (initial cost with certain adjustments) or $5,000.
c.
The bill provides that the federal requirement does not apply, while maintaining the $50,000 threshold.
For purposes of this subdivision, Xqualified rehabilitation expenditureY has the meaning given in section 47 (c) (2) of the Internal Revenue Code, except that if the claimant does not claim the credit under section 47 of the Internal Revenue Code for the same rehabilitation to which the claim under this subdivision relates, the rehabilitation shall be treated as a certified rehabilitation under section 47 (c) (2) (B) (iv) of the Internal Revenue Code if the state historic preservation officer certifies the rehabilitation as being consistent with the historic character of the property or the district in which the property is located.Y.
Also under current law, a taxpayer must be certified by the Wisconsin Economic Development Corporation to claim the credit.
5.
As part of this requirement, the taxpayer must provide to WEDC evidence that the State Historic Preservation Officer approved the rehabilitation before the work began and that the SHPO recommended the rehabilitation for approval to the U.S.
Page 7, line 13:
Secretary of the Interior.
after X(a) 4.Y insert Xa.Y.
The bill removes the requirement regarding SHPO recommendation for federal approval if the taxpayer claims only the state credit.
6.
The bill modifies the timing for claiming the credit, which is currently based on when the taxpayer claims the federal credit.
Page 7, line 16:
Federal law, as amended by the Tax Cuts and Jobs Act of 2017, generally requires taxpayers claim the credit in equal amounts over five years.
delete X, as defined in section 47 (c) (2) of the Internal Revenue Code,Y.
Under the bill, the full credit is generally claimed in one year.
7.
The bill sunsets the credit for the rehabilitation of qualifying buildings that are not certified historic structures and the corresponding requirement that WEDC certify taxpayers to claim that credit.
Page 7, line 18:
The Tax Cuts and Jobs Act had sunsetted a similar federal credit.
delete the material beginning with XFor purposesY and ending with X$50,000.Y on line 24.
Finally, current law prohibits WEDC from certifying persons to claim more than a total of $3,500,000 in tax credits for all projects undertaken on the same parcel.
8.
Under the bill, this restriction only applies to certifying persons to claim tax credits for all projects undertaken on the same parcel within a single 10-year period.
Page 7, line 24:
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
after that line insert:
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Xb.
SECTION 1.
For purposes of this subdivision, Xqualified rehabilitated buildingY has the meaning given in section 47 (c) (1) of the Internal Revenue Code, except that a building shall be treated as having been substantially rehabilitated under section 47 (c) (1) (B) (i) of the Internal Revenue Code only if the qualified rehabilitation expenditures during the 24-month period selected by the taxpayer, at the time and - 2026 Legislature - 3 - EKL&MDE:wlj1 in the manner prescribed by federal regulations, and ending with or within the taxable year are at least $50,000.
71.07 (9m) (a) 1m.
c.
of the statutes is repealed.
For purposes of this subdivision, Xqualified rehabilitation expenditureY has the meaning given in section 47 (c) (2) of the Internal Revenue Code, except that if the claimant does not claim the credit under section 47 of the Internal Revenue Code for the same rehabilitation to which the claim under this subdivision relates, the rehabilitation shall be treated as a certified rehabilitation under section 47 (c) (2) (B) (iv) of the Internal Revenue Code if the state historic preservation officer certifies the rehabilitation as being consistent with the historic character of the property or the district in which the property is located.Y.
SECTION 2.
9.
71.07 (9m) (a) 2m.
Page 11, line 5:
of the statutes is amended to read:
after X(a) 4.Y insert Xa.Y.
71.07 (9m) (a) 2m.
10.
For taxable years beginning after December 31, 2013, and before January 1, 2026, any person may claim as a credit against taxes otherwise due under s.
Page 11, line 8:
71.02, up to the amount of those taxes, an amount equal to 20 percent - 2026 Legislature - 3 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 SECTION 2 of the costs of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue Code, for certified historic structures on property located in this state, if the cost of the person’s qualified rehabilitation expenditures is at least $50,000 and the rehabilitated property is placed in service after December 31, 2013, and before January 1, 2026.
delete X, as defined in section 47 (c) (2) of the Internal Revenue Code,Y.
S ECTION 3.
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11.
71.07 (9m) (a) 3.
Page 11, line 10:
of the statutes is amended to read:
delete the material beginning with XFor purposesY and ending with X$50,000.Y on line 16.
71.07 (9m) (a) 3.
12.
For taxable years beginning after December 31, 2013, and before January 1, 2026, any person may claim as a credit against taxes otherwise due under s.
Page 11, line 16:
71.02, up to the amount of those taxes, an amount equal to 20 percent of the costs of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue Code, for qualified rehabilitated buildings, as defined in section 47 (c) (1) of the Internal Revenue Code, on property located in this state, if the cost of the person’s qualified rehabilitation expenditures is at least $50,000 and the rehabilitated property is placed in service after December 31, 2013, and before January 1, 2026, and regardless of whether the rehabilitated property is used for multiple or revenue-producing purposes.
after that line insert:
No credit may be claimed under this subdivision for property listed as a contributing building in the state register of historic places or in the national register of historic places and no credit may be claimed under this subdivision for nonhistoric, nonresidential property converted into housing if the property has been previously used for housing.
Xb.
S ECTION 4.
For purposes of this subdivision, Xqualified rehabilitated buildingY has the meaning given in section 47 (c) (1) of the Internal Revenue Code, except that a building shall be treated as having been substantially rehabilitated under section 47 (c) (1) (B) (i) of the Internal Revenue Code only if the qualified rehabilitation expenditures during the 24-month period selected by the taxpayer, at the time and in the manner prescribed by federal regulations, and ending with or within the taxable year are at least $50,000.
71.07 (9m) (a) 4.
- 2026 Legislature - 4 - LRBa0361/1 EKL&MDE:wlj c.
of the statutes is created to read:
For purposes of this subdivision, Xqualified rehabilitation expenditureY has the meaning given in section 47 (c) (2) of the Internal Revenue Code, except that if the claimant does not claim the credit under section 47 of the Internal Revenue Code for the same rehabilitation to which the claim under this subdivision relates, the rehabilitation shall be treated as a certified rehabilitation under section 47 (c) (2) (B) (iv) of the Internal Revenue Code if the state historic preservation officer certifies the rehabilitation as being consistent with the historic character of the property or the district in which the property is located.Y.
71.07 (9m) (a) 4.
13.
For taxable years beginning after December 31, 2025, any person may claim as a credit against taxes otherwise due under s.
Page 14, line 5:
71.02, up to the amount of those taxes, an amount equal to 20 percent of the qualified rehabilitation - 2026 Legislature - 4 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 SECTION 4 expenditures, as defined in section 47 (c) (2) of the Internal Revenue Code, for a qualified rehabilitated building located in this state and placed in service after December 31, 2025.
after that line insert:
For purposes of this subdivision, “qualified rehabilitated building” has the meaning given in section 47 (c) (1) of the Internal Revenue Code, except that a building shall be treated as having been substantially rehabilitated under section 47 (c) (1) (B) (i) of the Internal Revenue Code only if the qualified rehabilitation expenditures during the 24-month period selected by the taxpayer (at the time and in the manner prescribed by federal regulations) and ending with or within the taxable year are at least $50,000.
X(2m) Credits awarded during a single 10-year period under s.
S ECTION 5.
238.17 (2), as amended by this act, include any amount in tax credits certified between July 1, 2018, and the effective date of this subsection.Y.
71.07 (9m) (c) (intro.) of the statutes is amended to read:
(END )
71.07 (9m) (c) (intro.) No person may claim the credit under par.
(a) 2m.
or 4.
unless the claimant includes with the claimant’s return a copy of the claimant’s certification under s.
238.1For certification purposes under s.
238.17, the claimant shall provide to the Wisconsin Economic Development Corporation all of the following:
S ECTION 6.
71.07 (9m) (c) 1.
of the statutes is amended to read:
71.07 (9m) (c) 1.
Evidence If the claimant claims the credit under section 47 of the Internal Revenue Code for the same rehabilitation, evidence that the rehabilitation was recommended by the state historic preservation officer for approval by the secretary of the interior under 36 CFR 67.6 before the physical work of construction, or destruction in preparation for construction, began and that the rehabilitation was approved by the state historic preservation offIf the claimant does not claim the credit under section 47 of the Internal Revenue Code for the same rehabilitation, evidence that the rehabilitation was approved by the - 2026 Legislature - 5 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 SECTION 6 state historic preservation officer before the physical work of construction, or destruction in preparation for construction, began.
S ECTION 7.
71.07 (9m) (ck) of the statutes is created to read:
71.07 (9m) (ck) A credit claimed under par.
(a) 4.
shall be claimed in the taxable year in which the qualified rehabilitated building is placed in service, unless the taxpayer makes the election under par.
(g) 1.
to claim the credit based on progress expenditures under section 47 (d) of the Internal Revenue Code.
S ECTION 8.
71.07 (9m) (cm) of the statutes is amended to read:
71.07 (9m) (cm) Any credit claimed under this subsection for Wisconsin purposes par.
(a) 2m.
or 3.
shall be claimed at the same time as for federal purposes.
S ECTION 9.
71.07 (9m) (cn) (intro.) of the statutes is amended to read:
71.07 (9m) (cn) (intro.) For taxable years beginning after December 31, 2014, and before January 1, 2026, the Wisconsin Economic Development Corporation shall certify a person to claim a credit under par.
(a) 3.
if all of the following apply:
S ECTION 10.
71.07 (9m) (g) 1.
of the statutes is amended to read:
71.07 (9m) (g) 1.
If a person who claims the credit under this subsection under par.
(a) 2m., 3., or 4.
elects to claim the credit based on claiming amounts for expenditures as the expenditures are paid, rather than when the rehabilitation work is completed progress expenditures under section 47 (d) of the Internal Revenue Code, the person shall file an election form with the department, in the manner prescribed by the department.
S ECTION 11.
71.07 (9m) (h) of the statutes is amended to read:
71.07 (9m) (h) Any person, including a nonprofit entity described in section 501 (c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit - 2026 Legislature - 6 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 S ECTION 11 under par.
(a) 2m.
or, 3., or 4., in whole or in part, to another person who is subject to the taxes imposed under s.
71.02, 71.23, or 71.43, if the person notifies the department of the transfer, and submits with the notification a copy of the transfer documents, and the department certifies ownership of the credit with each transfer.
The transferor may file a claim for more than one taxable year on a form prescribed by the department to compute all years of the credit under par.
(a) 2m.
or, 3., or 4., at the time of the transfer request.
The transferee may first use the credit to offset tax in the taxable year of the transferor in which the transfer occurs and may use the credit only to offset tax in taxable years otherwise allowed to be claimed and carried forward by the original claimant.
S ECTION 12.
71.28 (6) (a) 1m.
of the statutes is repealed.
S ECTION 13.
71.28 (6) (a) 2m.
of the statutes is amended to read:
71.28 (6) (a) 2m.
For taxable years beginning after December 31, 2013, and before January 1, 2026, any person may claim as a credit against taxes otherwise due under s.
71.23, up to the amount of those taxes, an amount equal to 20 percent of the costs of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue Code, for certified historic structures on property located in this state, if the cost of the person’s qualified rehabilitation expenditures is at least $50,000 and the rehabilitated property is placed in service after December 31, 2013, and before January 1, 2026.
S ECTION 14.
71.28 (6) (a) 3.
of the statutes is amended to read:
71.28 (6) (a) 3.
For taxable years beginning after December 31, 2013, and before January 1, 2026, any person may claim as a credit against taxes otherwise due under s.
71.23, up to the amount of those taxes, an amount equal to 20 percent - 2026 Legislature - 7 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 S ECTION 14 of the costs of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue Code, for qualified rehabilitated buildings, as defined in section 47 (c) (1) of the Internal Revenue Code, on property located in this state, if the cost of the person’s qualified rehabilitation expenditures is at least $50,000 and the rehabilitated property is placed in service after December 31, 2013, and before January 1, 2026, and regardless of whether the rehabilitated property is used for multiple or revenue-producing purposes.
No credit may be claimed under this subdivision for property listed as a contributing building in the state register of historic places or in the national register of historic places and no credit may be claimed under this subdivision for nonhistoric, nonresidential property converted into housing if the property has been previously used for housing.
S ECTION 15.
71.28 (6) (a) 4.
of the statutes is created to read:
71.28 (6) (a) 4.
For taxable years beginning after December 31, 2025, any person may claim as a credit against taxes otherwise due under s.
71.23, up to the amount of those taxes, an amount equal to 20 percent of the qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue Code, for a qualified rehabilitated building located in this state and placed in service after December 31, 2025.
For purposes of this subdivision, “qualified rehabilitated building” has the meaning given in section 47 (c) (1) of the Internal Revenue Code, except that a building shall be treated as having been substantially rehabilitated under section 47 (c) (1) (B) (i) of the Internal Revenue Code only if the qualified rehabilitation expenditures during the 24-month period selected by the taxpayer (at the time and in the manner prescribed by federal regulations) and ending with or within the taxable year are at least $50,000.
- 2026 Legislature - 8 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 S ECTION 16 S ECTION 16.
71.28 (6) (c) (intro.) of the statutes is amended to read:
71.28 (6) (c) (intro.) No person may claim the credit under par.
(a) 2m.
or 4.
unless the claimant includes with the claimant’s return a copy of the claimant’s certification under s.
238.1For certification purposes under s.
238.17, the claimant shall provide to the Wisconsin Economic Development Corporation all of the following:
S ECTION 17.
71.28 (6) (c) 1.
of the statutes is amended to read:
71.28 (6) (c) 1.
Evidence If the claimant claims the credit under section 47 of the Internal Revenue Code for the same rehabilitation, evidence that the rehabilitation was recommended by the state historic preservation officer for approval by the secretary of the interior under 36 CFR 67.6 before the physical work of construction, or destruction in preparation for construction, began and that the rehabilitation was approved by the state historic preservation offIf the claimant does not claim the credit under section 47 of the Internal Revenue Code for the same rehabilitation, evidence that the rehabilitation was approved by the state historic preservation officer before the physical work of construction, or destruction in preparation for construction, began.
S ECTION 18.
71.28 (6) (ck) of the statutes is created to read:
71.28 (6) (ck) A credit claimed under par.
(a) 4.
shall be claimed in the taxable year in which the qualified rehabilitated building is placed in service, unless the taxpayer makes the election under par.
(g) 1.
to claim the credit based on progress expenditures under section 47 (d) of the Internal Revenue Code.
S ECTION 19.
71.28 (6) (cm) of the statutes is amended to read:
- 2026 Legislature - 9 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 S ECTION 19 71.28 (6) (cm) Any credit claimed under this subsection for Wisconsin purposes par.
(a) 2m.
or 3.
shall be claimed at the same time as for federal purposes.
S ECTION 20.
71.28 (6) (cn) (intro.) of the statutes is amended to read:
71.28 (6) (cn) (intro.) For taxable years beginning after December 31, 2014, and before January 1, 2026, the Wisconsin Economic Development Corporation shall certify a person to claim a credit under par.
(a) 3.
if all of the following apply:
S ECTION 21.
71.28 (6) (g) 1.
of the statutes is amended to read:
71.28 (6) (g) 1.
If a person who claims the credit under this subsection under par.
(a) 2m., 3., or 4.
elects to claim the credit based on claiming amounts for expenditures as the expenditures are paid, rather than when the rehabilitation work is completed progress expenditures under section 47 (d) of the Internal Revenue Code, the person shall file an election form with the department, in the manner prescribed by the department.
S ECTION 22.
71.28 (6) (h) of the statutes is amended to read:
71.28 (6) (h) Any person, including a nonprofit entity described in section 501 (c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under par.
(a) 2m.
or, 3., or 4., in whole or in part, to another person who is subject to the taxes imposed under s.
71.02, 71.23, or 71.43, if the person notifies the department of the transfer, and submits with the notification a copy of the transfer documents, and the department certifies ownership of the credit with each transThe.
transferor may file a claim for more than one taxable year on a form prescribed by the department to compute all years of the credit under par.
(a) 2m.
or, 3., or 4., at the time of the transfer request.
The transferee may first use the credit to offset tax in the taxable year of the transferor in which the transfer occurs, and may use the - 2026 Legislature - 10 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 S ECTION 22 credit only to offset tax in taxable years otherwise allowed to be claimed and carried forward by the original claimant.
S ECTION 23.
71.47 (6) (a) 1m.
of the statutes is repealed.
S ECTION 24.
71.47 (6) (a) 2m.
of the statutes is amended to read:
71.47 (6) (a) 2m.
For taxable years beginning after December 31, 2013, and before January 1, 2026, any person may claim as a credit against taxes otherwise due under s.
71.43, up to the amount of those taxes, an amount equal to 20 percent of the costs of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue Code, for certified historic structures on property located in this state, if the cost of the person’s qualified rehabilitation expenditures is at least $50,000 and the rehabilitated property is placed in service after December 31, 2013, and before January 1, 2026.
S ECTION 25.
71.47 (6) (a) 3.
of the statutes is amended to read:
71.47 (6) (a) 3.
For taxable years beginning after December 31, 2013, and before January 1, 2026, any person may claim as a credit against taxes otherwise due under s.
71.43, up to the amount of those taxes, an amount equal to 20 percent of the costs of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue Code, for qualified rehabilitated buildings, as defined in section 47 (c) (1) of the Internal Revenue Code, on property located in this state, if the cost of the person’s qualified rehabilitation expenditures is at least $50,000 and the rehabilitated property is placed in service after December 31, 2013, and before January 1, 2026, and regardless of whether the rehabilitated property is used for multiple or revenue-providing purposes.
No credit may be claimed under this subdivision for property listed as a contributing building in the state register of - 2026 Legislature - 11 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 S ECTION 25 historic places or in the national register of historic places and no credit may be claimed under this subdivision for nonhistoric, nonresidential property converted into housing if the property has been previously used for housing.
S ECTION 26.
71.47 (6) (a) 4.
of the statutes is created to read:
71.47 (6) (a) 4.
For taxable years beginning after December 31, 2025, any person may claim as a credit against taxes otherwise due under s.
71.43, up to the amount of those taxes, an amount equal to 20 percent of the qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue Code, for a qualified rehabilitated building located in this state and placed in service after December 31, 2025.
For purposes of this subdivision, “qualified rehabilitated building” has the meaning given in section 47 (c) (1) of the Internal Revenue Code, except that a building shall be treated as having been substantially rehabilitated under section 47 (c) (1) (B) (i) of the Internal Revenue Code only if the qualified rehabilitation expenditures during the 24-month period selected by the taxpayer (at the time and in the manner prescribed by federal regulations) and ending with or within the taxable year are at least $50,000.
S ECTION 27.
71.47 (6) (c) (intro.) of the statutes is amended to read:
71.47 (6) (c) (intro.) No person may claim the credit under par.
(a) 2m.
or 4.
unless the claimant includes with the claimant’s return a copy of the claimant’s certification under s.
238.1For certification purposes under s.
238.17, the claimant shall provide to the Wisconsin Economic Development Corporation all of the following:
S ECTION 28.
71.47 (6) (c) 1.
of the statutes is amended to read:
71.47 (6) (c) 1.
Evidence If the claimant claims the credit under section 47 of - 2026 Legislature - 12 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 S ECTION 28 the Internal Revenue Code for the same rehabilitation, evidence that the rehabilitation was recommended by the state historic preservation officer for approval by the secretary of the interior under 36 CFR 67.6 before the physical work of construction, or destruction in preparation for construction, began and that the rehabilitation was approved by the state historic preservation offIf the claimant does not claim the credit under section 47 of the Internal Revenue Code for the same rehabilitation, evidence that the rehabilitation was approved by the state historic preservation officer before the physical work of construction, or destruction in preparation for construction, began.
S ECTION 29.
71.47 (6) (ck) of the statutes is created to read:
71.47 (6) (ck) A credit claimed under par.
(a) 4.
shall be claimed in the taxable year in which the qualified rehabilitated building is placed in service, unless the taxpayer makes the election under par.
(g) 1.
to claim the credit based on progress expenditures under section 47 (d) of the Internal Revenue Code.
S ECTION 30.
71.47 (6) (cm) of the statutes is amended to read:
71.47 (6) (cm) Any credit claimed under this subsection for Wisconsin purposes par.
(a) 2m.
or 3.
shall be claimed at the same time as for federal purposes.
S ECTION 31.
71.47 (6) (cn) (intro.) of the statutes is amended to read:
71.47 (6) (cn) (intro.) For taxable years beginning after December 31, 2014, and before January 1, 2026, the Wisconsin Economic Development Corporation shall certify a person to claim a credit under par.
(a) 3.
if all of the following apply:
S ECTION 32.
71.47 (6) (g) 1.
of the statutes is amended to read:
71.47 (6) (g) 1.
If a person who claims the credit under this subsection under par.
(a) 2m, 3., or 4.
elects to claim the credit based on claiming amounts for - 2026 Legislature - 13 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 S ECTION 32 expenditures as the expenditures are paid, rather than when the rehabilitation work is completed progress expenditures under section 47 (d) of the Internal Revenue Code, the person shall file an election form with the department, in the manner prescribed by the department.
S ECTION 33.
71.47 (6) (h) of the statutes is amended to read:
71.47 (6) (h) Any person, including a nonprofit entity described in section 501 (c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under par.
(a) 2m.
or, 3., or 4., in whole or in part, to another person who is subject to the taxes imposed under s.
71.02, 71.23, or 71.43, if the person notifies the department of the transfer, and submits with the notification a copy of the transfer documents, and the department certifies ownership of the credit with each transThe.
transferor may file a claim for more than one taxable year on a form prescribed by the department to compute all years of the credit under par.
(a) 2m.
or, 3., or 4., at the time of the transfer request.
The transferee may first use the credit to offset tax in the taxable year of the transferor in which the transfer occurs, and may use the credit only to offset tax in taxable years otherwise allowed to be claimed and carried forward by the original claimant.
S ECTION 34.
238.17 (2) of the statutes is amended to read:
238.17 (2) Beginning July 1, 2018, the corporation may not certify persons to claim more than a total of $3,500,000 in tax credits within a single 10-year period for all projects undertaken on the same parcel.
S ECTION 35.
Nonstatutory provisions.
(1) The amendments to ss.
71.07 (9m) (a) 2m.
and 3., 71.28 (6) (a) 2m.
and 3., and 71.47 (6) (a) 2m.
and 3.
do not affect the ability of a claimant who claims a - 2026 Legislature - 14 - LRB-3841/1 EKL&MDE:cdc SENATE BILL 382 S ECTION 35 credit under s.
71.07 (9m) (a) 2m.
or 3., 71.28 (6) (a) 2m.
or 3., or 71.47 (6) (a) 2m.
or 3.
for a taxable year beginning before January 1, 2026, and who is subject to the timing requirement in section 47 (a) (2) of the Internal Revenue Code under s.
71.07 (9m) (cm), 71.28 (6) (cm), or 71.47 (6) (cm), to claim any remaining ratable share of the credit in a taxable year beginning after December 31, 2025.
END )
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Action History

  1. Failed to pass pursuant to Senate Joint Resolution 1

  2. Representative J. Jacobson added as a cosponsor

  3. Senator Ratcliff added as a coauthor

  4. Representative Anderson added as a cosponsor

  5. Representative Miresse added as a cosponsor

  6. Representative Palmeri added as a cosponsor

  7. Senator Larson added as a coauthor

  8. Representative McCarville added as a cosponsor

  9. Available for scheduling

  10. Report passage as amended recommended by Committee on Agriculture and Revenue, Ayes 8, Noes 0

  11. Report adoption of Senate Amendment 1 recommended by Committee on Agriculture and Revenue, Ayes 8, Noes 0

  12. Executive action taken

  13. Representative Snodgrass added as a cosponsor

  14. Senate Amendment 1 offered by Senator Feyen

  15. Public hearing held

  16. Fiscal estimate received

  17. Fiscal estimate received

  18. Read first time and referred to Committee on Agriculture and Revenue

  19. Introduced by Senators Feyen, Dassler-Alfheim, Habush Sinykin, L. Johnson and Spreitzer; cosponsored by Representatives Armstrong, Kreibich, Joers, Moses, Mursau, Ortiz-Velez, Tittl, Tranel and Udell

Sponsors

  • LaTonya Johnson · Cosponsor
  • Habush Sinykin · Cosponsor
  • Dan Feyen · Primary
  • Kristin Dassler-Alfheim · Cosponsor
  • Mark Spreitzer · Cosponsor
  • Armstrong · Cosponsor
  • Kreibich · Cosponsor
  • Joers · Cosponsor
  • Moses · Cosponsor
  • Mursau · Cosponsor
  • Ortiz-Velez · Cosponsor
  • Tittl · Cosponsor
  • Tranel · Cosponsor
  • Udell · Cosponsor

Sponsorship breakdown

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1 sponsors · 13 co-sponsors · 118 not signed on

Sponsors (1)

Co-sponsors (13)

Not signed on (118)

118 members have not signed on to this bill.

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"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.

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Frequently asked questions

What does SB 382 do?
An Act to repeal 71.07 (9m) (a) 1m., 71.28 (6) (a) 1m. and 71.47 (6) (a) 1m.; to amend 71.07 (9m) (a) 2m., 71.07 (9m) (a) 3., 71.07 (9m) (c) (intro.), 71.07 (9m) (c) 1., 71.07 (9m) (cm), 71.07 (9m) (cn) (intro.), 71.07 (9m) (g) 1., 71.07 (9m) (h), 71.28 (6) (a) 2m., 71.28 (6) (a) 3., 71.28 (6) (c) (intro.), 71.28 (6) (c) 1., 71.28 (6) (cm), 71.28 (6) (cn) (intro.), 71.28 (6) (g) 1., 71.28 (6) (h), 71.47 (6) (a) 2m., 71.47 (6) (a) 3., 71.47 (6) (c) (intro.), 71.47 (6) (c) 1., 71.47 (6) (cm), 71.47 (6) (cn) (intro.), 71.47 (6) (g) 1., 71.47 (6) (h) and 238.17 (2); to create 71.07 (9m) (a) 4., 71.07 (9m) (ck), 71.28 (6) (a) 4., 71.28 (6) (ck), 71.47 (6) (a) 4. and 71.47 (6) (ck) of the statutes;
Who sponsors SB 382?
SB 382 is sponsored by Johnson, LaTonya (Democrat), Habush Sinykin, Feyen, Dan (Republican), Dassler-Alfheim, Kristin (Democrat), Spreitzer, Mark (Democrat), Armstrong, Kreibich, Joers, Moses, Mursau, Ortiz-Velez, Tittl, Tranel, and Udell.
What is the current status of SB 382?
This bill has been introduced in the Senate. Introduced July 28, 2025. It must pass committee before a floor vote.
Where can I track SB 382?
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