AB697: Bill Text

AB697,15 Section 15. 39.41 (1m) (j) of the statutes is amended to read:

AB697,7,23 39.41 (1m) (j) In the event that If 2 or more seniors from the same high school of at least 80 300 pupils have the same grade point average and are otherwise eligible for designation under par. (a), the school board of the school district operating the high school or the governing body of the private or tribal high school shall make the designation of the faculty of the high school for purposes of par. (d) or (i).

AB697,16 Section 16. 39.41 (2) (a) of the statutes is amended to read:

AB697,8,10 39.41 (2) (a) If a designated scholar under sub. (1m) is admitted to and enrolls, on a full-time basis, by September 30 of the academic year immediately following the school year in which the senior was designated a scholar, in an institution within the University of Wisconsin System or in a technical college district school that is participating in the program under this section, the scholar shall receive a higher education scholarship that exempts the scholar from 50 percent of all tuition and fees, including segregated fees, at the institution or district school for one year, except that the maximum scholarship for a scholar who receives an original scholarship for the 1996-97 academic year or for any academic year thereafter may not exceed $2,250 per academic year.

AB697,17 Section 17. 39.41 (2) (b) of the statutes is amended to read:

AB697,8,23 39.41 (2) (b) For each year that a scholar who receives a scholarship under par. (a) is enrolled full time, maintains at least a 3.000 grade point average, or the equivalent as determined by the institution or district school, and makes satisfactory progress toward an associate degree, a bachelor's degree, or a vocational diploma, the student scholar shall be exempt from 50 percent of all tuition and fees, including segregated fees, in the subsequent year or, if the scholar does not enroll in a participating institution of higher education in the subsequent year, in the 2nd year following the year in which the scholar received the scholarship, except that the maximum scholarship for a scholar who receives an original scholarship for the 1996-97 academic year or for any academic year thereafter may not exceed $2,250 per academic year. No scholar is eligible for an exemption for more than 4 years in the University of Wisconsin System or more than 3 years at a district school.

AB697,18 Section 18. 39.41 (2) (c) of the statutes is amended to read:

AB697,9,6 39.41 (2) (c) Subject to sub. (4), for each year the student that a scholar is exempt from tuition and fees under par. (a) or (b), the board shall pay the institution or district school, on behalf of the student scholar, an amount equal to 50% 25 percent of the student's scholar's tuition and fees, except that the maximum payment for a student who receives an original scholarship for the 1996-97 academic year or for any academic year thereafter may not exceed $1,125 per academic year.

AB697,19 Section 19. 39.41 (3) (a) of the statutes is amended to read:

AB697,9,17 39.41 (3) (a) If a designated scholar under sub. (1m) is admitted to and enrolls, on a full-time basis, by September 30 of the academic year immediately following the school year in which the senior was designated a scholar, in a private institution of higher education that is located in this state and participating in the program under this section, the board shall pay the institution, on behalf of the pupil scholar, an amount equal to 50% 25 percent of the tuition and fees charged a resident undergraduate at the University of Wisconsin-Madison in the same academic year, except that the maximum payment for a pupil who receives an original scholarship for the 1996-97 academic year or for any academic year thereafter may not exceed $1,125 per academic year.

AB697,20 Section 20. 39.41 (3) (b) of the statutes is amended to read:

AB697,9,25 39.41 (3) (b) For each year that a scholar who receives a scholarship under par. (a) is enrolled full time, maintains at least a 3.000 grade point average, or the equivalent as determined by the private institution, and makes satisfactory progress toward a bachelor's degree, the student scholar is eligible for a higher education scholarship as determined under par. (a) in the subsequent year or, if the scholar does not enroll in a participating institution of higher education in the subsequent year, in the 2nd year following the year in which the scholar received the scholarship. No scholar is eligible for a higher education scholarship for more than 4 years at a private institution of higher education.

AB697,21 Section 21. 39.41 (3m) of the statutes is created to read:

AB697,10,7 39.41 (3m) (a) In addition to receiving a scholarship under sub. (2), if the scholar graduates from an institution within the University of Wisconsin System or a technical college district school with a bachelor's degree, an associate degree, or vocational diploma, the scholar may claim the credit under s. 71.07 (5p).

AB697,10,11 (b) In addition to receiving a scholarship under sub. (3), if the scholar graduates from a private institution of higher education located in this state with a bachelor's degree, an associate degree, or vocational diploma, the scholar may claim the credit under s. 71.07 (5p).

AB697,22 Section 22. 71.07 (5p) of the statutes is created to read:

AB697,10,14 71.07 (5p) Academic scholarship tax credit. (a) Definitions. In this subsection:

AB697,10,18 1. "Claimant" means an individual who files a claim under this subsection, who has received a scholarship under s. 39.41 (2) or (3), and who has graduated from the institution or school with regard to which he or she received the scholarship, as described in s. 39.41 (3m) (a) or (b).

AB697,11,2 2. "Eligible amount" means 50 percent of all tuition and fees, including segregated fees, that would have been charged to a single full-time student by the institution or school attended by an individual who received a higher education scholarship under s. 39.41 (2) for the years in which the individual received the scholarship under that subsection, or 50 percent of all tuition and fees charged a single full-time resident undergraduate at the University of Wisconsin-Madison for the years in which an individual who received a scholarship under s. 39.41 (3) attended a private institution of higher education located in this state for the years in which the individual received the scholarship under that subsection.

AB697,11,8 (b) Filing claims. Subject to the conditions and 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, one-fifth of an eligible amount in the taxable year which immediately follows the year in which the individual graduates, as described in s. 39.41 (3m) (a) or (b), and an additional one-fifth of an eligible amount in each of the next 4 successive taxable years.

AB697,11,12 (c) Conditions and limitations. 1. No individual may file a claim under this subsection unless he or she submits to the department with his or her tax return, on a form prepared by the department, information regarding the calculation of that individual's eligible amount.

AB697,11,16 2. No individual may file a claim under this subsection unless he or she was a full-year resident of this state in the year to which the claim relates, and the majority of the wages he or she earned during the year to which the claim relates were earned in this state.

AB697,11,18 3. No credit may be allowed under this subsection unless it is claimed within the period specified under s. 71.75 (2).

AB697,11,23 4. No individual may file a claim under this subsection for any taxable year other than the taxable year that begins immediately after the taxable year in which the claimant graduates from the institution or school with regard to which he or she received the scholarship, as described in s. 39.41 (3m) (a) or (b), and the next 4 successive taxable years.

AB697,11,25 (d) Administration. Subsection (5m) (d), as it applies to the credit under that subsection, applies to the credit under this subsection.

AB697,23 Section 23. 71.10 (4) (cs) of the statutes is created to read:

AB697,12,2 71.10 (4) (cs) Academic scholarship tax credit under s. 71.07 (5p).

AB697,24 Section 24. Initial applicability.

AB697,12,9 (1) Academic excellence higher education scholarships. The treatment of section 39.41 (1m) (a) 1., 2., 3., 4., 5., and 6., (b), (c) 3. and 4., (d), (e), (g), (h), (i), and (j), (2) (a), (b), and (c), (3) (a) and (b), and (3m) of the statutes first applies to students who enroll in an institution within the University of Wisconsin System, a technical college district school, or a private institution of higher education in the 2015-16 academic year.

AB697,12,11 (2) Academic scholarship tax credit. The treatment of section 71.07 (5p) first applies to taxable years beginning after December 31, 2016.

AB697,12,12 (End)