Relating to: an income tax subtraction for qualified tips and for qualified overtime compensation; state aid for school districts; surplus refund payments; increasing funding for special education and school age parents programs; state aid to technical colleges and the technical college district revenue limit; and making an appropriation. (FE)

This bill proposes changes to Wisconsin state income tax calculations and education funding, primarily affecting individual taxpayers and school districts. It allows residents to subtract certain qualified tips and overtime compensation from their taxable income, aligning state rules more closely with federal tax deductions for these earnings. Additionally, the legislation increases state aid for school districts, special education programs, and technical colleges while adjusting how surplus refund payments are handled. The bill also updates the definition of "income" for tax purposes to include specific items like capital gains and certain public assistance benefits.