LRB-1134/P1
JK:amn
2017 - 2018 LEGISLATURE
DOA:......Quinn, BB0151 - DOR authority for WEDC credit claw-backs
For 2017-2019 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
taxation
Income taxation
This bill allows DOR to recover all or part of any tax credit allocated by WEDC for which WEDC has revoked its allocation.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 71.77 (2n) of the statutes is created to read:
71.77 (2n) Notwithstanding sub. (2), the department may make an assessment to recover all or a part of any tax credit allocated by the Wisconsin Economic Development Corporation if the corporation has revoked the allocation and provided notice of the revocation to the department within one year of providing notice of the revocation to the taxpayer.
(End)
