2013 - 2014 LEGISLATURE
March 6, 2013 - Offered by Representatives Milroy, Genrich, Shankland, Mason,
Richards, Danou, Johnson, Barnes, Goyke, Wright, Billings, Hebl, Pope,
Ringhand, Pasch, Wachs, Bernard Schaber, Hulsey, Berceau, Bewley,
Zepnick, Hesselbein, Kessler and Smith.
SB1-AA14,1,21 At the locations indicated, amend the bill, as shown by senate substitute
2amendment 2, as follows:
SB1-AA14,1,3 31. Page 7, line 4: after that line insert:
SB1-AA14,1,4 4" Section 29d. 70.375 (2) (a) of the statutes is amended to read:
SB1-AA14,1,125 70.375 (2) (a) In Except as provided in subs. (2b) and (2c), with respect to mines
6not in operation on November 28, 1981, there is imposed upon persons engaged in
7mining metalliferous minerals in this state a net proceeds occupation tax effective
8on the date on which extraction begins to compensate the state and municipalities
9for the loss of valuable, irreplaceable metalliferous minerals. The amount of the tax
10shall be determined by applying the rates established under sub. (5) to the net
11proceeds of each mine. The net proceeds of each mine for each year are the difference
12between the gross proceeds and the deductions allowed under sub. (4) for the year.
SB1-AA14,29e 13Section 29e. 70.375 (2b) of the statutes is created to read:
170.375 (2b) Minimum tax. With respect to mines in operation after December
231, 2012, beginning with the first month of extraction, for the first 60 months in
3which a person is extracting ferrous metallic minerals in this state, the amount of
4the tax imposed on that person is the greater of the tax computed under sub. (2) for
5the year in which extraction occurs or an amount equal to $416,667 for each month
6in which extraction occurs.
SB1-AA14,29f 7Section 29f. 70.375 (2c) of the statutes is created to read:
SB1-AA14,2,188 70.375 (2c) Credit. With respect to mines in operation after December 31,
92012, if a person subject to sub. (2b) would have paid less tax under sub. (2) than
10under sub. (2b), the person may claim as a credit against the tax imposed under sub.
11(2) or (2b) an amount equal to the difference between the amount paid under sub. (2b)
12and the amount that the person would have paid under sub. (2), except that the
13person may not claim a credit amount that would result in less than the total
14minimum tax liability computed under sub. (2b), less any credit amount claimed
15under s. 70.395 (2) (dg), for the first 60 months in which a person is extracting ferrous
16metallic minerals in this state. The person may carry forward the amount of any
17unused credit under this subsection to claim against the person's tax liability in
18subsequent years until the total amount of the credit is used.".
SB1-AA14,2,1919 (End)