MADISON, WI – Today the Senate passed AB 532. Senator Feyen authored this bill to encourage Wisconsin investors to keep their dollars in the State by participating in Opportunity Zones. Under this bill, a taxpayer can decrease the amount of capital gains subject to state income and franchise taxation when investing in an opportunity zone in Wisconsin.
“This bipartisan legislation will drive much-needed private capital to economically challenged areas of the state,” said Senator Feyen. “It will accelerate economic growth and job creation across the board.”
This legislation will make Wisconsin’s 120 Opportunity Zones a more attractive investment by doubling the tax exclusion at the state level for investors in Wisconsin Qualified Opportunity Funds. Investors would receive an additional 10% state capital gains tax reduction if they hold an investment for at least five years, and an additional 15% after seven years.
The 18th Senate District has Opportunity Zones in both Fond du Lac and Oshkosh. To learn more about Wisconsin’s Opportunity zones visit the Wisconsin Housing and Economic Development Authority’s website.