AB654-engrossed,12,1713
16.75
(2m) (a)
If Except as otherwise required by law, if the secretary or his or
14her designee determines that the use of competitive sealed bidding is not practicable
15or not advantageous to this state, the department may solicit competitive sealed
16proposals. Each request for competitive sealed proposals shall state the relative
17importance of price and other evaluation factors.
AB654-engrossed,12,2119
20.585
(1) (gm)
General program operations; reimbursement. All moneys
20received from the vendor of the college savings program under s. 16.25 (3) (a) for
21general programs operations.
AB654-engrossed,12,2523
20.585
(2) (a)
Administrative expenses; general fund. The amounts in the
24schedule for the administrative expenses of the college tuition
prepayment and
25expenses program under s. 14.63, including the expense of promoting the program.
AB654-engrossed,13,52
20.585
(2) (s)
Administrative expenses; tuition trust fund. From the tuition
3trust fund, the amounts in the schedule for the administrative expenses of the college
4tuition
prepayment and expenses program under s. 14.63, including the expense of
5promoting the program.
AB654-engrossed,13,118
71.05
(6) (b) 23. Any increase in value of a tuition unit that is purchased under
9a tuition contract under s. 14.63
, except that the subtraction under this subdivision
10may not be claimed by any individual who received a refund under s. 14.63 (7) (a) 2.,
113. or 4.
AB654-engrossed,13,1713
71.05
(6) (b) 28. h. No modification may be claimed under this subdivision for
14an amount paid for tuition expenses, as described under this subdivision, if the
15source of the payment is an amount withdrawn from a college savings account, as
16described in s. 14.64 or from a college tuition prepayment program, as described in
17s. 14.63.
AB654-engrossed,13,2219
71.05
(6) (b) 31. Any increase in value of a college savings account, as described
20in s. 14.64, except that the subtraction under this subdivision may not be claimed by
21any individual who has made an unqualified withdrawal, as described in s. 14.64 (2)
22(e).
AB654-engrossed,14,224
71.05
(6) (b) 32. An amount paid into a college savings account, as described
25in s. 14.64, if the beneficiary of the account either is the claimant or is the claimant's
1child and the claimant's dependent who is claimed under section
151 (c) of the
2Internal Revenue Code, calculated as follows:
AB654-engrossed,14,43
a. An amount equal to not more than $3,000 per beneficiary for each year to
4which the claim relates.
AB654-engrossed,14,155
b. For an individual who is a nonresident or part-year resident of this state,
6multiply the amount calculated under subd. 32. a. by a fraction the numerator of
7which is the individual's wages, salary, tips, unearned income and net earnings from
8a trade or business that are taxable by this state and the denominator of which is the
9individual's total wages, salary, tips, unearned income and net earnings from a trade
10or business. In this subd. 32. b., for married persons filing separately "wages, salary,
11tips, unearned income and net earnings from a trade or business" means the separate
12wages, salary, tips, unearned income and net earnings from a trade or business of
13each spouse, and for married persons filing jointly "wages, salary, tips, unearned
14income and net earnings from a trade or business" means the total wages, salary,
15tips, unearned income and net earnings from a trade or business of both spouses.
AB654-engrossed,14,1816
c. Reduce the amount calculated under subd. 32. a. or b. to the individual's
17aggregate wages, salary, tips, unearned income and net earnings from a trade or
18business that are taxable by this state.
AB654-engrossed,14,2320
71.05
(6) (b) 33. An amount paid into a college tuition prepayment program,
21as described in s. 14.63, if the beneficiary of the account either is the claimant or is
22the claimant's child and the claimant's dependent who is claimed under section
151 23(c) of the Internal Revenue Code, calculated as follows:
AB654-engrossed,14,2524
a. An amount equal to not more than $3,000 per beneficiary for each year to
25which the claim relates.
AB654-engrossed,15,11
1b. For an individual who is a nonresident or part-year resident of this state,
2multiply the amount calculated under subd. 33. a. by a fraction the numerator of
3which is the individual's wages, salary, tips, unearned income and net earnings from
4a trade or business that are taxable by this state and the denominator of which is the
5individual's total wages, salary, tips, unearned income and net earnings from a trade
6or business. In this subd. 33. b., for married persons filing separately "wages, salary,
7tips, unearned income and net earnings from a trade or business" means the separate
8wages, salary, tips, unearned income and net earnings from a trade or business of
9each spouse, and for married persons filing jointly "wages, salary, tips, unearned
10income and net earnings from a trade or business" means the total wages, salary,
11tips, unearned income and net earnings from a trade or business of both spouses.
AB654-engrossed,15,1412
c. Reduce the amount calculated under subd. 33. a. or b. to the individual's
13aggregate wages, salary, tips, unearned income and net earnings from a trade or
14business that are taxable by this state.
AB654-engrossed,15,1716
815.18
(3) (p)
College savings accounts. An interest in a college savings account
17under s. 14.64.
AB654-engrossed,16,219
(1) (a
) Notwithstanding section 15.07 (1) (b) 2. of the statutes, as created by this
20act, the governor may provisionally appoint initial members of the college savings
21program board under section 14.57 of the statutes, as created by this act. Those
22provisional appointments are in force until the governor withdraws them or the
23senate acts upon them, and if the senate confirms them, they continue for the
24remainder of the unexpired terms, if any, of the members and until successors are
25chosen and qualify. A provisional appointee may exercise all the powers and duties
1of board membership to which the person is appointed during the time in which the
2appointee qualifies.
AB654-engrossed,16,93
(b) A provisional appointment under paragraph (a) that the governor
4withdraws lapses upon withdrawal and creates a vacancy for the provisional
5appointment of another initial member of the college savings program board. A
6provisional appointment that the governor makes under paragraph (a) and that the
7senate rejects lapses upon rejection and creates a vacancy for nomination and
8appointment under section 15.07 (1) (b) 2. of the statutes, as created by this act, of
9another initial board member.
AB654-engrossed,16,13
10(2) Notwithstanding the length of the terms specified in section 14.57 (6) of the
11statutes, as created by this act, the initial terms of 3 of the members appointed under
12section 14.57 (6) of the statutes, as created by this act, expire on May 1, 2003, and
13the initial terms of 3 of the members expire on May 1, 2005.
AB654-engrossed,16,20
15(1) The treatment of section 71.05 (6) (b) 23., 28. h., 31., 32. and 33. of the
16statutes first applies to taxable years beginning on January 1 of the year in which
17this subsection takes effect, except that if this subsection takes effect after July 31
18the treatment of section 71.05 (6) (b) 28. h., 31. and 32. of the statutes first applies
19to taxable years beginning on January 1 of the year following the year in which this
20subsection takes effect.
AB654-engrossed, s. 16
21Section
16.
Effective dates. This act takes effect on the first day of the 10th
22month following publication, except as follows:
AB654-engrossed,16,2423
(1)
The treatment of sections 14.57 and 15.07 (1) (b) 2. of the statutes and
24Section 15 of this act take effect the day after publication.
AB654-engrossed,17,3
1(2) The treatment of sections 14.63 (title), (3) (title), (a) 1. and 3. and (c), (4), (5)
2(a) and (b) (intro.) and 2., (11) (b), (11m) and (13), 14.64 (8) and 20.585 (2) (a) and (s)
3of the statutes takes effect on the first day of the 4th month following publication.