AB40-ASA1,700,220 71.07 (2di) (f) If a person who is entitled under s. 560.795 (3), 2009 stats., to
21claim tax benefits becomes ineligible for such tax benefits, that person may claim no
22credits under this subsection for the taxable year that includes the day on which the
23person becomes ineligible for tax benefits or succeeding taxable years and that
24person may carry over no unused credits from previous years to offset tax under this

1chapter for the taxable year that includes the day on which the person becomes
2ineligible for tax benefits or succeeding taxable years.
AB40-ASA1, s. 1774 3Section 1774. 71.07 (2di) (g) of the statutes is amended to read:
AB40-ASA1,700,84 71.07 (2di) (g) If a person who is entitled under s. 560.795 (3), 2009 stats., to
5claim tax benefits ceases business operations in the development zone during any of
6the taxable years that that zone exists, that person may not carry over to any taxable
7year following the year during which operations cease any unused credits from the
8taxable year during which operations cease or from previous taxable years.
AB40-ASA1, s. 1775 9Section 1775. 71.07 (2dj) (am) (intro.) of the statutes is amended to read:
AB40-ASA1,700,1310 71.07 (2dj) (am) (intro.) Except as provided under par. (f) or s. 73.03 (35), for
11any taxable year for which the person is certified under s. 560.765 (3), 2009 stats.,
12for tax benefits, any person may claim as a credit against taxes otherwise due under
13this chapter an amount calculated as follows:
AB40-ASA1, s. 1776 14Section 1776. 71.07 (2dj) (am) 4. a. of the statutes is amended to read:
AB40-ASA1,700,2115 71.07 (2dj) (am) 4. a. If certified under s. 560.765 (3), 2009 stats., for tax
16benefits before January 1, 1992, modify "qualified wages" as defined in section 51 (b)
17of the internal revenue code to exclude wages paid before the claimant is certified for
18tax benefits and to exclude wages that are paid to employees for work at any location
19that is not in a development zone under subch. VI of ch. 560, 2009 stats. For purposes
20of this subd. 4. a., mobile employees work at their base of operations and leased or
21rented employees work at the location where they perform services.
AB40-ASA1, s. 1777 22Section 1777. 71.07 (2dj) (am) 4. b. of the statutes is amended to read:
AB40-ASA1,701,423 71.07 (2dj) (am) 4. b. If certified under s. 560.765 (3), 2009 stats., for tax
24benefits after December 31, 1991, modify "qualified wages" as defined in section 51
25(b) of the internal revenue code to exclude wages paid before the claimant is certified

1for tax benefits and to exclude wages that are paid to employees for work at any
2location that is not in a development zone under subch. VI of ch. 560, 2009 stats. For
3purposes of this subd. 4. b., mobile employees and leased or rented employees work
4at their base of operations.
AB40-ASA1, s. 1778 5Section 1778. 71.07 (2dj) (am) 4c. of the statutes is amended to read:
AB40-ASA1,701,106 71.07 (2dj) (am) 4c. Modify the rule for ineligible individuals under section 51
7(i) (1) of the internal revenue code to allow credit for the wages of related individuals
8paid by an Indian business, as defined in s. 560.86 (4), 2009 stats., or a tribal
9enterprise, as defined in sub. (2di) (b) 2., if the Indian business or tribal enterprise
10is located in a development zone designated under s. 560.71 (3) (c) 2., 2009 stats.
AB40-ASA1, s. 1779 11Section 1779. 71.07 (2dj) (am) 4t. of the statutes is amended to read:
AB40-ASA1,701,1812 71.07 (2dj) (am) 4t. If certified under s. 560.765 (3), 2009 stats., for tax benefits
13before January 1, 1992, modify section 51 (i) (3) of the internal revenue code so that
14for leased or rented employees, except employees of a leasing agency certified for tax
15benefits who perform services directly for the agency in a development zone, the
16minimum employment periods apply to the time that they perform services in a
17development zone for a single lessee or renter, not to their employment by the leasing
18agency.
AB40-ASA1, s. 1780 19Section 1780. 71.07 (2dj) (e) 1. of the statutes is amended to read:
AB40-ASA1,701,2120 71.07 (2dj) (e) 1. A copy of the claimant's certification for tax benefits under s.
21560.765 (3), 2009 stats.
AB40-ASA1, s. 1781 22Section 1781. 71.07 (2dj) (e) 3. a. of the statutes is amended to read:
AB40-ASA1,702,223 71.07 (2dj) (e) 3. a. If certified under s. 560.765 (3), 2009 stats., for tax benefits
24before January 1, 1992, a statement from the department of commerce verifying the
25amount of qualifying wages and verifying that the employees were hired for work

1only in a development zone or are mobile employees whose base of operations is in
2a development zone.
AB40-ASA1, s. 1782 3Section 1782. 71.07 (2dj) (e) 3. b. of the statutes is amended to read:
AB40-ASA1,702,84 71.07 (2dj) (e) 3. b. If certified under s. 560.765 (3), 2009 stats., for tax benefits
5after December 31, 1991, a statement from the department of commerce verifying the
6amount of qualifying wages and verifying that the employees were hired for work
7only in a development zone or are mobile employees or leased or rented employees
8whose base of operations is in a development zone.
AB40-ASA1, s. 1783 9Section 1783. 71.07 (2dL) (a) of the statutes is amended to read:
AB40-ASA1,702,1510 71.07 (2dL) (a) Except as provided in pars. (ag), (ar), (bm) and (f) and s. 73.03
11(35), for any taxable year for which the person is certified under s. 560.765 (3), 2009
12stats.,
for tax benefits, any person may claim as a credit against taxes otherwise due
13under this subchapter an amount equal to 2.5% of the amount expended by that
14person to acquire, construct, rehabilitate or repair real property in a development
15zone under subch. VI of ch. 560, 2009 stats.
AB40-ASA1, s. 1784 16Section 1784. 71.07 (2dL) (ag) of the statutes is amended to read:
AB40-ASA1,703,217 71.07 (2dL) (ag) If the credit under par. (a) is claimed for an amount expended
18to construct, rehabilitate, remodel or repair property, the claimant must have begun
19the physical work of construction, rehabilitation, remodeling or repair, or any
20demolition or destruction in preparation for the physical work, after the place where
21the property is located was designated a development zone under s. 560.71, 2009
22stats.,
and the completed project must be placed in service after the claimant is
23certified for tax benefits under s. 560.765 (3), 2009 stats. In this paragraph, "physical
24work" does not include preliminary activities such as planning, designing, securing

1financing, researching, developing specifications or stabilizing the property to
2prevent deterioration.
AB40-ASA1, s. 1785 3Section 1785. 71.07 (2dL) (ar) of the statutes is amended to read:
AB40-ASA1,703,134 71.07 (2dL) (ar) If the credit under par. (a) is claimed for an amount expended
5to acquire property, the property must have been acquired by the claimant after the
6place where the property is located was designated a development zone under s.
7560.71, 2009 stats., and the completed project must be placed in service after the
8claimant is certified for tax benefits under s. 560.765 (3), 2009 stats., and the
9property must not have been previously owned by the claimant or a related person
10during the 2 years prior to the designation of the development zone under s. 560.71,
112009 stats
. No credit is allowed for an amount expended to acquire property until
12the property, either in its original state as acquired by the claimant or as
13subsequently constructed, rehabilitated, remodeled or repaired, is placed in service.
AB40-ASA1, s. 1786 14Section 1786. 71.07 (2dL) (bm) of the statutes is amended to read:
AB40-ASA1,703,2115 71.07 (2dL) (bm) In calculating the credit under par. (a) a claimant shall reduce
16the amount expended to acquire property by a percentage equal to the percentage of
17the area of the real property not used for the purposes for which the claimant is
18certified to claim tax benefits under s. 560.765 (3), 2009 stats., and shall reduce the
19amount expended for other purposes by the amount expended on the part of the
20property not used for the purposes for which the claimant is certified to claim tax
21benefits under s. 560.765 (3), 2009 stats.
AB40-ASA1, s. 1787 22Section 1787. 71.07 (2dL) (c) of the statutes is amended to read:
AB40-ASA1,704,523 71.07 (2dL) (c) If the claimant is located on an Indian reservation, as defined
24in s. 560.86 (5), 2009 stats., and is an American Indian, as defined in s. 560.86 (1),
252009 stats., an Indian business, as defined in s. 560.86 (4), 2009 stats., or a tribal

1enterprise, as defined in sub. (2di) (b) 2., and if the allowable amount of the credit
2under par. (a) exceeds the taxes otherwise due under this chapter on or measured by
3the claimant's income, the amount of the credit not used as an offset against those
4taxes shall be certified to the department of administration for payment to the
5claimant by check, share draft or other draft.
AB40-ASA1, s. 1788 6Section 1788. 71.07 (2dm) (a) 1. of the statutes is amended to read:
AB40-ASA1,704,107 71.07 (2dm) (a) 1. "Certified" means entitled under s. 238.395 (3) (a) 4. or s.
8560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 238.395 (5),
9238.398 (5), or 238.3995 (4) or s.
560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats.,
10or s. 560.7995 (4), 2009 stats.
AB40-ASA1, s. 1789 11Section 1789. 71.07 (2dm) (a) 3. of the statutes is amended to read:
AB40-ASA1,704,1512 71.07 (2dm) (a) 3. "Development zone" means a development opportunity zone
13under s. 238.395 (1) (e) and (f) or 238.398 or s. 560.795 (1) (e) and (f), 2009 stats., or
14s. 560.798, 2009 stats., or an airport development zone under s. 238.3995 or s.
15560.7995, 2009 stats.
AB40-ASA1, s. 1790 16Section 1790. 71.07 (2dm) (a) 4. of the statutes is amended to read:
AB40-ASA1,704,2517 71.07 (2dm) (a) 4. "Previously owned property" means real property that the
18claimant or a related person owned during the 2 years prior to the department of
19commerce or the Wisconsin Economic Development Corporation designating the
20place where the property is located as a development zone and for which the claimant
21may not deduct a loss from the sale of the property to, or an exchange of the property
22with, the related person under section 267 of the Internal Revenue Code, except that
23section 267 (b) of the Internal Revenue Code is modified so that if the claimant owns
24any part of the property, rather than 50% ownership, the claimant is subject to
25section 267 (a) (1) of the Internal Revenue Code for purposes of this subsection.
AB40-ASA1, s. 1791
1Section 1791. 71.07 (2dm) (f) 1. of the statutes is amended to read:
AB40-ASA1,705,52 71.07 (2dm) (f) 1. A copy of a the verification from the department of commerce
3that the claimant may claim tax benefits under s. 238.395 (3) (a) 4. or s. 560.795 (3)
4(a) 4., 2009 stats., or is certified under s. 238.395 (5), 238.398 (3), or 238.3995 (4) or
5s.
560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats.
AB40-ASA1, s. 1792 6Section 1792. 71.07 (2dm) (f) 2. of the statutes is amended to read:
AB40-ASA1,705,107 71.07 (2dm) (f) 2. A statement from the department of commerce or the
8Wisconsin Economic Development Corporation
verifying the purchase price of the
9investment and verifying that the investment fulfills the requirements under par.
10(b).
AB40-ASA1, s. 1793 11Section 1793. 71.07 (2dm) (i) of the statutes is amended to read:
AB40-ASA1,705,2512 71.07 (2dm) (i) Partnerships, limited liability companies, and tax-option
13corporations may not claim the credit under this subsection, but the eligibility for,
14and the amount of, that credit shall be determined on the basis of their economic
15activity, not that of their shareholders, partners, or members. The corporation,
16partnership, or limited liability company shall compute the amount of credit that
17may be claimed by each of its shareholders, partners, or members and provide that
18information to its shareholders, partners, or members. Partners, members of limited
19liability companies, and shareholders of tax-option corporations may claim the
20credit based on the partnership's, company's, or corporation's activities in proportion
21to their ownership interest and may offset it against the tax attributable to their
22income from the partnership's, company's, or corporation's business operations in the
23development zone; except that partners, members, and shareholders in a
24development zone under s. 238.395 (1) (e) or s. 560.795 (1) (e), 2009 stats., may offset
25the credit against the amount of the tax attributable to their income.
AB40-ASA1, s. 1794
1Section 1794. 71.07 (2dm) (j) of the statutes is amended to read:
AB40-ASA1,706,122 71.07 (2dm) (j) If a person who is entitled under s. 238.395 (3) (a) 4. or s. 560.795
3(3) (a) 4., 2009 stats., to claim tax benefits becomes ineligible for such tax benefits,
4or if a person's certification under s. 238.395 (5), 238.398 (3), or 238.3995 (4) or s.
5560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., is
6revoked, that person may claim no credits under this subsection for the taxable year
7that includes the day on which the person becomes ineligible for tax benefits, the
8taxable year that includes the day on which the certification is revoked, or succeeding
9taxable years, and that person may carry over no unused credits from previous years
10to offset tax under this chapter for the taxable year that includes the day on which
11the person becomes ineligible for tax benefits, the taxable year that includes the day
12on which the certification is revoked, or succeeding taxable years.
AB40-ASA1, s. 1795 13Section 1795. 71.07 (2dm) (k) of the statutes is amended to read:
AB40-ASA1,706,2114 71.07 (2dm) (k) If a person who is entitled under s. 238.395 (3) (a) 4. or s.
15560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 238.395 (5),
16238.398 (3), or 238.3995 (4) or s.
560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats.,
17or s. 560.7995 (4), 2009 stats., ceases business operations in the development zone
18during any of the taxable years that that zone exists, that person may not carry over
19to any taxable year following the year during which operations cease any unused
20credits from the taxable year during which operations cease or from previous taxable
21years.
AB40-ASA1, s. 1796 22Section 1796. 71.07 (2dr) (a) of the statutes is amended to read:
AB40-ASA1,707,2123 71.07 (2dr) (a) Credit. Any person may credit against taxes otherwise due
24under this chapter an amount equal to 5% of the amount obtained by subtracting
25from the person's qualified research expenses, as defined in section 41 of the internal

1revenue code, except that "qualified research expenses" include only expenses
2incurred by the claimant in a development zone under subch. VI of ch. 560, 2009
3stats.,
except that a taxpayer may elect the alternative computation under section
441 (c) (4) of the Internal Revenue Code and that election applies until the department
5permits its revocation and except that "qualified research expenses" do not include
6compensation used in computing the credit under sub. (2dj) nor research expenses
7incurred before the claimant is certified for tax benefits under s. 560.765 (3), 2009
8stats.,
the person's base amount, as defined in section 41 (c) of the internal revenue
9code, in a development zone, except that gross receipts used in calculating the base
10amount means gross receipts from sales attributable to Wisconsin under s. 71.04 (7)
11(b) 1. and 2., (df) 1. and 2., (dh) 1., 2., and 3., (dj) 1. and (dk) 1. and research expenses
12used in calculating the base amount include research expenses incurred before the
13claimant is certified for tax benefits under s. 560.765 (3), 2009 stats., in a
14development zone, if the claimant submits with the claimant's return a copy of the
15claimant's certification for tax benefits under s. 560.765 (3) 2009 stats., and a
16statement from the department of commerce verifying the claimant's qualified
17research expenses for research conducted exclusively in a development zone. The
18rules under s. 73.03 (35) apply to the credit under this paragraph. The rules under
19sub. (2di) (f) and (g), as they apply to the credit under that subsection, apply to claims
20under this paragraph. Section 41 (h) of the internal revenue code does not apply to
21the credit under this paragraph.
AB40-ASA1, s. 1797 22Section 1797. 71.07 (2dr) (b) of the statutes is amended to read:
AB40-ASA1,708,623 71.07 (2dr) (b) Development opportunity zones. The development zones
24research credit under par. (a), as it applies to a person certified under s. 560.765 (3),
252009 stats., applies to a person that conducts economic activity in a development

1opportunity zone under s. 560.795 (1), 2009 stats., and that is entitled to tax benefits
2under s. 560.795 (3), 2009 stats., subject to the limits under s. 560.795 (2), 2009 stats.
3A development opportunity zone credit under this paragraph may be calculated
4using expenses incurred by a claimant beginning on the effective date under s.
5560.795 (2) (a), 2009 stats., of the development opportunity zone designation of the
6area in which the claimant conducts economic activity.
AB40-ASA1, s. 1798 7Section 1798. 71.07 (2ds) (a) 1. of the statutes is amended to read:
AB40-ASA1,708,98 71.07 (2ds) (a) 1. "Development zone" means a zone designated under s. 560.71,
92009 stats
.
AB40-ASA1, s. 1799 10Section 1799. 71.07 (2ds) (b) of the statutes is amended to read:
AB40-ASA1,708,2411 71.07 (2ds) (b) Except as provided in pars. (dm) and (e) and s. 73.03 (35), for
12any taxable year for which the person is certified under s. 560.765 (3), 2009 stats.,
13for tax benefits, any person may claim as a credit against taxes otherwise due under
14this chapter the taxes paid under subchs. III and V of ch. 77 on their purchases, leases
15and rentals of eligible property. Partnerships, limited liability companies and
16tax-option corporations may not claim the credit under this subsection, but the
17eligibility for, and the amount of, that credit shall be determined on the basis of their
18economic activity, not that of their partners, members or shareholders. The
19partnership, limited liability company or corporation shall compute the amount of
20credit that may be claimed by each of its partners, members or shareholders and
21shall provide that information to each of its partners, members or shareholders.
22Partners, members of a limited liability company and shareholders of tax-option
23corporations may claim the credit based on the partnership's, company's or
24corporation's activities in proportion to their ownership interest.
AB40-ASA1, s. 1800 25Section 1800. 71.07 (2ds) (d) 1. of the statutes is amended to read:
AB40-ASA1,709,2
171.07 (2ds) (d) 1. A copy of the claimant's certification for tax benefits under
2s. 560.765 (3), 2009 stats.
AB40-ASA1, s. 1801 3Section 1801. 71.07 (2dx) (a) 2. of the statutes is amended to read:
AB40-ASA1,709,94 71.07 (2dx) (a) 2. "Development zone" means a development zone under s.
5238.30 or s. 560.70, 2009 stats., a development opportunity zone under s. 238.395 or
6s.
560.795, 2009 stats., an enterprise development zone under s. 238.397 or s.
7560.797, 2009 stats., an agricultural development zone under s. 238.398 or s.
8560.798, 2009 stats., or an airport development zone under s. 238.3995 or s.
9560.7995, 2009 stats.
AB40-ASA1, s. 1803 10Section 1803. 71.07 (2dx) (b) (intro.) of the statutes is amended to read:
AB40-ASA1,709,1711 71.07 (2dx) (b) Credit. (intro.) Except as provided in pars. (be) and (bg) and
12in s. 73.03 (35), and subject to s. 238.385 or s. 560.785, 2009 stats., for any taxable
13year for which the person is entitled under s. 238.395 (3) or s. 560.795 (3), 2009 stats.,
14to claim tax benefits or certified under s. 238.365 (3), 238.397 (4), 238.398 (3), or
15238.3995 (4) or s.
560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3),
162009 stats., or s. 560.7995 (4), 2009 stats., any person may claim as a credit against
17the taxes otherwise due under this chapter the following amounts:
AB40-ASA1, s. 1804 18Section 1804. 71.07 (2dx) (b) 2. of the statutes is amended to read:
AB40-ASA1,709,2319 71.07 (2dx) (b) 2. The amount determined by multiplying the amount
20determined under s. 238.385 (1) (b) or s. 560.785 (1) (b), 2009 stats., by the number
21of full-time jobs created in a development zone and filled by a member of a targeted
22group and by then subtracting the subsidies paid under s. 49.147 (3) (a) or the
23subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.
AB40-ASA1, s. 1805 24Section 1805. 71.07 (2dx) (b) 3. of the statutes is amended to read:
AB40-ASA1,710,5
171.07 (2dx) (b) 3. The amount determined by multiplying the amount
2determined under s. 238.385 (1) (c) or s. 560.785 (1) (c), 2009 stats., by the number
3of full-time jobs created in a development zone and not filled by a member of a
4targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) or
5the subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.
AB40-ASA1, s. 1806 6Section 1806. 71.07 (2dx) (b) 4. of the statutes is amended to read:
AB40-ASA1,710,147 71.07 (2dx) (b) 4. The amount determined by multiplying the amount
8determined under s. 238.385 (1) (bm) or s. 560.785 (1) (bm), 2009 stats., by the
9number of full-time jobs retained, as provided in the rules under s. 238.385 or s.
10560.785, 2009 stats., excluding jobs for which a credit has been claimed under sub.
11(2dj), in an enterprise development zone under s. 238.397 or s. 560.797, 2009 stats.,
12and for which significant capital investment was made and by then subtracting the
13subsidies paid under s. 49.147 (3) (a) or the subsidies and reimbursements paid
14under s. 49.147 (3m) (c) for those jobs.
AB40-ASA1, s. 1807 15Section 1807. 71.07 (2dx) (b) 5. of the statutes is amended to read:
AB40-ASA1,710,2216 71.07 (2dx) (b) 5. The amount determined by multiplying the amount
17determined under s. 238.385 (1) (c) or s. 560.785 (1) (c), 2009 stats., by the number
18of full-time jobs retained, as provided in the rules under s. 238.385 or s. 560.785,
192009 stats., excluding jobs for which a credit has been claimed under sub. (2dj), in
20a development zone and not filled by a member of a targeted group and by then
21subtracting the subsidies paid under s. 49.147 (3) (a) or the subsidies and
22reimbursements paid under s. 49.147 (3m) (c) for those jobs.
AB40-ASA1, s. 1808 23Section 1808. 71.07 (2dx) (be) of the statutes is amended to read:
AB40-ASA1,711,424 71.07 (2dx) (be) Offset. A claimant in a development zone under s. 238.395 (1)
25(e) or s.
560.795 (1) (e), 2009 stats., may offset any credits claimed under this

1subsection, including any credits carried over, against the amount of the tax
2otherwise due under this subchapter attributable to all of the claimant's income and
3against the tax attributable to income from directly related business operations of
4the claimant.
AB40-ASA1, s. 1809 5Section 1809. 71.07 (2dx) (bg) of the statutes is amended to read:
AB40-ASA1,711,176 71.07 (2dx) (bg) Other entities. For claimants in a development zone under s.
7238.395 (1) (e) or s. 560.795 (1) (e), 2009 stats., partnerships, limited liability
8companies, and tax-option corporations may not claim the credit under this
9subsection, but the eligibility for, and amount of, that credit shall be determined on
10the basis of their economic activity, not that of their shareholders, partners, or
11members. The corporation, partnership, or company shall compute the amount of
12the credit that may be claimed by each of its shareholders, partners, or members and
13shall provide that information to each of its shareholders, partners, or members.
14Partners, members of limited liability companies, and shareholders of tax-option
15corporations may claim the credit based on the partnership's, company's, or
16corporation's activities in proportion to their ownership interest and may offset it
17against the tax attributable to their income.
AB40-ASA1, s. 1810 18Section 1810. 71.07 (2dx) (c) of the statutes is amended to read:
AB40-ASA1,712,519 71.07 (2dx) (c) Credit precluded. If the certification of a person for tax benefits
20under s. 238.365 (3), 238.397 (4), 238.398 (3), or 238.3995 (4) or s. 560.765 (3), 2009
21stats., s.
560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009
22stats.,
is revoked, or if the person becomes ineligible for tax benefits under s. 238.395
23(3) or s.
560.795 (3), 2009 stats., that person may not claim credits under this
24subsection for the taxable year that includes the day on which the certification is
25revoked; the taxable year that includes the day on which the person becomes

1ineligible for tax benefits; or succeeding taxable years and that person may not carry
2over unused credits from previous years to offset tax under this chapter for the
3taxable year that includes the day on which certification is revoked; the taxable year
4that includes the day on which the person becomes ineligible for tax benefits; or
5succeeding taxable years.
AB40-ASA1, s. 1811 6Section 1811. 71.07 (2dx) (d) of the statutes is amended to read:
AB40-ASA1,712,147 71.07 (2dx) (d) Carry-over precluded. If a person who is entitled under s.
8238.395 (3) or s. 560.795 (3), 2009 stats., to claim tax benefits or certified under s.
9238.365 (3), 238.397 (4), 238.398 (3), or 238.3995 (4) or s. 560.765 (3), 2009 stats., s.
10560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., for
11tax benefits ceases business operations in the development zone during any of the
12taxable years that that zone exists, that person may not carry over to any taxable
13year following the year during which operations cease any unused credits from the
14taxable year during which operations cease or from previous taxable years.
AB40-ASA1, s. 1812 15Section 1812. 71.07 (2dy) (a) of the statutes is amended to read:
AB40-ASA1,712,1916 71.07 (2dy) (a) Definition. In this subsection, "claimant" means a person who
17files a claim under this subsection and is certified under s. 238.301 (2) or s. 560.701
18(2), 2009 stats., and authorized to claim tax benefits under s. 238.303 or s. 560.703,
192009 stats
.
AB40-ASA1, s. 1813 20Section 1813. 71.07 (2dy) (b) of the statutes is amended to read:
AB40-ASA1,712,2521 71.07 (2dy) (b) Filing claims. Subject to the limitations under this subsection
22and ss. 238.301 to 238.306 or ss. 560.701 to 560.706, 2009 stats., for taxable years
23beginning after December 31, 2008, a claimant may claim as a credit against the tax
24imposed under s. 71.02 or 71.08, up to the amount of the tax, the amount authorized
25for the claimant under s. 238.303 or s. 560.703, 2009 stats.
AB40-ASA1, s. 1814
1Section 1814. 71.07 (2dy) (c) 1. of the statutes is amended to read:
AB40-ASA1,713,52 71.07 (2dy) (c) 1. No credit may be allowed under this subsection unless the
3claimant includes with the claimant's return a copy of the claimant's certification
4under s. 238.301 (2) or s. 560.701 (2), 2009 stats., and a copy of the claimant's notice
5of eligibility to receive tax benefits under s. 238.303 (3) or s. 560.703 (3), 2009 stats.
AB40-ASA1, s. 1815 6Section 1815. 71.07 (2dy) (c) 2. of the statutes is amended to read:
AB40-ASA1,713,157 71.07 (2dy) (c) 2. Partnerships, limited liability companies, and tax-option
8corporations may not claim the credit under this subsection, but the eligibility for,
9and the amount of, the credit are based on their authorization to claim tax benefits
10under s. 238.303 or s. 560.703, 2009 stats. A partnership, limited liability company,
11or tax-option corporation shall compute the amount of credit that each of its
12partners, members, or shareholders may claim and shall provide that information
13to each of them. Partners, members of limited liability companies, and shareholders
14of tax-option corporations may claim the credit in proportion to their ownership
15interests.
AB40-ASA1, s. 1816 16Section 1816. 71.07 (2dy) (d) 2. of the statutes is amended to read:
AB40-ASA1,714,217 71.07 (2dy) (d) 2. If a claimant's certification is revoked under s. 238.305 or s.
18560.705, 2009 stats., or if a claimant becomes ineligible for tax benefits under s.
19238.302 or s. 560.702, 2009 stats., the claimant may not claim credits under this
20subsection for the taxable year that includes the day on which the certification is
21revoked; the taxable year that includes the day on which the claimant becomes
22ineligible for tax benefits; or succeeding taxable years and the claimant may not
23carry over unused credits from previous years to offset the tax imposed under s. 71.02
24or 71.08 for the taxable year that includes the day on which certification is revoked;

1the taxable year that includes the day on which the claimant becomes ineligible for
2tax benefits; or succeeding taxable years.
AB40-ASA1, s. 1817 3Section 1817. 71.07 (3g) (a) (intro.) of the statutes is amended to read:
AB40-ASA1,714,84 71.07 (3g) (a) (intro.) Subject to the limitations under this subsection and ss.
573.03 (35m) and 238.23 and s. 560.96, 2009 stats., a business that is certified under
6s. 238.23 (3) or s. 560.96 (3), 2009 stats., may claim as a credit against the taxes
7imposed under s. 71.02 an amount equal to the sum of the following, as established
8under s. 238.23 (3) (c) or s. 560.96 (3) (c), 2009 stats:
AB40-ASA1, s. 1818 9Section 1818. 71.07 (3g) (b) of the statutes is amended to read:
AB40-ASA1,714,1210 71.07 (3g) (b) The department of revenue shall notify the department of
11commerce or the Wisconsin Economic Development Corporation of all claims under
12this subsection.
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