The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 71.01 (13) of the statutes is amended to read:
71.01 (13) "Wisconsin adjusted gross income" means federal adjusted gross income, with the modifications prescribed in s. 71.05 (6) to (12), (19) and, (20), and (24).
SECTION 2. 71.05 (24) of the statutes is created to read:
71.05 (24) INCOME TAX DEFERRAL; LONG-TERM CAPITAL ASSETS. (a) In this subsection:
1. "Claimant" means an individual; an individual partner or member of a partnership, limited liability company, or limited liability partnership; or an individual shareholder of a tax-option corporation.
2. "Financial institution" has the meaning given in s. 69.30 (1) (b).
3. "Long-term capital gain" means the gain realized from the sale of any capital asset held more than one year that is treated as a long-term gain under the Internal Revenue Code.
4. "Qualified new business venture" means a business certified by the department of commerce under s. 560.208.
(b) For taxable years beginning after December 31, 2010, a claimant may subtract from federal adjusted gross income any amount, up to $10,000,000, of a long-term capital gain if the claimant does all of the following:
1. Deposits the gain into a segregated account in a financial institution.
2. Within 180 days after the sale of the asset that generated the gain, invests all of the proceeds in the account described under subd. 1. in a qualified new business venture.
3. After making the investment as described under subd. 2., notifies the department, on a form prepared by the department, that the claimant will not declare on the claimant's income tax return the gain described under subd. 1. because the claimant has reinvested the capital gain as described under subd. 2. The form shall be sent to the department along with the claimant's income tax return for the year to which the claim relates.
(c) The basis of the investment described in par. (b) 2. shall be calculated by subtracting the gain described in par. (b) 1. from the amount of the investment described in par. (b) 2.
(d) If a claimant defers the payment of income taxes on a capital gain under this subsection, the claimant may not use the gain described under par. (b) 1. to net capital gains and losses, as described under sub. (10) (c).
SECTION 3. 560.208 of the statutes is created to read:
560.208 Qualified new business ventures. (1) The department shall implement a program to certify qualified new business ventures for purposes of s. 71.05 (24). A business desiring certification shall submit an application to the department in each taxable year for which the business desires certification. Subject to sub. (2), a business may be certified under this subsection, and may maintain such certification, only if the business is engaged in one of the following:
(a) Developing a new product or business process.
(b) Manufacturing, agriculture, or processing or assembling products and conducting research and development.
(2) The department may not certify a business under sub. (1) if the business is engaged in real estate development, insurance, banking, lending, lobbying, political consultation, professional services provided by attorneys, accountants, business consultants, physicians, or health care consultants, wholesale or retail sales, leisure, hospitality, transportation, or construction.
(3) (a) The department shall maintain a list of businesses certified under sub. (1) and shall permit public access to the lists through the department's Internet Web site.
(b) The department of commerce shall notify the department of revenue of every certification issued under sub. (1) and the date on which a certification under sub. (1) is revoked or expires.
(End)
LRB-1320LRB-1320/1
PG:kjf:ph
2009 - 2010 LEGISLATURE
DOA:......Skwarczek, BB0338 - High school graduation requirements
For 2009-11 Budget -- Not Ready For Introduction
2009 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
education
Primary and secondary education
Under current law, a school board may not grant a high school diploma to any pupil unless the pupil has earned, in grades 9 to 12, at least 4 credits of English, 3 credits of social studies, 2 credits of mathematics, 2 credits of science, and 1.5 credits of physical education.
Beginning with pupils graduating in 2013, this bill requires an additional credit of mathematics and of science.
For further information see the state and local fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 118.33 (1) (a) 1. of the statutes is amended to read:
118.33 (1) (a) 1. In the high school grades, at least 4 credits of English including writing composition, 3 credits of social studies including state and local government, 2 3 credits of mathematics, 2 3 credits of science and 1.5 credits of physical education.
SECTION 9339. Initial applicability; Public Instruction.
(1) HIGH SCHOOL GRADUATION REQUIREMENTS. The treatment of section 118.33 (1) (a) 1. of the statutes first applies to pupils graduating from high school in 2013.
(End)
LRB-1324LRB-1324/2
RCT:kjf:rs
2009 - 2010 LEGISLATURE
DOA:......Miner, BB0339 - Fee on animal slaughter for meat safety inspections and animal health
For 2009-11 Budget -- Not Ready For Introduction
2009 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
Agriculture
This bill establishes an assessment to be paid to DATCP by persons who operate commercial establishments at which certain kinds of animals are slaughtered. The assessment per animal slaughtered is one cent for poultry, ten cents for calves, and 14 cents for older cattle and for swine. The assessment must be paid quarterly. The revenue from the assessment is appropriated for meat safety inspections and animal health programs.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 20.115 (1) (gg) of the statutes is created to read:
20.115 (1) (gg) Meat and poultry inspection. From the moneys received under s. 95.85 (3), the amounts in the schedule to be used for meat and poultry inspection under s. 97.42.
****NOTE: This SECTION involves a change in an appropriation that must be reflected in the revised schedule in s. 20.005, stats.
SECTION 2. 20.115 (2) (ha) of the statutes is amended to read:
20.115 (2) (ha) Inspection, testing and enforcement. All moneys received under ss. 93.06 (1f) and (1g), 95.55, 95.57, 95.60 (5), 95.68, 95.69, 95.71 and 95.715 and all moneys received under s. 95.85 (3) that are not appropriated under sub (1) (gg), to be used for animal health inspection and testing and for enforcement of animal health laws.
SECTION 3. 95.85 of the statutes is created to read:
95.85 Animal slaughter assessment. (1) DEFINITIONS. In this section:
(a) "Calves" means bovine animals that are not more than 6 months of age.
(b) "Cattle" means bovine animals that are more than 6 months of age.
(c) "Establishment" means a plant where cattle, calves, swine, or poultry are slaughtered for commercial sale for human consumption.
(2) ASSESSMENT. For each animal of a kind specified in this subsection that is slaughtered in an establishment, the person operating the establishment shall pay to the department an assessment equal to the following, except as provided under sub. (6):
(a) Fourteen cents for swine.
(b) Fourteen cents for cattle.
(c) Ten cents for calves.
(d) One cent for poultry.
(3) REPORTING AND PAYMENT. (a) A person operating an establishment shall submit to the department the quarterly report described in par. (b) and quarterly payment of the assessment under sub. (2) according to the following schedule, except as provided under sub. (6):
1. For January to March, by April 30.
2. For April to June, by July 31.
3. For July to September, by October 31.
4. For October to December, by January 31.
(b) A person operating an establishment shall submit a quarterly report that identifies the number of each type of animal described in sub. (2) slaughtered in the establishment in the previous quarter. The department may require additional information relevant to the assessment. The department shall keep confidential the information submitted under this subsection.
(c) A person who submits a quarterly report and payment of the assessment after the due date shall pay the department, in addition to the assessment, a surcharge equal to 1 percent of the assessment due for each month or fraction of a month that the payment is late. A person who submits a quarterly report that understates the number of animals slaughtered in an establishment and submits payment based on the inaccurate report shall pay the department a surcharge equal to 1 percent of the amount of the underpayment for each month or fraction of a month that the payment is late.
(4) LICENSE CONTINGENT ON PAYMENT OF ASSESSMENT. The department may not issue or renew a license related to the slaughter of animals for any establishment until the operator of the establishment pays any assessments and surcharges that are due under this section. The department shall refund an assessment or surcharge paid under protest if the department determines that the assessment or surcharge was not due as a condition of licensing under this subsection. If an assessment or surcharge is paid by check, a license issued in reliance upon that check is void if the check is not honored.
(5) INSPECTION OF RECORDS. The department may inspect, during regular business hours, any records that relate to this section. The department shall keep confidential any information obtained under this subsection concerning the number of animals slaughtered in an establishment.
(6) RULES. The department may promulgate rules for the administration of this section, including rules that modify the amount of the assessment under sub. (2) and rules that modify the schedule for reporting and payment under sub. (3) (a).
(7) PENALTY. A person who submits a report under sub. (3) that understates the number of animals slaughtered in an establishment may be required to forfeit not less than $500 nor more than $1,000 for each inaccurate report.
(End)
LRB-1326LRB-1326/6
EVM:bjk&cjs:md
2009 - 2010 LEGISLATURE
DOA:......Wavrunek, BB0325 - Allow second endangered resources license plate.
For 2009-11 Budget -- Not Ready For Introduction
2009 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
transportation
Drivers and motor vehicles
Under current law, any group or organization may apply to DOT for designation as an authorized special group. If the application is approved, members of the authorized special group may obtain special distinguishing license plates for certain vehicles, including automobiles and motor homes, that are owned or leased by special group members. A fee, in addition to the regular registration fee for the particular kind of vehicle, is charged for the issuance or reissuance of most special plates.
Before October 2, 1998, authorized special groups whose members may obtain special plates were specifically enumerated in state law. Current law provides that specific enumeration in state law of authorized groups is limited to those special groups enumerated before October 2, 1998.
Under current law, an authorized special group is specifically enumerated for persons interested in obtaining special plates expressing their support for endangered resources. In addition to the regular vehicle registration fee, special group members are required to pay a $25 fee for the issuance or renewal of the special plates and a $25 annual fee that is deposited in the conservation fund to be used by DNR for the purposes of the endangered resources program. The design of these plates is determined by DOT in consultation with DNR, but such plates must be as similar as possible in color and design to regular license plates.
This bill establishes a second authorized special group specifically enumerated in state law for persons interested in obtaining special plates expressing their support for endangered resources. The fees charged to special group members and design consultation requirements are the same as for the existing endangered resources special group plates. The words or symbols used on the second plate must be different from the existing one and the new design must cover the entire plate. In addition, the second endangered resources plate may only be issued if DOT purchases the plates from the state of Minnesota.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
