LRBa2444/1
CTS:cjs:rs
2009 - 2010 LEGISLATURE
SENATE AMENDMENT 2,
TO SENATE SUBSTITUTE AMENDMENT 1,
TO 2009 SENATE BILL 651
April 20, 2010 - Offered by Senators Leibham and Schultz.
SB651-SSA1-SA2,1,3
21. Page 1, line 6: after "programs;" insert "income and franchise tax credits for
3insulating concrete forms used to construct a building;".
SB651-SSA1-SA2,1,127
71.05
(6) (a) 15. The amount of the credits computed under s. 71.07 (2dd), (2de),
8(2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3s),
9(3t), (3w),
(3x), (5e), (5f), (5h), (5i), (5j), (5k), and (8r) and not passed through by a
10partnership, limited liability company, or tax-option corporation that has added that
11amount to the partnership's, company's, or tax-option corporation's income under s.
1271.21 (4) or 71.34 (1k) (g).
SB651-SSA1-SA2,2,32
71.07
(3x) Insulating concrete forms credit. (a)
Definitions. In this
3subsection:
SB651-SSA1-SA2,2,44
1. "Claimant" means a person who files a claim under this subsection.
SB651-SSA1-SA2,2,75
2. "Insulating concrete form" means a hollow expandable polystyrene form
6system that is filled with concrete, but does not include the concrete used to fill the
7form.
SB651-SSA1-SA2,2,128
(b)
Filing claims. Subject to the limitations provided in this subsection, a
9claimant may claim as a credit against the taxes imposed under s. 71.02, up to the
10amount of the taxes, an amount equal to 10 percent of the amount that the claimant
11paid in the taxable year to purchase for use in this state insulating concrete forms
12used to construct the insulated exterior and interior walls of any building.
SB651-SSA1-SA2,2,2013
(c)
Limitations. Partnerships, limited liability companies, and tax-option
14corporations may not claim the credit under this subsection, but the eligibility for,
15and the amount of, the credit are based on their payment of the amounts described
16under par. (b). A partnership, limited liability company, or tax-option corporation
17shall compute the amount of credit that each of its partners, members, or
18shareholders may claim and shall provide that information to each of them.
19Partners, members of limited liability companies, and shareholders of tax-option
20corporations may claim the credit in proportion to their ownership interests.
SB651-SSA1-SA2,2,2221
(d)
Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
22s. 71.28 (4), applies to the credit under this subsection.
SB651-SSA1-SA2,2,2424
71.10
(4) (cr) Insulating concrete forms credit under s. 71.07 (3x).
SB651-SSA1-SA2,3,63
71.21
(4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di),
4(2dj), (2dL), (2dm), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3s), (3t), (3w),
5(3x), (5e), (5f), (5g), (5h), (5i), (5j), (5k), and (8r) and passed through to partners shall
6be added to the partnership's income.
SB651-SSA1-SA2,3,149
71.26
(2) (a) 4. Plus the amount of the credit computed under s. 71.28 (1dd),
10(1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3t),
11(3w),
(3x), (5e), (5f), (5g), (5h), (5i), (5j), (5k), and (8r) and not passed through by a
12partnership, limited liability company, or tax-option corporation that has added that
13amount to the partnership's, limited liability company's, or tax-option corporation's
14income under s. 71.21 (4) or 71.34 (1k) (g).
SB651-SSA1-SA2,3,1716
71.28
(3x) Insulating concrete forms credit. (a)
Definitions. In this
17subsection:
SB651-SSA1-SA2,3,1818
1. "Claimant" means a person who files a claim under this subsection.
SB651-SSA1-SA2,3,2119
2. "Insulating concrete form" means a hollow expandable polystyrene form
20system that is filled with concrete, but does not include the concrete used to fill the
21form.
SB651-SSA1-SA2,4,222
(b)
Filing claims. Subject to the limitations provided in this subsection, a
23claimant may claim as a credit against the taxes imposed under s. 71.23, up to the
24amount of the taxes, an amount equal to 10 percent of the amount that the claimant
1paid in the taxable year to purchase for use in this state insulating concrete forms
2used to construct the insulated exterior and interior walls of any building.
SB651-SSA1-SA2,4,103
(c)
Limitations. Partnerships, limited liability companies, and tax-option
4corporations may not claim the credit under this subsection, but the eligibility for,
5and the amount of, the credit are based on their payment of the amounts described
6under par. (b). A partnership, limited liability company, or tax-option corporation
7shall compute the amount of credit that each of its partners, members, or
8shareholders may claim and shall provide that information to each of them.
9Partners, members of limited liability companies, and shareholders of tax-option
10corporations may claim the credit in proportion to their ownership interests.
SB651-SSA1-SA2,4,1211
(d)
Administration. Subsection (4) (e) to (h), as it applies to the credit under
12sub. (4), applies to the credit under this subsection.
SB651-SSA1-SA2,4,1414
71.30
(3) (dn) Insulating concrete forms credit under s. 71.28 (3x).
SB651-SSA1-SA2,4,2017
71.34
(1k) (g) An addition shall be made for credits computed by a tax-option
18corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy),
19(3), (3g), (3h), (3n), (3p), (3q), (3r), (3t), (3w),
(3x), (5e), (5f), (5g), (5h), (5i), (5j), (5k),
20and (8r) and passed through to shareholders.
SB651-SSA1-SA2,5,423
71.45
(2) (a) 10. By adding to federal taxable income the amount of credit
24computed under s. 71.47 (1dd) to (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3w),
(3x), (5e),
25(5f), (5g), (5h), (5i), (5j), (5k), and (8r) and not passed through by a partnership,
1limited liability company, or tax-option corporation that has added that amount to
2the partnership's, limited liability company's, or tax-option corporation's income
3under s. 71.21 (4) or 71.34 (1k) (g) and the amount of credit computed under s. 71.47
4(1), (3), (3t), (4), (4m), and (5).
SB651-SSA1-SA2,5,76
71.47
(3x) Insulating concrete forms credit. (a)
Definitions. In this
7subsection:
SB651-SSA1-SA2,5,88
1. "Claimant" means a person who files a claim under this subsection.
SB651-SSA1-SA2,5,119
2. "Insulating concrete form" means a hollow expandable polystyrene form
10system that is filled with concrete, but does not include the concrete used to fill the
11form.
SB651-SSA1-SA2,5,1612
(b)
Filing claims. Subject to the limitations provided in this subsection, a
13claimant may claim as a credit against the taxes imposed under s. 71.43, up to the
14amount of the taxes, an amount equal to 10 percent of the amount that the claimant
15paid in the taxable year to purchase for use in this state insulating concrete forms
16used to construct the insulated exterior and interior walls of any building.
SB651-SSA1-SA2,5,2417
(c)
Limitations. Partnerships, limited liability companies, and tax-option
18corporations may not claim the credit under this subsection, but the eligibility for,
19and the amount of, the credit are based on their payment of the amounts described
20under par. (b). A partnership, limited liability company, or tax-option corporation
21shall compute the amount of credit that each of its partners, members, or
22shareholders may claim and shall provide that information to each of them.
23Partners, members of limited liability companies, and shareholders of tax-option
24corporations may claim the credit in proportion to their ownership interests.
SB651-SSA1-SA2,6,2
1(d)
Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
2s. 71.28 (4), applies to the credit under this subsection.
SB651-SSA1-SA2,6,44
71.49
(1) (dn) Insulating concrete forms credit under s. 71.47 (3x).
SB651-SSA1-SA2,6,227
77.92
(4) "Net business income," with respect to a partnership, means taxable
8income as calculated under section
703 of the Internal Revenue Code; plus the items
9of income and gain under section
702 of the Internal Revenue Code, including taxable
10state and municipal bond interest and excluding nontaxable interest income or
11dividend income from federal government obligations; minus the items of loss and
12deduction under section
702 of the Internal Revenue Code, except items that are not
13deductible under s. 71.21; plus guaranteed payments to partners under section
707 14(c) of the Internal Revenue Code; plus the credits claimed under s. 71.07 (2dd), (2de),
15(2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3s),
16(3t), (3w),
(3x), (5e), (5f), (5g), (5h), (5i), (5j), (5k), and (8r); and plus or minus, as
17appropriate, transitional adjustments, depreciation differences, and basis
18differences under s. 71.05 (13), (15), (16), (17), and (19); but excluding income, gain,
19loss, and deductions from farming. "Net business income," with respect to a natural
20person, estate, or trust, means profit from a trade or business for federal income tax
21purposes and includes net income derived as an employee as defined in section
3121 22(d) (3) of the Internal Revenue Code.".
SB651-SSA1-SA2,7,4
1(1) The treatment of sections 71.05 (6) (a) 15., 71.07 (3x), 71.10 (4) (cr), 71.21
2(4), 71.26 (2) (a) 4., 71.28 (3x), 71.30 (3) (dn), 71.34 (1k) (g), 71.45 (2) (a) 10., 71.47 (3x),
371.49 (1) (dn), and 77.92 (4) of the statutes first applies to taxable years beginning
4on January 1, 2010.".
