76.67 (2) If any domestic insurer is licensed to transact insurance business in another state, this state may not require similar insurers domiciled in that other state to pay taxes greater in the aggregate than the aggregate amount of taxes that a domestic insurer is required to pay to that other state for the same year less the credits under ss. 76.635, 76.636, and 76.655, except that the amount imposed shall not be less than the total of the amounts due under ss. 76.65 (2) and 601.93 and, if the insurer is subject to s. 76.60, 0.375% of its gross premiums, as calculated under s. 76.62, less offsets allowed under s. 646.51 (7) or under ss. 76.635, 76.636, and 76.655 against that total, and except that the amount imposed shall not be less than the amount due under s. 601.93.
560.075 (1) In this section, "tax benefits" means the credits under ss. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (3g), and (3t), 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (3g), and (3t), and 71.47 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (3g), and (3t), and 76.636.
259,5m
Section 5m. 560.70 (6) of the statutes is amended to read:
560.70 (6) "Target population" means persons who are members of targeted groups for the purposes of the credit under ss. 71.07 (2dx), 71.28 (1dx) and, 71.47 (1dx), and 76.636.
259,6
Section
6. 560.70 (7) (a) of the statutes is amended to read:
560.70 (7) (a) Except as provided in pars. (b) and (c), "tax benefits" means the development zones credit under ss. 71.07 (2dx), 71.28 (1dx), and 71.47 (1dx), and 76.636.
259,7
Section
7. 560.70 (7) (b) of the statutes is amended to read:
560.70 (7) (b) In s. 560.795, "tax benefits" means the development zones investment credit under ss. 71.07 (2di), 71.28 (1di), and 71.47 (1di) and the development zones credit under ss. 71.07 (2dx), 71.28 (1dx), and 71.47 (1dx), and 76.636. With respect to the development opportunity zones under s. 560.795 (1) (e) and (f), "tax benefits" also means the development zones capital investment credit under ss. 71.07 (2dm), 71.28 (1dm), and 71.47 (1dm).
259,8
Section
8. 560.70 (7) (c) of the statutes is amended to read:
560.70 (7) (c) In s. 560.798, "tax benefits" means the development zones capital investment credit under ss. 71.07 (2dm), 71.28 (1dm), and 71.47 (1dm) and the development zones credits under ss. 71.07 (2dx), 71.28 (1dx), and 71.47 (1dx), and 76.636.
259,9
Section
9. 560.75 (8) of the statutes is amended to read:
560.75 (8) Annually verify information submitted to the department under s. 71.07 (2dx), 71.28 (1dx) or, 71.47 (1dx), or 76.636.
259,10
Section
10. 560.785 (1) (d) of the statutes is amended to read:
560.785 (1) (d) Except for a person claiming tax benefits only for environmental remediation under s. 71.07 (2dx) (b) 1., 71.28 (1dx) (b) 1. or, 71.47 (1dx) (b) 1., or 76.636, require at least 25% of the tax benefits claimed by a person to be based on creating or retaining full-time jobs.
259,11
Section
11. 560.785 (1) (h) of the statutes is amended to read:
560.785 (1) (h) Provide that a person's eligibility to claim tax benefits for environmental remediation under s. 71.07 (2dx) (b) 1., 71.28 (1dx) (b) 1. or, 71.47 (1dx) (b) 1., or 76.636 is not based on creating or retaining jobs.
259,12
Section
12. 560.795 (3) (d) of the statutes is amended to read:
560.795 (3) (d) The department annually shall verify information submitted to the department under s. 71.07 (2di), (2dm), or (2dx), 71.28 (1di), (1dm), or (1dx), or 71.47 (1di), (1dm), or (1dx), or 76.636.
259,12m
Section 12m. 560.795 (5) (d) of the statutes is amended to read:
560.795 (5) (d) The department annually shall verify information submitted to the department under s. 71.07 (2dm) or (2dx), 71.28 (1dm) or (1dx), or 71.47 (1dm) or (1dx), or 76.636.
259,13
Section
13. 560.797 (4) (d) of the statutes is amended to read:
560.797 (4) (d) The department shall notify the department of revenue of all persons entitled to claim tax benefits under this section, except that the department shall notify the office of the commissioner of insurance of all persons entitled to claim the credit under s. 76.636.
259,14
Section
14. 560.797 (4) (g) of the statutes is amended to read:
560.797 (4) (g) The department annually shall verify information submitted to the department under s. 71.07 (2dx), 71.28 (1dx) or, 71.47 (1dx), or 76.636.
259,15
Section
15. 560.798 (4) (b) of the statutes is amended to read:
560.798 (4) (b) The department shall annually verify information submitted to the department under s. 71.07 (2dm) or (2dx), 71.28 (1dm) or (1dx), or 71.47 (1dm) or (1dx), or 76.636.
259,16
Section
16.
Initial applicability.
(1) This act first applies to taxable years beginning on January 1 of the year in which this subsection takes effect, except that if this subsection takes effect after July 31 this act first applies to taxable years beginning on January 1 of the year following the year in which this subsection takes effect.
