AB40-ASA1,827,1614 71.42 (2) (tn) For taxable years that begin after December 31, 2010, "Internal
15Revenue Code" means the federal Internal Revenue Code as amended to
16December 31, 2010, excluding sections 103, 104, and 110 of P.L. 102-227, sections
1713113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, sections 1123 (b),
181202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, sections 1, 3, 4, and 5 of P.L.
19106-519, sections 162 and 165 of P.L. 106-554, P.L. 106-573, section 431 of P.L.
20107-16, sections 101 and 301 (a) of P.L. 107-147, sections 106, 201, and 202 of P.L.
21108-27, section 1201 of P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of P.L.
22108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
23108-357, P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
241329, 1348, and 1351 of P.L. 109-58, section 11146 of P.L. 109-59, section 301 of P.L.
25109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),

1(j), and (q), and 405 of P.L. 109-135, sections 101, 207, 503, and 513 of P.L. 109-222,
2P.L. 109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of
3division A and section 403 of division C of P.L. 109-432, P.L. 110-28, except sections
48215, 8231, 8232, 8234, and 8236 of P.L. 110-28, P.L. 110-140, sections 2, 3, and 5
5of P.L. 110-142, P.L. 110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L. 110-172,
6P.L. 110-185, P.L. 110-234, section 301 of P.L. 110-245, P.L. 110-246, except sections
74, 15312, 15313, 15314, 15316, and 15342 of P.L. 110-246, sections 3071, 3081, and
83082 of P.L. 110-289, section 9 (e) of P.L. 110-317, P.L. 110-343, except sections 116,
9208, 211, and 301 of division B and sections 313 and 504 of division C of P.L. 110-343,
10P.L. 111-5, except sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of
11division B of P.L. 111-5, section 201 of P.L. 111-147, P.L. 111-148, except sections
121322, 1515, 9003, 9021, 9022, 10108, 10908, and 10909 of P.L. 111-148, P.L. 111-152,
13except section 1407 of P.L. 111-152, P.L. 111-203, except section 1601 of P.L. 111-203,
14P.L. 111-226, except sections 215 and 217 of P.L. 111-226, P.L. 111-240, except
15sections 2014, 2043, 2111, 2112, and 2113 of P.L. 111-240, and P.L. 111-312, and as
16indirectly affected by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L.
17101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections
18103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding
19sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L.
20103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections
211123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L.
22104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L.
23106-36, P.L. 106-170, P.L. 106-230, P.L. 106-554, excluding sections 162 and 165 of
24P.L. 106-554, P.L. 107-15, P.L. 107-16, excluding section 431 of P.L. 107-16, P.L.
25107-22, P.L. 107-116, P.L. 107-134, P.L. 107-147, excluding sections 101 and 301 (a)

1of P.L. 107-147, P.L. 107-181, P.L. 107-210, P.L. 107-276, P.L. 107-358, P.L. 108-27,
2excluding sections 106, 201, and 202 of P.L. 108-27, P.L. 108-121, P.L. 108-173,
3excluding section 1201 of P.L. 108-173, P.L. 108-203, P.L. 108-218, P.L. 108-311,
4excluding sections 306, 308, 316, 401, and 403 (a) of P.L. 108-311, P.L. 108-357,
5excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
6P.L. 108-357, P.L. 108-375, P.L. 108-476, P.L. 109-7, P.L. 109-58, excluding sections
71305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
8109-58, P.L. 109-59, excluding section 11146 of P.L. 109-59, P.L. 109-73, excluding
9section 301 of P.L. 109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it
10relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L.
11109-151, P.L. 109-222, excluding sections 101, 207, 503, and 513 of P.L. 109-222,
12P.L. 109-227, P.L. 109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425
13of division A and section 403 of division C of P.L. 109-432, sections 8215, 8231, 8232,
148234, and 8236 of P.L. 110-28, P.L. 110-141, P.L. 110-142, excluding sections 2, 3,
15and 5 of P.L. 110-142, P.L. 110-172, excluding sections 3 (b) and 11 (b), (e), and (g)
16of P.L. 110-172, P.L. 110-245, excluding section 301 of P.L. 110-245, sections 4,
1715312, 15313, 15314, 15316, and 15342 of P.L. 110-246, P.L. 110-289, excluding
18sections 3071, 3081, and 3082 of P.L. 110-289, P.L. 110-317, excluding section 9 (e)
19of P.L. 110-317, sections 116, 208, 211, and 301 of division B and sections 313 and 504
20of division C of P.L. 110-343, P.L. 110-351, P.L. 110-458, sections 1261, 1262, 1401,
211402, 1521, 1522, 1531, and 1541 of division B of P.L. 111-5, P.L. 111-92, P.L.
22111-147, excluding section 201 of P.L. 111-147, sections 1322, 1515, 9003, 9021,
239022, 10108, 10908, and 10909 of P.L. 111-148, section 1407 of P.L. 111-152, P.L.
24111-192, section 1601 of P.L. 111-203, sections 215 and 217 of P.L. 111-226, sections
252014, 2043, 2111, 2112, and 2113 of P.L. 111-240, and P.L. 111-325, except that

1"Internal Revenue Code" does not include section 847 of the federal Internal Revenue
2Code. The Internal Revenue Code applies for Wisconsin purposes at the same time
3as for federal purposes, except that changes made by section 209 of P.L. 109-222,
4sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of division A and section 403
5of division C of P.L. 109-432, sections 8215, 8231, 8232, 8234, and 8236 of P.L.
6110-28, P.L. 110-141, P.L. 110-142, excluding sections 2, 3, and 5 of P.L. 110-142,
7P.L. 110-172, excluding sections 3 (b) and 11 (b), (e), and (g) of P.L. 110-172, sections
8110 and 113 of P.L. 110-245, sections 15312, 15313, 15314, and 15342 of P.L. 110-246,
9sections 3031, 3032, 3033, 3041, 3051, 3052, 3061, and 3092 of P.L. 110-289, P.L.
10110-317, excluding section 9 (e) of P.L. 110-317, sections 116, 208, and 211 of division
11B and section 504 of division C of P.L. 110-343, section 14 of P.L. 111-92, sections 531,
12532, and 533 of P.L. 111-147, sections 10908 and 10909 of P.L. 111-148, and section
132043 of P.L. 111-240 do not apply for taxable years beginning before January 1, 2011.
14Amendments to the federal Internal Revenue Code enacted after December 31, 2010,
15do not apply to this paragraph with respect to taxable years beginning after
16December 31, 2010.
AB40-ASA1, s. 2014r 17Section 2014r. 71.45 (1t) (j) of the statutes is repealed.
AB40-ASA1, s. 2015d 18Section 2015d. 71.45 (1t) (m) of the statutes is created to read:
AB40-ASA1,827,2119 71.45 (1t) (m) Those issued by the Wisconsin Housing and Economic
20Development Authority to provide loans to a public affairs network under s. 234.75
21(4).
AB40-ASA1, s. 2015e 22Section 2015e. 71.45 (2) (a) 10. of the statutes, as affected by 2011 Wisconsin
23Act 3
, is amended to read:
AB40-ASA1,828,524 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
25computed under s. 71.47 (1dd) to (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn),

1(3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5n), (5r), (5rm), (8r), and (9s) and not passed
2through by a partnership, limited liability company, or tax-option corporation that
3has added that amount to the partnership's, limited liability company's, or
4tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g) and the amount
5of credit computed under s. 71.47 (1), (3), (3t), (4), (4m), and (5).
AB40-ASA1, s. 2015f 6Section 2015f. 71.45 (4) of the statutes is renumbered 71.45 (4) (a) and
7amended to read:
AB40-ASA1,828,178 71.45 (4) (a) Insurers Except as provided in par. (b), insurers computing tax
9under this subchapter may subtract from Wisconsin net income any Wisconsin net
10business loss sustained in any of the next 15 preceding taxable years to the extent
11not offset by Wisconsin net business income of any year between the loss year and
12the taxable year for which an offset is claimed and computed without regard to sub.
13(2) (a) 8. and 9. and this subsection and limited to the amount of net income, but no
14loss incurred for a taxable year before taxable year 1987 by a nonprofit service plan
15of sickness care under ch. 148, or dental care under s. 447.13 may be treated as a net
16business loss of the successor service insurer under ch. 613 operating by virtue of s.
17148.03 or 447.13.
AB40-ASA1, s. 2015g 18Section 2015g. 71.45 (4) (b) of the statutes is created to read:
AB40-ASA1,828,2219 71.45 (4) (b) An insurer that is part of a combined group under s. 71.255 may
20offset against its Wisconsin net business income any unused pre-2009 net business
21loss carry-forward under s. 71.255 (6) (bm) for the 20 taxable years that begin after
22December 31, 2011.
AB40-ASA1, s. 2016 23Section 2016. 71.47 (1dd) (b) of the statutes is amended to read:
AB40-ASA1,829,424 71.47 (1dd) (b) Except as provided in s. 73.03 (35), for any taxable year for
25which that person is certified under s. 560.765 (3), 2009 stats., and begins business

1operations in a zone under s. 560.71, 2009 stats., after July 29, 1995, or certified
2under s. 560.797 (4) (a), 2009 stats., for each zone for which the person is certified
3or entitled a person may credit against taxes otherwise due under this subchapter
4employment-related day care expenses, up to $1,200 for each qualifying individual.
AB40-ASA1, s. 2017 5Section 2017. 71.47 (1de) (a) (intro.) of the statutes is amended to read:
AB40-ASA1,829,146 71.47 (1de) (a) (intro.) Except as provided in s. 73.03 (35), for any taxable year
7for which a person is certified under s. 560.765 (3), 2009 stats., and begins business
8operations in a zone under s. 560.71, 2009 stats., after July 29, 1995, or certified
9under s. 560.797 (4) (a), 2009 stats., for each zone for which the person is certified
10or entitled the person may claim as a credit against taxes otherwise due under this
11subchapter an amount equal to 7.5% of the amount that the person expends to
12remove or contain environmental pollution, as defined in s. 299.01 (4), in the zone or
13to restore soil or groundwater that is affected by environmental pollution, as defined
14in s. 299.01 (4), in the zone if the person fulfills all of the following requirements:
AB40-ASA1, s. 2018 15Section 2018. 71.47 (1de) (a) 1. of the statutes is amended to read:
AB40-ASA1,829,2016 71.47 (1de) (a) 1. Begins the work, other than planning and investigating, for
17which the credit is claimed after the area that includes the site where the work is
18done is designated a development zone under s. 560.71, 2009 stats., or an enterprise
19development zone under s. 560.797, 2009 stats., and after the claimant is certified
20under s. 560.765 (3), 2009 stats., or certified under s. 560.797 (4) (a), 2009 stats.
AB40-ASA1, s. 2019 21Section 2019. 71.47 (1di) (a) (intro.) of the statutes is amended to read:
AB40-ASA1,830,322 71.47 (1di) (a) (intro.) Except as provided in pars. (dm) and (f) and s. 73.03 (35),
23for any taxable year for which the person is entitled under s. 560.795 (3), 2009 stats.,
24to claim tax benefits, any person may claim as a credit against taxes otherwise due
25under this chapter 2.5% of the purchase price of depreciable, tangible personal

1property, or 1.75% of the purchase price of depreciable, tangible personal property
2that is expensed under section 179 of the internal revenue code for purposes of the
3taxes under this chapter, except that:
AB40-ASA1, s. 2020 4Section 2020. 71.47 (1di) (a) 1. of the statutes is amended to read:
AB40-ASA1,830,105 71.47 (1di) (a) 1. The investment must be in property that is purchased after
6the person is entitled under s. 560.795 (3), 2009 stats., to claim tax benefits and that
7is used for at least 50% of its use in the conduct of the person's business operations
8at a location in a development zone under subch. VI of ch. 560, 2009 stats., or, if the
9property is mobile, the base of operations of the property for at least 50% of its use
10must be a location in a development zone.
AB40-ASA1, s. 2021 11Section 2021. 71.47 (1di) (b) 2. of the statutes is amended to read:
AB40-ASA1,830,1912 71.47 (1di) (b) 2. If the claimant is located on an Indian reservation, as defined
13in s. 560.86 (5), 2009 stats., and is an American Indian, as defined in s. 560.86 (1),
142009 stats., an Indian business, as defined in s. 560.86 (4), 2009 stats., or a tribal
15enterprise, as defined in s. 71.07 (2di) (b) 2., and if the allowable amount of the credit
16under this subsection exceeds the taxes otherwise due under this chapter on or
17measured by the claimant's income, the amount of the credit not used as an offset
18against those taxes shall be certified to the department of administration for
19payment to the claimant by check, share draft or other draft.
AB40-ASA1, s. 2022 20Section 2022. 71.47 (1di) (b) 3. of the statutes is amended to read:
AB40-ASA1,831,1221 71.47 (1di) (b) 3. Partnerships, limited liability companies and tax-option
22corporations may not claim the credit under this subsection, but the eligibility for,
23and amount of, that credit shall be determined on the basis of their economic activity,
24not that of their shareholders, partners or members. The corporation, partnership
25or limited liability company shall compute the amount of the credit that may be

1claimed by each of its shareholders, partners or members and shall provide that
2information to each of its shareholders, partners or members. Partners, members
3of limited liability companies and shareholders of tax-option corporations may claim
4the credit based on the partnership's, company's or corporation's activities in
5proportion to their ownership interest and may offset it against the tax attributable
6to their income from the partnership's, company's or corporation's business
7operations in the development zone; except that a claimant in a development zone
8under s. 560.795 (1) (e), 2009 stats., may offset the credit, including any credits
9carried over, against the amount of the tax otherwise due under this chapter
10attributable to all of the claimant's income; and against the tax attributable to their
11income from the partnership's, company's or corporation's directly related business
12operations.
AB40-ASA1, s. 2023 13Section 2023. 71.47 (1di) (d) 1. of the statutes is amended to read:
AB40-ASA1,831,1514 71.47 (1di) (d) 1. A copy of a verification from the department of commerce that
15the claimant may claim tax benefits under s. 560.795 (3), 2009 stats.
AB40-ASA1, s. 2024 16Section 2024. 71.47 (1di) (f) of the statutes is amended to read:
AB40-ASA1,831,2317 71.47 (1di) (f) If a person who is entitled under s. 560.795 (3), 2009 stats., to
18claim tax benefits becomes ineligible for such tax benefits, that person may claim no
19credits under this subsection for the taxable year that includes the day on which the
20person becomes ineligible for tax benefits or succeeding taxable years and that
21person may carry over no unused credits from previous years to offset tax under this
22chapter for the taxable year that includes the day on which the person becomes
23ineligible for tax benefits or succeeding taxable years.
AB40-ASA1, s. 2025 24Section 2025. 71.47 (1di) (g) of the statutes is amended to read:
AB40-ASA1,832,5
171.47 (1di) (g) If a person who is entitled under s. 560.795 (3), 2009 stats., to
2claim tax benefits ceases business operations in the development zone during any of
3the taxable years that that zone exists, that person may not carry over to any taxable
4year following the year during which operations cease any unused credits from the
5taxable year during which operations cease or from previous taxable years.
AB40-ASA1, s. 2026 6Section 2026. 71.47 (1dj) (am) (intro.) of the statutes is amended to read:
AB40-ASA1,832,107 71.47 (1dj) (am) (intro.) Except as provided under par. (f) or s. 73.03 (35), for
8any taxable year for which the person is certified under s. 560.765 (3), 2009 stats.,
9for tax benefits, any person may claim as a credit against taxes otherwise due under
10this chapter an amount calculated as follows:
AB40-ASA1, s. 2027 11Section 2027. 71.47 (1dj) (am) 4. a. of the statutes is amended to read:
AB40-ASA1,832,1812 71.47 (1dj) (am) 4. a. If certified under s. 560.765 (3), 2009 stats., for tax
13benefits before January 1, 1992, modify "qualified wages" as defined in section 51 (b)
14of the internal revenue code to exclude wages paid before the claimant is certified for
15tax benefits and to exclude wages that are paid to employees for work at any location
16that is not in a development zone under subch. VI of ch. 560, 2009 stats. For purposes
17of this subd. 4. a., mobile employees work at their base of operations and leased or
18rented employees work at the location where they perform services.
AB40-ASA1, s. 2028 19Section 2028. 71.47 (1dj) (am) 4. b. of the statutes is amended to read:
AB40-ASA1,833,220 71.47 (1dj) (am) 4. b. If certified under s. 560.765 (3), 2009 stats., for tax
21benefits after December 31, 1991, modify "qualified wages" as defined in section 51
22(b) of the internal revenue code to exclude wages paid before the claimant is certified
23for tax benefits and to exclude wages that are paid to employees for work at any
24location that is not in a development zone under subch. VI of ch. 560, 2009 stats. For

1purposes of this subd. 4. b., mobile employees and leased or rented employees work
2at their base of operations.
AB40-ASA1, s. 2029 3Section 2029. 71.47 (1dj) (am) 4c. of the statutes is amended to read:
AB40-ASA1,833,84 71.47 (1dj) (am) 4c. Modify the rule for ineligible individuals under section 51
5(i) (1) of the internal revenue code to allow credit for the wages of related individuals
6paid by an Indian business, as defined in s. 560.86 (4), 2009 stats., or a tribal
7enterprise, as defined in s. 71.07 (2di) (b) 2., if the Indian business or tribal enterprise
8is located in a development zone designated under s. 560.71 (3) (c) 2., 2009 stats.
AB40-ASA1, s. 2030 9Section 2030. 71.47 (1dj) (am) 4t. of the statutes is amended to read:
AB40-ASA1,833,1610 71.47 (1dj) (am) 4t. If certified under s. 560.765 (3), 2009 stats., for tax benefits
11before January 1, 1992, modify section 51 (i) (3) of the internal revenue code so that
12for leased or rented employees, except employees of a leasing agency certified for tax
13benefits who perform services directly for the agency in a development zone, the
14minimum employment periods apply to the time that they perform services in a
15development zone for a single lessee or renter, not to their employment by the leasing
16agency.
AB40-ASA1, s. 2031 17Section 2031. 71.47 (1dj) (e) 1. of the statutes is amended to read:
AB40-ASA1,833,1918 71.47 (1dj) (e) 1. A copy of the claimant's certification for tax benefits under s.
19560.765 (3), 2009 stats.
AB40-ASA1, s. 2032 20Section 2032. 71.47 (1dj) (e) 3. a. of the statutes is amended to read:
AB40-ASA1,833,2521 71.47 (1dj) (e) 3. a. If certified under s. 560.765 (3), 2009 stats., for tax benefits
22before January 1, 1992, a statement from the department of commerce verifying the
23amount of qualifying wages and verifying that the employees were hired for work
24only in a development zone or are mobile employees whose base of operations is in
25a development zone.
AB40-ASA1, s. 2033
1Section 2033. 71.47 (1dj) (e) 3. b. of the statutes is amended to read:
AB40-ASA1,834,62 71.47 (1dj) (e) 3. b. If certified under s. 560.765 (3), 2009 stats., for tax benefits
3after December 31, 1991, a statement from the department of commerce verifying the
4amount of qualifying wages and verifying that the employees were hired for work
5only in a development zone or are mobile employees or leased or rented employees
6whose base of operations is in a development zone.
AB40-ASA1, s. 2034 7Section 2034. 71.47 (1dL) (a) of the statutes is amended to read:
AB40-ASA1,834,138 71.47 (1dL) (a) Except as provided in pars. (ag), (ar), (bm) and (f) and s. 73.03
9(35), for any taxable year for which the person is certified under s. 560.765 (3), 2009
10stats.,
for tax benefits, any person may claim as a credit against taxes otherwise due
11under this subchapter an amount equal to 2.5% of the amount expended by that
12person to acquire, construct, rehabilitate or repair real property in a development
13zone under subch. VI of ch. 560, 2009 stats.
AB40-ASA1, s. 2035 14Section 2035. 71.47 (1dL) (ag) of the statutes is amended to read:
AB40-ASA1,834,2415 71.47 (1dL) (ag) If the credit under par. (a) is claimed for an amount expended
16to construct, rehabilitate, remodel or repair property, the claimant must have begun
17the physical work of construction, rehabilitation, remodeling or repair, or any
18demolition or destruction in preparation for the physical work, after the place where
19the property is located was designated a development zone under s. 560.71, 2009
20stats.,
and the completed project must be placed in service after the claimant is
21certified for tax benefits under s. 560.765 (3), 2009 stats. In this paragraph, "physical
22work" does not include preliminary activities such as planning, designing, securing
23financing, researching, developing specifications or stabilizing the property to
24prevent deterioration.
AB40-ASA1, s. 2036 25Section 2036. 71.47 (1dL) (ar) of the statutes is amended to read:
AB40-ASA1,835,10
171.47 (1dL) (ar) If the credit under par. (a) is claimed for an amount expended
2to acquire property, the property must have been acquired by the claimant after the
3place where the property is located was designated a development zone under s.
4560.71, 2009 stats., and the completed project must be placed in service after the
5claimant is certified for tax benefits under s. 560.765 (3), 2009 stats., and the
6property must not have been previously owned by the claimant or a related person
7during the 2 years prior to the designation of the development zone under s. 560.71,
82009 stats
. No credit is allowed for an amount expended to acquire property until
9the property, either in its original state as acquired by the claimant or as
10subsequently constructed, rehabilitated, remodeled or repaired, is placed in service.
AB40-ASA1, s. 2037 11Section 2037. 71.47 (1dL) (bm) of the statutes is amended to read:
AB40-ASA1,835,1812 71.47 (1dL) (bm) In calculating the credit under par. (a) a claimant shall reduce
13the amount expended to acquire property by a percentage equal to the percentage of
14the area of the real property not used for the purposes for which the claimant is
15certified to claim tax benefits under s. 560.765 (3), 2009 stats., and shall reduce the
16amount expended for other purposes by the amount expended on the part of the
17property not used for the purposes for which the claimant is certified to claim tax
18benefits under s. 560.765 (3), 2009 stats.
AB40-ASA1, s. 2038 19Section 2038. 71.47 (1dL) (c) of the statutes is amended to read:
AB40-ASA1,836,220 71.47 (1dL) (c) If the claimant is located on an Indian reservation, as defined
21in s. 560.86 (5), 2009 stats., and is an American Indian, as defined in s. 560.86 (1),
222009 stats.,
an Indian business, as defined in s. 560.86 (4), 2009 stats., or a tribal
23enterprise, as defined in s. 71.07 (2di) (b) 2., and if the allowable amount of the credit
24under par. (a) exceeds the taxes otherwise due under this chapter on or measured by
25the claimant's income, the amount of the credit not used as an offset against those

1taxes shall be certified to the department of administration for payment to the
2claimant by check, share draft or other draft.
AB40-ASA1, s. 2039 3Section 2039. 71.47 (1dm) (a) 1. of the statutes is amended to read:
AB40-ASA1,836,74 71.47 (1dm) (a) 1. "Certified" means entitled under s. 238.395 (3) (a) 4. or s.
5560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 238.395 (5),
6238.398 (3), or 238.3995 (4) or s.
560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats.,
7or s. 560.7995 (4), 2009 stats.
AB40-ASA1, s. 2040 8Section 2040. 71.47 (1dm) (a) 3. of the statutes is amended to read:
AB40-ASA1,836,129 71.47 (1dm) (a) 3. "Development zone" means a development opportunity zone
10under s. 238.395 (1) (e) and (f) or 238.398 or s. 560.795 (1) (e) and (f), 2009 stats., or
11s. 560.798, 2009 stats., or an airport development zone under s. 238.3995 or s.
12560.7995, 2009 stats.
AB40-ASA1, s. 2041 13Section 2041. 71.47 (1dm) (a) 4. of the statutes is amended to read:
AB40-ASA1,836,2214 71.47 (1dm) (a) 4. "Previously owned property" means real property that the
15claimant or a related person owned during the 2 years prior to the department of
16commerce or the Wisconsin Economic Development Corporation designating the
17place where the property is located as a development zone and for which the claimant
18may not deduct a loss from the sale of the property to, or an exchange of the property
19with, the related person under section 267 of the Internal Revenue Code, except that
20section 267 (b) of the Internal Revenue Code is modified so that if the claimant owns
21any part of the property, rather than 50% ownership, the claimant is subject to
22section 267 (a) (1) of the Internal Revenue Code for purposes of this subsection.
AB40-ASA1, s. 2042 23Section 2042. 71.47 (1dm) (f) 1. of the statutes is amended to read:
AB40-ASA1,837,224 71.47 (1dm) (f) 1. A copy of a the verification from the department of commerce
25that the claimant may claim tax benefits under s. 238.395 (3) (a) 4. or s. 560.795 (3)

1(a) 4., 2009 stats., or is certified under s. 238.395 (5), 238.398 (3), or 238.3995 (4) or
2s.
560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats.
AB40-ASA1, s. 2043 3Section 2043. 71.47 (1dm) (f) 2. of the statutes is amended to read:
AB40-ASA1,837,74 71.47 (1dm) (f) 2. A statement from the department of commerce or the
5Wisconsin Economic Development Corporation
verifying the purchase price of the
6investment and verifying that the investment fulfills the requirements under par.
7(b).
AB40-ASA1, s. 2044 8Section 2044. 71.47 (1dm) (i) of the statutes is amended to read:
AB40-ASA1,837,229 71.47 (1dm) (i) Partnerships, limited liability companies, and tax-option
10corporations may not claim the credit under this subsection, but the eligibility for,
11and the amount of, that credit shall be determined on the basis of their economic
12activity, not that of their shareholders, partners, or members. The corporation,
13partnership, or limited liability company shall compute the amount of credit that
14may be claimed by each of its shareholders, partners, or members and provide that
15information to its shareholders, partners, or members. Partners, members of limited
16liability companies, and shareholders of tax-option corporations may claim the
17credit based on the partnership's, company's, or corporation's activities in proportion
18to their ownership interest and may offset it against the tax attributable to their
19income from the partnership's, company's, or corporation's business operations in the
20development zone; except that partners, members, and shareholders in a
21development zone under s. 238.395 (1) (e) or s. 560.795 (1) (e), 2009 stats., may offset
22the credit against the amount of the tax attributable to their income.
AB40-ASA1, s. 2045 23Section 2045. 71.47 (1dm) (j) of the statutes is amended to read:
AB40-ASA1,838,924 71.47 (1dm) (j) If a person who is entitled under s. 238.395 (3) (a) 4. or s. 560.795
25(3) (a) 4., 2009 stats., to claim tax benefits becomes ineligible for such tax benefits,

1or if a person's certification under s. 238.395 (5), 238.398 (3), or 238.3995 (4) or s.
2560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., is
3revoked, that person may claim no credits under this subsection for the taxable year
4that includes the day on which the person becomes ineligible for tax benefits, the
5taxable year that includes the day on which the certification is revoked, or succeeding
6taxable years, and that person may carry over no unused credits from previous years
7to offset tax under this chapter for the taxable year that includes the day on which
8the person becomes ineligible for tax benefits, the taxable year that includes the day
9on which the certification is revoked, or succeeding taxable years.
AB40-ASA1, s. 2046 10Section 2046. 71.47 (1dm) (k) of the statutes is amended to read:
AB40-ASA1,838,1811 71.47 (1dm) (k) If a person who is entitled under s. 238.395 (3) (a) 4. or s.
12560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 238.395 (5),
13238.398 (3), or 238.3995 (4) or s.
560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats.,
14or s. 560.7995 (4), 2009 stats., ceases business operations in the development zone
15during any of the taxable years that that zone exists, that person may not carry over
16to any taxable year following the year during which operations cease any unused
17credits from the taxable year during which operations cease or from previous taxable
18years.
AB40-ASA1, s. 2047 19Section 2047. 71.47 (1ds) (a) 1. of the statutes is amended to read:
AB40-ASA1,838,2120 71.47 (1ds) (a) 1. "Development zone" means a zone designated under s. 560.71,
212009 stats
.
AB40-ASA1, s. 2048 22Section 2048. 71.47 (1ds) (b) of the statutes is amended to read:
AB40-ASA1,839,1123 71.47 (1ds) (b) Except as provided in pars. (dm) and (e) and s. 73.03 (35), for
24any taxable year for which the person is certified under s. 560.765 (3), 2009 stats.,
25for tax benefits, any person may claim as a credit against taxes otherwise due under

1this chapter the taxes paid under subchs. III and V of ch. 77 on their purchases, leases
2and rentals of eligible property. Partnerships, limited liability companies and
3tax-option corporations may not claim the credit under this subsection but the
4eligibility for, and the amount of, that credit shall be determined on the basis of their
5economic activity, not that of their partners, members or shareholders. The
6partnership, limited liability company or corporation shall compute the amount of
7the credit that may be claimed by each of its partners, members or shareholders and
8shall provide that information to each of its partners, members or shareholders.
9Partners, members of limited liability companies and shareholders of tax-option
10corporations may claim the credit based on the partnership's, company's or
11corporation's activities in proportion to their ownership interest.
AB40-ASA1, s. 2049 12Section 2049. 71.47 (1ds) (d) 1. of the statutes is amended to read:
AB40-ASA1,839,1413 71.47 (1ds) (d) 1. A copy of the claimant's certification for tax benefits under
14s. 560.765 (3), 2009 stats.
AB40-ASA1, s. 2050 15Section 2050. 71.47 (1dx) (a) 2. of the statutes is amended to read:
AB40-ASA1,839,2116 71.47 (1dx) (a) 2. "Development zone" means a development zone under s.
17238.30 or s. 560.70, 2009 stats., a development opportunity zone under s. 238.395 or
18s.
560.795, 2009 stats., or an enterprise development zone under s. 238.397 or s.
19560.797, 2009 stats., an agricultural development zone under s. 238.398 or s.
20560.798, 2009 stats., or an airport development zone under s. 238.3995 or s.
21560.7995, 2009 stats.
AB40-ASA1, s. 2052 22Section 2052. 71.47 (1dx) (b) (intro.) of the statutes is amended to read:
AB40-ASA1,840,423 71.47 (1dx) (b) Credit. (intro.) Except as provided in pars. (be) and (bg) and
24in s. 73.03 (35), and subject to s. 238.385 or s. 560.785, 2009 stats., for any taxable
25year for which the person is entitled under s. 238.395 (3) or s. 560.795 (3), 2009 stats.,

1to claim tax benefits or certified under s. 238.365 (3), 238.397 (4), 238.398 (3), or
2238.3995 (4) or s.
560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3),
32009 stats., or s. 560.7995 (4), 2009 stats., any person may claim as a credit against
4the taxes otherwise due under this chapter the following amounts:
AB40-ASA1, s. 2053 5Section 2053. 71.47 (1dx) (b) 2. of the statutes is amended to read:
AB40-ASA1,840,106 71.47 (1dx) (b) 2. The amount determined by multiplying the amount
7determined under s. 238.385 (1) (b) or s. 560.785 (1) (b), 2009 stats., by the number
8of full-time jobs created in a development zone and filled by a member of a targeted
9group and by then subtracting the subsidies paid under s. 49.147 (3) (a) or the
10subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.
AB40-ASA1, s. 2054 11Section 2054. 71.47 (1dx) (b) 3. of the statutes is amended to read:
AB40-ASA1,840,1612 71.47 (1dx) (b) 3. The amount determined by multiplying the amount
13determined under s. 238.385 (1) (c) or s. 560.785 (1) (c), 2009 stats., by the number
14of full-time jobs created in a development zone and not filled by a member of a
15targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) or
16the subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.
AB40-ASA1, s. 2055 17Section 2055. 71.47 (1dx) (b) 4. of the statutes is amended to read:
AB40-ASA1,840,2518 71.47 (1dx) (b) 4. The amount determined by multiplying the amount
19determined under s. 238.385 (1) (bm) or s. 560.785 (1) (bm), 2009 stats., by the
20number of full-time jobs retained, as provided in the rules under s. 238.385 or s.
21560.785, 2009 stats., excluding jobs for which a credit has been claimed under sub.
22(1dj), in an enterprise development zone under s. 238.397 or s. 560.797, 2009 stats.,
23and for which significant capital investment was made and by then subtracting the
24subsidies paid under s. 49.147 (3) (a) or the subsidies and reimbursements paid
25under s. 49.147 (3m) (c) for those jobs.
AB40-ASA1, s. 2056
1Section 2056. 71.47 (1dx) (b) 5. of the statutes is amended to read:
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