LRB-3298/1
JK:jld:rs
2011 - 2012 LEGISLATURE
November 1, 2011 - Introduced by Representatives Tranel, Ripp, Nerison, A. Ott,
Tauchen, Brooks, Spanbauer, Kerkman, Kestell, Marklein, Endsley,
Jorgensen and Radcliffe, cosponsored by Senators Harsdorf, Schultz,
Olsen, Moulton and
Lasee. Referred to Committee on Agriculture.
AB357,1,3
1An Act to amend 71.07 (3p) (c) 5., 71.28 (3p) (c) 5. and 71.47 (3p) (c) 5. of the
2statutes;
relating to: allowing members of a dairy cooperative to claim the
3dairy manufacturing facility investment credit in the next taxable year.
Analysis by the Legislative Reference Bureau
Under current law, a member of a dairy cooperative may claim the dairy
manufacturing facility investment income tax credit based on amounts paid in the
taxable year by the cooperative to modernize or expand its dairy operation. The dairy
cooperative member claims an amount that is in proportion to the amount of milk
that the member delivers to the cooperative. The cooperative member claims the
credit for the taxable year in which the dairy cooperative pays amounts to modernize
or expand its dairy operation.
This bill allows the member of a dairy cooperative to claim the dairy
manufacturing facility investment credit in either the taxable year in which the
dairy cooperative makes the eligible expenditures or in the next taxable year.
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:
AB357, s. 1
4Section
1. 71.07 (3p) (c) 5. of the statutes is amended to read:
AB357,2,6
171.07
(3p) (c) 5. A claimant who is a member of a dairy cooperative may claim
2the credit, based on amounts described under par. (b) that are paid by the dairy
3cooperative, for taxable years beginning after December 31, 2008, and before
4January 1, 2017
, except that a claimant who is a member of a dairy cooperative may
5claim the credit in either the taxable year in which the amounts described under par.
6(b) are paid or in the succeeding taxable year.
AB357, s. 2
7Section
2. 71.28 (3p) (c) 5. of the statutes is amended to read:
AB357,2,138
71.28
(3p) (c) 5. A claimant who is a member of a dairy cooperative may claim
9the credit, based on amounts described under par. (b) that are paid by the dairy
10cooperative, for taxable years beginning after December 31, 2008, and before
11January 1, 2017
, except that a claimant who is a member of a dairy cooperative may
12claim the credit in either the taxable year in which the amounts described under par.
13(b) are paid or in the succeeding taxable year.
AB357, s. 3
14Section
3. 71.47 (3p) (c) 5. of the statutes is amended to read:
AB357,2,2015
71.47
(3p) (c) 5. A claimant who is a member of a dairy cooperative may claim
16the credit, based on amounts described under par. (b) that are paid by the dairy
17cooperative, for taxable years beginning after December 31, 2008, and before
18January 1, 2017
, except that a claimant who is a member of a dairy cooperative may
19claim the credit in either the taxable year in which the amounts described under par.
20(b) are paid or in the succeeding taxable year.
