SB463,3,147 (e) Partnerships, limited liability companies and tax-option corporations may
8not claim the credit under this subsection, but the eligibility for, and the amount of,
9the credit are based on the amounts paid or incurred under par. (b). A partnership,
10limited liability company or tax-option corporation shall compute the amount of
11credit that each of its partners, members or shareholders may claim and shall
12provide that information to each of them. Partners, members of limited liability
13companies and shareholders of tax-option corporations may claim the credit in
14proportion to their ownership interest.
SB463,3,1615 (f) Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4),
16applies to the credit under this subsection.
SB463, s. 3 17Section 3. 71.10 (4) (cp) of the statutes is created to read:
SB463,3,1818 71.10 (4) (cp) Solar energy system credit under s. 71.07 (5d).
SB463, s. 4 19Section 4. 71.21 (4) of the statutes is amended to read:
SB463,3,2220 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di),
21(2dj), (2dL), (2ds), (2dx) and, (3s) and (5d) and passed through to partners shall be
22added to the partnership's income.
SB463, s. 5 23Section 5. 71.26 (2) (a) of the statutes is amended to read:
SB463,4,1324 71.26 (2) (a) Corporations in general. The "net income" of a corporation means
25the gross income as computed under the internal revenue code as modified under

1sub. (3) minus the amount of recapture under s. 71.28 (1di) plus the amount of credit
2computed under s. 71.28 (1) and (3) to (5) plus the amount of the credit computed
3under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds) and , (1dx) and (5d) and not passed
4through by a partnership, limited liability company or tax-option corporation that
5has added that amount to the partnership's, limited liability company's or tax-option
6corporation's income under s. 71.21 (4) or 71.34 (1) (g) plus the amount of losses from
7the sale or other disposition of assets the gain from which would be wholly exempt
8income, as defined in sub. (3) (L), if the assets were sold or otherwise disposed of at
9a gain and minus deductions, as computed under the internal revenue code as
10modified under sub. (3), plus or minus, as appropriate, an amount equal to the
11difference between the federal basis and Wisconsin basis of any asset sold,
12exchanged, abandoned or otherwise disposed of in a taxable transaction during the
13taxable year, except as provided in par. (b) and s. 71.45 (2) and (5).
SB463, s. 6 14Section 6. 71.28 (5d) of the statutes is created to read:
SB463,4,1515 71.28 (5d) Solar energy system credit. (a) In this subsection:
SB463,4,1616 1. "Claimant" means a person who files a claim under this subsection.
SB463,4,1817 2. "Photovoltaic solar energy system" has the meaning given in s. 13.48 (2) (h)
181. d.
SB463,4,1919 3. "Solar energy system" has the meaning given in s. 13.48 (2) (h) 1. g.
SB463,4,2120 (b) A claimant may claim as a credit against the tax imposed under s. 71.23 any
21of the following:
SB463,4,2522 1. An amount equal to 15% of the amount that the claimant paid or incurred
23to purchase and install a solar energy system to heat water, if that solar energy
24system is installed after December 31, 1999, and before January 1, 2005. A credit
25claimed under this subdivision may not exceed $1,000 in a taxable year.
SB463,5,5
12. An amount equal to 15% of the amount that the claimant paid or incurred
2to purchase and install a rooftop photovoltaic solar energy system, if that rooftop
3photovoltaic solar energy system is installed after December 31, 1999, and before
4January 1, 2007. A credit claimed under this subdivision may not exceed $2,000 in
5a taxable year.
SB463,5,76 (c) A claimant may not claim a credit under this subsection for any amount that
7the claimant claimed as a credit under section 46 of the Internal Revenue Code.
SB463,5,98 (d) The carry-over provisions of sub. (4) (e) and (f), as they apply to the credit
9under sub. (4), apply to the credit under this subsection.
SB463,5,1710 (e) Partnerships, limited liability companies and tax-option corporations may
11not claim the credit under this subsection, but the eligibility for, and the amount of,
12the credit are based on the amounts paid or incurred under par. (b). A partnership,
13limited liability company or tax-option corporation shall compute the amount of
14credit that each of its partners, members or shareholders may claim and shall
15provide that information to each of them. Partners, members of limited liability
16companies and shareholders of tax-option corporations may claim the credit in
17proportion to their ownership interest.
SB463,5,1918 (f) Subsection (4) (g) and (h), as it applies to the credit under sub. (4), applies
19to the credit under this subsection.
SB463, s. 7 20Section 7. 71.30 (3) (dm) of the statutes is created to read:
SB463,5,2121 71.30 (3) (dm) Solar energy system credit under s. 71.28 (5d).
SB463, s. 8 22Section 8. 71.34 (1) (g) of the statutes is amended to read:
SB463,5,2523 71.34 (1) (g) An addition shall be made for credits computed by a tax-option
24corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx) and, (3) and (5d)
25and passed through to shareholders.
SB463, s. 9
1Section 9. 71.45 (2) (a) 10. of the statutes is amended to read:
SB463,6,72 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
3computed under s. 71.47 (1dd) to (1dx) and (5d) and not passed through by a
4partnership, limited liability company or tax-option corporation that has added that
5amount to the partnership's, limited liability company's or tax-option corporation's
6income under s. 71.21 (4) or 71.34 (1) (g) and the amount of credit computed under
7s. 71.47 (1), (3), (4) and (5).
SB463, s. 10 8Section 10. 71.47 (5d) of the statutes is created to read:
SB463,6,99 71.47 (5d) Solar energy system credit. (a) In this subsection:
SB463,6,1010 1. "Claimant" means a person who files a claim under this subsection.
SB463,6,1211 2. "Photovoltaic solar energy system" has the meaning given in s. 13.48 (2) (h)
121. d.
SB463,6,1313 3. "Solar energy system" has the meaning given in s. 13.48 (2) (h) 1. g.
SB463,6,1514 (b) A claimant may claim as a credit against the tax imposed under s. 71.43 any
15of the following:
SB463,6,1916 1. An amount equal to 15% of the amount that the claimant paid or incurred
17to purchase and install a solar energy system to heat water, if that solar energy
18system is installed after December 31, 1999, and before January 1, 2005. A credit
19claimed under this subdivision may not exceed $1,000 in a taxable year.
SB463,6,2420 2. An amount equal to 15% of the amount that the claimant paid or incurred
21to purchase and install a rooftop photovoltaic solar energy system, if that rooftop
22photovoltaic solar energy system is installed after December 31, 1999, and before
23January 1, 2007. A credit claimed under this subdivision may not exceed $2,000 in
24a taxable year.
SB463,7,2
1(c) A claimant may not claim a credit under this subsection for any amount that
2the claimant claimed as a credit under section 46 of the Internal Revenue Code.
SB463,7,43 (d) The carry-over provisions of s. 71.28 (4) (e) and (f), as they apply to the credit
4under s. 71.28 (4), apply to the credit under this subsection.
SB463,7,125 (e) Partnerships, limited liability companies and tax-option corporations may
6not claim the credit under this subsection, but the eligibility for, and the amount of,
7the credit are based on the amounts paid or incurred under par. (b). A partnership,
8limited liability company or tax-option corporation shall compute the amount of
9credit that each of its partners, members or shareholders may claim and shall
10provide that information to each of them. Partners, members of limited liability
11companies and shareholders of tax-option corporations may claim the credit in
12proportion to their ownership interest.
SB463,7,1413 (f) Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4),
14applies to the credit under this subsection.
SB463, s. 11 15Section 11. 71.49 (1) (dm) of the statutes is created to read:
SB463,7,1616 71.49 (1) (dm) Solar energy system credit under s. 71.47 (5d).
SB463, s. 12 17Section 12. 77.92 (4) of the statutes, as affected by 1999 Wisconsin Act 9, is
18amended to read:
SB463,8,819 77.92 (4) "Net business income", with respect to a partnership, means taxable
20income as calculated under section 703 of the Internal Revenue Code; plus the items
21of income and gain under section 702 of the Internal Revenue Code, including taxable
22state and municipal bond interest and excluding nontaxable interest income or
23dividend income from federal government obligations; minus the items of loss and
24deduction under section 702 of the Internal Revenue Code, except items that are not
25deductible under s. 71.21; plus guaranteed payments to partners under section 707

1(c) of the Internal Revenue Code; plus the credits claimed under s. 71.07 (2dd), (2de),
2(2di), (2dj), (2dL), (2dr), (2ds), (2dx) and, (3s) and (5d); and plus or minus, as
3appropriate, transitional adjustments, depreciation differences and basis
4differences under s. 71.05 (13), (15), (16), (17) and (19); but excluding income, gain,
5loss and deductions from farming. "Net business income", with respect to a natural
6person, estate or trust, means profit from a trade or business for federal income tax
7purposes and includes net income derived as an employe as defined in section 3121
8(d) (3) of the Internal Revenue Code.
SB463, s. 13 9Section 13. Initial applicability.
SB463,8,1410 (1) Solar energy system credit. This act first applies to taxable years
11beginning on January 1 of the year in which this subsection takes effect, except that
12if this subsection takes effect after July 31 this act first applies to taxable years
13beginning on January 1 of the year after the year in which this subsection takes
14effect.
SB463,8,1515 (End)
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