SB62, s. 139
8Section
139. 71.07 (6n) of the statutes is created to read:
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71.07
(6n) Campaign contribution tax credit. (a)
Definitions. In this
10subsection:
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1. "Candidate" means a candidate, as defined in s. 11.01 (1), for state office who
12files an application under s. 11.50 (2) for a grant from the Wisconsin election
13campaign fund that has been accepted by the elections board.
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2. "Claimant" means an individual who makes a contribution to a candidate
15and who resides within the same electoral district as the candidate to whom that
16contribution is made.
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3. "Contribution" means a contribution, as defined in s. 11.01 (6), made to a
18candidate or political party committee by an individual for which the individual
19receives a receipt on a form prescribed by the department.
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4. "Department" means the department of revenue.
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5. "Electoral district" means the geographical area that constitutes the
22jurisdiction of the office that a candidate seeks.
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6. "Political party committee" means a state or county committee of a political
24party, as defined in s. 5.02 (13), that on the first day of the taxable year in which a
1contribution is made is a recognized political party as defined in s. 5.02 (16m) and
2is registered with the elections board under s. 11.05 (1).
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7. "State office" has the meaning given in s. 5.02 (23).
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(b)
Filing claims. Subject to the limitations provided in this subsection, a
5claimant may claim as a credit against the tax imposed under s. 71.02, up to the
6amount of those taxes, an amount equal to the claimant's contribution not exceeding
7$50 for each candidate to whom or political party committee to which the claimant
8makes a contribution.
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(c)
Limitation. The total amount of the credits under this subsection shall not
10exceed $100 in a taxable year for each claimant.
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(d)
Time period. No credit may be allowed under this subsection unless it is
12claimed within the time period under s. 71.75 (2).
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(e)
Administration. 1. Subsection (9e) (d), to the extent that it applies to the
14credit under that subsection, applies to the credit under this subsection.
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2. The department shall create and make available to candidates a form to be
16used by candidates and political party committees in issuing receipts for
17contributions.
SB62, s. 140
18Section
140. 71.10 (3) (a) of the statutes is amended to read:
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71.10
(3) (a) Every individual filing an income tax return who has a tax liability
20or is entitled to a tax refund may designate
$1 $5 for
transfer to the Wisconsin
21election campaign fund
for the use of eligible candidates under s. 11.50. If the
22individuals filing a joint return have a tax liability or are entitled to a tax refund,
23each individual may make a designation of
$1 $5 under this subsection.
Each
24individual making a designation shall indicate whether the amount designated by
25that individual shall be placed in the general account for the use of all eligible
1candidates for state office, or in the account of an eligible political party whose name
2is certified to the secretary of revenue under s. 11.50 (14). If an individual does not
3indicate that the amount of his or her designation shall be placed in the account of
4a particular eligible political party, that amount shall be placed in the general
5account.
SB62, s. 141
6Section
141
. 71.10 (3) (b) of the statutes is amended to read:
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71.10
(3) (b) The secretary of revenue shall provide a place for
those 8designations
under par. (a) on the face of the individual income tax return and shall
9provide next to that place a statement that a designation will not increase tax
10liability.
Annually on August 15 The secretary shall also provide and highlight a
11place in the instructions that accompany the return for any information submitted
12to the secretary by the elections board under s. 11.50 (2m) without cost to the board.
13No later than the 15th day of each month, the secretary of revenue shall certify to
14the elections board, the department of administration and the state treasurer
under
15s. 11.50 the total amount of designations made
on returns processed by the
16department of revenue during the preceding
fiscal year month and the amount of
17designations made during that month for the general account and for the account of
18each eligible political party. If any individual attempts to place any condition or
19restriction upon a designation
not authorized under par. (a), that individual is
20deemed not to have made a designation on his or her tax return.
SB62, s. 142
21Section
142. 71.10 (4) (cn) of the statutes is created to read:
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71.10
(4) (cn) Campaign contribution tax credit under s. 71.07 (6n).
SB62, s. 143
23Section
143. 71.26 (1) (a) of the statutes is amended to read:
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71.26
(1) (a)
Certain corporations. Income of corporations organized under ch.
25185, except income of a cooperative sickness care association organized under s.
1185.981, or of a service insurance corporation organized under ch. 613, that is derived
2from a health maintenance organization as defined in s. 609.01 (2) or a limited
3service health organization as defined in s. 609.01 (3), or operating under subch. I
4of ch. 616 which are bona fide cooperatives operated without pecuniary profit to any
5shareholder or member, or operated on a cooperative plan pursuant to which they
6determine and distribute their proceeds in substantial compliance with s. 185.45,
7and the income, except the unrelated business taxable income as defined in section
8512 of the internal revenue code and except income that is derived from a health
9maintenance organization as defined in s. 609.01 (2) or a limited service health
10organization as defined in s. 609.01 (3), of all religious, scientific, educational,
11benevolent or other corporations or associations of individuals not organized or
12conducted for pecuniary profit.
In computing unrelated business taxable income for
13the purposes of this paragraph, the expenses that are deductible under section 162
14(e) (1) of the Internal Revenue Code because of the exception contained in section 162
15(e) (5) of the Internal Revenue Code may not be deducted. This paragraph does not
16apply to the income of savings banks, mutual loan corporations or savings and loan
17associations. This paragraph does not apply to income that is realized from the sale
18of or purchase and subsequent sale or redemption of lottery prizes if the winning
19tickets were originally bought in this state. This paragraph applies to the income of
20credit unions except to the income of any credit union that is derived from public
21deposits for any taxable year in which the credit union is approved as a public
22depository under ch. 34 and acts as a depository of state or local funds under s.
23186.113 (20). For purposes of this paragraph, the income of a credit union that is
24derived from public deposits is the product of the credit union's gross annual income
25for the taxable year multiplied by a fraction, the numerator of which is the average
1monthly balance of public deposits in the credit union during the taxable year, and
2the denominator of which is the average monthly balance of all deposits in the credit
3union during the taxable year.
SB62, s. 144
4Section
144. 71.26 (2) (b) 1g. of the statutes is created to read:
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71.26
(2) (b) 1g. In computing the net income under this paragraph of a
6corporation, conduit or common law trust that qualifies as a regulated investment
7company, real estate mortgage investment conduit or real estate investment trust,
8expenses that are deductible under section
162 (e) (1) of the Internal Revenue Code
9because of the exception contained in section
162 (e) (5) of the Internal Revenue Code
10may not be deducted.
SB62, s. 145
11Section
145. 71.26 (3) (e) 4. of the statutes is created to read:
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71.26
(3) (e) 4. So that expenses that are deductible under section
162 (e) (1)
13of the Internal Revenue Code because of the exception contained in section
162 (e)
14(5) of the Internal Revenue Code may not be deducted.
SB62, s. 146
15Section
146. 71.34 (1) (ad) of the statutes is created to read:
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71.34
(1) (ad) The expenses that are deductible under section
162 (e) (1) of the
17Internal Revenue Code because of the exception contained in section
162 (e) (5) of the
18Internal Revenue Code may not be deducted.
SB62, s. 147
19Section
147. 71.45 (2) (a) 16. of the statutes is created to read:
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71.45
(2) (a) 16. By adding to federal taxable income the amount of any
21expenses that are deductible under section
162 (e) (1) of the Internal Revenue Code
22because of the exception contained in section
162 (e) (5) of the Internal Revenue Code.
SB62, s. 148
23Section
148. 806.04 (11m) of the statutes is created to read:
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806.04
(11m) Campaign finance registration. Any person who proposes to
25publish, disseminate or broadcast, or causes to be published, disseminated or
1broadcast, any communication may commence a proceeding under this section to
2determine the application to that person of a registration requirement under s. 11.05
3(1), (2) or (2g).
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(1)
Elections board appointments. Notwithstanding sections 15.07 (1) (c) and
615.61 of the statutes, each political party that qualified for a separate ballot under
7section 5.62 (1) (b) or (2) of the statutes at the September primary election preceding
8the effective date of this subsection, but that did not designate an individual to the
9governor for appointment to the elections board under section 15.61 of the statutes
10may designate an individual to the governor for appointment to the elections board
11to serve for a term expiring on May 1 of the odd-numbered year following the
12appointment.
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(2)
Nonseverability. Notwithstanding section 990.01 (11) of the statutes, if a
14court finds that all or any portion of section 11.01 (16) (a) 3., 11.12 (6) (c) or (8), or 11.50
15(9) (b) or (ba) of the statutes, as created by this act, or section 11.06 (2) of the statutes,
16as affected by this act, is unconstitutional, then sections 11.01 (16) (a) 3., 11.12 (6)
17(c) and (8) and 11.50 (9) (b) and (ba) of the statutes, as created by this act, and the
18treatment of section 11.06 (2) of the statutes by this act are void in their entirety.
SB62, s. 150
19Section
150.
Appropriation changes; elections board.
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(1)
In the schedule under section 20.005 (3) of the statutes for the appropriation
21to the elections board under section 20.510 (1) (a) of the statutes, as affected by the
22acts of 2001, the dollar amount is increased by $76,100 for fiscal year 2001-02 and
23the dollar amount is increased by $85,100 for fiscal year 2002-03 to increase the
24authorized FTE positions for the elections board by 1.0 GPR campaign finance
1investigator position and 1.0 GPR auditor position and to fund supporting expenses
2for these positions.
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(1) Except as provided in subsections (1) and (2), this act first applies to
5elections held on the day after publication.
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(2) The treatment of sections 11.50 (2m), 71.05 (6) (a) 21., 71.07 (5) (a) 9. and
7(6n), 71.10 (3) (a) and (4) (cn), 71.26 (1) (a), (2) (b) 1g., and (3) (e) 4., 71.34 (1) (ad), and
871.45 (2) (a) 16. of the statutes first applies to claims filed for taxable years beginning
9on January 1 of the year in which this subsection takes effect, except that if this
10subsection takes effect after July 31 this act first applies to claims filed for taxable
11years beginning on January 1 of the year following the year in which this subsection
12takes effect.
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(3) The treatment of section 11.31 (9) of the statutes first applies to adjustments
14for the biennium beginning on January 1, 2004.