AB40: Bill Text

AB40,858,3 71.47 (1dx) (c) Credit precluded. If the certification of a person for tax benefits under s. 238.365 (3), 238.397 (4), 238.398 (3), or 238.3995 (4) or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., is revoked, or if the person becomes ineligible for tax benefits under s. 238.395 (3) or s. 560.795 (3), 2009 stats., that person may not claim credits under this subsection for the taxable year that includes the day on which the certification is revoked; the taxable year that includes the day on which the person becomes ineligible for tax benefits; or succeeding taxable years and that person may not carry over unused credits from previous years to offset tax under this chapter for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the person becomes ineligible for tax benefits; or succeeding taxable years.

AB40, s. 2060 Section 2060. 71.47 (1dx) (d) of the statutes is amended to read:

AB40,858,12 71.47 (1dx) (d) Carry-over precluded. If a person who is entitled under s. 238.395 (3) or s. 560.795 (3), 2009 stats., to claim tax benefits or certified under s. 238.365 (3), 238.397 (4), 238.398 (3), or 238.3995 (4) or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., for tax benefits ceases business operations in the development zone during any of the taxable years that that zone exists, that person may not carry over to any taxable year following the year during which operations cease any unused credits from the taxable year during which operations cease or from previous taxable years.

AB40, s. 2061 Section 2061. 71.47 (1dy) (a) of the statutes is amended to read:

AB40,858,17 71.47 (1dy) (a) Definition. In this subsection, "claimant" means a person who files a claim under this subsection and is certified under s. 238.301 (2) or s. 560.701 (2), 2009 stats., and authorized to claim tax benefits under s. 238.303 or s. 560.703, 2009 stats.

AB40, s. 2062 Section 2062. 71.47 (1dy) (b) of the statutes is amended to read:

AB40,858,23 71.47 (1dy) (b) Filing claims. Subject to the limitations under this subsection and ss. 238.301 to 238.306 or s. 560.701 to 560.706, 2009 stats., for taxable years beginning after December 31, 2008, a claimant may claim as a credit against the tax imposed under s. 71.43, up to the amount of the tax, the amount authorized for the claimant under s. 238.303 or s. 560.703, 2009 stats.

AB40, s. 2063 Section 2063. 71.47 (1dy) (c) 1. of the statutes is amended to read:

AB40,859,4 71.47 (1dy) (c) 1. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification under s. 238.301 (2) or s. 560.701 (2), 2009 stats., and a copy of the claimant's notice of eligibility to receive tax benefits under s. 238.303 (3) or s. 560.703 (3), 2009 stats.

AB40, s. 2064 Section 2064. 71.47 (1dy) (c) 2. of the statutes is amended to read:

AB40,859,14 71.47 (1dy) (c) 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 authorization to claim tax benefits under s. 238.303 or s. 560.703, 2009 stats. 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.

AB40, s. 2065 Section 2065. 71.47 (1dy) (d) 2. of the statutes is amended to read:

AB40,859,25 71.47 (1dy) (d) 2. If a claimant's certification is revoked under s. 238.305 or s. 560.705, 2009 stats., or if a claimant becomes ineligible for tax benefits under s. 238.302 or s. 560.702, 2009 stats., the claimant may not claim credits under this subsection for the taxable year that includes the day on which the certification is revoked; the taxable year that includes the day on which the claimant becomes ineligible for tax benefits; or succeeding taxable years and the claimant may not carry over unused credits from previous years to offset the tax imposed under s. 71.43 for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the claimant becomes ineligible for tax benefits; or succeeding taxable years.

AB40, s. 2066 Section 2066. 71.47 (3g) (a) (intro.) of the statutes is amended to read:

AB40,860,6 71.47 (3g) (a) (intro.) Subject to the limitations under this subsection and ss. 73.03 (35m), and 238.23 and s. 560.96, 2009 stats., a business that is certified under s. 238.23 (3) or s. 560.96 (3), 2009 stats., may claim as a credit against the taxes imposed under s. 71.43 an amount equal to the sum of the following, as established under s. 238.23 (3) (c) or s. 560.96 (3) (c), 2009 stats:

AB40, s. 2067 Section 2067. 71.47 (3g) (b) of the statutes is amended to read:

AB40,860,10 71.47 (3g) (b) The department of revenue shall notify the department of commerce or the Wisconsin Economic Development Corporation of all claims under this subsection.

AB40, s. 2068 Section 2068. 71.47 (3g) (e) 2. of the statutes is amended to read:

AB40,860,15 71.47 (3g) (e) 2. The investments that relate to the amount described under par. (a) 2. for which a claimant makes a claim under this subsection must be retained for use in the technology zone for the period during which the claimant's business is certified under s. 238.23 (3) or s. 560.96 (3), 2009 stats.

AB40, s. 2069 Section 2069. 71.47 (3g) (f) 1. of the statutes is amended to read:

AB40,860,20 71.47 (3g) (f) 1. A copy of a the verification from the department of commerce that the claimant's business is certified under s. 238.23 (3) or s. 560.96 (3), 2009 stats., and that the business and the department of commerce have has entered into an agreement under s. 238.23 (3) (d) or s. 560.96 (3) (d), 2009 stats.

AB40, s. 2070 Section 2070. 71.47 (3g) (f) 2. of the statutes is amended to read:

AB40,860,25 71.47 (3g) (f) 2. A statement from the department of commerce or the Wisconsin Economic Development Corporation verifying the purchase price of the investment described under par. (a) 2. and verifying that the investment fulfills the requirement under par. (e) 2.

AB40, s. 2071 Section 2071. 71.47 (3p) (b) of the statutes is amended to read:

AB40,861,8 71.47 (3p) (b) Filing claims. Subject to the limitations provided in this subsection and s. 93.535 or s. 560.207, 2009 stats., except as provided in par. (c) 5., for taxable years beginning after December 31, 2006, and before January 1, 2015, a claimant may claim as a credit against the taxes imposed under s. 71.43, up to the amount of the tax, an amount equal to 10 percent of the amount the claimant paid in the taxable year for dairy manufacturing modernization or expansion related to the claimant's dairy manufacturing operation.

AB40, s. 2072 Section 2072. 71.47 (3p) (c) 2m. a. of the statutes is amended to read:

AB40,861,12 71.47 (3p) (c) 2m. a. The maximum amount of the credits that may be claimed under this subsection and ss. 71.07 (3p) and 71.28 (3p) in fiscal year 2007-08 is $600,000, as allocated under s. 560.207, 2009 stats.

AB40, s. 2073 Section 2073. 71.47 (3p) (c) 2m. b. of the statutes is amended to read:

AB40,861,17 71.47 (3p) (c) 2m. b. The maximum amount of the credits that may be claimed by all claimants, other than members of dairy cooperatives, under this subsection and ss. 71.07 (3p) and 71.28 (3p) in fiscal year 2008-09, and in each fiscal year thereafter, is $700,000, as allocated under s. 93.535 or s. 560.207, 2009 stats.

AB40, s. 2074 Section 2074. 71.47 (3p) (c) 2m. bm. of the statutes is amended to read:

AB40,861,25 71.47 (3p) (c) 2m. bm. The maximum amount of the credits that may be claimed by members of dairy cooperatives under this subsection and ss. 71.07 (3p) and 71.28 (3p) in fiscal year 2009-10 is $600,000, as allocated under s. 560.207, 2009 stats., and the maximum amount of the credits that may be claimed by members of dairy cooperatives under this subsection and ss. 71.07 (3p) and 71.28 (3p) in fiscal year 2010-11, and in each fiscal year thereafter, is $700,000, as allocated under s. 93.535 or s. 560.207, 2009 stats.

AB40, s. 2075 Section 2075. 71.47 (3p) (c) 3. of the statutes is amended to read:

AB40,862,14 71.47 (3p) (c) 3. Partnerships, limited liability companies, tax-option corporations, and dairy cooperatives may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of expenses under par. (b), except that the aggregate amount of credits that the entity a dairy cooperative may compute shall not exceed $200,000 for each of the entity's cooperative's dairy manufacturing facilities. A partnership, limited liability company, tax-option corporation, or dairy cooperative 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 interest. Members of a dairy cooperative may claim the credit in proportion to the amount of milk that each member delivers to the dairy cooperative, as determined by the dairy cooperative.

AB40, s. 2076 Section 2076. 71.47 (3p) (c) 6. of the statutes is amended to read:

AB40,862,18 71.47 (3p) (c) 6. No credit may be allowed under this subsection unless the claimant submits with the claimant's return a copy of the claimant's credit certification and allocation under s. 93.535 or s. 560.207, 2009 stats.

AB40, s. 2077 Section 2077. 71.47 (3q) (a) 1. of the statutes is amended to read:

AB40,862,21 71.47 (3q) (a) 1. "Claimant" means a person certified to receive tax benefits under s. 238.16 (2) or s. 560.2055 (2), 2009 stats.

AB40, s. 2078 Section 2078. 71.47 (3q) (a) 2. of the statutes is amended to read:

AB40,863,2 71.47 (3q) (a) 2. "Eligible employee" means, for taxable years beginning before January 1, 2011, an eligible employee under s. 560.2055 (1) (b) , 2009 stats., who satisfies the wage requirements under s. 560.2055 (3) (a) or (b), 2009 stats., or, for taxable years beginning after December 31, 2010, and eligible employee under s. 238.16 (1) (b).

AB40, s. 2079 Section 2079. 71.47 (3q) (b) (intro.) of the statutes is amended to read:

AB40,863,7 71.47 (3q) (b) Filing claims. (intro.) Subject to the limitations provided in this subsection and s. 238.16 or s. 560.2055, 2009 stats., for taxable years beginning after December 31, 2009, a claimant may claim as a credit against the taxes imposed under s. 71.43 any of the following:

AB40, s. 2080 Section 2080. 71.47 (3q) (b) 1. of the statutes is amended to read:

AB40,863,11 71.47 (3q) (b) 1. The amount of wages that the claimant paid to an eligible employee in the taxable year, not to exceed 10 percent of such wages, as determined by the department of commerce under s. 238.16 or s. 560.2055, 2009 stats.

AB40, s. 2081 Section 2081. 71.47 (3q) (b) 2. of the statutes is amended to read:

AB40,863,15 71.47 (3q) (b) 2. The amount of the costs incurred by the claimant in the taxable year, as determined under s. 238.16 or s. 560.2055, 2009 stats., to undertake the training activities described under s. 238.16 (3) (c) or s. 560.2055 (3) (c), 2009 stats.

AB40, s. 2082 Section 2082. 71.47 (3q) (c) 2. of the statutes is amended to read:

AB40,863,19 71.47 (3q) (c) 2. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification for tax benefits under s. 238.16 (2) or s. 560.2055 (2) , 2009 stats.

AB40, s. 2083 Section 2083. 71.47 (3q) (c) 3. of the statutes is amended to read:

AB40,863,24 71.47 (3q) (c) 3. The maximum amount of credits that may be awarded under this subsection and ss. 71.07 (3q) and 71.28 (3q) for the period beginning on January 1, 2010, and ending on June 30, 2013, is $14,500,000, not including the amount of any credits reallocated under s. 238.15 (3) (d) or s. 560.205 (3) (d), 2009 stats.

AB40, s. 2084 Section 2084. 71.47 (3r) (b) of the statutes is amended to read:

AB40,864,7 71.47 (3r) (b) Filing claims. Subject to the limitations provided in this subsection and s. 238.19 or s. 560.208, 2009 stats., for taxable years beginning after December 31, 2008, and before January 1, 2017, a claimant may claim as a credit against the taxes imposed under s. 71.43, up to the amount of the tax, an amount equal to 10 percent of the amount the claimant paid in the taxable year for meat processing modernization or expansion related to the claimant's meat processing operation.

AB40, s. 2085 Section 2085. 71.47 (3r) (c) 3. a. of the statutes is amended to read:

AB40,864,11 71.47 (3r) (c) 3. a. The maximum amount of the credits that may be allocated under this subsection and ss. 71.07 (3r) and 71.28 (3r) in fiscal year 2009-10 is $300,000, as allocated under s. 560.208, 2009 stats.

AB40, s. 2086 Section 2086. 71.47 (3r) (c) 3. b. of the statutes is amended to read:

AB40,864,16 71.47 (3r) (c) 3. b. The maximum amount of the credits that may be allocated under this subsection and ss. 71.07 (3r) and 71.28 (3r) in fiscal year 2010-11, and in each fiscal year thereafter, is $700,000, as allocated under s. 238.19 or s. 560.208, 2009 stats.

AB40, s. 2087 Section 2087. 71.47 (3r) (c) 6. of the statutes is amended to read:

AB40,864,20 71.47 (3r) (c) 6. No credit may be allowed under this subsection unless the claimant submits with the claimant's return a copy of the claimant's credit certification and allocation under s. 238.19 or s. 560.208, 2009 stats.

AB40, s. 2088 Section 2088. 71.47 (3rm) (b) of the statutes is amended to read:

AB40,865,3 71.47 (3rm) (b) Filing claims. Subject to the limitations provided in this subsection and s. 238.21 or s. 560.209, 2009 stats., for taxable years beginning after December 31, 2009, and before January 1, 2016, a claimant may claim as a credit against the taxes imposed under s. 71.43, up to the amount of the tax, an amount equal to 10 percent of the amount the claimant paid in the taxable year for equipment that is used primarily to harvest or process woody biomass that is used as fuel or as a component of fuel.

AB40, s. 2089 Section 2089. 71.47 (3rm) (c) 3. of the statutes is amended to read:

AB40,865,7 71.47 (3rm) (c) 3. The maximum amount of the credits that may be claimed under this subsection and ss. 71.07 (3rm) and 71.28 (3rm) is $900,000, as allocated under s. 238.21 or s. 560.209, 2009 stats.

AB40, s. 2090 Section 2090. 71.47 (3rn) (b) of the statutes is amended to read:

AB40,865,15 71.47 (3rn) (b) Filing claims. Subject to the limitations provided in this subsection and s. 238.17 or s. 506.2056 560.2056, 2009 stats., for taxable years beginning after December 31, 2009, and before January 1, 2017, a claimant may claim as a credit against the tax imposed under s. 71.43, up to the amount of the tax, an amount equal to 10 percent of the amount the claimant paid in the taxable year for food processing or food warehousing modernization or expansion related to the operation of the claimant's food processing plant or food warehouse.

AB40, s. 2091 Section 2091. 71.47 (3rn) (c) 3. a. of the statutes is amended to read:

AB40,865,19 71.47 (3rn) (c) 3. a. The maximum amount of the credits that may be allocated under this subsection and ss. 71.07 (3rn) and 71.28 (3rn) in fiscal year 2009-10 is $1,000,000, as allocated under s. 560.2056, 2009 stats.

AB40, s. 2092 Section 2092. 71.47 (3rn) (c) 3. b. of the statutes is amended to read:

AB40,865,23 71.47 (3rn) (c) 3. b. The maximum amount of the credits that may be allocated under this subsection and ss. 71.07 (3rn) and 71.28 (3rn) in fiscal year 2010-11 is $1,200,000, as allocated under s. 560.2056, 2009 stats.

AB40, s. 2093 Section 2093. 71.47 (3rn) (c) 3. c. of the statutes is amended to read:

AB40,866,4 71.47 (3rn) (c) 3. c. The maximum amount of the credits that may be allocated under this subsection and ss. 71.07 (3rn) and 71.28 (3rn) in fiscal year 2011-12, and in each year thereafter, is $700,000, as allocated under s. 238.17 or s. 560.2056, 2009 stats.

AB40, s. 2094 Section 2094. 71.47 (3rn) (c) 6. of the statutes is amended to read:

AB40,866,8 71.47 (3rn) (c) 6. No credit may be allowed under this subsection unless the claimant submits with the claimant's return a copy of the claimant's credit certification and allocation under s. 238.17 or s. 560.2056, 2009 stats.

AB40, s. 2095 Section 2095. 71.47 (3t) (b) of the statutes is amended to read:

AB40,866,15 71.47 (3t) (b) Credit. Subject to the limitations provided in this subsection and in s. 560.28, 2009 stats., for taxable years beginning after December 31, 2007, a claimant may claim as a credit, amortized over 15 taxable years starting with the taxable year beginning after December 31, 2007, against the tax imposed under s. 71.43, up to the amount of the tax, an amount equal to the claimant's unused credits under s. 71.47 (3).

AB40, s. 2096 Section 2096. 71.47 (3t) (c) 1. of the statutes is amended to read:

AB40,866,23 71.47 (3t) (c) 1. No credit may be claimed under this subsection unless the claimant submits with the claimant's return a copy of the claimant's certification by the department of commerce under s. 560.28, 2009 stats., except that, with regard to credits claimed by partners of a partnership, members of a limited liability company, or shareholders of a tax-option corporation, the entity shall provide a copy of its certification under s. 560.28, 2009 stats., to the partner, member, or shareholder to submit with his or her return.

AB40, s. 2097 Section 2097. 71.47 (3w) (a) 2. of the statutes is amended to read:

AB40,867,3 71.47 (3w) (a) 2. "Claimant" means a person who is certified to claim tax benefits under s. 238.399 (5) or s. 560.799 (5), 2009 stats., and who files a claim under this subsection.

AB40, s. 2098 Section 2098. 71.47 (3w) (a) 3. of the statutes is amended to read:

AB40,867,6 71.47 (3w) (a) 3. "Full-time employee" means a full-time employee, as defined in s. 238.399 (1) (am) or s. 560.799 (1) (am), 2009 stats.

AB40, s. 2099 Section 2099. 71.47 (3w) (a) 4. of the statutes is amended to read:

AB40,867,9 71.47 (3w) (a) 4. "Enterprise zone" means a zone designated under s. 238.399 or s. 560.799, 2009 stats.

AB40, s. 2100 Section 2100. 71.47 (3w) (a) 5d. of the statutes is amended to read:

AB40,867,13 71.47 (3w) (a) 5d. "Tier I county or municipality" means a tier I county or municipality, as determined by the department of commerce under s. 238.399 or s. 560.799, 2009 stats.

AB40, s. 2101 Section 2101. 71.47 (3w) (a) 5e. of the statutes is amended to read:

AB40,867,17 71.47 (3w) (a) 5e. "Tier II county or municipality" means a tier II county or municipality, as determined by the department of commerce under s. 238.399 or s. 560.799, 2009 stats.

AB40, s. 2102 Section 2102. 71.47 (3w) (b) (intro.) of the statutes is amended to read:

AB40,867,22 71.47 (3w) (b) Filing claims; payroll. (intro.) Subject to the limitations provided in this subsection and s. 238.399 or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.43 an amount calculated as follows:

AB40, s. 2103 Section 2103. 71.47 (3w) (b) 5. of the statutes is amended to read:

AB40,868,3 71.47 (3w) (b) 5. Multiply the amount determined under subd. 4. by the percentage determined by the department of commerce under s. 238.399 or s. 560.799, 2009 stats., not to exceed 7 percent.