SB148,193 14Section 193. 71.28 (1dx) (a) 4. of the statutes is amended to read:
SB148,65,1615 71.28 (1dx) (a) 4. "Full-time job" has the meaning given in s. 238.30 235.30
16(2m).
SB148,194 17Section 194. 71.28 (1dx) (b) (intro.) of the statutes is amended to read:
SB148,66,218 71.28 (1dx) (b) Credit. (intro.) Except as provided in pars. (be) and (bg) and
19in s. 73.03 (35), and subject to s. 235.385 or s. 238.385, 2013 stats., or s. 560.785, 2009
20stats., for any taxable year for which the person is entitled under s. 235.395 (3) or s.
21238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., to claim tax benefits or certified
22under s. 235.365 (3), 235.397 (4), 235.398 (3), or 235.3995 (4) or s. 238.365 (3), 2013
23stats., s.
238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013
24stats.,
or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009

1stats., or s. 560.7995 (4), 2009 stats., any person may claim as a credit against the
2taxes otherwise due under this chapter the following amounts:
SB148,195 3Section 195. 71.28 (1dx) (b) 2. of the statutes is amended to read:
SB148,66,84 71.28 (1dx) (b) 2. The amount determined by multiplying the amount
5determined under s. 235.385 (1) (b) or s. 238.385 (1) (b), 2013 stats., or s. 560.785 (1)
6(b), 2009 stats., by the number of full-time jobs created in a development zone and
7filled by a member of a targeted group and by then subtracting the subsidies paid
8under s. 49.147 (3) (a) for those jobs.
SB148,196 9Section 196. 71.28 (1dx) (b) 3. of the statutes is amended to read:
SB148,66,1410 71.28 (1dx) (b) 3. The amount determined by multiplying the amount
11determined under s. 235.385 (1) (c) or s. 238.385 (1) (c), 2013 stats., or s. 560.785 (1)
12(c), 2009 stats., by the number of full-time jobs created in a development zone and
13not filled by a member of a targeted group and by then subtracting the subsidies paid
14under s. 49.147 (3) (a) for those jobs.
SB148,197 15Section 197. 71.28 (1dx) (b) 4. of the statutes is amended to read:
SB148,66,2316 71.28 (1dx) (b) 4. The amount determined by multiplying the amount
17determined under s. 235.385 (1) (bm) or s. 238.385 (1) (bm), 2013 stats., or s. 560.785
18(1) (bm), 2009 stats., by the number of full-time jobs retained, as provided in the
19rules
under s. 235.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., excluding
20jobs for which a credit has been claimed under sub. (1dj), in an enterprise
21development zone under s. 235.397 or s. 238.397, 2013 stats., or s. 560.797, 2009
22stats., and for which significant capital investment was made and by then
23subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.
SB148,198 24Section 198. 71.28 (1dx) (b) 5. of the statutes is amended to read:
SB148,67,7
171.28 (1dx) (b) 5. The amount determined by multiplying the amount
2determined under s. 235.385 (1) (c) or s. 238.385 (1) (c), 2013 stats., or s. 560.785 (1)
3(c), 2009 stats., by the number of full-time jobs retained, as provided in the rules
4under s. 235.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., excluding jobs
5for which a credit has been claimed under sub. (1dj), in a development zone and not
6filled by a member of a targeted group and by then subtracting the subsidies paid
7under s. 49.147 (3) (a) for those jobs.
SB148,199 8Section 199. 71.28 (1dx) (be) of the statutes is amended to read:
SB148,67,149 71.28 (1dx) (be) Offset. A claimant in a development zone under s. 235.395 (1)
10(e) or
s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., may offset any
11credits claimed under this subsection, including any credits carried over, against the
12amount of the tax otherwise due under this subchapter attributable to all of the
13claimant's income and against the tax attributable to income from directly related
14business operations of the claimant.
SB148,200 15Section 200. 71.28 (1dx) (bg) of the statutes is amended to read:
SB148,68,216 71.28 (1dx) (bg) Other entities. For claimants in a development zone under s.
17235.395 (1) (e) or
s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats.,
18partnerships, limited liability companies, and tax-option corporations may not
19claim the credit under this subsection, but the eligibility for, and amount of, that
20credit shall be determined on the basis of their economic activity, not that of their
21shareholders, partners, or members. The corporation, partnership, or company shall
22compute the amount of the credit that may be claimed by each of its shareholders,
23partners, or members and shall provide that information to each of its shareholders,
24partners, or members. Partners, members of limited liability companies, and
25shareholders of tax-option corporations may claim the credit based on the

1partnership's, company's, or corporation's activities in proportion to their ownership
2interest and may offset it against the tax attributable to their income.
SB148,201 3Section 201. 71.28 (1dx) (c) of the statutes is amended to read:
SB148,68,164 71.28 (1dx) (c) Credit precluded. If the certification of a person for tax benefits
5under s. 235.365 (3), 235.397 (4), 235.398 (3), or 235.3995 (4) or s. 238.365 (3), 2013
6stats., s.
238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013
7stats.,
or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009
8stats., or s. 560.7995 (4), 2009 stats., is revoked, or if the person becomes ineligible
9for tax benefits under s. 235.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3),
102009 stats., that person may not claim credits under this subsection for the taxable
11year that includes the day on which the certification is revoked; the taxable year that
12includes the day on which the person becomes ineligible for tax benefits; or
13succeeding taxable years and that person may not carry over unused credits from
14previous years to offset tax under this chapter for the taxable year that includes the
15day on which certification is revoked; the taxable year that includes the day on which
16the person becomes ineligible for tax benefits; or succeeding taxable years.
SB148,202 17Section 202. 71.28 (1dx) (d) of the statutes is amended to read:
SB148,69,218 71.28 (1dx) (d) Carry-over precluded. If a person who is entitled under s.
19235.395 (3) or
s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., to claim tax
20benefits or certified under s. 235.365 (3), 235.397 (4), 235.398 (3), or 235.3995 (4) or
21s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or
22s. 238.3995 (4), 2013 stats., or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats.,
23s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., for tax benefits ceases
24business operations in the development zone during any of the taxable years that
25that zone exists, that person may not carry over to any taxable year following the

1year during which operations cease any unused credits from the taxable year during
2which operations cease or from previous taxable years.
SB148,203 3Section 203. 71.28 (1dy) (a) of the statutes is amended to read:
SB148,69,74 71.28 (1dy) (a) Definition. In this subsection, "claimant" means a person who
5files a claim under this subsection and is certified under s. 235.301 (2) or s. 238.301
6(2), 2013 stats., or s. 560.701 (2), 2009 stats., and authorized to claim tax benefits
7under s. 235.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats.
SB148,204 8Section 204. 71.28 (1dy) (b) of the statutes is amended to read:
SB148,69,149 71.28 (1dy) (b) Filing claims. Subject to the limitations under this subsection
10and ss. 235.301 to 235.306 or ss. 238.301 to 238.306 , 2013 stats., or s. ss. 560.701 to
11560.706, 2009 stats., for taxable years beginning after December 31, 2008, a claimant
12may claim as a credit against the tax imposed under s. 71.23, up to the amount of the
13tax, the amount authorized for the claimant under s. 235.303 or s. 238.303, 2013
14stats.,
or s. 560.703, 2009 stats.
SB148,205 15Section 205. 71.28 (1dy) (c) 1. of the statutes is amended to read:
SB148,69,2016 71.28 (1dy) (c) 1. No credit may be allowed under this subsection unless the
17claimant includes with the claimant's return a copy of the claimant's certification
18under s. 235.301 (2) or s. 238.301 (2), 2013 stats., or s. 560.701 (2), 2009 stats., and
19a copy of the claimant's notice of eligibility to receive tax benefits under s. 235.303
20(3) or
s. 238.303 (3), 2013 stats., or s. 560.703 (3), 2009 stats.
SB148,206 21Section 206. 71.28 (1dy) (c) 2. of the statutes is amended to read:
SB148,70,522 71.28 (1dy) (c) 2. Partnerships, limited liability companies, and tax-option
23corporations may not claim the credit under this subsection, but the eligibility for,
24and the amount of, the credit are based on their authorization to claim tax benefits
25under s. 235.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats. A partnership,

1limited liability company, or tax-option corporation shall compute the amount of
2credit that each of its partners, members, or shareholders may claim and shall
3provide that information to each of them. Partners, members of limited liability
4companies, and shareholders of tax-option corporations may claim the credit in
5proportion to their ownership interests.
SB148,207 6Section 207. 71.28 (1dy) (d) 2. of the statutes is amended to read:
SB148,70,167 71.28 (1dy) (d) 2. If a claimant's certification is revoked under s. 235.305 or s.
8238.305, 2013 stats., or s. 560.705, 2009 stats., or if a claimant becomes ineligible for
9tax benefits under s. 235.302 or s. 238.302, 2013 stats., or s. 560.702, 2009 stats., the
10claimant may not claim credits under this subsection for the taxable year that
11includes the day on which the certification is revoked; the taxable year that includes
12the day on which the claimant becomes ineligible for tax benefits; or succeeding
13taxable years and the claimant may not carry over unused credits from previous
14years to offset the tax imposed under s. 71.23 for the taxable year that includes the
15day on which certification is revoked; the taxable year that includes the day on which
16the claimant becomes ineligible for tax benefits; or succeeding taxable years.
SB148,208 17Section 208. 71.28 (3g) (a) (intro.) of the statutes is amended to read:
SB148,70,2318 71.28 (3g) (a) (intro.) Subject to the limitations under this subsection and ss.
1973.03 (35m) and 235.23 and s. 238.23, 2013 stats., and s. 560.96, 2009 stats., a
20business that is certified under s. 235.23 (3) or s. 238.23 (3), 2013 stats., or s. 560.96
21(3), 2009 stats., may claim as a credit against the taxes imposed under s. 71.23 an
22amount equal to the sum of the following, as established under s. 235.23 (3) (c) or s.
23238.23 (3) (c), 2013 stats., or s. 560.96 (3) (c), 2009 stats.:
SB148,209 24Section 209. 71.28 (3g) (b) of the statutes is amended to read:
SB148,71,3
171.28 (3g) (b) The department of revenue shall notify the department of
2commerce or the Wisconsin Economic Development Corporation
Forward Wisconsin
3Development Authority
of all claims under this subsection.
SB148,210 4Section 210. 71.28 (3g) (e) 2. of the statutes is amended to read:
SB148,71,85 71.28 (3g) (e) 2. The investments that relate to the amount described under par.
6(a) 2. for which a claimant makes a claim under this subsection must be retained for
7use in the technology zone for the period during which the claimant's business is
8certified under s. 235.23 (3) or s. 238.23 (3), 2013 stats., or s. 560.96 (3), 2009 stats.
SB148,211 9Section 211. 71.28 (3g) (f) 1. of the statutes is amended to read:
SB148,71,1310 71.28 (3g) (f) 1. A copy of the verification that the claimant's business is
11certified under s. 235.23 (3) or s. 238.23 (3), 2013 stats., or s. 560.96 (3), 2009 stats.,
12and that the business has entered into an agreement under s. 235.23 (3) (d) or s.
13238.23 (3) (d), 2013 stats., or s. 560.96 (3) (d), 2009 stats.
SB148,212 14Section 212. 71.28 (3g) (f) 2. of the statutes is amended to read:
SB148,71,1815 71.28 (3g) (f) 2. A statement from the department of commerce or the Wisconsin
16Economic Development Corporation or the Forward Wisconsin Development
17Authority
verifying the purchase price of the investment described under par. (a) 2.
18and verifying that the investment fulfills the requirement under par. (e) 2.
SB148,213 19Section 213. 71.28 (3q) (a) 1. of the statutes is amended to read:
SB148,71,2120 71.28 (3q) (a) 1. "Claimant" means a person certified to receive tax benefits
21under s. 235.16 (2) or s. 238.16 (2), 2013 stats., or s. 560.2055 (2), 2009 stats.
SB148,214 22Section 214. 71.28 (3q) (a) 2. of the statutes is amended to read:
SB148,72,323 71.28 (3q) (a) 2. "Eligible employee" means, for taxable years beginning before
24January 1, 2011, an eligible employee under s. 560.2055 (1) (b), 2009 stats., who
25satisfies the wage requirements under s. 560.2055 (3) (a) or (b), 2009 stats., or, for

1taxable years beginning after December 31, 2010, an eligible employee under s.
2235.16 (1) (b) or
s. 238.16 (1) (b), 2013 stats., who satisfies the wage requirements
3under s. 235.16 (3) (a) or (b) or s. 238.16 (3) (a) or (b), 2013 stats.
SB148,215 4Section 215. 71.28 (3q) (b) of the statutes is amended to read:
SB148,72,85 71.28 (3q) (b) Filing claims. Subject to the limitations provided in this
6subsection and s. 235.16 or s. 238.16, 2013 stats., or s. 560.2055, 2009 stats., for
7taxable years beginning after December 31, 2009, a claimant may claim as a credit
8against the taxes imposed under s. 71.23 any of the following:
SB148,72,119 1. The amount of wages that the claimant paid to an eligible employee in the
10taxable year, not to exceed 10 percent of such wages, as determined under s. 235.16
11or
s. 238.16, 2013 stats., or s. 560.2055, 2009 stats.
SB148,72,1512 2. The amount of the costs incurred by the claimant in the taxable year, as
13determined under s. 235.16 or s. 238.16, 2013 stats., or s. 560.2055, 2009 stats., to
14undertake the training activities described under s. 235.16 (3) (c) or s. 238.16 (3) (c),
152013 stats.,
or s. 560.2055 (3) (c), 2009 stats.
SB148,216 16Section 216. 71.28 (3q) (c) 2. of the statutes is amended to read:
SB148,72,2017 71.28 (3q) (c) 2. No credit may be allowed under this subsection unless the
18claimant includes with the claimant's return a copy of the claimant's certification for
19tax benefits under s. 235.16 (2) or s. 238.16 (2) , 2013 stats., or s. 560.2055 (2), 2009
20stats.
SB148,217 21Section 217. 71.28 (3q) (c) 3. of the statutes is amended to read:
SB148,73,222 71.28 (3q) (c) 3. The maximum amount of credits that may be awarded under
23this subsection and ss. 71.07 (3q) and 71.47 (3q) for the period beginning on January
241, 2010, and ending on June 30, 2013, is $14,500,000, not including the amount of

1any credits reallocated under 235.15 (3) (d) or s. 238.15 (3) (d), 2013 stats., or s.
2560.205 (3) (d), 2009 stats.
SB148,218 3Section 218. 71.28 (3w) (a) 2. of the statutes is amended to read:
SB148,73,64 71.28 (3w) (a) 2. "Claimant" means a person who is certified to claim tax
5benefits under s. 235.399 (5) or s. 238.399 (5), 2013 stats., or s. 560.799 (5), 2009
6stats., and who files a claim under this subsection.
SB148,219 7Section 219. 71.28 (3w) (a) 3. of the statutes is amended to read:
SB148,73,108 71.28 (3w) (a) 3. "Full-time employee" means a full-time employee, as defined
9in s. 235.399 (1) (am) or s. 238.399 (1) (am), 2013 stats., or s. 560.799 (1) (am), 2009
10stats.
SB148,220 11Section 220. 71.28 (3w) (a) 4. of the statutes is amended to read:
SB148,73,1312 71.28 (3w) (a) 4. "Enterprise zone" means a zone designated under s. 235.399
13or
s. 238.399, 2013 stats., or s. 560.799, 2009 stats.
SB148,221 14Section 221. 71.28 (3w) (a) 5d. of the statutes is amended to read:
SB148,73,1715 71.28 (3w) (a) 5d. "Tier I county or municipality" means a tier I county or
16municipality, as determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799,
172009 stats.
SB148,222 18Section 222. 71.28 (3w) (a) 5e. of the statutes is amended to read:
SB148,73,2119 71.28 (3w) (a) 5e. "Tier II county or municipality" means a tier II county or
20municipality, as determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799,
212009 stats.
SB148,223 22Section 223. 71.28 (3w) (b) (intro.) of the statutes is amended to read:
SB148,74,223 71.28 (3w) (b) Filing claims; payroll. (intro.) Subject to the limitations
24provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799,

12009 stats., a claimant may claim as a credit against the tax imposed under s. 71.23
2an amount calculated as follows:
SB148,224 3Section 224. 71.28 (3w) (b) 5. of the statutes is amended to read:
SB148,74,64 71.28 (3w) (b) 5. Multiply the amount determined under subd. 4. by the
5percentage determined under s. 235.399 or s. 238.399 , 2013 stats., or s. 560.799, 2009
6stats., not to exceed 7 percent.
SB148,225 7Section 225. 71.28 (3w) (bm) 1. of the statutes is amended to read:
SB148,74,188 71.28 (3w) (bm) 1. In addition to the credits under par. (b) and subds. 2., 3., and
94., and subject to the limitations provided in this subsection and s. 235.399 or s.
10238.399, 2013 stats., or s. 560.799, 2009 stats., a claimant may claim as a credit
11against the tax imposed under s. 71.23 an amount equal to a percentage, as
12determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., not
13to exceed 100 percent, of the amount the claimant paid in the taxable year to upgrade
14or improve the job-related skills of any of the claimant's full-time employees, to train
15any of the claimant's full-time employees on the use of job-related new technologies,
16or to provide job-related training to any full-time employee whose employment with
17the claimant represents the employee's first full-time job. This subdivision does not
18apply to employees who do not work in an enterprise zone.
SB148,226 19Section 226. 71.28 (3w) (bm) 2. of the statutes is amended to read:
SB148,75,920 71.28 (3w) (bm) 2. In addition to the credits under par. (b) and subds. 1., 3., and
214., and subject to the limitations provided in this subsection and s. 235.399 or s.
22238.399, 2013 stats., or s. 560.799, 2009 stats., a claimant may claim as a credit
23against the tax imposed under s. 71.23 an amount equal to the percentage, as
24determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., not
25to exceed 7 percent, of the claimant's zone payroll paid in the taxable year to all of

1the claimant's full-time employees whose annual wages are greater than the amount
2determined by multiplying 2,080 by 150 percent of the federal minimum wage in a
3tier I county or municipality, not including the wages paid to the employees
4determined under par. (b) 1., or greater than $30,000 in a tier II county or
5municipality, not including the wages paid to the employees determined under par.
6(b) 1., and who the claimant employed in the enterprise zone in the taxable year, if
7the total number of such employees is equal to or greater than the total number of
8such employees in the base year. A claimant may claim a credit under this
9subdivision for no more than 5 consecutive taxable years.
SB148,227 10Section 227. 71.28 (3w) (bm) 3. of the statutes is amended to read:
SB148,75,1711 71.28 (3w) (bm) 3. In addition to the credits under par. (b) and subds. 1., 2., and
124., and subject to the limitations provided in this subsection and s. 235.399 or s.
13238.399, 2013 stats., or s. 560.799, 2009 stats., for taxable years beginning after
14December 31, 2008, a claimant may claim as a credit against the tax imposed under
15s. 71.23 up to 10 percent of the claimant's significant capital expenditures, as
16determined under s. 235.399 (5m) or s. 238.399 (5m) , 2013 stats., or s. 560.799 (5m),
172009 stats.
SB148,228 18Section 228. 71.28 (3w) (bm) 4. of the statutes is amended to read:
SB148,76,319 71.28 (3w) (bm) 4. In addition to the credits under par. (b) and subds. 1., 2., and
203., and subject to the limitations provided in this subsection and s. 235.399 or s.
21238.399, 2013 stats., or s. 560.799, 2009 stats., for taxable years beginning after
22December 31, 2009, a claimant may claim as a credit against the tax imposed under
23s. 71.23, up to 1 percent of the amount that the claimant paid in the taxable year to
24purchase tangible personal property, items, property, or goods under s. 77.52 (1) (b),
25(c), or (d), or services from Wisconsin vendors, as determined under s. 235.399 (5) (e)

1or
s. 238.399 (5) (e), 2013 stats., or s. 560.799 (5) (e), 2009 stats., except that the
2claimant may not claim the credit under this subdivision and subd. 3. for the same
3expenditures.
SB148,229 4Section 229. 71.28 (3w) (c) 3. of the statutes is amended to read:
SB148,76,85 71.28 (3w) (c) 3. No credit may be allowed under this subsection unless the
6claimant includes with the claimant's return a copy of the claimant's certification for
7tax benefits under s. 235.399 (5) or (5m) or s. 238.399 (5) or (5m), 2013 stats., or s.
8560.799 (5) or (5m), 2009 stats.
SB148,230 9Section 230. 71.28 (3w) (d) of the statutes is amended to read:
SB148,76,1510 71.28 (3w) (d) Administration. Subsection (4) (g) and (h), as it applies to the
11credit under sub. (4), applies to the credit under this subsection. Claimants shall
12include with their returns a copy of their certification for tax benefits, and a copy of
13the verification of their expenses, from the department of commerce or the Wisconsin
14Economic Development Corporation or the Forward Wisconsin Development
15Authority
.
SB148,231 16Section 231. 71.28 (4) (am) 1. of the statutes is amended to read:
SB148,77,1917 71.28 (4) (am) 1. In addition to the credit under par. (ad), any corporation may
18credit against taxes otherwise due under this chapter an amount equal to 5 percent
19of the amount obtained by subtracting from the corporation's qualified research
20expenses, as defined in section 41 of the Internal Revenue Code, except that
21"qualified research expenses" include only expenses incurred by the claimant in a
22development zone under subch. III of ch. 235 or subch. II of ch. 238, 2013 stats., or
23subch. VI of ch. 560, 2009 stats., except that a taxpayer may elect the alternative
24computation under section 41 (c) (4) of the Internal Revenue Code and that election
25applies until the department permits its revocation and except that "qualified

1research expenses" do not include compensation used in computing the credit under
2sub. (1dj) nor research expenses incurred before the claimant is certified for tax
3benefits under s. 235.365 (3) or s. 238.365 (3), 2013 stats., or s. 560.765 (3), 2009
4stats., the corporation's base amount, as defined in section 41 (c) of the Internal
5Revenue Code, in a development zone, except that gross receipts used in calculating
6the base amount means gross receipts from sales attributable to Wisconsin under s.
771.25 (9) (b) 1. and 2., (df) 1. and 2., (dh) 1., 2., and 3., (dj), and (dk) and research
8expenses used in calculating the base amount include research expenses incurred
9before the claimant is certified for tax benefits under s. 235.365 (3) or s. 238.365 (3),
102013 stats.,
or s. 560.765 (3), 2009 stats., in a development zone, if the claimant
11submits with the claimant's return a copy of the claimant's certification for tax
12benefits under s. 235.365 (3) or s. 238.365 (3), 2013 stats., or s. 560.765 (3), 2009
13stats., and a statement from the department of commerce or the Wisconsin Economic
14Development Corporation or Forward Wisconsin Development Authority verifying
15the claimant's qualified research expenses for research conducted exclusively in a
16development zone. The rules under s. 73.03 (35) apply to the credit under this
17subdivision. The rules under sub. (1di) (f) and (g) as they apply to the credit under
18that subsection apply to claims under this subdivision. Section 41 (h) of the Internal
19Revenue Code does not apply to the credit under this subdivision.
SB148,232 20Section 232. 71.28 (4) (am) 2. of the statutes is amended to read:
SB148,78,621 71.28 (4) (am) 2. The development zones credit under subd. 1., as it applies to
22a person certified under s. 235.365 or s. 238.365 (3), 2013 stats., or s. 560.765 (3), 2009
23stats., applies to a corporation that conducts economic activity in a development
24opportunity zone under s. 235.395 (1) or s. 238.395 (1), 2013 stats., or s. 560.795 (1),
252009 stats., and that is entitled to tax benefits under s. 235.395 (3) or s. 238.395 (3),

12013 stats.,
or s. 560.795 (3), 2009 stats., subject to the limits under s. 235.395 (2) or
2s. 238.395 (2), 2013 stats., or s. 560.795 (2), 2009 stats. A development opportunity
3zone credit under this subdivision may be calculated using expenses incurred by a
4claimant beginning on the effective date under s. 235.395 (2) (a) or s. 238.395 (2) (a),
52013 stats.,
or s. 560.795 (2) (a), 2009 stats., of the development opportunity zone
6designation of the area in which the claimant conducts economic activity.
SB148,233 7Section 233. 71.28 (5b) (a) 2. of the statutes is amended to read:
SB148,78,98 71.28 (5b) (a) 2. "Fund manager" means an investment fund manager certified
9under s. 235.15 (2) or s. 238.15 (2), 2013 stats., or s. 560.205 (2), 2009 stats.
SB148,234 10Section 234. 71.28 (5b) (b) 1. of the statutes is amended to read:
SB148,78,1711 71.28 (5b) (b) 1. For taxable years beginning after December 31, 2004, subject
12to the limitations provided under this subsection and s. 235.15 or s. 238.15, 2013
13stats.,
or s. 560.205, 2009 stats., and except as provided in subd. 2., a claimant may
14claim as a credit against the tax imposed under s. 71.23, up to the amount of those
15taxes, 25 percent of the claimant's investment paid to a fund manager that the fund
16manager invests in a business certified under s. 235.15 (1) or s. 238.15 (1), 2013
17stats.,
or s. 560.205 (1), 2009 stats.
SB148,235 18Section 235. 71.28 (5b) (b) 2. of the statutes is amended to read:
SB148,79,219 71.28 (5b) (b) 2. In the case of a partnership, limited liability company, or
20tax-option corporation, the computation of the 25 percent limitation under subd. 1.
21shall be determined at the entity level rather than the claimant level and may be
22allocated among the claimants who make investments in the manner set forth in the
23entity's organizational documents. The entity shall provide to the department of
24revenue and to the department of commerce or the Wisconsin Economic
25Development Corporation
Forward Wisconsin Development Authority the names

1and tax identification numbers of the claimants, the amounts of the credits allocated
2to the claimants, and the computation of the allocations.
SB148,236 3Section 236. 71.28 (5b) (d) 3. of the statutes is amended to read:
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