AB957,5,751. It is used for the purposes for which the exemption under section 501 (c) (3)
6of the Internal Revenue Code is granted to the corporation, organization, or
7association that owns or leases the property.
AB957,5,88 2. It is located on land donated by a local business owner.
AB957,5,99 3. It is located on land that is within 20 miles of the Mississippi River.
AB957,5,1110 4. It is located on a parcel of land that is at least one-fourth of an acre, but no
11larger than 2 acres.
AB957,5,1412 5. It includes one or more theaters for the performing arts that are operated by
13the corporation, organization, or association and the seating capacity of the theater
14or theaters is not less than 450 persons.
AB957,5,1515 6. It includes facilities that are used for arts education.
AB957,5,2316 (c) Limitations. Partnerships, limited liability companies, and tax-option
17corporations may not claim the credit under this subsection, but the eligibility for,
18and the amount of, the credit are based on their payment of amounts under par. (b).
19A partnership, limited liability company, or tax-option corporation shall compute
20the amount of credit that each of its partners, members, or shareholders may claim
21and shall provide that information to each of them. Partners, members of limited
22liability companies, and shareholders of tax-option corporations may claim the
23credit in proportion to their ownership interests.
AB957,5,2524 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under
25sub. (4), applies to the credit under this subsection.
AB957, s. 7
1Section 7. 71.30 (3) (cr) of the statutes is created to read:
AB957,6,22 71.30 (3) (cr) Nonprofit community theater credit under s. 71.28 (5r).
AB957, s. 8 3Section 8. 71.34 (1) (g) of the statutes, as affected by 2007 Wisconsin Act 20,
4is amended to read:
AB957,6,85 71.34 (1) (g) An addition shall be made for credits computed by a tax-option
6corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (3), (3g),
7(3h), (3n), (3p), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), and (5k), and (5r) and passed
8through to shareholders.
AB957, s. 9 9Section 9. 71.45 (2) (a) 10. of the statutes, as affected by 2007 Wisconsin Act
1020
, is amended to read:
AB957,6,1711 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
12computed under s. 71.47 (1dd) to (1dx), (3h), (3n), (3p), (3w), (5e), (5f), (5g), (5h), (5i),
13(5j), and (5k), and (5r) and not passed through by a partnership, limited liability
14company, or tax-option corporation that has added that amount to the partnership's,
15limited liability company's, or tax-option corporation's income under s. 71.21 (4) or
1671.34 (1) (g) and the amount of credit computed under s. 71.47 (1), (3), (3t), (4), and
17(5).
AB957, s. 10 18Section 10. 71.47 (5r) of the statutes is created to read:
AB957,6,2019 71.47 (5r) Nonprofit community theater credit. (a) Definition. In this
20subsection, "claimant" means a person who files a claim under this subsection.
AB957,7,221 (b) Filing claims. Subject to the limitations provided in this subsection, a
22claimant may claim as a credit against the tax imposed under s. 71.43 up to the
23amount of the tax, the amount of property taxes imposed under ch. 70 that the
24claimant paid in the taxable year on all property owned or leased by a corporation,

1organization, or association that is exempt from taxation under section 501 (c) (3) of
2the Internal Revenue Code, if the property satisfies the following conditions:
AB957,7,531. It is used for the purposes for which the exemption under section 501 (c) (3)
4of the Internal Revenue Code is granted to the corporation, organization, or
5association that owns or leases the property.
AB957,7,66 2. It is located on land donated by a local business owner.
AB957,7,77 3. It is located on land that is within 20 miles of the Mississippi River.
AB957,7,98 4. It is located on a parcel of land that is at least one-fourth of an acre, but no
9larger than 2 acres.
AB957,7,1210 5. It includes one or more theaters for the performing arts that are operated by
11the corporation, organization, or association and the seating capacity of the theater
12or theaters is not less than 450 persons.
AB957,7,1313 6. It includes facilities that are used for arts education.
AB957,7,2114 (c) Limitations. Partnerships, limited liability companies, and tax-option
15corporations may not claim the credit under this subsection, but the eligibility for,
16and the amount of, the credit are based on their payment of amounts under par. (b).
17A partnership, limited liability company, or tax-option corporation shall compute
18the amount of credit that each of its partners, members, or shareholders may claim
19and shall provide that information to each of them. Partners, members of limited
20liability companies, and shareholders of tax-option corporations may claim the
21credit in proportion to their ownership interests.
AB957,7,2322 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
23s. 71.28 (4), applies to the credit under this subsection.
AB957, s. 11 24Section 11. 71.49 (1) (cr) of the statutes is created to read:
AB957,7,2525 71.49 (1) (cr) Nonprofit community theater credit under s. 71.47 (5r).
AB957, s. 12
1Section 12. 77.92 (4) of the statutes, as affected by 2007 Wisconsin Act 20, is
2amended to read:
AB957,8,183 77.92 (4) "Net business income," with respect to a partnership, means taxable
4income as calculated under section 703 of the Internal Revenue Code; plus the items
5of income and gain under section 702 of the Internal Revenue Code, including taxable
6state and municipal bond interest and excluding nontaxable interest income or
7dividend income from federal government obligations; minus the items of loss and
8deduction under section 702 of the Internal Revenue Code, except items that are not
9deductible under s. 71.21; plus guaranteed payments to partners under section 707
10(c) of the Internal Revenue Code; plus the credits claimed under s. 71.07 (2dd), (2de),
11(2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (3g), (3h), (3s), (3n), (3p), (3t), (3w), (5e),
12(5f), (5g), (5h), (5i), (5j), and (5k), and (5r); and plus or minus, as appropriate,
13transitional adjustments, depreciation differences, and basis differences under s.
1471.05 (13), (15), (16), (17), and (19); but excluding income, gain, loss, and deductions
15from farming. "Net business income," with respect to a natural person, estate, or
16trust, means profit from a trade or business for federal income tax purposes and
17includes net income derived as an employee as defined in section 3121 (d) (3) of the
18Internal Revenue Code.
AB957, s. 13 19Section 13. Initial applicability.
AB957,8,2020 (1) This act first applies to taxable years beginning on January 1, 2008.
AB957,8,2121 (End)
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