AB794: Bill Text

AB794,4,19 3. "Fuel" means fuel that is made from biomass and is used to power a thermal biomass heating system.

AB794,4,20 4. "Thermal biomass heating system" has the meaning given in sub. (6f) (a) 4.

AB794,5,2 (b) Filing claims. Subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.02, up to the amount of those taxes, 100 percent of the amount that the claimant paid in the taxable year for fuel used in a thermal biomass heating system that is installed in the claimant's primary residence in this state or in the claimant's place of business in this state.

AB794,5,5 (c) Limitations. 1. No credit may be claimed under this subsection by a part-year resident or a nonresident of this state for amounts paid for fuel used in a thermal biomass heating system in the claimant's primary residence in this state.

AB794,5,13 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 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.

AB794,5,15 (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.

AB794, s. 5 Section 5. 71.10 (4) (cf) of the statutes is created to read:

AB794,5,17 71.10 (4) (cf) The thermal biomass heating systems credit under s. 71.07 (6f).

AB794, s. 6 Section 6. 71.10 (4) (cg) of the statutes is created to read:

AB794,5,19 71.10 (4) (cg) The thermal biomass fuel credit under s. 71.07 (6g).

AB794, s. 7 Section 7. 71.21 (4) of the statutes, as affected by 2009 Wisconsin Acts 2 and 28, is amended to read:

AB794,5,25 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3s), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (6f), (6g), and (8r) and passed through to partners shall be added to the partnership's income.

AB794, s. 8 Section 8. 71.26 (2) (a) 4. of the statutes, as affected by 2009 Wisconsin Acts 2 and 28, is amended to read:

AB794,6,8 71.26 (2) (a) 4. Plus the amount of the credit computed under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (6f), (6g), and (8r) 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 (1k) (g).

AB794, s. 9 Section 9. 71.28 (6f) of the statutes is created to read:

AB794,6,11 71.28 (6f) Thermal biomass heating systems credit. (a) Definitions. In this subsection:

AB794,6,13 1. "Air quality standards" means all requirements under ch. 285 and 42 USC 7401 to 7671q.

AB794,6,14 2. "Biomass" has the meaning given in s. 196.378 (1) (ar).

AB794,6,15 3. "Claimant" means a person who files a claim under this subsection.

AB794,6,19 4. "Thermal biomass heating system" means a stove, furnace, or boiler that generates heat from biomass by providing an energy efficiency conversion of at least 75 percent and meets any air quality standards that apply to the system on the day on which it is purchased.

AB794,6,24 (b) Filing claims. Subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.23, up to the amount of those taxes, 100 percent of the installed cost of a thermal biomass heating system that the claimant paid in the taxable year for a system that is installed in the claimant's place of business in this state.

AB794,7,8 (c) Limitations. 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 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.

AB794,7,10 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under sub. (4), applies to the credit under this subsection.

AB794, s. 10 Section 10. 71.28 (6g) of the statutes is created to read:

AB794,7,12 71.28 (6g) Thermal biomass fuel credit. (a) Definitions. In this subsection:

AB794,7,13 1. "Biomass" has the meaning given in s. 196.378 (1) (ar).

AB794,7,14 2. "Claimant" means a person who files a claims under this subsection.

AB794,7,16 3. "Fuel" means fuel that is made from biomass and is used to power a thermal biomass heating system.

AB794,7,17 4. "Thermal biomass heating system" has the meaning given in sub. (6f) (a) 4.

AB794,7,23 (b) Filing claims. Subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.23, up to the amount of those taxes, 100 percent of the amount that the claimant paid in the taxable year for fuel used in a thermal biomass heating system that is installed in the claimant's primary residence in this state or in the claimant's place of business in this state.

AB794,8,6 (c) Limitations. 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 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.

AB794,8,8 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under sub. (4), applies to the credit under this subsection.

AB794, s. 11 Section 11. 71.30 (3) (af) of the statutes is created to read:

AB794,8,10 71.30 (3) (af) The thermal biomass heating systems credit under s. 71.28 (6f).

AB794, s. 12 Section 12. 71.30 (3) (ag) of the statutes is created to read:

AB794,8,12 71.30 (3) (ag) The thermal biomass fuel credit under s. 71.28 (6g).

AB794, s. 13 Section 13. 71.34 (1k) (g) of the statutes, as affected by 2009 Wisconsin Acts 2 and 28, is amended to read:

AB794,8,18 71.34 (1k) (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), (1dy), (3), (3g), (3h), (3n), (3p), (3q), (3r), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (6f), (6g), and (8r) and passed through to shareholders.

AB794, s. 14 Section 14. 71.45 (2) (a) 10. of the statutes, as affected by 2009 Wisconsin Acts 2 and 28, is amended to read:

AB794,9,2 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit computed under s. 71.47 (1dd) to (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (6f), (6g), and (8r) 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 (1k) (g) and the amount of credit computed under s. 71.47 (1), (3), (3t), (4), (4m), and (5).

AB794, s. 15 Section 15. 71.47 (6f) of the statutes is created to read:

AB794,9,5 71.47 (6f) Thermal biomass heating systems credit. (a) Definitions. In this subsection:

AB794,9,7 1. "Air quality standards" means all requirements under ch. 285 and 42 USC 7401 to 7671q.

AB794,9,8 2. "Biomass" has the meaning given in s. 196.378 (1) (ar).

AB794,9,9 3. "Claimant" means a person who files a claim under this subsection.

AB794,9,13 4. "Thermal biomass heating system" means a stove, furnace, or boiler that generates heat from biomass by providing an energy efficiency conversion of at least 75 percent and meets any air quality standards that apply to the system on the day on which it is purchased.

AB794,9,18 (b) Filing claims. Subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.43, up to the amount of those taxes, 100 percent of the installed cost of a thermal biomass heating system that the claimant paid in the taxable year for a system that is installed in the claimant's place of business in this state.

AB794,9,24 (c) Limitations. 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 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.

AB794,10,4 (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.

AB794, s. 16 Section 16. 71.47 (6g) of the statutes is created to read:

AB794,10,6 71.47 (6g) Thermal biomass fuel credit. (a) Definitions. In this subsection:

AB794,10,7 1. "Biomass" has the meaning given in s. 196.378 (1) (ar).

AB794,10,8 2. "Claimant" means a person who files a claims under this subsection.

AB794,10,10 3. "Fuel" means fuel that is made from biomass and is used to power a thermal biomass heating system.

AB794,10,11 4. "Thermal biomass heating system" has the meaning given in sub. (6f) (a) 4.

AB794,10,17 (b) Filing claims. Subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.43, up to the amount of those taxes, 100 percent of the amount that the claimant paid in the taxable year for fuel used in a thermal biomass heating system that is installed in the claimant's primary residence in this state or in the claimant's place of business in this state.

AB794,10,25 (c) Limitations. 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 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.

AB794,11,2 (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.

AB794, s. 17 Section 17. 71.49 (1) (af) of the statutes is created to read:

AB794,11,4 71.49 (1) (af) The thermal biomass heating systems credit under s. 71.47 (6f).

AB794, s. 18 Section 18. 71.49 (1) (ag) of the statutes is created to read:

AB794,11,6 71.49 (1) (ag) The thermal biomass fuel credit under s. 71.47 (6g).

AB794, s. 19 Section 19. 77.54 (58) of the statutes is created to read:

AB794,11,11 77.54 (58) The sales price from the sale of and the storage, use, or other consumption of a thermal biomass heating system, as defined in s. 71.07 (6f) (a) 4., including accessories, attachments, and repair parts, but not including equipment or components that would be present as part of a conventional energy system.

AB794, s. 20 Section 20. 77.92 (4) of the statutes, as affected by 2009 Wisconsin Acts 2 and 28, is amended to read:

AB794,12,4 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), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3s), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (6f), (6g), and (8r); 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.

AB794, s. 21 Section 21. Initial applicability.

AB794,12,7 (1) The treatment of section 70.11 (45) of the statutes first applies to the property tax assessments as January 1, 2010.

AB794,12,17 (2) The treatment of sections 71.05 (6) (a) 15., 71.07 (6f) and (6g), 71.10 (4) (cf) and (cg), 71.21 (4), 71.26 (2) (a) 4., 71.47 (6f) and (6g), 71.30 (3) (af) and (ag), 71.34 (1k) (g), 71.45 (2) (a) 10., 71.47 (6f) and (6g), and 77.92 (4) of the statutes 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 the treatment of sections 71.05 (6) (a) 15., 71.07 (6f) and (6g), 71.10 (4) (cf) and (cg), 71.21 (4), 71.26 (2) (a) 4., 71.28 (6f) and (6g), 71.30 (3) (af) and (ag), 71.34 (1k) (g), 71.45 (2) (a) 10., 71.47 (6f) and (6g), and 77.92 (4) of the statutes first applies to taxable years beginning on January 1 of the year following the year in which this subsection takes effect.

AB794, s. 22 Section 22. Effective dates. This act takes effect on the day after publication, except as follows:

AB794,12,21 (1) The treatment of section 77.54 (58) of the statutes takes effect on the first day of the 3rd month beginning after publication.

AB794,12,22 (End)