Wisconsin AB1 creates income tax subtractions for qualified tips and overtime compensation, provides surplus refund payments, increases funding for.
Wisconsin AB1 introduces an income tax subtraction for qualified tips and qualified overtime compensation, allowing taxpayers to deduct these amounts on their federal income tax returns. It also provides surplus refund payments to eligible taxpayers and increases funding for special education and school age parents programs. The bill adjusts state aid to technical colleges, increasing funding by $50,000,000 while reducing the revenue limit for technical college districts.
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