LRB-2568/6
JK:jld:pg
2007 - 2008 LEGISLATURE
March 6, 2008 - Introduced by Representatives Berceau, Boyle, Van Akkeren,
Soletski, Black, Pocan, Albers, Seidel, Sherman, Hilgenberg and Parisi,
cosponsored by Senators Wirch, Lassa, Risser, Miller, Kreitlow and
Lehman. Referred to Committee on Ways and Means.
AB918,1,5
1An Act to amend 71.22 (4) (n), 71.22 (4) (o), 71.22 (4) (p), 71.22 (4) (q), 71.22 (4)
2(r), 71.22 (4) (s) and 71.22 (4) (t);
to repeal and recreate 71.26 (2) (b); and
to
3create 71.22 (9a), 71.22 (9c), 71.22 (9d) and 71.22 (9e) of the statutes;
relating
4to: income and franchise taxes imposed on real estate investment trusts and
5regulated investment companies.
Analysis by the Legislative Reference Bureau
This bill disregards certain transactions, for income and franchise tax
purposes, for amounts paid to a real estate investment trust if, generally, more than
50 percent of the voting power or value of the beneficial interests or shares of the trust
are owned or controlled by a single entity that is not a real estate investment trust
or otherwise exempt from state income and franchise taxes.
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:
AB918,4,7
171.22
(4) (n) Except as provided in sub. (4m) and ss. 71.26
(2) (b) and (3), 71.34
2(1g) and 71.42 (2), "Internal Revenue Code", for taxable years that begin after
3December 31, 1998, and before January 1, 2000, means the federal Internal
4Revenue Code as amended to December 31, 1998, excluding sections 103, 104, and
5110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
6103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188,
7and as amended by P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding
8sections 162 and 165 of P.L.
106-554, P.L.
107-16, excluding section 431 of P.L.
9107-16, P.L.
107-134, P.L.
107-147, excluding sections 101, 301 (a), and 406 of P.L.
10107-147, P.L.
107-181, P.L.
107-276, P.L.
108-121, excluding section 109 of P.L.
11108-121, P.L.
108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of P.L.
12108-311, P.L.
108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847,
13909, and 910 of P.L.
108-357, P.L.
109-7, P.L.
109-135, excluding sections 101, 105,
14201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
15109-135, and P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280, and as
16indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
17100-203, P.L.
100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821
18(b) (2), and 823 (c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
19101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
20excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
21103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
22103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188,
23excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
24104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
25105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections
1162 and 165 of P.L.
106-554, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
2107-134, P.L.
107-147, excluding sections 101, 301 (a), and 406 of P.L.
107-147, P.L.
3107-181, P.L.
107-276, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
4108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
5108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910
6of P.L.
108-357, P.L.
109-7, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
7relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, and
8P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280. The Internal Revenue
9Code applies for Wisconsin purposes at the same time as for federal purposes.
10Amendments to the federal Internal Revenue Code enacted after December 31, 1998,
11do not apply to this paragraph with respect to taxable years beginning after
12December 31, 1998, and before January 1, 2000, except that changes to the Internal
13Revenue Code made by P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554,
14excluding sections 162 and 165 of P.L.
106-554, P.L.
107-16, excluding section 431
15of P.L.
107-16, P.L.
107-134, P.L.
107-147, excluding sections 101, 301 (a), and 406
16of P.L.
107-147, P.L.
107-181, P.L.
107-276, P.L.
108-121, excluding section 109 of
17P.L.
108-121, P.L.
108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a)
18of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 211, 242, 244, 336, 337,
19422, 847, 909, and 910 of P.L.
108-357, P.L.
109-7, P.L.
109-135, excluding sections
20101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405
21of P.L.
109-135, and P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280,
22and changes that indirectly affect the provisions applicable to this subchapter made
23by P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and
24165 of P.L.
106-554, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-134,
25P.L.
107-147, excluding sections 101, 301 (a), and 406 of P.L.
107-147, P.L.
107-181,
1P.L.
107-276, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-311,
2excluding sections 306, 307, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
3excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
4108-357, P.L.
109-7, P.L.
109-135, excluding sections 101, 105, 201 (a) as it relates
5to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, and P.L.
6109-280, excluding sections 811 and 844 of P.L.
109-280, apply for Wisconsin
7purposes at the same time as for federal purposes.
AB918,7,310
71.22
(4) (o) Except as provided in sub. (4m) and ss. 71.26
(2) (b) and (3), 71.34
11(1g) and 71.42 (2), "Internal Revenue Code", for taxable years that begin after
12December 31, 1999, and before January 1, 2003, means the federal Internal Revenue
13Code as amended to December 31, 1999, excluding sections 103, 104, and 110 of P.L.
14102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66 15and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, and as
16amended by P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
17106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22,
18P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101, 301 (a), and 406 of
19P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
20excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section
21109 of P.L.
108-121, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308,
22316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 211,
23242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-7, P.L.
109-58,
24excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348,
25and 1351 of P.L.
109-58, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
1relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, and
2P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280, and as indirectly
3affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203,
4P.L.
100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and
5823 (c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
6101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
7103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
8sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
9103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
101123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
11104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
12106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
13P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
14107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101, 301 (a),
15and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
16108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding
17section 109 of P.L.
108-121, P.L.
108-218, P.L.
108-311, excluding sections 306, 307,
18308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
19211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-7, P.L.
20109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
211329, 1348, and 1351 of P.L.
109-58, P.L.
109-135, excluding sections 101, 105, 201
22(a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
23109-135, and P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280. The
24Internal Revenue Code applies for Wisconsin purposes at the same time as for federal
25purposes. Amendments to the federal Internal Revenue Code enacted after
1December 31, 1999, do not apply to this paragraph with respect to taxable years
2beginning after December 31, 1999, and before January 1, 2003, except that changes
3to the Internal Revenue Code made by P.L.
106-230, P.L.
106-554, excluding sections
4162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
5107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections
6101, 301 (a), and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
7107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
8108-121, excluding section 109 of P.L.
108-121, P.L.
108-218, P.L.
108-311,
9excluding sections 306, 307, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
10excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
11108-357, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310, 1323,
121324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-135, excluding
13sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
14(q), and 405 of P.L.
109-135, and P.L.
109-280, excluding sections 811 and 844 of P.L.
15109-280, and changes that indirectly affect the provisions applicable to this
16subchapter made by P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
17P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
18107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101, 301 (a),
19and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
20108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding
21section 109 of P.L.
108-121, P.L.
108-218, P.L.
108-311, excluding sections 306, 307,
22308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
23211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-7, P.L.
24109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
251329, 1348, and 1351 of P.L.
109-58, P.L.
109-135, excluding sections 101, 105, 201
1(a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
2109-135, and P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280, apply for
3Wisconsin purposes at the same time as for federal purposes.
AB918,9,186
71.22
(4) (p) Except as provided in sub. (4m) and ss. 71.26
(2) (b) and (3), 71.34
7(1g), and 71.42 (2), "Internal Revenue Code," for taxable years that begin after
8December 31, 2002, and before January 1, 2004, means the federal Internal Revenue
9Code as amended to December 31, 2002, excluding sections 103, 104, and 110 of P.L.
10102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
11sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
106-519,
12sections 162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, and
13sections 101 and 301 (a) of P.L.
107-147, and as amended by P.L.
108-27, excluding
14sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section 109 of P.L.
15108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
16108-218, P.L.
108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of P.L.
17108-311, P.L.
108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847,
18909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
109-7, P.L.
109-58, excluding
19sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351
20of P.L.
109-58, P.L.
109-135, excluding sections 101, 105, 201 (a) as it relates to
21section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, and P.L.
22109-280, excluding sections 811 and 844 of P.L.
109-280, and as indirectly affected
23in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
24100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823
25(c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
1101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
2103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
3sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
4103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
51123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
6104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
7106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
8P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
9107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101 and 301 (a)
10of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
11excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section
12109 of P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
13108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308, 316, 401, and
14403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 211, 242, 244, 336,
15337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
109-7, P.L.
109-58,
16excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348,
17and 1351 of P.L.
109-58, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
18relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, and
19P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280. The Internal Revenue
20Code applies for Wisconsin purposes at the same time as for federal purposes.
21Amendments to the federal Internal Revenue Code enacted after December 31, 2002,
22do not apply to this paragraph with respect to taxable years beginning after
23December 31, 2002, and before January 1, 2004, except that changes to the Internal
24Revenue Code made by P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
25108-27, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-173, excluding
1section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding
2sections 306, 307, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding
3sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
4108-375, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310, 1323,
51324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-135, excluding
6sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
7(q), and 405 of P.L.
109-135, and P.L.
109-280, excluding sections 811 and 844 of P.L.
8109-280, and changes that indirectly affect the provisions applicable to this
9subchapter made by P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
108-27,
10P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-173, excluding section
111201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections
12306, 307, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections
13101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
14108-375, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310, 1323,
151324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-135, excluding
16sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
17(q), and 405 of P.L.
109-135, and P.L.
109-280, excluding sections 811 and 844 of P.L.
18109-280, apply for Wisconsin purposes at the same time as for federal purposes.
AB918,9,2521
71.22
(4) (q) Except as provided in sub. (4m) and ss. 71.26
(2) (b) and (3), 71.34
22(1g), and 71.42 (2), "Internal Revenue Code," for taxable years that begin after
23December 31, 2003, and before January 1, 2005, means the federal Internal Revenue
24Code as amended to December 31, 2003, excluding sections 103, 104, and 110 of P.L.
25102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
1sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
106-519,
2sections 162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16,
3sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27,
4section 109 of P.L.
108-121, and section 1201 of P.L.
108-173, and as amended by P.L.
5108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308, 316, 401, and
6403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 211, 242, 244, 336,
7337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7,
8P.L.
109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
91329, 1348, and 1351 of P.L.
109-58, P.L.
109-73, excluding section 301 of P.L.
10109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it relates to section
111400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
109-227, and P.L.
12109-280, excluding sections 811 and 844 of P.L.
109-280, and as indirectly affected
13in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
14100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823
15(c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
16101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
17103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
18sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
19103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
201123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
21104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
22106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
23P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
24107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101 and 301 (a)
25of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
1excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section
2109 of P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
3108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308, 316, 401, and
4403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 211, 242, 244, 336,
5337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7,
6P.L.
109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
71329, 1348, and 1351 of P.L.
109-58, P.L.
109-73, excluding section 301 of P.L.
8109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it relates to section
91400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
109-227, and P.L.
10109-280, excluding sections 811 and 844 of P.L.
109-280. The Internal Revenue Code
11applies for Wisconsin purposes at the same time as for federal purposes.
12Amendments to the federal Internal Revenue Code enacted after December 31, 2003,
13do not apply to this paragraph with respect to taxable years beginning after
14December 31, 2003, and before January 1, 2005, except that changes to the Internal
15Revenue Code made by P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections
16306, 307, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections
17101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
18108-375, P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309,
191310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-73,
20excluding section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201
21(a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
22109-135, P.L.
109-227, and P.L.
109-280, excluding sections 811 and 844 of P.L.
23109-280, and changes that indirectly affect the provisions applicable to this
24subchapter made by P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections
25306, 307, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections
1101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
2108-375, P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309,
31310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-73,
4excluding section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201
5(a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
6109-135, P.L.
109-227, and P.L.
109-280, excluding sections 811 and 844 of P.L.
7109-280, apply for Wisconsin purposes at the same time as for federal purposes.
AB918,14,1810
71.22
(4) (r) Except as provided in sub. (4m) and ss. 71.26
(2) (b) and (3), 71.34
11(1g), and 71.42 (2), "Internal Revenue Code," for taxable years that begin after
12December 31, 2004, and before January 1, 2006, means the federal Internal Revenue
13Code as amended to December 31, 2004, excluding sections 103, 104, and 110 of P.L.
14102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
15sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3,
164, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section
17431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and
18202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403
19(a) of P.L.
108-311, and sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and
20910 of P.L.
108-357, and as amended by P.L.
109-7, P.L.
109-58, excluding sections
211305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
22109-58, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135, excluding
23sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
24(q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections 101, 207,
25209, 503, 512, and 513 of P.L.
109-222, P.L.
109-227, and P.L.
109-280, excluding
1sections 811 and 844 of P.L.
109-280, and as indirectly affected in the provisions
2applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, excluding
3sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L.
99-514 4and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
5101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
6102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
7(d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
8103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
91311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
10105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
11106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15,
12P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
13107-134, P.L.
107-147, excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
14107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections
15106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201
16of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306,
17308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
18211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
19108-476, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310, 1323,
201324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-73, excluding
21section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
22relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
23109-151, P.L.
109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L.
24109-222, P.L.
109-227, and P.L.
109-280, excluding sections 811 and 844 of P.L.
25109-280. The Internal Revenue Code applies for Wisconsin purposes at the same
1time as for federal purposes. Amendments to the federal Internal Revenue Code
2enacted after December 31, 2004, do not apply to this paragraph with respect to
3taxable years beginning after December 31, 2004, and before January 1, 2006,
4except that changes to the Internal Revenue Code made by P.L.
109-7, P.L.
109-58,
5excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348,
6and 1351 of P.L.
109-58, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
7109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
8(e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding
9sections 101, 207, 209, 503, 512, and 513 of P.L.
109-222, P.L.
109-227, and P.L.
10109-280, excluding sections 811 and 844 of P.L.
109-280, and changes that indirectly
11affect the provisions applicable to this subchapter made by P.L.
109-7, P.L.
109-58,
12excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348,
13and 1351 of P.L.
109-58, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
14109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
15(e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding
16sections 101, 207, 209, 503, 512, and 513 of P.L.
109-222, P.L.
109-227, and P.L.
17109-280, excluding sections 811 and 844 of P.L.
109-280, apply for Wisconsin
18purposes at the same time as for federal purposes.
AB918,16,2121
71.22
(4) (s) Except as provided in sub. (4m) and ss. 71.26
(2) (b) and (3), 71.34
22(1g), and 71.42 (2), "Internal Revenue Code," for taxable years that begin after
23December 31, 2005, and before January 1, 2007, means the federal Internal Revenue
24Code as amended to December 31, 2005, excluding sections 103, 104, and 110 of P.L.
25102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
1sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3,
24, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section
3431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and
4202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403
5(a) of P.L.
108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910
6of P.L.
108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326,
71328, 1329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section 301
8of P.L.
109-73, and sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
9(e), 403 (e), (j), and (q), and 405 of P.L.
109-135, and as amended by P.L.
109-222,
10excluding sections 101, 207, 209, 503, 512, and 513 of P.L.
109-222, P.L.
109-227, and
11P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280, and as indirectly
12affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203,
13P.L.
100-647, excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and
14823 (c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
15101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
16103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
17sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
18103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
191123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
20104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
21106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
22P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
23107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101 and 301 (a)
24of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
25excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173,
1excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
2excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
3excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
4108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections
51305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
6109-58, P.L.
109-59, excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding
7section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
8relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
9109-151, P.L.
109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L.
10109-222, P.L.
109-227, and P.L.
109-280, excluding sections 811 and 844 of P.L.
11109-280. The Internal Revenue Code applies for Wisconsin purposes at the same
12time as for federal purposes. Amendments to the federal Internal Revenue Code
13enacted after December 31, 2005, do not apply to this paragraph with respect to
14taxable years beginning after December 31, 2005, and before January 1, 2007,
15except that changes to the Internal Revenue Code made by P.L.
109-222, excluding
16sections 101, 207, 209, 503, 512, and 513 of P.L.
109-222, P.L.
109-227, and P.L.
17109-280, excluding sections 811 and 844 of P.L.
109-280, and changes that indirectly
18affect the provisions applicable to this subchapter made by P.L.
109-222, excluding
19sections 101, 207, 209, 503, 512, and 513 of P.L.
109-222, P.L.
109-227, and P.L.
20109-280, excluding sections 811 and 844 of P.L.
109-280, apply for Wisconsin
21purposes at the same time as for federal purposes.
AB918,18,1624
71.22
(4) (t) Except as provided in sub. (4m) and ss. 71.26
(2) (b) and (3), 71.34
25(1g), and 71.42 (2), "Internal Revenue Code," for taxable years that begin after
1December 31, 2006, means the federal Internal Revenue Code as amended to
2December 31, 2006, excluding sections 103, 104, and 110 of P.L.
102-227, sections
313113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, sections 1123 (b),
41202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
5106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of P.L.
6107-16, sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and 202 of P.L.
7108-27, section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403 (a) of P.L.
8108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
9108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
101329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section 301 of P.L.
11109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
12(j), and (q), and 405 of P.L.
109-135, sections 101, 207, 209, 503, 512, and 513 of P.L.
13109-222, sections 811 and 844 of P.L.
109-280, and P.L.
109-432, and as indirectly
14affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203,
15P.L.
100-647, excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and
16823 (c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
17101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
18103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
19sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
20103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
211123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
22104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
23106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
24P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
25107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101 and 301 (a)
1of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
2excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173,
3excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
4excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
5excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
6108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections
71305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
8109-58, P.L.
109-59, excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding
9section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
10relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
11109-151, P.L.
109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L.
12109-222, P.L.
109-227, and P.L.
109-280, excluding sections 811 and 844 of P.L.
13109-280. The Internal Revenue Code applies for Wisconsin purposes at the same
14time as for federal purposes. Amendments to the federal Internal Revenue Code
15enacted after December 31, 2006, do not apply to this paragraph with respect to
16taxable years beginning after December 31, 2006.
AB918, s. 8
17Section
8. 71.22 (9a) of the statutes is created to read:
AB918,18,2418
71.22
(9a) "Qualified real estate investment trust" means a real estate
19investment trust, except a real estate investment trust of which more than 50
20percent of the voting power or value of the beneficial interests or shares are owned
21or controlled, directly or indirectly, by a single entity that is subject to sections
301 22to
385 of the Internal Revenue Code, that is not exempt under s. 71.26 (1), and that
23is not a real estate investment trust or a qualified real estate trust subsidiary under
24section
856 (i) of the Internal Revenue Code.
AB918, s. 9
25Section
9. 71.22 (9c) of the statutes is created to read:
AB918,19,2
171.22
(9c) "Real estate investment trust" means a real estate investment trust
2under section
856 of the Internal Revenue Code.
AB918, s. 10
3Section
10. 71.22 (9d) of the statutes is created to read:
AB918,19,54
71.22
(9d) "Real estate mortgage investment conduit" means a real estate
5mortgage investment conduit under section
860D of the Internal Revenue Code.
AB918, s. 11
6Section
11. 71.22 (9e) of the statutes is created to read:
AB918,19,87
71.22
(9e) "Regulated investment company" means a regulated investment
8company under section
851 of the Internal Revenue Code.
AB918, s. 12
9Section
12. 71.26 (2) (b) of the statutes is repealed and recreated to read:
AB918,19,1210
71.26
(2) (b)
Regulated investment companies, real estate investment trusts,
11and real estate mortgage investment conduits. 1. In this paragraph, except as
12provided in subds. 2. to 5., "net income" means one of the following:
AB918,19,1513
a. That part of the federal regulated investment company income that is subject
14to federal tax as provided in sections
851 and
852 of the Internal Revenue Code,
15including federal undistributed net capital gain.
AB918,19,2216
b. That part of the federal real estate investment trust income that is subject
17to federal tax as provided in sections
856 and
857 of the Internal Revenue Code,
18including federal undistributed net capital gain, federal net income from foreclosure
19property, and federal net income derived from prohibited transactions. The
20treatment of certain wholly owned subsidiaries under section
856 (i) of the Internal
21Revenue Code shall apply in computing the net income of a real estate investment
22trust.
AB918,20,223
c. That part of the federal real estate mortgage investment conduit income that
24is subject to federal tax, including federal net income derived from prohibited
1transactions under section
860F of the Internal Revenue Code and federal net
2income from foreclosure property under section
860G of the Internal Revenue Code.
AB918,20,63
2. Property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be
4depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as
5amended to December 31, 1980, shall continue to be depreciated under the Internal
6Revenue Code as amended to December 31, 1980.
AB918,20,127
3. With regard to federal regulated investment company income, federal real
8estate investment trust income, and federal real estate mortgage investment conduit
9income, the appropriate amount shall be added or subtracted to reflect differences
10between the depreciation or adjusted basis for federal income tax purposes and the
11depreciation or adjusted basis under this chapter of any property disposed of during
12the taxable year.
AB918,20,1713
4. If the real estate investment trust is not a qualified real estate investment
14trust, all transactions between the real estate investment trust and an entity that
15owns or controls, directly or indirectly, more than 50 percent of the voting power or
16value of the beneficial interests or shares of the real estate investment trust, shall
17be disregarded.
AB918,20,2418
5. For purposes of subd. 4., any transaction between a real estate investment
19trust and an entity that does not own or control more than 50 percent of the voting
20power or value of the beneficial interests or shares of the real estate investment trust,
21but that is owned or controlled, directly or indirectly, by a related person under
22section
267 (b) of the Internal Revenue Code that does own or control, directly or
23indirectly, more than 50 percent of the voting power or value of the beneficial
24interests or shares of the real estate investment trust, shall be disregarded.
AB918,21,1
1(1) This act first applies to taxable years beginning on January 1, 2008.
