AB1-ASA1, s. 198 3Section 198. 71.26 (2) (b) 12. of the statutes is amended to read:
AB1-ASA1,99,184 71.26 (2) (b) 12. For taxable years that begin after December 31, 1996, and
5before January 1, 1998, for a corporation, conduit or common law trust which
6qualifies as a regulated investment company, real estate mortgage investment
7conduit, real estate investment trust or financial asset securitization investment
8trust under the Internal Revenue Code as amended to December 31, 1996, excluding
9sections 103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d),
1013174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and
111605 (d) of P.L. 104-188, and as amended by P.L. 105-33, P.L. 105-34, P.L. 105-206,
12P.L. 105-277 and, P.L. 106-36, P.L. 106-554, and P.L. 107-16, excluding section 431
13of P.L. 107-16
, and as indirectly affected in the provisions applicable to this
14subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140,
15P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104,
16and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections
1713113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L.
18103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202
19(c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L.
20105-33, P.L. 105-34, P.L. 105-206, P.L. 105-277 and, P.L. 106-36, P.L. 106-554, and
21P.L. 107-16, excluding section 431 of P.L. 107-16
, "net income" means the federal
22regulated investment company taxable income, federal real estate mortgage
23investment conduit taxable income, federal real estate investment trust or financial
24asset securitization investment trust taxable income of the corporation, conduit or
25trust as determined under the Internal Revenue Code as amended to

1December 31, 1996, excluding sections 103, 104, and 110 of P.L. 102-227, sections
213113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 and sections 1123
3(b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188 and as amended by P.L.
4105-33, P.L. 105-34, P.L. 105-206, P.L. 105-277 and, P.L. 106-36, P.L. 106-554, and
5P.L. 107-16, excluding section 431 of P.L. 107-16
, and as indirectly affected in the
6provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647,
7P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
8excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L.
9103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
10103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188,
11excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L.
12104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-206, P.L. 105-277 and,
13P.L. 106-36, P.L. 106-554, and P.L. 107-16, excluding section 431 of P.L. 107-16,
14except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to
15be depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as
16amended to December 31, 1980, shall continue to be depreciated under the Internal
17Revenue Code as amended to December 31, 1980, and except that the appropriate
18amount shall be added or subtracted to reflect differences between the depreciation
19or adjusted basis for federal income tax purposes and the depreciation or adjusted
20basis under this chapter of any property disposed of during the taxable year. The
21Internal Revenue Code as amended to December 31, 1996, excluding sections 103,
22104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203
23(d) of P.L. 103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311 , and 1605 (d) of P.L.
24104-188, and as amended by P.L. 105-33, P.L. 105-34, P.L. 105-206, P.L. 105-277
25and, P.L. 106-36, P.L. 106-554, and P.L. 107-16, excluding section 431 of P.L.

1107-16
, and as indirectly affected in the provisions applicable to this subchapter by
2P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179,
3P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L.
4102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150
5(d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
6103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
71311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L.
8105-34, P.L. 105-206, P.L. 105-277 and, P.L. 106-36, P.L. 106-554, and P.L. 107-16,
9excluding section 431 of P.L. 107-16
, applies for Wisconsin purposes at the same time
10as for federal purposes. Amendments to the Internal Revenue Code enacted after
11December 31, 1996, do not apply to this subdivision with respect to taxable years
12that begin after December 31, 1996, and before January 1, 1998, except that
13changes to the Internal Revenue Code made by P.L. 105-33, P.L. 105-34, P.L.
14105-206, P.L. 105-277 and, P.L. 106-36, P.L. 106-554, and P.L. 107-16, excluding
15section 431 of P.L. 107-16,
and changes that indirectly affect the provisions
16applicable to this subchapter made by P.L. 105-33, P.L. 105-34, P.L. 105-206, P.L.
17105-277 and, P.L. 106-36, P.L. 106-554, and P.L. 107-16, excluding section 431 of
18P.L. 107-16,
apply for Wisconsin purposes at the same time as for federal purposes.
AB1-ASA1, s. 199 19Section 199. 71.26 (2) (b) 13. of the statutes is amended to read:
AB1-ASA1,99,2520 71.26 (2) (b) 13. For taxable years that begin after December 31, 1997, and
21before January 1, 1999, for a corporation, conduit or common law trust which
22qualifies as a regulated investment company, real estate mortgage investment
23conduit, real estate investment trust or financial asset securitization investment
24trust under the Internal Revenue Code as amended to December 31, 1997, excluding
25sections 103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d),

113174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and
21605 (d) of P.L. 104-188, and as amended by P.L. 105-178, P.L. 105-206, P.L.
3105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-554, P.L. 106-573, and P.L.
4107-16, excluding section 431 of P.L. 107-16
, and as indirectly affected in the
5provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647,
6P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
7excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L.
8103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
9103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188,
10excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L.
11104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L.
12105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-554, P.L. 106-573, and P.L.
13107-16, excluding section 431 of P.L. 107-16
, "net income" means the federal
14regulated investment company taxable income, federal real estate mortgage
15investment conduit taxable income, federal real estate investment trust or financial
16asset securitization investment trust taxable income of the corporation, conduit or
17trust as determined under the Internal Revenue Code as amended to December 31,
181997, excluding sections 103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d),
1913171 (d), 13174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204
20(f), 1311, and 1605 (d) of P.L. 104-188, and as amended by P.L. 105-178, P.L. 105-206,
21P.L. 105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-554, P.L. 106-573, and P.L.
22107-16, excluding section 431 of P.L. 107-16
, and as indirectly affected in the
23provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647,
24P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
25excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L.

1103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 , and 13203 (d) of P.L.
2103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188,
3excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L.
4104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L.
5105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-554, P.L. 106-573, and P.L.
6107-16, excluding section 431 of P.L. 107-16
, except that property that, under s.
771.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983
8to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall
9continue to be depreciated under the Internal Revenue Code as amended to
10December 31, 1980, and except that the appropriate amount shall be added or
11subtracted to reflect differences between the depreciation or adjusted basis for
12federal income tax purposes and the depreciation or adjusted basis under this
13chapter of any property disposed of during the taxable year. The Internal Revenue
14Code as amended to December 31, 1997, excluding sections 103, 104 , and 110 of P.L.
15102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66,
16and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and as
17amended by P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and, P.L. 106-170,
18P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16
,
19and as indirectly affected in the provisions applicable to this subchapter by P.L.
2099-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L.
21101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L.
22102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150
23(d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
24103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
251311 and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L.

1105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and, P.L. 106-170,
2P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16
,
3applies for Wisconsin purposes at the same time as for federal purposes.
4Amendments to the Internal Revenue Code enacted after December 31, 1997, do not
5apply to this subdivision with respect to taxable years that begin after
6December 31, 1997, and before January 1, 1999, except that changes to the Internal
7Revenue Code made by P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and,
8P.L. 106-170, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of
9P.L. 107-16,
and changes that indirectly affect the provisions applicable to this
10subchapter made by P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and and,
11P.L. 106-170, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of
12P.L. 107-16,
apply for Wisconsin purposes at the same time as for federal purposes.
AB1-ASA1, s. 200 13Section 200. 71.26 (2) (b) 14. of the statutes is amended to read:
AB1-ASA1,105,614 71.26 (2) (b) 14. For taxable years that begin after December 31, 1998, and
15before January 1, 2000, for a corporation, conduit or common law trust which
16qualifies as a regulated investment company, real estate mortgage investment
17conduit, real estate investment trust or financial asset securitization investment
18trust under the Internal Revenue Code as amended to December 31, 1998, excluding
19sections 103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d),
2013174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and
211605 (d) of P.L. 104-188, and as amended by P.L. 106-36 and , P.L. 106-170, P.L.
22106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding
23section 431 of P.L. 107-16
, and as indirectly affected in the provisions applicable to
24this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L.
25101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections

1103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding
2sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L.
3103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections
41123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L.
5104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L.
6106-36 and, P.L. 106-170, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573,
7and P.L. 107-16, excluding section 431 of P.L. 107-16
, "net income" means the federal
8regulated investment company taxable income, federal real estate mortgage
9investment conduit taxable income, federal real estate investment trust or financial
10asset securitization investment trust taxable income of the corporation, conduit or
11trust as determined under the Internal Revenue Code as amended to December 31,
121998, excluding sections 103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d),
1313171 (d), 13174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204
14(f), 1311, and 1605 (d) of P.L. 104-188, and as amended by P.L. 106-36 and, P.L.
15106-170, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16,
16excluding section 431 of P.L. 107-16
, and as indirectly affected in the provisions
17applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L.
18101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
19excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L.
20103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
21103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188,
22excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L.
23104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L.
24105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-230, P.L. 106-519, P.L. 106-554,
25P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16
, except that

1property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated
2for taxable years 1983 to 1986 under the Internal Revenue Code as amended to
3December 31, 1980, shall continue to be depreciated under the Internal Revenue
4Code as amended to December 31, 1980, and except that the appropriate amount
5shall be added or subtracted to reflect differences between the depreciation or
6adjusted basis for federal income tax purposes and the depreciation or adjusted basis
7under this chapter of any property disposed of during the taxable year. The Internal
8Revenue Code as amended to December 31, 1998, excluding sections 103, 104, and
9110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
10103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188,
11and as amended by P.L. 106-36 and, P.L. 106-170, P.L. 106-230, P.L. 106-519, P.L.
12106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16
, and
13as indirectly affected in the provisions applicable to this subchapter by P.L. 99-514,
14P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239,
15P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L. 102-227, P.L.
16102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d),
1713174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L.
18104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
19(d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L.
20105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-230,
21P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of
22P.L. 107-16
, applies for Wisconsin purposes at the same time as for federal purposes.
23Amendments to the Internal Revenue Code enacted after December 31, 1998, do not
24apply to this subdivision with respect to taxable years that begin after
25December 31, 1998, and before January 1, 2000, except that changes to the Internal

1Revenue Code made by P.L. 106-36 and, P.L. 106-170, P.L. 106-230, P.L. 106-519,
2P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16,

3and changes that indirectly affect the provisions applicable to this subchapter made
4by P.L. 106-36 and, P.L. 106-170, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L.
5106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16,
apply for Wisconsin
6purposes at the same time as for federal purposes.
AB1-ASA1, s. 201 7Section 201. 71.26 (2) (b) 15. of the statutes is amended to read:
AB1-ASA1,107,258 71.26 (2) (b) 15. For taxable years that begin after December 31, 1999, and
9before January 1, 2001,
for a corporation, conduit or common law trust which
10qualifies as a regulated investment company, real estate mortgage investment
11conduit, real estate investment trust or financial asset securitization investment
12trust under the Internal Revenue Code as amended to December 31, 1999, excluding
13sections 103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d),
1413174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and
151605 (d) of P.L. 104-188, and as amended by P.L. 106-200, P.L. 106-230, P.L.
16106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L.
17107-16
, and as indirectly affected in the provisions applicable to this subchapter by
18P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179,
19P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L.
20102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150
21(d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
22103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
231311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L.
24105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and, P.L. 106-170,
25P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L.

1107-16, excluding section 431 of P.L. 107-16
, "net income" means the federal
2regulated investment company taxable income, federal real estate mortgage
3investment conduit taxable income, federal real estate investment trust or financial
4asset securitization investment trust taxable income of the corporation, conduit or
5trust as determined under the Internal Revenue Code as amended to December 31,
61999, excluding sections 103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d),
713171 (d), 13174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204
8(f), 1311, and 1605 (d) of P.L. 104-188, and as amended by P.L. 106-200, P.L. 106-230,
9P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of
10P.L. 107-16
, and as indirectly affected in the provisions applicable to this subchapter
11by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179,
12P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L.
13102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150
14(d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
15103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
161311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L.
17105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and, P.L. 106-170,
18P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L.
19107-16, excluding section 431 of P.L. 107-16
, except that property that, under s.
2071.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983
21to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall
22continue to be depreciated under the Internal Revenue Code as amended to
23December 31, 1980, and except that the appropriate amount shall be added or
24subtracted to reflect differences between the depreciation or adjusted basis for
25federal income tax purposes and the depreciation or adjusted basis under this

1chapter of any property disposed of during the taxable year. The Internal Revenue
2Code as amended to December 31, 1999, excluding sections 103, 104 , and 110 of P.L.
3102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66,
4and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and as
5amended by P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573,
6and P.L. 107-16, excluding section 431 of P.L. 107-16
, and as indirectly affected in
7the provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L.
8100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L.
9102-227, excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L.
10102-486, P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and
1113203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L.
12104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
13104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L.
14105-206, P.L. 105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-200, P.L. 106-230,
15P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of
16P.L. 107-16
, applies for Wisconsin purposes at the same time as for federal purposes.
17Amendments to the Internal Revenue Code enacted after December 31, 1999, do not
18apply to this subdivision with respect to taxable years that begin after
19December 31, 1999, and before January 1, 2001, except that changes to the Internal
20Revenue Code made by P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L.
21106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16, and changes that
22indirectly affect the provisions applicable to this subchapter made by P.L. 106-200,
23P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding
24section 431 of P.L. 107-16, apply for Wisconsin purposes at the same time as for
25federal purposes
.
AB1-ASA1, s. 202
1Section 202. 71.26 (2) (b) 16. of the statutes is created to read:
AB1-ASA1,110,162 71.26 (2) (b) 16. For taxable years that begin after December 31, 2000, and
3before January 1, 2002, for a corporation, conduit, or common law trust which
4qualifies as a regulated investment company, real estate mortgage investment
5conduit, real estate investment trust, or financial asset securitization investment
6trust under the Internal Revenue Code as amended to December 31, 2000, excluding
7sections 103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d),
813174, and 13203 (d) of P.L. 103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311,
9and 1605 (d) of P.L. 104-188, and as amended by P.L. 107-16, excluding section 431
10of P.L. 107-16, and P.L. 107-22, and as indirectly affected in the provisions
11applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L.
12101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
13excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L.
14103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
15103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188,
16excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L.
17104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L.
18105-277, P.L. 106-36, P.L. 106-170, P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L.
19106-554, P.L. 106-573, P.L. 107-16, excluding section 431 of P.L. 107-16, and P.L.
20107-22, "net income" means the federal regulated investment company taxable
21income, federal real estate mortgage investment conduit taxable income, federal real
22estate investment trust or financial asset securitization investment trust taxable
23income of the corporation, conduit, or trust as determined under the Internal
24Revenue Code as amended to December 31, 2000, excluding sections 103, 104, and
25110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.

1103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188,
2and as amended by P.L. 107-16, excluding section 431 of P.L. 107-16, and P.L.
3107-22, and as indirectly affected in the provisions applicable to this subchapter by
4P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179,
5P.L. 101-239, 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.
11106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, P.L. 107-16,
12excluding section 431 of P.L. 107-16, and P.L. 107-22, except that property that,
13under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable
14years 1983 to 1986 under the Internal Revenue Code as amended to
15December 31, 1980, shall continue to be depreciated under the Internal Revenue
16Code as amended to December 31, 1980, and except that the appropriate amount
17shall be added or subtracted to reflect differences between the depreciation or
18adjusted basis for federal income tax purposes and the depreciation or adjusted basis
19under this chapter of any property disposed of during the taxable year. The Internal
20Revenue Code as amended to December 31, 2000, excluding sections 103, 104, and
21110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
22103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188,
23and as amended by P.L. 107-16, excluding section 431 of P.L. 107-16, and P.L.
24107-22, and as indirectly affected in the provisions applicable to this subchapter by
25P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179,

1P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L.
2102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150
3(d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
4103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
51311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L.
6105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36, P.L. 106-170, P.L.
7106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, P.L. 107-16,
8excluding section 431 of P.L. 107-16, and P.L. 107-22, applies for Wisconsin purposes
9at the same time as for federal purposes. Amendments to the Internal Revenue Code
10enacted after December 31, 2000, do not apply to this subdivision with respect to
11taxable years that begin after December 31, 2000, and before January 1, 2002,
12except that changes to the Internal Revenue Code made by P.L. 107-16, excluding
13section 431 of P.L. 107-16, and P.L. 107-22, and changes that indirectly affect the
14provisions applicable to this subchapter made by P.L. 107-16, excluding section 431
15of P.L. 107-16, and P.L. 107-22, apply for Wisconsin purposes at the same time as
16for federal purposes.
AB1-ASA1, s. 203 17Section 203. 71.26 (2) (b) 17. of the statutes is created to read:
AB1-ASA1,112,2518 71.26 (2) (b) 17. For taxable years that begin after December 31, 2001, for a
19corporation, conduit, or common law trust which qualifies as a regulated investment
20company, real estate mortgage investment conduit, real estate investment trust, or
21financial asset securitization investment trust under the Internal Revenue Code as
22amended to December 31, 2001, excluding sections 103, 104, and 110 of P.L. 102-227,
23sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, sections
241123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and section 431 of P.L.
25107-16, and as indirectly affected in the provisions applicable to this subchapter by

1P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179,
2P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L.
3102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150
4(d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
5103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
61311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L.
7105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36, P.L. 106-170, P.L.
8106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, P.L. 107-15, P.L.
9107-16, excluding section 431 of P.L. 107-16, and P.L. 107-22, "net income" means
10the federal regulated investment company taxable income, federal real estate
11mortgage investment conduit taxable income, federal real estate investment trust
12or financial asset securitization investment trust taxable income of the corporation,
13conduit, or trust as determined under the Internal Revenue Code as amended to
14December 31, 2001, excluding sections 103, 104, and 110 of P.L. 102-227, sections
1513113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, sections 1123 (b),
161202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and section 431 of P.L. 107-16,
17and as indirectly affected in the provisions applicable to this subchapter by P.L.
1899-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L.
19101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L.
20102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150
21(d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
22103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
231311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L.
24105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36, P.L. 106-170, P.L.
25106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, P.L. 107-15, P.L.

1107-16, excluding section 431 of P.L. 107-16, and P.L. 107-22, except that property
2that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for
3taxable years 1983 to 1986 under the Internal Revenue Code as amended to
4December 31, 1980, shall continue to be depreciated under the Internal Revenue
5Code as amended to December 31, 1980, and except that the appropriate amount
6shall be added or subtracted to reflect differences between the depreciation or
7adjusted basis for federal income tax purposes and the depreciation or adjusted basis
8under this chapter of any property disposed of during the taxable year. The Internal
9Revenue Code as amended to December 31, 2001, excluding sections 103, 104, and
10110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
11103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and
12section 431 of P.L. 107-16, and as indirectly affected in the provisions applicable to
13this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L.
14101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections
15103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding
16sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L.
17103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections
181123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L.
19104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L.
20106-36, P.L. 106-170, P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L.
21106-573, P.L. 107-15, P.L. 107-16, excluding section 431 of P.L. 107-16, and P.L.
22107-22, applies for Wisconsin purposes at the same time as for federal purposes.
23Amendments to the Internal Revenue Code enacted after December 31, 2001, do not
24apply to this subdivision with respect to taxable years that begin after
25December 31, 2001.
AB1-ASA1, s. 204b
1Section 204b. 71.26 (3) (y) of the statutes is amended to read:
AB1-ASA1,113,122 71.26 (3) (y) A corporation may shall compute amortization and depreciation
3under either the federal Internal Revenue Code as amended to December 31, 1999,
4or the federal Internal Revenue Code in effect for the taxable year for which the
5return is filed
2000, except that property first placed in service by the taxpayer on
6or after January 1, 1983, but before January 1, 1987, that, under s. 71.04 (15) (b) and
7(br), 1985 stats., is required to be depreciated under the Internal Revenue Code as
8amended to December 31, 1980, and property first placed in service in taxable year
91981 or thereafter but before January 1, 1987, that, under s. 71.04 (15) (bm), 1985
10stats., is required to be depreciated under the Internal Revenue Code as amended
11to December 31, 1980, shall continue to be depreciated under the Internal Revenue
12Code as amended to December 31, 1980.
AB1-ASA1, s. 206 13Section 206. 71.34 (1g) (g) of the statutes, as affected by 2001 Wisconsin Act
1416
, is repealed.
AB1-ASA1, s. 207 15Section 207. 71.34 (1g) (h) of the statutes is repealed.
AB1-ASA1, s. 208 16Section 208. 71.34 (1g) (i) of the statutes is amended to read:
AB1-ASA1,114,2317 71.34 (1g) (i) "Internal Revenue Code" for tax-option corporations, for taxable
18years that begin after December 31, 1993, and before January 1, 1995, means the
19federal Internal Revenue Code as amended to December 31, 1993, excluding
20sections 103, 104, and 110 of P.L. 102-227 and sections 13113, 13150 (d), 13171 (d),
2113174, 13203 (d), and 13215 of P.L. 103-66, and as amended by P.L. 103-296, P.L.
22103-337, P.L. 103-465, P.L. 104-7, excluding section 1 of P.L. 104-7, P.L. 104-188,
23excluding section 1311 of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-34, P.L.
24105-206 and, P.L. 105-277, and P.L. 106-554, and as indirectly affected in the
25provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647

1excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2)
2of P.L. 99-514 and section 1008 (g) (5) of P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L.
3101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and
4110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections
513113, 13150 (d), 13171 (d), 13174, 13203 (d), and 13215 of P.L. 103-66, P.L. 103-296,
6P.L. 103-337, P.L. 103-465, P.L. 104-7, excluding section 1 of P.L. 104-7, P.L.
7104-188, excluding section 1311 of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L.
8105-34, P.L. 105-206 and, P.L. 105-277, and P.L. 106-554, except that section 1366
9(f) (relating to pass-through of items to shareholders) is modified by substituting the
10tax under s. 71.35 for the taxes under sections 1374 and 1375. The Internal Revenue
11Code applies for Wisconsin purposes at the same time as for federal purposes.
12Amendments to the federal Internal Revenue Code enacted after
13December 31, 1993, do not apply to this paragraph with respect to taxable years
14beginning after December 31, 1993, and before January 1, 1995, except that
15changes to the Internal Revenue Code made by P.L. 103-296, P.L. 103-337, P.L.
16103-465, P.L. 104-7, excluding section 1 of P.L. 104-7, P.L. 104-188, excluding
17section 1311 of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-34, P.L. 105-206
18and, P.L. 105-277, and P.L. 106-554, and changes that indirectly affect the
19provisions applicable to this subchapter made by P.L. 103-296, P.L. 103-337, P.L.
20103-465, P.L. 104-7, excluding section 1 of P.L. 104-7, P.L. 104-188, excluding
21section 1311 of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-34, P.L. 105-206
22and, P.L. 105-277, and P.L. 106-554, apply for Wisconsin purposes at the same time
23as for federal purposes.
AB1-ASA1, s. 209 24Section 209. 71.34 (1g) (j) of the statutes is amended to read:
AB1-ASA1,116,4
171.34 (1g) (j) "Internal Revenue Code" for tax-option corporations, for taxable
2years that begin after December 31, 1994, and before January 1, 1996, means the
3federal Internal Revenue Code as amended to December 31, 1994, excluding
4sections 103, 104, and 110 of P.L. 102-227 and sections 13113, 13150 (d), 13171 (d),
513174, and 13203 (d) of P.L. 103-66, and as amended by P.L. 104-7, P.L. 104-188,
6excluding sections 1202, 1204, 1311, and 1605 of P.L. 104-188, P.L. 104-191, P.L.
7104-193, P.L. 105-34, P.L. 105-206 and, P.L. 105-277, and P.L. 106-554, and as
8indirectly affected in the provisions applicable to this subchapter by P.L. 99-514, P.L.
9100-203, P.L. 100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821
10(b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L. 100-647, P.L.
11101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
12excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L.
13103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
14103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188,
15excluding sections 1202, 1204, 1311, and 1605 of P.L. 104-188, P.L. 104-191, P.L.
16104-193, P.L. 105-34, P.L. 105-206 and, P.L. 105-277, and P.L. 106-554, except that
17section 1366 (f) (relating to pass-through of items to shareholders) is modified by
18substituting the tax under s. 71.35 for the taxes under sections 1374 and 1375. The
19Internal Revenue Code applies for Wisconsin purposes at the same time as for federal
20purposes. Amendments to the federal Internal Revenue Code enacted after
21December 31, 1994, do not apply to this paragraph with respect to taxable years
22beginning after December 31, 1994, and before January 1, 1996, except changes to
23the Internal Revenue Code made by P.L. 104-7, P.L. 104-188, excluding sections
241202, 1204, 1311, and 1605 of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-34,
25P.L. 105-206 and, P.L. 105-277, and P.L. 106-554, and changes that indirectly affect

1the provisions applicable to this subchapter made by P.L. 104-7, P.L. 104-188,
2excluding sections 1202, 1204, 1311 and 1605 of P.L. 104-188, P.L. 104-191, P.L.
3104-193, P.L. 105-34, P.L. 105-206 and, P.L. 105-277, and P.L. 106-554, apply for
4Wisconsin purposes at the same time as for federal purposes.
AB1-ASA1, s. 210 5Section 210. 71.34 (1g) (k) of the statutes is amended to read:
AB1-ASA1,117,106 71.34 (1g) (k) "Internal Revenue Code" for tax-option corporations, for taxable
7years that begin after December 31, 1995, and before January 1, 1997, means the
8federal Internal Revenue Code as amended to December 31, 1995, excluding
9sections 103, 104, and 110 of P.L. 102-227 and sections 13113, 13150 (d), 13171 (d),
1013174, and 13203 (d) of P.L. 103-66, and as amended by P.L. 104-188, excluding
11sections 1123, 1202, 1204, 1311, and 1605 of P.L. 104-188, P.L. 104-191, P.L.
12104-193, P.L. 105-33, P.L. 105-34, P.L. 105-206 and, P.L. 105-277, and P.L.
13106-554
, and as indirectly affected in the provisions applicable to this subchapter
14by P.L. 99-514, P.L. 100-203, P.L. 100-647 excluding sections 803 (d) (2) (B), 805 (d)
15(2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L.
16100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L.
17102-227, excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L.
18102-486, P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and
1913203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L.
20104-188, excluding sections 1123, 1202, 1204, 1311, and 1605 of P.L. 104-188, P.L.
21104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-206 and, P.L. 105-277,
22and P.L. 106-554
, except that section 1366 (f) (relating to pass-through of items to
23shareholders) is modified by substituting the tax under s. 71.35 for the taxes under
24sections 1374 and 1375. The Internal Revenue Code applies for Wisconsin purposes
25at the same time as for federal purposes. Amendments to the federal Internal

1Revenue Code enacted after December 31, 1995, do not apply to this paragraph with
2respect to taxable years beginning after December 31, 1995, and before
3January 1, 1997, except that changes to the Internal Revenue Code made by P.L.
4104-188, excluding sections 1123, 1202, 1204, 1311, and 1605 of P.L. 104-188, P.L.
5104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-206 and, P.L. 105-277,
6and P.L. 106-554,
and changes that indirectly affect the provisions applicable to this
7subchapter made by P.L. 104-188, excluding sections 1123, 1202, 1204, 1311, and
81605 of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L.
9105-206 and, P.L. 105-277, and P.L. 106-554, apply for Wisconsin purposes at the
10same time as for federal purposes.
AB1-ASA1, s. 211 11Section 211. 71.34 (1g) (L) of the statutes is amended to read:
AB1-ASA1,118,1612 71.34 (1g) (L) "Internal Revenue Code" for tax-option corporations, for taxable
13years that begin after December 31, 1996, and before January 1, 1998, means the
14federal Internal Revenue Code as amended to December 31, 1996, excluding
15sections 103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d),
1613174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and
171605 (d) of P.L. 104-188, and as amended by P.L. 105-33, P.L. 105-34, P.L. 105-206,
18P.L. 105-277 and, P.L. 106-36, P.L. 106-554, and P.L. 107-16, excluding section 431
19of P.L. 107-16
, and as indirectly affected in the provisions applicable to this
20subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647 excluding sections 803 (d) (2)
21(B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008
22(g) (5) of P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L.
23101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L. 102-227, P.L.
24102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d),
2513174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L.

1104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
2(d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L.
3105-206, P.L. 105-277 and, P.L. 106-36, P.L. 106-554, and P.L. 107-16, excluding
4section 431 of P.L. 107-16
, except that section 1366 (f) (relating to pass-through of
5items to shareholders) is modified by substituting the tax under s. 71.35 for the taxes
6under sections 1374 and 1375. The Internal Revenue Code applies for Wisconsin
7purposes at the same time as for federal purposes. Amendments to the federal
8Internal Revenue Code enacted after December 31, 1996, do not apply to this
9paragraph with respect to taxable years beginning after December 31, 1996, and
10before January 1, 1998, except that changes to the Internal Revenue Code made by
11P.L. 105-33, P.L. 105-34, P.L. 105-206, P.L. 105-277 and , P.L. 106-36, P.L. 106-554,
12and P.L. 107-16, excluding section 431 of P.L. 107-16,
and changes that indirectly
13affect the provisions applicable to this subchapter made by P.L. 105-33, P.L. 105-34,
14P.L. 105-206, P.L. 105-277 and, P.L. 106-36, P.L. 106-554, and P.L. 107-16,
15excluding section 431 of P.L. 107-16,
apply for Wisconsin purposes at the same time
16as for federal purposes.
AB1-ASA1, s. 212 17Section 212. 71.34 (1g) (m) of the statutes is amended to read:
AB1-ASA1,119,2318 71.34 (1g) (m) "Internal Revenue Code" for tax-option corporations, for taxable
19years that begin after December 31, 1997, and before January 1, 1999, means the
20federal Internal Revenue Code as amended to December 31, 1997, excluding sections
21103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and
2213203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d)
23of P.L. 104-188, and as amended by P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L.
24106-36 and, P.L. 106-170, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding
25section 431 of P.L. 107-16
, and as indirectly affected in the provisions applicable to

1this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647 excluding sections 803
2(d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section
31008 (g) (5) of P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239,
4P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L. 102-227, P.L.
5102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d),
613174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L.
7104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
8(d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L.
9105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-554,
10P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16
, except that
11section 1366 (f) (relating to pass-through of items to shareholders) is modified by
12substituting the tax under s. 71.35 for the taxes under sections 1374 and 1375. The
13Internal Revenue Code applies for Wisconsin purposes at the same time as for federal
14purposes. Amendments to the federal Internal Revenue Code enacted after
15December 31, 1997, do not apply to this paragraph with respect to taxable years
16beginning after December 31, 1997, and before January 1, 1999, except that
17changes to the Internal Revenue Code made by P.L. 105-178, P.L. 105-206, P.L.
18105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-554, P.L. 106-573, and P.L.
19107-16, excluding section 431 of P.L. 107-16,
and changes that indirectly affect the
20provisions applicable to this subchapter made by P.L. 105-178, P.L. 105-206, P.L.
21105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-554, P.L. 106-573, and P.L.
22107-16, excluding section 431 of P.L. 107-16,
apply for Wisconsin purposes at the
23same time as for federal purposes.
AB1-ASA1, s. 213 24Section 213. 71.34 (1g) (n) of the statutes is amended to read:
AB1-ASA1,121,5
171.34 (1g) (n) "Internal Revenue Code" for tax-option corporations, for taxable
2years that begin after December 31, 1998, and before January 1, 2000, means the
3federal Internal Revenue Code as amended to December 31, 1998, excluding sections
4103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and
513203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d)
6of P.L. 104-188, and as amended by P.L. 106-36 and, P.L. 106-170, P.L. 106-230, P.L.
7106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L.
8107-16
, and as indirectly affected in the provisions applicable to this subchapter by
9P.L. 99-514, P.L. 100-203, P.L. 100-647, excluding sections 803 (d) (2) (B), 805 (d) (2),
10812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L.
11100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L.
12102-227, excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L.
13102-486, P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and
1413203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L.
15104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
16104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L.
17105-206, P.L. 105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-230, P.L. 106-519,
18P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16
,
19except that section 1366 (f) (relating to pass-through of items to shareholders) is
20modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and
211375. The Internal Revenue Code applies for Wisconsin purposes at the same time
22as for federal purposes. Amendments to the federal Internal Revenue Code enacted
23after December 31, 1998, do not apply to this paragraph with respect to taxable years
24beginning after December 31, 1998, and before January 1, 2000, except that
25changes to the Internal Revenue Code made by P.L. 106-36 and, P.L. 106-170, P.L.

1106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding
2section 431 of P.L. 107-16,
and changes that indirectly affect the provisions
3applicable to this subchapter made by P.L. 106-36 and , P.L. 106-170, P.L. 106-230,
4P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of
5P.L. 107-16,
apply for Wisconsin purposes at the same time as for federal purposes.
AB1-ASA1, s. 214 6Section 214. 71.34 (1g) (o) of the statutes is amended to read:
AB1-ASA1,122,117 71.34 (1g) (o) "Internal Revenue Code" for tax-option corporations, for taxable
8years that begin after December 31, 1999, and before January 1, 2001, means the
9federal Internal Revenue Code as amended to December 31, 1999, excluding sections
10103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and
1113203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d)
12of P.L. 104-188, and as amended by P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L.
13106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16
, and
14as indirectly affected in the provisions applicable to this subchapter by P.L. 99-514,
15P.L. 100-203, P.L. 100-647, excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2),
16821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L. 100-647, P.L.
17101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
18excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L.
19103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
20103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188,
21excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L.
22104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L.
23105-277, P.L. 106-36 and, P.L. 106-170, P.L. 106-200, P.L. 106-230, P.L. 106-519,
24P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16
,
25except that section 1366 (f) (relating to pass-through of items to shareholders) is

1modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and
21375. The Internal Revenue Code applies for Wisconsin purposes at the same time
3as for federal purposes. Amendments to the federal Internal Revenue Code enacted
4after December 31, 1999, do not apply to this paragraph with respect to taxable years
5beginning after December 31, 1999, and before January 1, 2001, except that changes
6to the Internal Revenue Code made by P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L.
7106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16, and
8changes that indirectly affect the provisions applicable to this subchapter made by
9P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L.
10107-16, excluding section 431 of P.L. 107-16, apply for Wisconsin purposes at the
11same time as for federal purposes
.
AB1-ASA1, s. 215 12Section 215. 71.34 (1g) (p) of the statutes is created to read:
AB1-ASA1,123,1513 71.34 (1g) (p) "Internal Revenue Code" for tax-option corporations, for taxable
14years that begin after December 31, 2000, and before January 1, 2002, means the
15federal Internal Revenue Code as amended to December 31, 2000, excluding sections
16103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and
1713203 (d) of P.L. 103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d)
18of P.L. 104-188, and as amended by P.L. 107-16, excluding section 431 of P.L. 107-16,
19and P.L. 107-22, and as indirectly affected in the provisions applicable to this
20subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, excluding sections 803 (d) (2)
21(B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008
22(g) (5) of P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L.
23101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L. 102-227, P.L.
24102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d),
2513174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L.

1104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
2(d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L.
3105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36, P.L. 106-170, P.L. 106-200, P.L.
4106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, P.L. 107-16, excluding section
5431 of P.L. 107-16, and P.L. 107-22, except that section 1366 (f) (relating to
6pass-through of items to shareholders) is modified by substituting the tax under s.
771.35 for the taxes under sections 1374 and 1375. The Internal Revenue Code applies
8for Wisconsin purposes at the same time as for federal purposes. Amendments to the
9federal Internal Revenue Code enacted after December 31, 2000, do not apply to this
10paragraph with respect to taxable years beginning after December 31, 2000, and
11before January 1, 2002, except that changes to the Internal Revenue Code made by
12P.L. 107-16, excluding section 431 of P.L. 107-16, and P.L. 107-22, and changes that
13indirectly affect the provisions applicable to this subchapter made by P.L. 107-16,
14excluding section 431 of P.L. 107-16, and P.L. 107-22, apply for Wisconsin purposes
15at the same time as for federal purposes.
AB1-ASA1, s. 216 16Section 216. 71.34 (1g) (q) of the statutes is created to read:
AB1-ASA1,124,1417 71.34 (1g) (q) "Internal Revenue Code" for tax-option corporations, for taxable
18years that begin after December 31, 2001, means the federal Internal Revenue Code
19as amended to December 31, 2001, excluding sections 103, 104, and 110 of P.L.
20102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66,
21sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and section
22431 of P.L. 107-16, and as indirectly affected in the provisions applicable to this
23subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, excluding sections 803 (d) (2)
24(B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008
25(g) (5) of P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L.

1101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L. 102-227, P.L.
2102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d),
313174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L.
4104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
5(d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L.
6105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36, P.L. 106-170, P.L. 106-200, P.L.
7106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, P.L. 107-15, P.L. 107-16,
8excluding section 431 of P.L. 107-16, and P.L. 107-22, except that section 1366 (f)
9(relating to pass-through of items to shareholders) is modified by substituting the
10tax under s. 71.35 for the taxes under sections 1374 and 1375. The Internal Revenue
11Code applies for Wisconsin purposes at the same time as for federal purposes.
12Amendments to the federal Internal Revenue Code enacted after December 31, 2001,
13do not apply to this paragraph with respect to taxable years beginning after
14December 31, 2001.
AB1-ASA1, s. 217b 15Section 217b. 71.365 (1m) of the statutes is amended to read:
AB1-ASA1,125,1616 71.365 (1m) Tax-option corporations; depreciation. A tax-option corporation
17may shall compute amortization and depreciation under either the federal Internal
18Revenue Code as amended to December 31, 1999, or the federal Internal Revenue
19Code in effect for the taxable year for which the return is filed
2000, except that
20property first placed in service by the taxpayer on or after January 1, 1983, but
21before January 1, 1987, that, under s. 71.04 (15) (b) and (br), 1985 stats., is required
22to be depreciated under the Internal Revenue Code as amended to
23December 31, 1980, and property first placed in service in taxable year 1981 or
24thereafter but before January 1, 1987, that, under s. 71.04 (15) (bm), 1985 stats., is
25required to be depreciated under the Internal Revenue Code as amended to

1December 31, 1980, shall continue to be depreciated under the Internal Revenue
2Code as amended to December 31, 1980. Any difference between the adjusted basis
3for federal income tax purposes and the adjusted basis under this chapter shall be
4taken into account in determining net income or loss in the year or years for which
5the gain or loss is reportable under this chapter. If that property was placed in
6service by the taxpayer during taxable year 1986 and thereafter but before the
7property is used in the production of income subject to taxation under this chapter,
8the property's adjusted basis and the depreciation or other deduction schedule are
9not required to be changed from the amount allowable on the owner's federal income
10tax returns for any year because the property is used in the production of income
11subject to taxation under this chapter. If that property was acquired in a transaction
12in taxable year 1986 or thereafter in which the adjusted basis of the property in the
13hands of the transferee is the same as the adjusted basis of the property in the hands
14of the transferor, the Wisconsin adjusted basis of that property on the date of transfer
15is the adjusted basis allowable under the Internal Revenue Code as defined for
16Wisconsin purposes for the property in the hands of the transferor.
AB1-ASA1, s. 219 17Section 219. 71.42 (2) (f) of the statutes is repealed.
AB1-ASA1, s. 220 18Section 220. 71.42 (2) (g) of the statutes is repealed.
AB1-ASA1, s. 221 19Section 221. 71.42 (2) (h) of the statutes is amended to read:
AB1-ASA1,126,2220 71.42 (2) (h) For taxable years that begin after December 31, 1993, and before
21January 1, 1995, "Internal Revenue Code" means the federal Internal Revenue Code
22as amended to December 31, 1993 excluding sections 103, 104, and 110 of P.L.
23102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) , and 13215 of P.L.
24103-66, and as amended by P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7,
25excluding section 1 of P.L. 104-7, P.L. 104-188, excluding section 1311 of P.L.

1104-188, P.L. 104-191, P.L. 104-193, P.L. 105-34, P.L. 105-206 and, P.L. 105-277,
2and P.L. 106-554
, and as indirectly affected by P.L. 99-514, P.L. 100-203, P.L.
3100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L.
4102-227, excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L.
5102-486 and P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174,
613203 (d), and 13215 of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L.
7104-7, excluding section 1 of P.L. 104-7, P.L. 104-188, excluding section 1311 of P.L.
8104-188, P.L. 104-191, P.L. 104-193, P.L. 105-34, P.L. 105-206 and, P.L. 105-277,
9and P.L. 106-554
, except that "Internal Revenue Code" does not include section 847
10of the federal Internal Revenue Code. The Internal Revenue Code applies for
11Wisconsin purposes at the same time as for federal purposes. Amendments to the
12federal Internal Revenue Code enacted after December 31, 1993, do not apply to this
13paragraph with respect to taxable years beginning after December 31, 1993, and
14before January 1, 1995, except that changes to the Internal Revenue Code made by
15P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, excluding section 1 of P.L.
16104-7, P.L. 104-188, excluding section 1311 of P.L. 104-188, P.L. 104-191, P.L.
17104-193, P.L. 105-34, P.L. 105-206 and, P.L. 105-277, and P.L. 106-554, and
18changes that indirectly affect the provisions applicable to this subchapter made by
19P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, excluding section 1 of P.L.
20104-7, P.L. 104-188, excluding section 1311 of P.L. 104-188, P.L. 104-191, P.L.
21104-193, P.L. 105-34, P.L. 105-206 and, P.L. 105-277, and P.L. 106-554, apply for
22Wisconsin purposes at the same time as for federal purposes.
AB1-ASA1, s. 222 23Section 222. 71.42 (2) (i) of the statutes is amended to read:
AB1-ASA1,127,2424 71.42 (2) (i) For taxable years that begin after December 31, 1994, and before
25January 1, 1996, "Internal Revenue Code" means the federal Internal Revenue Code

1as amended to December 31, 1994, excluding sections 103, 104, and 110 of P.L.
2102-227 and sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
3103-66, and as amended by P.L. 104-7, P.L. 104-188, excluding sections 1202, 1204,
41311, and 1605 of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-34, P.L.
5105-206 and, P.L. 105-277, and P.L. 106-554, and as indirectly affected by P.L.
699-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L.
7101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L.
8102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150
9(d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
10103-465, P.L. 104-7, P.L. 104-188, excluding sections 1202, 1204, 1311, and 1605 of
11P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-34, P.L. 105-206 and, P.L.
12105-277, and P.L. 106-554, except that "Internal Revenue Code" does not include
13section 847 of the federal Internal Revenue Code. The Internal Revenue Code
14applies for Wisconsin purposes at the same time as for federal purposes.
15Amendments to the federal Internal Revenue Code enacted after
16December 31, 1994, do not apply to this paragraph with respect to taxable years
17beginning after December 31, 1994, and before January 1, 1996, except that
18changes to the Internal Revenue Code made by P.L. 104-7, P.L. 104-188, excluding
19sections 1202, 1204, 1311, and 1605 of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L.
20105-34, P.L. 105-206 and, P.L. 105-277, and P.L. 106-554, and changes that
21indirectly affect the provisions applicable to this subchapter made by P.L. 104-7, P.L.
22104-188, excluding sections 1202, 1204, 1311, and 1605 of P.L. 104-188, P.L.
23104-191, P.L. 104-193, P.L. 105-34, P.L. 105-206 and, P.L. 105-277, and P.L.
24106-554,
apply for Wisconsin purposes at the same time as for federal purposes.
AB1-ASA1, s. 223 25Section 223. 71.42 (2) (j) of the statutes is amended to read:
AB1-ASA1,129,2
171.42 (2) (j) For taxable years that begin after December 31, 1995, and before
2January 1, 1997, "Internal Revenue Code" means the federal Internal Revenue Code
3as amended to December 31, 1995, excluding sections 103, 104 , and 110 of P.L.
4102-227 and sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
5103-66, and as amended by P.L. 104-188, excluding sections 1123, 1202, 1204, 1311,
6and 1605 of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L.
7105-206 and, P.L. 105-277, and P.L. 106-554, and as indirectly affected by P.L.
899-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L.
9101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L.
10102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150
11(d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
12103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123, 1202, 1204, 1311, and
131605 of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L.
14105-206 and, P.L. 105-277, and P.L. 106-554, except that "Internal Revenue Code"
15does not include section 847 of the federal Internal Revenue Code. The Internal
16Revenue Code applies for Wisconsin purposes at the same time as for federal
17purposes. Amendments to the federal Internal Revenue Code enacted after
18December 31, 1995, do not apply to this paragraph with respect to taxable years
19beginning after December 31, 1995, and before January 1, 1997, except that
20changes to the Internal Revenue Code made by P.L. 104-188, excluding sections
211123, 1202, 1204, 1311, and 1605 of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L.
22105-33, P.L. 105-34, P.L. 105-206 and, P.L. 105-277, and P.L. 106-554, and changes
23that indirectly affect the provisions applicable to this subchapter made by P.L.
24104-188, excluding sections 1123, 1202, 1204, 1311, and 1605 of P.L. 104-188, P.L.
25104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-206 and, P.L. 105-277,

1and P.L. 106-554, apply for Wisconsin purposes at the same time as for federal
2purposes.
AB1-ASA1, s. 224 3Section 224. 71.42 (2) (k) of the statutes is amended to read:
AB1-ASA1,130,44 71.42 (2) (k) For taxable years that begin after December 31, 1996, and before
5January 1, 1998, "Internal Revenue Code" means the federal Internal Revenue Code
6as amended to December 31, 1996, excluding sections 103, 104 , and 110 of P.L.
7102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66
8and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and as
9amended by P.L. 105-33, P.L. 105-34, P.L. 105-206, P.L. 105-277 and, P.L. 106-36,
10P.L. 106-554, and P.L. 107-16, excluding section 431 of P.L. 107-16
, and as indirectly
11affected by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L.
12101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and
13110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections
1413113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L.
15103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202
16(c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L.
17105-33, P.L. 105-34, P.L. 105-206, P.L. 105-277 and, P.L. 106-36, P.L. 106-554, and
18P.L. 107-16, excluding section 431 of P.L. 107-16
, except that "Internal Revenue
19Code" does not include section 847 of the federal Internal Revenue Code. The
20Internal Revenue Code applies for Wisconsin purposes at the same time as for federal
21purposes. Amendments to the federal Internal Revenue Code enacted after
22December 31, 1996, do not apply to this paragraph with respect to taxable years
23beginning after December 31, 1996, and before January 1, 1998, except that
24changes to the Internal Revenue Code made by P.L. 105-33, P.L. 105-34, P.L.
25105-206, P.L. 105-277 and, P.L. 106-36, P.L. 106-554, and P.L. 107-16, excluding

1section 431 of P.L. 107-16,
and changes that indirectly affect the provisions
2applicable to this subchapter made by P.L. 105-33, P.L. 105-34, P.L. 105-206, P.L.
3105-277 and, P.L. 106-36, P.L. 106-554, and P.L. 107-16, excluding section 431 of
4P.L. 107-16,
apply for Wisconsin purposes at the same time as for federal purposes.
AB1-ASA1, s. 225 5Section 225. 71.42 (2) (L) of the statutes is amended to read:
AB1-ASA1,131,76 71.42 (2) (L) For taxable years that begin after December 31, 1997, and before
7January 1, 1999, "Internal Revenue Code" means the federal Internal Revenue Code
8as amended to December 31, 1997, excluding sections 103, 104, and 110 of P.L.
9102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66
10and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and as
11amended by P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and, P.L. 106-170,
12P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16
,
13and as indirectly affected by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73,
14P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding
15sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66,
16excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66,
17P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding
18sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191,
19P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277,
20P.L. 106-36 and, P.L. 106-170, P.L. 106-554, P.L. 106-573, and P.L. 107-16,
21excluding section 431 of P.L. 107-16
, except that "Internal Revenue Code" does not
22include section 847 of the federal Internal Revenue Code. The Internal Revenue
23Code applies for Wisconsin purposes at the same time as for federal purposes.
24Amendments to the federal Internal Revenue Code enacted after December 31, 1997,
25do not apply to this paragraph with respect to taxable years beginning after

1December 31, 1997, and before January 1, 1999, except that changes to the Internal
2Revenue Code made by P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and,
3P.L. 106-170, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of
4P.L. 107-16,
and changes that indirectly affect the provisions applicable to this
5subchapter made by P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and, P.L.
6106-170, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L.
7107-16,
apply for Wisconsin purposes at the same time as for federal purposes.
AB1-ASA1, s. 226 8Section 226. 71.42 (2) (m) of the statutes is amended to read:
AB1-ASA1,132,109 71.42 (2) (m) For taxable years that begin after December 31, 1998, and before
10January 1, 2000, "Internal Revenue Code" means the federal Internal Revenue Code
11as amended to December 31, 1998, excluding sections 103, 104, and 110 of P.L.
12102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66
13and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and as
14amended by P.L. 106-36 and, P.L. 106-170, P.L. 106-230, P.L. 106-519, P.L. 106-554,
15P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16
, and as indirectly
16affected by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L.
17101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and
18110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections
1913113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L.
20103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202
21(c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L.
22105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and, P.L.
23106-170, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16,
24excluding section 431 of P.L. 107-16
, except that "Internal Revenue Code" does not
25include section 847 of the federal Internal Revenue Code. The Internal Revenue

1Code applies for Wisconsin purposes at the same time as for federal purposes.
2Amendments to the federal Internal Revenue Code enacted after December 31, 1998,
3do not apply to this paragraph with respect to taxable years beginning after
4December 31, 1998, and before January 1, 2000, except that changes to the Internal
5Revenue Code made by P.L. 106-36 and, P.L. 106-170, P.L. 106-230, P.L. 106-519,
6P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16,

7and changes that indirectly affect the provisions applicable to this subchapter made
8by P.L. 106-36 and, P.L. 106-170, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L.
9106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16,
apply for Wisconsin
10purposes at the same time as for federal purposes.
AB1-ASA1, s. 227 11Section 227. 71.42 (2) (n) of the statutes is amended to read:
AB1-ASA1,133,1312 71.42 (2) (n) For taxable years that begin after December 31, 1999, and before
13January 1, 2001,
"Internal Revenue Code" means the federal Internal Revenue Code
14as amended to December 31, 1999, excluding sections 103, 104, and 110 of P.L.
15102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66
16and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and as
17amended by P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573,
18and P.L. 107-16, excluding section 431 of P.L. 107-16
, and as indirectly affected by
19P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179,
20P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L.
21102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150
22(d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
23103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
241311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L.
25105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36 and, P.L. 106-170,

1P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L.
2107-16, excluding section 431 of P.L. 107-16
, except that "Internal Revenue Code"
3does not include section 847 of the federal Internal Revenue Code. The Internal
4Revenue Code applies for Wisconsin purposes at the same time as for federal
5purposes. Amendments to the federal Internal Revenue Code enacted after
6December 31, 1999, do not apply to this paragraph with respect to taxable years
7beginning after December 31, 1999, and before January 1, 2001, except that changes
8to the Internal Revenue Code made by P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L.
9106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16, and
10changes that indirectly affect the provisions applicable to this subchapter made by
11P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L.
12107-16, excluding section 431 of P.L. 107-16, apply for Wisconsin purposes at the
13same time as for federal purposes
.
AB1-ASA1, s. 228 14Section 228. 71.42 (2) (o) of the statutes is created to read:
AB1-ASA1,134,1415 71.42 (2) (o) For taxable years that begin after December 31, 2000, and before
16January 1, 2002, "Internal Revenue Code" means the federal Internal Revenue Code
17as amended to December 31, 2000, excluding sections 103, 104, and 110 of P.L.
18102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66,
19and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and as
20amended by P.L. 107-16, excluding section 431 of P.L. 107-16, and P.L. 107-22, and
21as indirectly affected by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L.
22101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections
23103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding
24sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L.
25103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections

11123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L.
2104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L.
3106-36, P.L. 106-170, P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L.
4106-573, P.L. 107-16, excluding section 431 of P.L. 107-16, and P.L. 107-22, except
5that "Internal Revenue Code" does not include section 847 of the federal Internal
6Revenue Code. The Internal Revenue Code applies for Wisconsin purposes at the
7same time as for federal purposes. Amendments to the federal Internal Revenue
8Code enacted after December 31, 2000, do not apply to this paragraph with respect
9to taxable years beginning after December 31, 2000, and before January 1, 2002,
10except that changes to the Internal Revenue Code made by P.L. 107-16, excluding
11section 431 of P.L. 107-16, and P.L. 107-22, and changes that indirectly affect the
12provisions applicable to this subchapter made by P.L. 107-16, excluding section 431
13of P.L. 107-16, and P.L. 107-22, apply for Wisconsin purposes at the same time as
14for federal purposes.
AB1-ASA1, s. 229 15Section 229. 71.42 (2) (p) of the statutes is created to read:
AB1-ASA1,135,916 71.42 (2) (p) For taxable years that begin after December 31, 2001, "Internal
17Revenue Code" means the federal Internal Revenue Code as amended to
18December 31, 2001, excluding sections 103, 104, and 110 of P.L. 102-227, sections
1913113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, sections 1123 (b),
201202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and section 431 of P.L. 107-16,
21and as indirectly affected by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73,
22P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding
23sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66,
24excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66,
25P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding

1sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191,
2P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277,
3P.L. 106-36, P.L. 106-170, P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554,
4P.L. 106-573, P.L. 107-15, P.L. 107-16, excluding section 431 of P.L. 107-16, and P.L.
5107-22, except that "Internal Revenue Code" does not include section 847 of the
6federal Internal Revenue Code. The Internal Revenue Code applies for Wisconsin
7purposes at the same time as for federal purposes. Amendments to the federal
8Internal Revenue Code enacted after December 31, 2001, do not apply to this
9paragraph with respect to taxable years beginning after December 31, 2001.
AB1-ASA1, s. 230b 10Section 230b. 71.45 (2) (a) 13. of the statutes is amended to read:
AB1-ASA1,135,2311 71.45 (2) (a) 13. By adding or subtracting, as appropriate, the difference
12between the
depreciation deduction under the federal Internal Revenue Code as
13amended to December 31, 1999 and the depreciation deduction under the federal
14Internal Revenue Code in effect for the taxable year for which the return is filed, so
15as to reflect the fact that the insurer may choose between these 2 deductions
2000,
16except that property first placed in service by the taxpayer on or after
17January 1, 1983, but before January 1, 1987, that, under s. 71.04 (15) (b) and (br),
181985 stats., is required to be depreciated under the Internal Revenue Code as
19amended to December 31, 1980, and property first placed in service in taxable year
201981 or thereafter but before January 1, 1987, that, under s. 71.04 (15) (bm), 1985
21stats., is required to be depreciated under the Internal Revenue Code as amended
22to December 31, 1980, shall continue to be depreciated under the Internal Revenue
23Code as amended to December 31, 1980.
AB1-ASA1, s. 231c 24Section 231c. 71.45 (3) (intro.) of the statutes is amended to read:
AB1-ASA1,136,9
171.45 (3) Apportionment. (intro.) With respect Except as provided in sub. (3d),
2to determine Wisconsin income for purposes of the franchise tax, domestic insurers
3not engaged in the sale of life insurance but which that, in the taxable year, have
4collected received premiums, other than life insurance premiums, written on
5subjects of
for insurance on property or risks resident, located or to be performed
6outside this state, there shall be subtracted from multiply the net income figure
7derived by application of sub. (2) (a) to arrive at Wisconsin income constituting the
8measure of the franchise tax an amount calculated by multiplying such adjusted
9federal taxable income
by the arithmetic average of the following 2 percentages:
AB1-ASA1, s. 231d 10Section 231d. 71.45 (3) (a) of the statutes is amended to read:
AB1-ASA1,137,211 71.45 (3) (a) The Subject to sub. (3d), the percentage of total determined by
12dividing the sum of direct
premiums written on all property and risks for insurance
13other than life insurance, with respects to all property and risks resident, located,
14or to be performed in this state, and assumed premiums written for reinsurance,
15other than life insurance, with respect to all property and risks resident, located, or
16to be performed in this state, by the sum of direct premiums written for insurance
17on all property and risks, other than life insurance,
wherever located during the
18taxable year, as reflects
, and assumed premiums written on insurance for
19reinsurance on all property and risks
, other than life insurance, where the subject
20of insurance was resident, located or to be performed outside this state
wherever
21located. In this paragraph, "direct premiums" means direct premiums as reported
22for the taxable year on an annual statement that is filed by the insurer with the
23commissioner of insurance under s. 601.42 (1g) (a). In this paragraph, "assumed
24premiums" means assumed reinsurance premiums from domestic insurance

1companies as reported for the taxable year on an annual statement that is filed with
2the commissioner of insurance under s. 601.42 (1g) (a)
.
AB1-ASA1, s. 231e 3Section 231e. 71.45 (3) (b) of the statutes is renumbered 71.45 (3) (b) 1. and
4amended to read:
AB1-ASA1,137,95 71.45 (3) (b) 1. The Subject to sub. (3d), the percentage of determined by
6dividing the payroll, exclusive of life insurance payroll, paid in this state in the
7taxable year by
total payroll, exclusive of life insurance payroll, paid everywhere in
8the taxable year as reflects such compensation paid outside this state.
9Compensation
.
AB1-ASA1,137,18 102. Under subd. 1., payroll is paid outside in this state if the individual's service
11is performed entirely outside in this state; or the individual's service is performed
12both within and without in and outside this state, but the service performed within
13outside this state is incidental to the individual's service without in this state; or
14some service is performed without in this state and the base of operations, or if there
15is no base of operations, the place from which the service is directed or controlled is
16without in this state, or the base of operations or the place from which the service is
17directed or controlled is not in any state in which some part of the service is
18performed, but the individual's residence is outside in this state.
AB1-ASA1, s. 231f 19Section 231f. 71.45 (3d) of the statutes is created to read:
AB1-ASA1,137,2520 71.45 (3d) Premiums factor; domestic insurers. For taxable years beginning
21after December 31, 2003, a domestic insurer that is subject to apportionment under
22sub. (3) and this subsection shall multiply the net income figure derived by the
23application of sub. (2) by an apportionment fraction composed of the percentage
24under sub. (3) (a) representing 55% of the fraction and the percentage under sub. (3)
25(b) 1. representing 45% of the fraction.
AB1-ASA1, s. 231g
1Section 231g. 71.45 (3m) of the statutes is amended to read:
AB1-ASA1,138,92 71.45 (3m) Arithmetic average. The Except as provided in sub. (3d), the
3arithmetic average of the 2 percentages referred to in sub. (3) shall be applied to the
4net income figure arrived at by the successive application of sub. (2) (a) and (b) with
5respect to Wisconsin insurers to which sub. (2) (a) and (b) applies and which have
6collected received premiums, other than life insurance premiums, written upon for
7insurance, other than life insurance, where the subject of such insurance was on
8property or risks
resident, located or to be performed outside this state, to arrive at
9Wisconsin income constituting the measure of the franchise tax.
AB1-ASA1, s. 232 10Section 232. 71.83 (2) (b) of the statutes is amended to read:
AB1-ASA1,138,2011 71.83 (2) (b) Felony. 1. `False income tax return; fraud.' Any person, other than
12a corporation or limited liability company, who renders a false or fraudulent income
13tax return with intent to defeat or evade any assessment required by this chapter
14shall be is guilty of a Class H felony and may be fined not more than $10,000 or
15imprisoned for not more than 7 years and 6 months or both, together with
assessed
16the cost of prosecution. In this subdivision, "return" includes a separate return filed
17by a spouse with respect to a taxable year for which a joint return is filed under s.
1871.03 (2) (g) to (L) after the filing of that separate return, and a joint return filed by
19the spouses with respect to a taxable year for which a separate return is filed under
20s. 71.03 (2) (m) after the filing of that joint return.
AB1-ASA1,139,221 2. `Officer of a corporation; false franchise or income tax return.' Any officer
22of a corporation or manager of a limited liability company required by law to make,
23render, sign or verify any franchise or income tax return, who makes any false or
24fraudulent franchise or income tax return, with intent to defeat or evade any
25assessment required by this chapter shall be is guilty of a Class H felony and may

1be fined not more than $10,000 or imprisoned for not more than 7 years and 6 months
2or both, together with
assessed the cost of prosecution.
AB1-ASA1,139,83 3. `Evasion.' Any person who removes, deposits or conceals or aids in removing,
4depositing or concealing any property upon which a levy is authorized with intent
5to evade or defeat the assessment or collection of any tax administered by the
6department is guilty of a Class I felony and may be fined not more than $5,000 or
7imprisoned for not more than 4 years and 6 months or both, together with
assessed
8the costs cost of prosecution.
AB1-ASA1,139,169 4. `Fraudulent claim for credit.' The A claimant who filed files a claim for credit
10under s. 71.07, 71.28 or 71.47 or subch. VIII or IX that is false or excessive and was
11filed with fraudulent intent and any person who assisted , with fraudulent intent,
12assists
in the preparation or filing of the false or excessive claim or supplied
13information upon which the false or excessive claim was prepared, with fraudulent
14intent,
is guilty of a Class H felony and may be fined not more than $10,000 or
15imprisoned for not more than 7 years and 6 months or both, together with
assessed
16the cost of prosecution.
AB1-ASA1, s. 233m 17Section 233m. 79.005 (3) of the statutes is amended to read:
AB1-ASA1,139,1918 79.005 (3) "Production plant" also includes does not include substations and
19general structures
.
AB1-ASA1, s. 234 20Section 234. 79.01 (1) of the statutes, as affected by 2001 Wisconsin Act 16,
21is amended to read:
AB1-ASA1,140,222 79.01 (1) There is established an account in the general fund entitled the
23"Expenditure Restraint Program Account." There shall be appropriated to that
24account $25,000,000 in 1991, in 1992, and in 1993; $42,000,000 in 1994; $48,000,000
25in each year beginning in 1995 and ending in 1999; $57,000,000 in the year 2000 and

1in the year 2001; and $57,570,000 in 2002 ; and $58,145,700 in 2003 and in each year
2thereafter
.
AB1-ASA1, s. 234b 3Section 234b. 79.01 (2d) of the statutes is created to read:
AB1-ASA1,140,74 79.01 (2d) There is established an account in the general fund entitled the
5"County and Municipal Aid Account." There shall be appropriated to that account
6$750,000,000 in 2003 and $487,000,000 in 2004 and in each year thereafter, plus any
7additional amounts determined under s. 79.035 (2).
AB1-ASA1, s. 234d 8Section 234d. 79.01 (2m) of the statutes is created to read:
AB1-ASA1,140,129 79.01 (2m) There is established an account in the general fund entitled the
10"Public Utility Distribution Account," referred to in this chapter as the "public utility
11account." There shall be appropriated to the public utility account the sums specified
12in s. 79.04 (4), (6), and (7).
AB1-ASA1, s. 234r 13Section 234r. 79.015 of the statutes is amended to read:
AB1-ASA1,140,17 1479.015 Statement of estimated payments. The department of revenue, on
15or before September 15 of each year, shall provide to each municipality and county
16a statement of estimated payments to be made in the next calendar year to the
17municipality or county under ss. 79.03, 79.035, 79.04, 79.05, 79.058, and 79.06.
AB1-ASA1, s. 236 18Section 236. 79.02 (2) (b) of the statutes is amended to read:
AB1-ASA1,140,2119 79.02 (2) (b) Subject to s. 59.605 (4), payments in July shall equal 15% of the
20municipality's or county's estimated payments under ss. 79.03, 79.035, 79.04, 79.058,
21and 79.06 and 100% of the municipality's estimated payments under s. 79.05.
AB1-ASA1, s. 238 22Section 238. 79.02 (3) of the statutes is amended to read:
AB1-ASA1,141,723 79.02 (3) Subject to s. 59.605 (4), payments to each municipality and county in
24November shall equal that municipality's or county's entitlement to shared revenues
25under ss. 79.03, 79.035, 79.04, 79.05, 79.058, and 79.06 for the current year, minus

1the amount distributed to the municipality or county in July. In November 2002, the
2amount of the payments to each municipality and county under ss. 79.03, 79.04,
379.05, 79.058, and 79.06 to be paid from the appropriation account under s. 20.855
4(4) (rb) shall be the amount of such payments to the municipality or county
5multiplied by the quotient of an amount equal to the moneys available, as
6determined by the department of administration, from the appropriation account
7under s. 20.855 (4) (rb) divided by $826,068,930.
AB1-ASA1, s. 239 8Section 239. 79.03 (1) of the statutes is amended to read:
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