LRBs0478/2
JK&MES:cmh/kf/jd:jf
2005 - 2006 LEGISLATURE
SENATE SUBSTITUTE AMENDMENT 1,
TO 2005 SENATE BILL 136
January 26, 2006 - Offered by
Joint Committee on Finance.
SB136-SSA1,1,11
1An Act to amend 71.07 (2dm) (a) 1., 71.07 (2dm) (a) 3., 71.07 (2dm) (f) 1., 71.07
2(2dm) (j), 71.07 (2dm) (k), 71.07 (2dx) (a) 2., 71.07 (2dx) (b) (intro.), 71.07 (2dx)
3(c), 71.07 (2dx) (d), 71.28 (1dm) (a) 1., 71.28 (1dm) (a) 3., 71.28 (1dm) (f) 1., 71.28
4(1dm) (j), 71.28 (1dm) (k), 71.28 (1dx) (a) 2., 71.28 (1dx) (b) (intro.), 71.28 (1dx)
5(c), 71.28 (1dx) (d), 71.47 (1dm) (a) 1., 71.47 (1dm) (a) 3., 71.47 (1dm) (f) 1., 71.47
6(1dm) (j), 71.47 (1dm) (k), 71.47 (1dx) (a) 2., 71.47 (1dx) (b) (intro.), 71.47 (1dx)
7(c), 71.47 (1dx) (d), 234.03 (2m), 234.03 (11), 234.08 (1), 234.265 (2), 234.40 (4),
8234.50 (4), 234.60 (2), 234.61 (1) and 234.66 (3) (b); and
to create 234.63 and
9560.799 of the statutes;
relating to: creating income and franchise tax credits
10for businesses located in an airport development zone and a loan program for
11certain construction projects in an airport development zone.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB136-SSA1, s. 1
1Section
1. 71.07 (2dm) (a) 1. of the statutes is amended to read:
SB136-SSA1,2,32
71.07
(2dm) (a) 1. "Certified" means entitled under s. 560.795 (3) (a) 4. to claim
3tax benefits or certified under s. 560.795 (5)
or, 560.798 (3)
, or 560.799 (4).
SB136-SSA1, s. 2
4Section
2. 71.07 (2dm) (a) 3. of the statutes is amended to read:
SB136-SSA1,2,75
71.07
(2dm) (a) 3. "Development zone" means a development opportunity zone
6under s. 560.795 (1) (e) and (f) or 560.798
, or an airport development zone under s.
7560.799.
SB136-SSA1, s. 3
8Section
3. 71.07 (2dm) (f) 1. of the statutes is amended to read:
SB136-SSA1,2,119
71.07
(2dm) (f) 1. A copy of a verification from the department of commerce that
10the claimant may claim tax benefits under s. 560.795 (3) (a) 4. or is certified under
11s. 560.795 (5)
or, 560.798 (3)
, or 560.799 (4).
SB136-SSA1, s. 4
12Section
4. 71.07 (2dm) (j) of the statutes is amended to read:
SB136-SSA1,2,2213
71.07
(2dm) (j) If a person who is entitled under s. 560.795 (3) (a) 4. to claim
14tax benefits becomes ineligible for such tax benefits, or if a person's certification
15under s. 560.795 (5)
or, 560.798 (3)
, or 560.799 (4) is revoked, that person may claim
16no credits under this subsection for the taxable year that includes the day on which
17the person becomes ineligible for tax benefits, the taxable year that includes the day
18on which the certification is revoked, or succeeding taxable years, and that person
19may carry over no unused credits from previous years to offset tax under this chapter
20for the taxable year that includes the day on which the person becomes ineligible for
21tax benefits, the taxable year that includes the day on which the certification is
22revoked, or succeeding taxable years.
SB136-SSA1, s. 5
23Section
5. 71.07 (2dm) (k) of the statutes is amended to read:
SB136-SSA1,3,424
71.07
(2dm) (k) If a person who is entitled under s. 560.795 (3) (a) 4. to claim
25tax benefits or certified under s. 560.795 (5)
or, 560.798 (3)
, or 560.799 (4) ceases
1business operations in the development zone during any of the taxable years that
2that zone exists, that person may not carry over to any taxable year following the
3year during which operations cease any unused credits from the taxable year during
4which operations cease or from previous taxable years.
SB136-SSA1, s. 6
5Section
6. 71.07 (2dx) (a) 2. of the statutes is amended to read:
SB136-SSA1,3,96
71.07
(2dx) (a) 2. "Development zone" means a development zone under s.
7560.70, a development opportunity zone under s. 560.795, an enterprise
8development zone under s. 560.797,
or an agricultural development zone under s.
9560.798
, or an airport development zone under s. 560.799.
SB136-SSA1,3,1612
71.07
(2dx) (b)
Credit. (intro.) Except as provided in pars. (be) and (bg) and
13in s. 73.03 (35), and subject to s. 560.785, for any taxable year for which the person
14is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3),
15560.797 (4)
or, 560.798 (3)
, or 560.799 (4), any person may claim as a credit against
16the taxes otherwise due under this chapter the following amounts:
SB136-SSA1, s. 8
17Section
8. 71.07 (2dx) (c) of the statutes is amended to read:
SB136-SSA1,4,218
71.07
(2dx) (c)
Credit precluded. If the certification of a person for tax benefits
19under s. 560.765 (3), 560.797 (4)
or, 560.798 (3)
, or 560.799 (4) is revoked, or if the
20person becomes ineligible for tax benefits under s. 560.795 (3), that person may not
21claim credits under this subsection for the taxable year that includes the day on
22which the certification is revoked; the taxable year that includes the day on which
23the person becomes ineligible for tax benefits; or succeeding taxable years and that
24person may not carry over unused credits from previous years to offset tax under this
25chapter for the taxable year that includes the day on which certification is revoked;
1the taxable year that includes the day on which the person becomes ineligible for tax
2benefits; or succeeding taxable years.
SB136-SSA1, s. 9
3Section
9. 71.07 (2dx) (d) of the statutes is amended to read:
SB136-SSA1,4,104
71.07
(2dx) (d)
Carry-over precluded. If a person who is entitled under s.
5560.795 (3) to claim tax benefits or certified under s. 560.765 (3), 560.797 (4)
or, 6560.798 (3)
, or 560.799 (4) for tax benefits ceases business operations in the
7development zone during any of the taxable years that that zone exists, that person
8may not carry over to any taxable year following the year during which operations
9cease any unused credits from the taxable year during which operations cease or
10from previous taxable years.
SB136-SSA1, s. 10
11Section
10. 71.28 (1dm) (a) 1. of the statutes is amended to read:
SB136-SSA1,4,1312
71.28
(1dm) (a) 1. "Certified" means entitled under s. 560.795 (3) (a) 4. to claim
13tax benefits or certified under s. 560.795 (5)
or, 560.798 (3)
, or 560.799 (4).
SB136-SSA1, s. 11
14Section
11. 71.28 (1dm) (a) 3. of the statutes is amended to read:
SB136-SSA1,4,1715
71.28
(1dm) (a) 3. "Development zone" means a development opportunity zone
16under s. 560.795 (1) (e) and (f) or 560.798
, or an airport development zone under s.
17560.799.
SB136-SSA1, s. 12
18Section
12. 71.28 (1dm) (f) 1. of the statutes is amended to read:
SB136-SSA1,4,2119
71.28
(1dm) (f) 1. A copy of a verification from the department of commerce that
20the claimant may claim tax benefits under s. 560.795 (3) (a) 4. or is certified under
21s. 560.795 (5)
or, 560.798 (3)
, or 560.799 (4).
SB136-SSA1,5,723
71.28
(1dm) (j) If a person who is entitled under s. 560.795 (3) (a) 4. to claim
24tax benefits becomes ineligible for such tax benefits, or if a person's certification
25under s. 560.795 (5)
or, 560.798 (3)
, or 560.799 (4) is revoked, that person may claim
1no credits under this subsection for the taxable year that includes the day on which
2the person becomes ineligible for tax benefits, the taxable year that includes the day
3on which the certification is revoked, or succeeding taxable years, and that person
4may carry over no unused credits from previous years to offset tax under this chapter
5for the taxable year that includes the day on which the person becomes ineligible for
6tax benefits, the taxable year that includes the day on which the certification is
7revoked, or succeeding taxable years.
SB136-SSA1,5,149
71.28
(1dm) (k) If a person who is entitled under s. 560.795 (3) (a) 4. to claim
10tax benefits or certified under s. 560.795 (5)
or, 560.798 (3)
, or 560.799 (4) ceases
11business operations in the development zone during any of the taxable years that
12that zone exists, that person may not carry over to any taxable year following the
13year during which operations cease any unused credits from the taxable year during
14which operations cease or from previous taxable years.
SB136-SSA1, s. 15
15Section
15. 71.28 (1dx) (a) 2. of the statutes is amended to read:
SB136-SSA1,5,1916
71.28
(1dx) (a) 2. "Development zone" means a development zone under s.
17560.70, a development opportunity zone under s. 560.795, an enterprise
18development zone under s. 560.797,
or an agricultural development zone under s.
19560.798
, or an airport development zone under s. 560.799.
SB136-SSA1,6,222
71.28
(1dx) (b)
Credit. (intro.) Except as provided in pars. (be) and (bg) and
23in s. 73.03 (35), and subject to s. 560.785, for any taxable year for which the person
24is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3),
1560.797 (4)
or, 560.798 (3)
, or 560.799 (4), any person may claim as a credit against
2the taxes otherwise due under this chapter the following amounts:
SB136-SSA1,6,134
71.28
(1dx) (c)
Credit precluded. If the certification of a person for tax benefits
5under s. 560.765 (3), 560.797 (4)
or, 560.798 (3)
, or 560.799 (4) is revoked, or if the
6person becomes ineligible for tax benefits under s. 560.795 (3), that person may not
7claim credits under this subsection for the taxable year that includes the day on
8which the certification is revoked; the taxable year that includes the day on which
9the person becomes ineligible for tax benefits; or succeeding taxable years and that
10person may not carry over unused credits from previous years to offset tax under this
11chapter for the taxable year that includes the day on which certification is revoked;
12the taxable year that includes the day on which the person becomes ineligible for tax
13benefits; or succeeding taxable years.
SB136-SSA1,6,2115
71.28
(1dx) (d)
Carry-over precluded. If a person who is entitled under s.
16560.795 (3) to claim tax benefits or certified under s. 560.765 (3), 560.797 (4)
or, 17560.798 (3)
, or 560.799 (4) for tax benefits ceases business operations in the
18development zone during any of the taxable years that that zone exists, that person
19may not carry over to any taxable year following the year during which operations
20cease any unused credits from the taxable year during which operations cease or
21from previous taxable years.
SB136-SSA1, s. 19
22Section
19. 71.47 (1dm) (a) 1. of the statutes is amended to read:
SB136-SSA1,6,2423
71.47
(1dm) (a) 1. "Certified" means entitled under s. 560.795 (3) (a) 4. to claim
24tax benefits or certified under s. 560.795 (5)
or, 560.798 (3)
, or 560.799 (4).
SB136-SSA1, s. 20
25Section
20. 71.47 (1dm) (a) 3. of the statutes is amended to read:
SB136-SSA1,7,3
171.47
(1dm) (a) 3. "Development zone" means a development opportunity zone
2under s. 560.795 (1) (e) and (f) or 560.798
, or an airport development zone under s.
3560.799.
SB136-SSA1, s. 21
4Section
21. 71.47 (1dm) (f) 1. of the statutes is amended to read:
SB136-SSA1,7,75
71.47
(1dm) (f) 1. A copy of a verification from the department of commerce that
6the claimant may claim tax benefits under s. 560.795 (3) (a) 4. or is certified under
7s. 560.795 (5)
or, 560.798 (3)
, or 560.799 (4).
SB136-SSA1,7,189
71.47
(1dm) (j) If a person who is entitled under s. 560.795 (3) (a) 4. to claim
10tax benefits becomes ineligible for such tax benefits, or if a person's certification
11under s. 560.795 (5)
or, 560.798 (3)
, or 560.799 (4) is revoked, that person may claim
12no credits under this subsection for the taxable year that includes the day on which
13the person becomes ineligible for tax benefits, the taxable year that includes the day
14on which the certification is revoked, or succeeding taxable years, and that person
15may carry over no unused credits from previous years to offset tax under this chapter
16for the taxable year that includes the day on which the person becomes ineligible for
17tax benefits, the taxable year that includes the day on which the certification is
18revoked, or succeeding taxable years.
