AB 618

This bill provides tax incentives to encourage the development and operation of nuclear energy facilities in Wisconsin. It creates a sales and use tax exemption for materials and equipment purchased by construction contractors that become part of a nuclear energy facility, with the exemption requiring certification from the Wisconsin Economic Development Corporation and remaining valid for five years or until the facility receives its federal operating license. Additionally, the bill establishes income and franchise tax credits for electric utilities, cooperatives, and qualified wholesale electric companies equal to 100% of wages paid to full-time employees at nuclear facilities and capital expenditures for construction, improvement, and operation of these facilities (excluding land acquisition costs). These tax benefits would become available for taxable years beginning after December 31, 2027, and represent a significant financial incentive package designed to make nuclear energy development more economically viable in Wisconsin.