SB45-SSA1-SA1,200,3
11. "Claimant" means a sole proprietor, a partner, a member of a limited liability
2company or a shareholder of a tax-option corporation who files a claim under this
3subsection.
SB45-SSA1-SA1,200,54
2. "Qualified expenses" means expenses related to attending school in a foreign
5country and includes transportation costs, room and board, books and tuition.
SB45-SSA1-SA1,200,76
(b) A claimant may claim as a credit against the tax imposed under s. 71.02 an
7amount equal to $1,000 if all of the following apply:
SB45-SSA1-SA1,200,98
1. The claimant pays or incurs at least $3,000 in qualified expenses on behalf
9of a student who attends school in a foreign country.
SB45-SSA1-SA1,200,1110
2. The student under subd. 1. is a full-time undergraduate student enrolled in
11the University of Wisconsin System.
SB45-SSA1-SA1,200,1312
3. The student under subd. 1. is eligible for a Wisconsin higher education grant
13under s. 39.435.
SB45-SSA1-SA1,200,1614
(c) A claimant may not claim the credit under par. (b) for any tuition amounts
15that the claimant excluded under s. 71.05 (6) (b) 28. or under section
127 of the
16Internal Revenue Code.
SB45-SSA1-SA1,200,1817
(d) The carry-over provisions of s. 71.28 (4) (e) and (f), as they apply to the credit
18under s. 71.28 (4), apply to the credit under this subsection.
SB45-SSA1-SA1,201,219
(e) Partnerships, limited liability companies and tax-option corporations may
20not claim the credit under this subsection, but the eligibility for, and the amount of,
21the credit are based on their payment of qualified expenses under par. (b) 1. A
22partnership, limited liability company or tax-option corporation shall compute the
23amount of credit that each of its partners, members or shareholders may claim and
24shall provide that information to each of them. Partners, members of limited liability
1companies and shareholders of tax-option corporations may claim the credit in
2proportion to their ownership interest.
SB45-SSA1-SA1,201,43
(f) Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4),
4applies to the credit under this subsection.".
SB45-SSA1-SA1,201,198
71.07
(9) (a) 4. "Rent constituting property taxes" means
, in taxable years
9beginning before January 1, 2000, 25% of rent if heat is not included, or 20% of rent
10if heat is included, paid during the taxable year for which credit is claimed under this
11subsection, at arm's length, for the use of a principal dwelling and contiguous land,
12excluding any payment for domestic, food, medical or other services which are
13unrelated to use of the dwelling as housing, less any rent paid that is properly
14includable as a trade or business expense under the internal revenue code. "Rent"
15includes space rental paid to a landlord for parking a mobile home. Rent shall be
16apportioned among the occupants of a principal dwelling according to their
17respective contribution to the total amount of rent paid. "Rent" does not include rent
18paid for the use of housing which was exempt from property taxation, except housing
19for which payments in lieu of taxes were made under s. 66.40 (22).
SB45-SSA1-SA1,202,821
71.07
(9) (a) 5. "Rent constituting property taxes" means, in taxable years
22beginning after December 31, 1999, 35% of rent if heat is not included, or 30% of rent
23if heat is included, paid during the taxable year for which credit is claimed under this
24subsection, at arm's length, for the use of a principal dwelling and contiguous land,
1excluding any payment for domestic, food, medical or other services which are
2unrelated to use of the dwelling as housing, less any rent paid that is properly
3includable as a trade or business expense under the Internal Revenue Code. "Rent"
4includes space rental paid to a landlord for parking a mobile home. Rent shall be
5apportioned among the occupants of a principal dwelling according to their
6respective contribution to the total amount of rent paid. "Rent" does not include rent
7paid for the use of housing which was exempt from property taxation, except housing
8for which payments in lieu of taxes were made under s. 66.40 (22).
SB45-SSA1-SA1,202,1610
71.07
(9) (b) 1.
Subject For taxable years beginning before January 1, 1998, and
11for taxable years beginning after December 31, 1998 and before January 1, 2000,
12subject to the limitations under this subsection and except as provided in subd. 2.,
13a claimant may claim as a credit against, but not to exceed the amount of, taxes under
14s. 71.02, 10% of the first $2,000 of property taxes or rent constituting property taxes,
15or 10% of the first $1,000 of property taxes or rent constituting property taxes of a
16married person filing separately.
SB45-SSA1-SA1,202,2318
71.07
(9) (b) 3. For taxable years beginning after December 31, 1999, subject
19to the limitations under this subsection, a claimant may claim as a credit against,
20but not to exceed the amount of, taxes under s. 71.02, 10% of the first $2,000 of
21property taxes or 14.1% of the first $2,000 of rent constituting property taxes, or 10%
22of the first $1,000 of property taxes or 14.1% of the first $1,000 of rent constituting
23property taxes of a married person filing separately.".
SB45-SSA1-SA1,203,4
2752. Page 851, line 2: delete the material beginning with "(2m)" and ending
3with "(2m) and (3)" on line 3 and substitute "(2m)
and, (3)
and (5d) and 71.47 (1dd),
4(1de), (1di), (1dj), (1dL), (1ds), (1dx),
(1dy), (1fd), (2m)
and, (3)
and (5d)".
SB45-SSA1-SA1,203,127
71.10
(4) (i) The total of claim of right credit under s. 71.07 (1), farmland
8preservation credit under subch. IX, homestead credit under subch. VIII, farmland
9tax relief credit under s. 71.07 (3m), farmers' drought property tax credit under s.
1071.07 (2fd),
study abroad credit under s. 71.07 (5d), earned income tax credit under
11s. 71.07 (9e), estimated tax payments under s. 71.09, and taxes withheld under
12subch. X.".
SB45-SSA1-SA1,204,7
171.23
(3) (d) The storage for any length of time in this state in or on property
2owned by a person, other than the foreign corporation, of the foreign corporation's
3tangible personal property, if the tangible personal property is used in this state by
4another person for fabricating, processing, manufacturing or printing on the parcel
5of property in or on which the tangible personal property is stored and if the parcel
6of property has an assessed value, for property tax purposes, of at least $10,000,000
7but no more than $11,000,000 on January 1, 1999.".
SB45-SSA1-SA1,204,2113
71.26
(3) (e) 1. So that payments for wages, salaries, commissions and bonuses
14of employes and officers may be deducted only if the name, address and amount paid
15to each resident of this state to whom compensation of $600 or more has been paid
16during the taxable year is reported or if the department of revenue is satisfied that
17failure to report has resulted in no revenue loss to this state.
A deduction for wages,
18salaries, commissions and bonuses paid to an employe or officer shall not exceed an
19amount equal to the wages, salaries, commissions and bonuses paid to the
20corporation's lowest paid full-time employe during the taxable year multiplied by
2125.".
SB45-SSA1-SA1,205,1
1"
Section 1744be. 71.28 (2m) (b) 1. a. of the statutes is amended to read:
SB45-SSA1-SA1,205,92
71.28
(2m) (b) 1. a. Subject to the limitations provided in this subsection and
3s. 71.80 (3) and (3m), a claimant may claim as a credit against Wisconsin income
4taxes otherwise due, the amount derived under par. (c). If the allowable amount of
5claim exceeds the income taxes otherwise due on the claimant's income or if there are
6no Wisconsin income taxes due on the claimant's income, the amount of the claim not
7used as an offset against income taxes shall be certified to the department of
8administration for payment to the claimant by check, share draft or other draft paid
9from the
appropriation appropriations under s. 20.835 (2)
(ka) and (q).".
SB45-SSA1-SA1,205,1212
71.28
(5d) Study abroad credit. (a) In this subsection:
SB45-SSA1-SA1,205,1313
1. "Claimant" means a corporation that files a claim under this subsection.
SB45-SSA1-SA1,205,1514
2. "Qualified expenses" means expenses related to attending school in a foreign
15country and includes transportation costs, room and board, books and tuition.
SB45-SSA1-SA1,205,1716
(b) A claimant may claim as a credit against the tax imposed under s. 71.23 an
17amount equal to $1,000 if all of the following apply:
SB45-SSA1-SA1,205,1918
1. The claimant pays or incurs at least $3,000 in qualified expenses on behalf
19of a student who attends school in a foreign country.
SB45-SSA1-SA1,205,2120
2. The student under subd. 1. is a full-time undergraduate student enrolled in
21the University of Wisconsin System.
SB45-SSA1-SA1,205,2322
3. The student under subd. 1. is eligible for a Wisconsin higher education grant
23under s. 39.435.
SB45-SSA1-SA1,206,3
1(c) A claimant may not claim the credit under par. (b) for any tuition amounts
2that the claimant excluded under s. 71.05 (6) (b) 28. or under section
127 of the
3Internal Revenue Code.
SB45-SSA1-SA1,206,54
(d) The carry-over provisions of sub. (4) (e) and (f), as they apply to the credit
5under sub. (4), apply to the credit under this subsection.
SB45-SSA1-SA1,206,136
(e) Partnerships, limited liability companies and tax-option corporations may
7not claim the credit under this subsection, but the eligibility for, and the amount of,
8the credit are based on their payment of qualified expenses under par. (b) 1. A
9partnership, limited liability company or tax-option corporation shall compute the
10amount of credit that each of its partners, members or shareholders may claim and
11shall provide that information to each of them. Partners, members of limited liability
12companies and shareholders of tax-option corporations may claim the credit in
13proportion to their ownership interest.
SB45-SSA1-SA1,206,1514
(f) Subsection (4) (g) and (h), as it applies to the credit under sub. (4), applies
15to the credit under this subsection.".
SB45-SSA1-SA1,206,2118
71.30
(3) (f) The total of farmers' drought property tax credit under s. 71.28
19(1fd), farmland preservation credit under subch. IX, farmland tax relief credit under
20s. 71.28 (2m)
, study abroad credit under s. 71.28 (5d) and estimated tax payments
21under s. 71.29.".
SB45-SSA1-SA1,207,6
6"
Section 1757be. 71.47 (2m) (b) 1. a. of the statutes is amended to read:
SB45-SSA1-SA1,207,147
71.47
(2m) (b) 1. a. Subject to the limitations provided in this subsection and
8s. 71.80 (3) and (3m), a claimant may claim as a credit against Wisconsin income
9taxes otherwise due, the amount derived under par. (c). If the allowable amount of
10claim exceeds the income taxes otherwise due on the claimant's income or if there are
11no Wisconsin income taxes due on the claimant's income, the amount of the claim not
12used as an offset against income taxes shall be certified to the department of
13administration for payment to the claimant by check, share draft or other draft paid
14from the
appropriation appropriations under s. 20.835 (2)
(ka) and (q).".
SB45-SSA1-SA1,207,1717
71.47
(5d) Study abroad credit. (a) In this subsection:
SB45-SSA1-SA1,207,1818
1. "Claimant" means a corporation that files a claim under this subsection.
SB45-SSA1-SA1,207,2019
2. "Qualified expenses" means expenses related to attending school in a foreign
20country and includes transportation costs, room and board, books and tuition.
SB45-SSA1-SA1,207,2221
(b) A claimant may claim as a credit against the tax imposed under s. 71.43 an
22amount equal to $1,000 if all of the following apply:
SB45-SSA1-SA1,207,2423
1. The claimant pays or incurs at least $3,000 in qualified expenses on behalf
24of a student who attends school in a foreign country.
SB45-SSA1-SA1,208,2
12. The student under subd 1. is a full-time undergraduate student enrolled in
2the University of Wisconsin System.
SB45-SSA1-SA1,208,43
3. The student under subd. 1. is eligible for a Wisconsin higher education grant
4under s. 39.435.
SB45-SSA1-SA1,208,75
(c) A claimant may not claim the credit under par. (b) for any tuition amounts
6that the claimant excluded under s. 71.05 (6) (b) 28. or under section
127 of the
7Internal Revenue Code.
SB45-SSA1-SA1,208,98
(d) The carry-over provisions of s. 71.28 (4) (e) and (f), as they apply to the credit
9under s. 71.28 (4), apply to the credit under this subsection.
SB45-SSA1-SA1,208,1710
(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 their payment of qualified expenses under par. (b) 1. A
13partnership, limited liability company or tax-option corporation shall compute the
14amount of credit that each of its partners, members or shareholders may claim and
15shall provide 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.
SB45-SSA1-SA1,208,1918
(f) Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4),
19applies to the credit under this subsection.".
SB45-SSA1-SA1,209,222
71.49
(1) (f) The total of farmers' drought property tax credit under s. 71.47
23(1fd), farmland preservation credit under subch. IX, farmland tax relief credit under
1s. 71.47 (2m)
, the study abroad credit under s. 71.47 (5d) and estimated tax payments
2under s. 71.48.".
SB45-SSA1-SA1,209,108
71.54
(1) (f)
2001 and thereafter. The amount of any claim filed in 2001 and
9thereafter and based on property taxes accrued or rent constituting property taxes
10accrued during the previous year is limited as follows:
SB45-SSA1-SA1,209,1311
1. If the household income was $8,000 or less in the year to which the claim
12relates, the claim is limited to 80% of the property taxes accrued or rent constituting
13property taxes accrued or both in that year on the claimant's homestead.
SB45-SSA1-SA1,209,1714
2. If the household income was more than $8,000 in the year to which the claim
15relates, the claim is limited to 80% of the amount by which the property taxes accrued
16or rent constituting property taxes accrued or both in that year on the claimant's
17homestead exceeds 10.357% of the household income exceeding $8,000.
