MADISON – Today, Governor Tony Evers signed Senate Bill (SB) 387, into law. This bipartisan legislation was authored by Representatives Don Vruwink (D-Milton) and James Edming (R-Glen Flora), and Senator Howard Marklein (R-Spring Green).
SB 387 is a fix to the state's manufacturing and agriculture tax credit. Prior to the enactment of this legislation, crop insurance payments were not considered production gross receipts, which is used to calculate the credit, even though these payments are considered taxable income. SB 387 corrects this problem by modifying the definition of production gross receipts to include crop insurance payments.
“I am pleased to see this important bipartisan reform to our state’s manufacturing and agriculture tax credit become law today,” said Rep. Edming.
“The unusually wet weather that we have experienced over the past year will likely increase the number of crop insurance claims. The simple change made by this legislation will have a meaningful impact across our state by allowing more folks to utilize this tax credit and create a fairer playing field for farmers who have experienced a loss due to forces of nature.”
SB 387 is now 2019 Wisconsin Act 167.
The 87th Assembly District includes portions of Clark, Marathon, Rusk, Sawyer and Taylor Counties.