AB936: Bill Text

AB936,35,21 (6r) Subsections (1) (b) and (c) and (3) do not apply to the furnishing of anything of pecuniary value by a lobbyist or principal to an employe of that lobbyist or princi pal who is a legislative official or an agency official solely because of membership on a state commission, board, council, committee or similar body if the thing of pecuni ary value is not in excess of that customarily provided by the employer to similarly situated employes and if the legislative official or agency official receives no com pensation for his or her services other than a per diem or reimbursement for actual and necessary expenses incurred in the performance of his or her duties, nor to the receipt of anything of pecuniary value by that legislative official or agency official un der those circumstances.

AB936, s. 54 Section 54. 13.625 (10) of the statutes is created to read:

AB936,35,25 13.625 (10) This section does not apply to the solicitation, acceptance or fur nishing of anything of pecuniary value relating to campaign financing activities gov erned by ch. 11.

AB936, s. 55 Section 55. 13.69 (6) of the statutes is amended to read:

AB936,36,4 13.69 (6) Any candidate for an elective state office, elective state official, agency official or legislative employe of the state who, or any personal campaign committee which, violates s. 13.625 (3) may be required to forfeit not more than $1,000.

AB936, s. 56 Section 56. 20.005 (3) (schedule) of the statutes: at the appropriate place, in sert the following amounts for the purposes indicated: - See PDF for table

AB936, s. 57 Section 57. 20.510 (1) (b) of the statutes is created to read:

AB936,36,10 20.510 (1) (b) Campaign financing. The amounts in the schedule to be trans ferred to the Wisconsin election campaign fund annually on August 1 to provide for payments to eligible candidates certified under s. 7.08 (2) (c).

AB936, s. 58 Section 58. 20.510 (1) (q) of the statutes is amended to read:

AB936,36,16 20.510 (1) (q) Wisconsin election campaign fund. As a continuing appropri ation, from the Wisconsin election campaign fund, the moneys determined under s. 11.50 to provide for payments to eligible candidates whose names are certified under s. 7.08 (2) (c) and (cm) and to provide for public information as authorized under s. 11.50 (2m).

AB936, s. 59 Section 59. 20.855 (4) (bm) of the statutes is created to read:

AB936,37,2 20.855 (4) (bm) Election campaign payments. The amounts in the schedule to be transferred to the Wisconsin election campaign fund annually on August 1.

AB936, s. 60 Section 60. 25.42 of the statutes is amended to read:

AB936,37,10 25.42 Wisconsin election campaign fund. All moneys appropriated under s. ss. 20.510 (1) (b) and 20.855 (4) (b) and (bm) together with all moneys credited un der s. 11.19 (1), (1m) and (6), all moneys reverting to the state under s. 11.50 (8) and all gifts, bequests and devises received under s. 11.50 (13) constitute the Wisconsin election campaign fund, to be expended for the purposes of s. 11.50. All moneys in the fund not disbursed by the state treasurer shall continue to accumulate indefinite ly.

AB936, s. 61 Section 61. 71.05 (6) (a) 21. of the statutes is created to read:

AB936,37,13 71.05 (6) (a) 21. Any amount deducted under section 162 (e) (1) of the internal revenue code.

AB936, s. 62 Section 62. 71.07 (5) (a) 7. of the statutes is created to read:

AB936,37,15 71.07 (5) (a) 7. Expenses under section 162 (e) (1) of the internal revenue code.

AB936, s. 63 Section 63. 71.10 (3) (a) of the statutes is amended to read:

AB936,37,21 71.10 (3) (a) Every individual filing an income tax return who has a tax liability or is entitled to a tax refund may designate $1 $3 for the Wisconsin election campaign fund for the use of eligible candidates under s. 11.50. If the individuals filing a joint return have a tax liability or are entitled to a tax refund, each individual may make a designation of $1 $3 under this subsection.

AB936, s. 64 Section 64. 71.26 (1) (a) of the statutes is amended to read:

AB936,38,17 71.26 (1) (a) Certain corporations. Income of corporations organized under ch. 185 or operating under subch. I of ch. 616 which are bona fide cooperatives operated without pecuniary profit to any shareholder or member, or operated on a cooperative plan pursuant to which they determine and distribute their proceeds in substantial compliance with s. 185.45, and the income, except the unrelated business taxable in come as defined in section 512 of the internal revenue code, of all religious, scientific, educational, benevolent or other corporations or associations of individuals not orga nized or conducted for pecuniary profit. In computing unrelated business taxable in come for the purposes of this paragraph, the expenses identified in section 162 (e) (1) of the internal revenue code may not be deducted. This paragraph does not apply to the income of savings banks, mutual loan corporations or savings and loan associa tions. This paragraph applies to the income of credit unions except to the income of any credit union that is derived from public deposits for any taxable year in which the credit union is approved as a public depository under ch. 34 and acts as a deposi tory of state or local funds under s. 186.113 (20). For purposes of this paragraph, the income of a credit union that is derived from public deposits is the product of the cred it union's gross annual income for the taxable year multiplied by a fraction, the nu merator of which is the average monthly balance of public deposits in the credit union during the taxable year, and the denominator of which is the average monthly bal ance of all deposits in the credit union during the taxable year.

AB936, s. 65 Section 65. 71.26 (2) (b) 1g. of the statutes is created to read:

AB936,38,23 71.26 (2) (b) 1g. In computing the net income under this paragraph of a corpora tion, conduit or common law trust which qualifies as a regulated investment compa ny, real estate mortgage investment conduit or real estate investment trust, ex penses identified in section 162 (e) (1) of the internal revenue code may not be deducted.

AB936, s. 66 Section 66. 71.26 (3) (em) of the statutes is created to read:

AB936,39,3 71.26 (3) (em) Section 162 (relating to trade or business expenses) is modified so that expenses identified in section 162 (e) (1) of the internal revenue code may not be deducted.

AB936, s. 67 Section 67. 71.34 (1) (ad) of the statutes is created to read:

AB936,39,6 71.34 (1) (ad) The expenses identified in section 162 (e) (1) of the internal reve nue code may not be deducted.

AB936, s. 68 Section 68. 71.45 (2) (a) 14. of the statutes is created to read:

AB936,39,9 71.45 (2) (a) 14. By adding to federal taxable income the amount of any ex penses deducted under section 162 (e) (1) of the internal revenue code.

AB936, s. 69 Section 69. Initial applicability.

AB936,39,12 (1)  Except as provided in subsections (2) and (3) , this act first applies to elec tions held on January 1, 1997.

AB936,39,16 (2)  The treatment of sections 11.50 (2m) and (6), 71.05 (6) (a) 21., 71.07 (5) (a) 7., 71.10 (3) (a), 71.26 (1) (a), (2) (b) 1g. and (3) (em), 71.34 (1) (ad) and 71.45 (2) (a) 14. of the statutes first applies to tax returns for taxable years beginning on January 1, 1996.

AB936,39,18 (3)  The treatment of section 11.31 (9) of the statutes first applies to adjustment of disbursement limitations for the biennium beginning on January 1, 1997.

AB936,39,19 (End)