AB20-ASA1,1,124
73.03
(64) Notwithstanding the provisions of any tax exemption under ch. 70
5or tax credit, deduction, or exclusion under ch. 71 for which a financial organization,
6as defined in ss. 71.04 (8) (a) and 71.25 (10) (a), would otherwise be eligible, to deny,
7for a period of 7 years beginning with the year in which a violation occurs, any tax
8exemption under ch. 70 or tax credit, deduction, or exclusion under ch. 71 to any
9financial organization, as defined in ss. 71.04 (8) (a) and 71.25 (10) (a), that violates
10s. 321.61 or 50 App. USC 501. The department of military affairs and the department
11of veterans affairs shall notify the department of revenue, in writing, of any such
12violation and the date of its occurrence.
AB20-ASA1,2,22
(1)
This act first applies to taxable years beginning on the day after publication.