WI SB529

Repeals numerous obsolete Wisconsin tax credits including the development zones credit, dairy and livestock farm investment credit, early stage seed investment credit, jobs credit, economic development tax credit, manufacturing and agriculture credit, electronic medical records credit, and ethanol/biodiesel fuel pump credit

Eliminates the Wisconsin alternative minimum tax (AMT) for individuals, effective January 1, 2031

Removes outdated individual income tax rate brackets and provisions that applied to taxable years prior to 2024, consolidating to current rate structures

Repeals the Wisconsin Economic Development Corporation (WEDC) programs related to development opportunity zones, technology zones, and enterprise development zones, along with their associated tax benefits

Phases in the various repeals over multiple years from 2026 through 2043, with different effective dates for different provisions to accommodate existing credit carryforwards and taxpayer obligations