(End)
LRBb0361LRBb0361/1
JK:cmh:rs
2005 - 2006 LEGISLATURE
LFB:......Reinhardt - Sales tax exemption for clay pigeons
For 2005-07 Budget -- Not Ready For Introduction
ASSEMBLY AMENDMENT ,
TO 2005 ASSEMBLY BILL 100
At the locations indicated, amend the bill as follows:
1.
Page 817, line 6: after that line insert:
"SECTION 1631m. 77.54 (47) of the statutes is renumbered 77.54 (47) (intro.) and amended to read:
77.54 (47) (intro.) The gross receipts from the sale of and the storage, use, or other consumption of live all of the following:
(a) Live game birds, and clay pigeons, that are sold to bird hunting preserves licensed under s. 169.19.
SECTION 1631p. 77.54 (47) (b) of the statutes is created to read:
77.54 (47) (b) Clay pigeons that are sold to a shooting facility, if any of the following applies:
1. The shooting facility is required to pay the tax imposed under s. 77.52 on its gross receipts from charges for shooting at the facility.
2. The shooting facility is a nonprofit organization that charges for shooting at the facility, but is not required to pay the tax imposed under s. 77.52 on its gross receipts from such charges because the charges are for occasional sales, as provided under sub. (7m).".
2.
Page 1118, line 23: after that line insert:
"(17n) GAME BIRDS AND CLAY PIGEONS. The renumbering and amendment of section 77.54 (47) of the statutes and the creation of section 77.54 (47) (b) of the statutes first apply retroactively to sales made on January 1, 2003.".
3.
Page 1130, line 18: after that line insert:
"(6n) GAME BIRDS AND CLAY PIGEONS. The renumbering and amendment of section 77.54 (47) of the statutes and the creation of section 77.54 (47) (b) of the statutes take effect retroactively to January 1, 2003.".
(End)
LRBb0362LRBb0362/P3
JK:cjs:pg
2005 - 2006 LEGISLATURE
LFB:......Reinhardt - Tax credit for health insurance risk-sharing plan assessments
For 2005-07 Budget -- Not Ready For Introduction
ASSEMBLY AMENDMENT ,
TO 2005 ASSEMBLY BILL 100
At the locations indicated, amend the bill as follows:
1.
Page 636, line 20: after that line insert:
"SECTION 1311m. 71.07 (5g) of the statutes is created to read:
71.07 (5g) HEALTH INSURANCE RISK-SHARING PLAN ASSESSMENTS CREDIT. (a) Definitions. In this subsection, "claimant" means a partner, limited liability company member, or tax-option corporation shareholder who files a claim under this subsection and who is a partner, member, or shareholder of an entity that is an insurer, as defined in s. 149.10 (5).
(b) Filing claims. Subject to the limitations provided under this subsection, for taxable years beginning after December 31, 2005, a claimant may claim as a credit against the taxes imposed under s. 71.02 an amount that is equal to a percentage of the amount of the assessment under s. 149.13 that the claimant paid in the taxable year, as determined under par. (c).
(c) Limitations. 1. The department of revenue, in consultation with the office of the commissioner of insurance, shall determine the percentage under par. (b) for each claimant for each taxable year so that the cost of the credit under this subsection and ss. 71.28 (5g), 71.47 (5g), and 76.655 is as close as practicable to $2,000,000 in the 2006-07 fiscal year and $5,000,000 in each fiscal year thereafter.
2. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts described under par. (b). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.
(d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.".
2.
Page 637, line 2: after that line insert:
"SECTION 1312m. 71.10 (4) (cp) of the statutes is created to read:
71.10 (4) (cp) Health insurance risk-sharing plan assessments credit under s. 71.07 (5g).".
3.
Page 641, line 18: after that line insert:
"SECTION 1319m. 71.21 (4) of the statutes is amended to read:
71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2ds), (2dx), (3g), (3n), (3s), (3t), and (5b), and (5g) and passed through to partners shall be added to the partnership's income.".
4.
Page 672, line 20: after that line insert:
"SECTION 1354m. 71.26 (2) (a) of the statutes is amended to read:
71.26 (2) (a) Corporations in general. The "net income" of a corporation means the gross income as computed under the Internal Revenue Code as modified under sub. (3) minus the amount of recapture under s. 71.28 (1di) plus the amount of credit computed under s. 71.28 (1), (3), (4), and (5) minus, as provided under s. 71.28 (3) (c) 7., the amount of the credit under s. 71.28 (3) that the taxpayer added to income under this paragraph at the time that the taxpayer first claimed the credit plus the amount of the credit computed under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (3g), (3n), (3t), and (5b), (5g) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, limited liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1) (g) plus the amount of losses from the sale or other disposition of assets the gain from which would be wholly exempt income, as defined in sub. (3) (L), if the assets were sold or otherwise disposed of at a gain and minus deductions, as computed under the Internal Revenue Code as modified under sub. (3), plus or minus, as appropriate, an amount equal to the difference between the federal basis and Wisconsin basis of any asset sold, exchanged, abandoned, or otherwise disposed of in a taxable transaction during the taxable year, except as provided in par. (b) and s. 71.45 (2) and (5).".
5.
Page 707, line 10: after that line insert:
"SECTION 1385h. 71.28 (5g) of the statutes is created to read:
71.28 (5g) HEALTH INSURANCE RISK-SHARING PLAN ASSESSMENTS CREDIT. (a) Definitions. In this subsection, "claimant" means an insurer, as defined in s. 149.10 (5), who files a claim under this subsection.
(b) Filing claims. Subject to the limitations provided under this subsection, for taxable years beginning after December 31, 2005, a claimant may claim as a credit against the taxes imposed under s. 71.23 an amount that is equal to a percentage of the amount of assessment under s. 149.13 that the claimant paid in the taxable year, as determined under par. (c) 1.
(c) Limitations. 1. The department of revenue, in consultation with the office of the commissioner of insurance, shall determine the percentage under par. (b) for each claimant for each taxable year so that the cost of the credit under this subsection and ss. 71.07 (5g), 71.47 (5g), and 76.655 is as close as practicable to $2,000,000 in the 2006-07 fiscal year and $5,000,000 in each fiscal year thereafter.
2. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts described under par. (b). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.
(d) Administration. Subsection (4) (e) to (h), as it applies to the credit under sub. (4), applies to the credit under this subsection.
SECTION 1385p. 71.30 (3) (dm) of the statutes is created to read:
71.30 (3) (dm) Health insurance risk-sharing plan assessments credit under s. 71.28 (5g).".
6.
Page 709, line 24: after that line insert:
"SECTION 1386m. 71.34 (1) (g) of the statutes is amended to read:
71.34 (1) (g) An addition shall be made for credits computed by a tax-option corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (3), (3g), (3n), (3t), and (5b), and (5g) and passed through to shareholders.".
7.
Page 735, line 8: after that line insert:
"SECTION 1406m. 71.45 (2) (a) 10. of the statutes is amended to read:
71.45 (2) (a) 10. By adding to federal taxable income the amount of credit computed under s. 71.47 (1dd) to (1dx), (3n), and (5b), and (5g) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, limited liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1) (g) and the amount of credit computed under s. 71.47 (1), (3), (3t), (4), and (5).".
8.
Page 741, line 7: after that line insert:
"SECTION 1428k. 71.47 (5g) of the statutes is created to read:
71.47 (5g) HEALTH INSURANCE RISK-SHARING PLAN ASSESSMENTS CREDIT. (a) Definitions. In this subsection, "claimant" means an insurer, as defined in s. 149.10 (5), who files a claim under this subsection.
(b) Filing claims. Subject to the limitations provided under this subsection, for taxable years beginning after December 31, 2005, a claimant may claim as a credit against the taxes imposed under s. 71.43 an amount that is equal to a percentage of the amount of assessment under s. 149.13 that the claimant paid in the taxable year, as determined under par. (c) 1.
(c) Limitations. 1. The department of revenue, in consultation with the office of the commissioner of insurance, shall determine the percentage under par. (b) for each claimant for each taxable year so that the cost of the credit under this subsection and ss. 71.07 (5g), 71.28 (5g), and 76.655 is as close as practicable to $2,000,000 in the 2006-07 fiscal year and $5,000,000 in each fiscal year thereafter.
2. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts described under par. (b). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.
(d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.
SECTION 1428p. 71.49 (1) (dm) of the statutes is created to read:
71.49 (1) (dm) Health insurance risk-sharing plan assessments credit under s. 71.47 (5g).".
9.
Page 760, line 22: after that line insert:
"SECTION 1474m. 76.655 of the statutes is created to read:
76.655 Health insurance risk-sharing plan assessments credit. (1) DEFINITIONS. In this section, "claimant" means an insurer, as defined in s. 149.10 (5), who files a claim under this section.
(2) FILING CLAIMS. Subject to the limitations provided under this section, for taxable years beginning after December 31, 2005, a claimant may claim as a credit against the fees imposed under ss. 76.60, 76.63, 76.65, 76.66 or 76.67 an amount that is equal to a percentage of the amount of assessment under s. 149.13 that the claimant paid in the taxable year, as determined under sub. (3).
(3) LIMITATIONS. The department of revenue, in consultation with the office of the commissioner of insurance, shall determine the percentage under sub. (2) for each claimant for each taxable year so that the cost of the credit under this section and ss. 71.07 (5g), 71.28 (5g), and 71.47 (5g) is as close as practicable to $2,000,000 in the 2006-07 fiscal year and $5,000,000 in each fiscal year thereafter.
(4) CARRY-FORWARD. If the credit under sub. (2) is not entirely offset against the fees imposed under ss. 76.60, 76.63, 76.65, 76.66, or 76.67 that are otherwise due, the unused balance may be carried forward and credited against those fees in the following 15 years to the extent that it is not offset by those fees otherwise due in all the years between the year in which the assessment was paid and the year in which the carry-forward credit is claimed.
SECTION 1474p. 76.67 (2) of the statutes is amended to read:
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 credit credits under s. ss. 76.635 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 s. ss. 76.635 and 76.655 against that total, and except that the amount imposed shall not be less than the amount due under s. 601.93.".
10.
Page 840, line 16: after that line insert:
"SECTION 1686m. 77.92 (4) of the statutes is amended to read:
77.92 (4) "Net business income," with respect to a partnership, means taxable income as calculated under section 703 of the Internal Revenue Code; plus the items of income and gain under section 702 of the Internal Revenue Code, including taxable state and municipal bond interest and excluding nontaxable interest income or dividend income from federal government obligations; minus the items of loss and deduction under section 702 of the Internal Revenue Code, except items that are not deductible under s. 71.21; plus guaranteed payments to partners under section 707 (c) of the Internal Revenue Code; plus the credits claimed under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (3g), (3s), (3n), (3t), and (5b), and (5g); and plus or minus, as appropriate, transitional adjustments, depreciation differences, and basis differences under s. 71.05 (13), (15), (16), (17), and (19); but excluding income, gain, loss, and deductions from farming. "Net business income," with respect to a natural person, estate, or trust, means profit from a trade or business for federal income tax purposes and includes net income derived as an employee as defined in section 3121 (d) (3) of the Internal Revenue Code.".
(End)
LRBb0363LRBb0363/1
PJH:cjs:pg
2005 - 2006 LEGISLATURE
LFB:......Jon Dyck - Vehicle registration fees
For 2005-07 Budget -- Not Ready For Introduction
ASSEMBLY AMENDMENT ,
TO 2005 ASSEMBLY BILL 100
At the locations indicated, amend the bill as follows:
1.
Page 1011, line 16: delete lines 16 to 25.
2.
Page 1131, line 11: delete lines 11 and 12.
(End)
LRBb0364LRBb0364/1
PJH:cjs:jf
2005 - 2006 LEGISLATURE
LFB:......Jon Dyck - Vehicle title fees
For 2005-07 Budget -- Not Ready For Introduction
ASSEMBLY AMENDMENT ,
TO 2005 ASSEMBLY BILL 100
At the locations indicated, amend the bill as follows:
1.
Page 1131, line 14: delete "the first day of the 4th month beginning after publication" and substitute "October 1, 2005".
(End)
LRBb0365LRBb0365/1
PJH:cjs:rs
2005 - 2006 LEGISLATURE
LFB:......Jon Dyck - Freight rail preservation program
For 2005-07 Budget -- Not Ready For Introduction
ASSEMBLY AMENDMENT ,
TO 2005 ASSEMBLY BILL 100
At the locations indicated, amend the bill as follows:
1.
Page 376, line 7: delete "$39,000,000" and substitute "$44,500,000".
2.
Page 1091, line 10: after that line insert:
"(2q) FREIGHT RAIL PRESERVATION PROGRAM. In the 2005-07 fiscal biennium, from the public debt contracted under section 20.866 (2) (uw) of the statutes, the department of transportation shall allocate $5,000,000 annually for rail rehabilitation projects and $1,000,000 annually for rail bridge projects.".
