All Roll Calls
Yes: 132 • No: 0
WisconsinAB6852025-2026 Wisconsin Legislature (Biennial Session)HouseWALLET
An Act to amend 71.07 (5) (a) 3.; to create 71.05 (6) (b) 57. of the statutes; Relating to: individual income tax subtraction for certain theft losses. (FE)
Sponsored By: Rob Swearingen (Republican)
Became Law
Crime and criminalsIncome tax -- DeductionLegislature -- Tax ExemptionsJoint Survey Committee on
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Tax break for financial exploitation losses
Beginning for tax years starting after December 31, 2023, you can subtract money stolen from your personal financial account due to financial exploitation. You must report the loss to law enforcement, and there must be no reasonable chance to get the money back through a lawsuit, insurance, or other payback. You can subtract only the part that was included in your federal gross income and otherwise taxed by Wisconsin. You take the subtraction in the year the money was withdrawn or paid out. You cannot also claim another deduction, exclusion, or credit for the same loss. If you later get any of that money back, you must include the recovered amount in your Wisconsin income in the year you receive it.
Sponsors & Cosponsors
Sponsor
Rob Swearingen
Republican • House
Cosponsors
Mary Felzkowski
Republican • Senate
Sylvia Ortiz-Velez
Democratic • House
Jeff Smith
Democratic • Senate
Patrick Snyder
Republican • House
Mark Spreitzer
Democratic • Senate
Roll Call Votes
Senate vote • 3/17/2026
Read a third time and concurred in, Ayes 33, Noes 0
Yes: 33 • No: 0
House vote • 2/17/2026
Read a third time and passed, Ayes 99, Noes 0
Yes: 99 • No: 0
Actions Timeline
Published 4-4-2026
4/3/2026HouseReport approved by the Governor on 4-3-2026. 2025 Wisconsin Act 192
4/3/2026HousePresented to the Governor on 4-2-2026
4/2/2026HouseReport correctly enrolled on 3-23-2026
3/23/2026HouseReceived from Senate concurred in
3/18/2026HouseOrdered immediately messaged
3/17/2026SenateSenator Smith added as a cosponsor
3/17/2026SenateRead a third time and concurred in, Ayes 33, Noes 0
3/17/2026SenateRules suspended to give bill its third reading
3/17/2026SenateOrdered to a third reading
3/17/2026SenateRead a second time
3/17/2026SenatePlaced on calendar 3-17-2026 pursuant to Senate Rule 18(1)
3/16/2026SenatePublic hearing requirement waived by committee on Senate Organization, pursuant to Senate Rule 18 (1m), Ayes 3, Noes 2
3/16/2026SenateAvailable for scheduling
3/3/2026SenateReport concurrence recommended by Joint Committee on Finance, Ayes 16, Noes 0
3/3/2026SenateExecutive action taken
3/3/2026SenateWithdrawn from committee on Senate Organization and rereferred to joint committee on Finance pursuant to Senate Rule 46(2)(c)
2/27/2026SenateAvailable for scheduling
2/20/2026SenateRead first time and referred to committee on Senate Organization
2/20/2026SenateReceived from Assembly
2/18/2026SenateOrdered immediately messaged
2/17/2026HouseRead a third time and passed, Ayes 99, Noes 0
2/17/2026HouseRules suspended
2/17/2026HouseOrdered to a third reading
2/17/2026HouseAssembly Substitute Amendment 2 adopted
2/17/2026House
Bill Text
Assembly Substitute Amendment 2
2/17/2026
Bill Text
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