SB148: Bill Text

SB148,226 Section 226. 71.28 (3w) (bm) 2. of the statutes is amended to read:

SB148,75,9 71.28 (3w) (bm) 2. In addition to the credits under par. (b) and subds. 1., 3., and 4., and subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.23 an amount equal to the percentage, as determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., not to exceed 7 percent, of the claimant's zone payroll paid in the taxable year to all of the claimant's full-time employees whose annual wages are greater than the amount determined by multiplying 2,080 by 150 percent of the federal minimum wage in a tier I county or municipality, not including the wages paid to the employees determined under par. (b) 1., or greater than $30,000 in a tier II county or municipality, not including the wages paid to the employees determined under par. (b) 1., and who the claimant employed in the enterprise zone in the taxable year, if the total number of such employees is equal to or greater than the total number of such employees in the base year. A claimant may claim a credit under this subdivision for no more than 5 consecutive taxable years.

SB148,227 Section 227. 71.28 (3w) (bm) 3. of the statutes is amended to read:

SB148,75,17 71.28 (3w) (bm) 3. In addition to the credits under par. (b) and subds. 1., 2., and 4., and subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., for taxable years beginning after December 31, 2008, a claimant may claim as a credit against the tax imposed under s. 71.23 up to 10 percent of the claimant's significant capital expenditures, as determined under s. 235.399 (5m) or s. 238.399 (5m) , 2013 stats., or s. 560.799 (5m), 2009 stats.

SB148,228 Section 228. 71.28 (3w) (bm) 4. of the statutes is amended to read:

SB148,76,3 71.28 (3w) (bm) 4. In addition to the credits under par. (b) and subds. 1., 2., and 3., and subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., for taxable years beginning after December 31, 2009, a claimant may claim as a credit against the tax imposed under s. 71.23, up to 1 percent of the amount that the claimant paid in the taxable year to purchase tangible personal property, items, property, or goods under s. 77.52 (1) (b), (c), or (d), or services from Wisconsin vendors, as determined under s. 235.399 (5) (e) or s. 238.399 (5) (e), 2013 stats., or s. 560.799 (5) (e), 2009 stats., except that the claimant may not claim the credit under this subdivision and subd. 3. for the same expenditures.

SB148,229 Section 229. 71.28 (3w) (c) 3. of the statutes is amended to read:

SB148,76,8 71.28 (3w) (c) 3. 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. 235.399 (5) or (5m) or s. 238.399 (5) or (5m), 2013 stats., or s. 560.799 (5) or (5m), 2009 stats.

SB148,230 Section 230. 71.28 (3w) (d) of the statutes is amended to read:

SB148,76,15 71.28 (3w) (d) Administration. Subsection (4) (g) and (h), as it applies to the credit under sub. (4), applies to the credit under this subsection. Claimants shall include with their returns a copy of their certification for tax benefits, and a copy of the verification of their expenses, from the department of commerce or the Wisconsin Economic Development Corporation or the Forward Wisconsin Development Authority.

SB148,231 Section 231. 71.28 (4) (am) 1. of the statutes is amended to read:

SB148,77,19 71.28 (4) (am) 1. In addition to the credit under par. (ad), any corporation may credit against taxes otherwise due under this chapter an amount equal to 5 percent of the amount obtained by subtracting from the corporation's qualified research expenses, as defined in section 41 of the Internal Revenue Code, except that "qualified research expenses" include only expenses incurred by the claimant in a development zone under subch. III of ch. 235 or subch. II of ch. 238, 2013 stats., or subch. VI of ch. 560, 2009 stats., except that a taxpayer may elect the alternative computation under section 41 (c) (4) of the Internal Revenue Code and that election applies until the department permits its revocation and except that "qualified research expenses" do not include compensation used in computing the credit under sub. (1dj) nor research expenses incurred before the claimant is certified for tax benefits under s. 235.365 (3) or s. 238.365 (3), 2013 stats., or s. 560.765 (3), 2009 stats., the corporation's base amount, as defined in section 41 (c) of the Internal Revenue Code, in a development zone, except that gross receipts used in calculating the base amount means gross receipts from sales attributable to Wisconsin under s. 71.25 (9) (b) 1. and 2., (df) 1. and 2., (dh) 1., 2., and 3., (dj), and (dk) and research expenses used in calculating the base amount include research expenses incurred before the claimant is certified for tax benefits under s. 235.365 (3) or s. 238.365 (3), 2013 stats., or s. 560.765 (3), 2009 stats., in a development zone, if the claimant submits with the claimant's return a copy of the claimant's certification for tax benefits under s. 235.365 (3) or s. 238.365 (3), 2013 stats., or s. 560.765 (3), 2009 stats., and a statement from the department of commerce or the Wisconsin Economic Development Corporation or Forward Wisconsin Development Authority verifying the claimant's qualified research expenses for research conducted exclusively in a development zone. The rules under s. 73.03 (35) apply to the credit under this subdivision. The rules under sub. (1di) (f) and (g) as they apply to the credit under that subsection apply to claims under this subdivision. Section 41 (h) of the Internal Revenue Code does not apply to the credit under this subdivision.

SB148,232 Section 232. 71.28 (4) (am) 2. of the statutes is amended to read:

SB148,78,6 71.28 (4) (am) 2. The development zones credit under subd. 1., as it applies to a person certified under s. 235.365 or s. 238.365 (3), 2013 stats., or s. 560.765 (3), 2009 stats., applies to a corporation that conducts economic activity in a development opportunity zone under s. 235.395 (1) or s. 238.395 (1), 2013 stats., or s. 560.795 (1), 2009 stats., and that is entitled to tax benefits under s. 235.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., subject to the limits under s. 235.395 (2) or s. 238.395 (2), 2013 stats., or s. 560.795 (2), 2009 stats. A development opportunity zone credit under this subdivision may be calculated using expenses incurred by a claimant beginning on the effective date under s. 235.395 (2) (a) or s. 238.395 (2) (a), 2013 stats., or s. 560.795 (2) (a), 2009 stats., of the development opportunity zone designation of the area in which the claimant conducts economic activity.

SB148,233 Section 233. 71.28 (5b) (a) 2. of the statutes is amended to read:

SB148,78,9 71.28 (5b) (a) 2. "Fund manager" means an investment fund manager certified under s. 235.15 (2) or s. 238.15 (2), 2013 stats., or s. 560.205 (2), 2009 stats.

SB148,234 Section 234. 71.28 (5b) (b) 1. of the statutes is amended to read:

SB148,78,17 71.28 (5b) (b) 1. For taxable years beginning after December 31, 2004, subject to the limitations provided under this subsection and s. 235.15 or s. 238.15, 2013 stats., or s. 560.205, 2009 stats., and except as provided in subd. 2., a claimant may claim as a credit against the tax imposed under s. 71.23, up to the amount of those taxes, 25 percent of the claimant's investment paid to a fund manager that the fund manager invests in a business certified under s. 235.15 (1) or s. 238.15 (1), 2013 stats., or s. 560.205 (1), 2009 stats.

SB148,235 Section 235. 71.28 (5b) (b) 2. of the statutes is amended to read:

SB148,79,2 71.28 (5b) (b) 2. In the case of a partnership, limited liability company, or tax-option corporation, the computation of the 25 percent limitation under subd. 1. shall be determined at the entity level rather than the claimant level and may be allocated among the claimants who make investments in the manner set forth in the entity's organizational documents. The entity shall provide to the department of revenue and to the department of commerce or the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority the names and tax identification numbers of the claimants, the amounts of the credits allocated to the claimants, and the computation of the allocations.

SB148,236 Section 236. 71.28 (5b) (d) 3. of the statutes is amended to read:

SB148,79,8 71.28 (5b) (d) 3. Except as provided under s. 238.15 235.15 (3) (d) (intro.), for investments made after December 31, 2007, if an investment for which a claimant claims a credit under par. (b) is held by the claimant for less than 3 years, the claimant shall pay to the department, in the manner prescribed by the department, the amount of the credit that the claimant received related to the investment.

SB148,237 Section 237. 71.28 (6) (c) (intro.) of the statutes is amended to read:

SB148,79,14 71.28 (6) (c) (intro.) No person may claim the credit under par. (a) 2m. unless the claimant includes with the claimant's return a copy of the claimant's certification under s. 238.17 235.17. For certification purposes under s. 238.17 235.17, the claimant shall provide to the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority all of the following:

SB148,238 Section 238. 71.36 (1m) (b) 2. of the statutes is amended to read:

SB148,80,2 71.36 (1m) (b) 2. Interest on obligations issued under s. 66.0304 by a commission if the bonds or notes are used to fund multifamily affordable housing projects or elderly housing projects in this state, and the Forward Wisconsin Housing and Economic Development Authority has the authority to issue its bonds or notes for the project being funded, or if the bonds or notes are used by a health facility, as defined in s. 231.01 (5), to fund the acquisition of information technology hardware or software, in this state, and the Wisconsin Health and Educational Facilities Authority has the authority to issue its bonds or notes for the project being funded, or if the bonds or notes are issued to fund a redevelopment project in this state or a housing project in this state, and the authority exists for bonds or notes to be issued by an entity described under s. 66.1201, 66.1333, or 66.1335.

SB148,239 Section 239. 71.36 (1m) (b) 5. of the statutes is amended to read:

SB148,80,6 71.36 (1m) (b) 5. Interest on obligations issued under s. 234.65, 2013 stats., to fund an economic development loan to finance construction, renovation or development of property that would be exempt under s. 70.11 (36).

SB148,240 Section 240. 71.45 (1t) (e) of the statutes is amended to read:

SB148,80,10 71.45 (1t) (e) Those issued under s. 234.65, 2013 stats., to fund an economic development loan to finance construction, renovation or development of property that would be exempt under s. 70.11 (36).

SB148,241 Section 241. 71.45 (1t) (em) of the statutes is amended to read:

SB148,80,15 71.45 (1t) (em) Those issued under s. 234.08, 2013 stats., or s. 234.61, 2013 stats., on or after January 1, 2004, or the Forward Wisconsin Development Authority under s. 235.02 or 235.61, if the obligations are issued to fund multifamily affordable housing projects or elderly housing projects.

SB148,242 Section 242. 71.45 (1t) (k) 1. of the statutes is amended to read:

SB148,80,21 71.45 (1t) (k) 1. The bonds or notes are used to fund multifamily affordable housing projects or elderly housing projects in this state, and the Wisconsin Housing and Economic Development Authority under ch. 234, 2013 stats., or the Forward Wisconsin Development Authority has the authority to issue its bonds or notes for the project being funded.

SB148,243 Section 243. 71.45 (1t) (m) of the statutes is amended to read:

SB148,81,2 71.45 (1t) (m) Those issued by the Wisconsin Housing and Economic Development Authority or the Forward Wisconsin Development Authority to provide loans to a public affairs network under s. 234.75 (4), 2013 stats., or s. 235.75 (4).

SB148,244 Section 244. 71.47 (1) (a) of the statutes is amended to read:

SB148,81,14 71.47 (1) (a) Any corporation which contributes an amount to the community development finance authority under s. 233.03, 1985 stats., or to the housing and economic development authority under s. 234.03 (32), 2013 stats., or to the Forward Wisconsin Development Authority on behalf of the community development finance company under s. 235.95 and in the same year purchases common stock or partnership interests of the community development finance company issued under s. 233.05 (2), 1985 stats., or s. 234.95 (2), 2013 stats., or s. 235.95 (2) in an amount no greater than the contribution to the authority, may credit against taxes otherwise due an amount equal to 75% of the purchase price of the stock or partnership interests. The credit received under this paragraph may not exceed 75% of the contribution to the community development finance authority.

SB148,245 Section 245. 71.47 (1dm) (a) 1. of the statutes is amended to read:

SB148,81,20 71.47 (1dm) (a) 1. "Certified" means entitled under s. 235.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 235.395 (5), 235.398 (3), or 235.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats.

SB148,246 Section 246. 71.47 (1dm) (a) 3. of the statutes is amended to read:

SB148,82,2 71.47 (1dm) (a) 3. "Development zone" means a development opportunity zone under s. 235.395 (1) (e) and (f) or 235.398 or s. 238.395 (1) (e) and (f), 2013 stats., or s. 238.398, 2013 stats. or s. 560.795 (1) (e) and (f), 2009 stats., or s. 560.798, 2009 stats., or an airport development zone under s. 235.3995 or s. 238.3995, 2013 stats., or s. 560.7995, 2009 stats.

SB148,247 Section 247. 71.47 (1dm) (a) 4. of the statutes is amended to read:

SB148,82,13 71.47 (1dm) (a) 4. "Previously owned property" means real property that the claimant or a related person owned during the 2 years prior to the department of commerce or the Wisconsin Economic Development Corporation or the Forward Wisconsin Development Authority designating the place where the property is located as a development zone and for which the claimant may not deduct a loss from the sale of the property to, or an exchange of the property with, the related person under section 267 of the Internal Revenue Code, except that section 267 (b) of the Internal Revenue Code is modified so that if the claimant owns any part of the property, rather than 50% ownership, the claimant is subject to section 267 (a) (1) of the Internal Revenue Code for purposes of this subsection.

SB148,248 Section 248. 71.47 (1dm) (f) 1. of the statutes is amended to read:

SB148,82,19 71.47 (1dm) (f) 1. A copy of the verification that the claimant may claim tax benefits under s. 235.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., or is certified under s. 235.395 (5), 235.398 (3), or 235.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (3) , 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats.

SB148,249 Section 249. 71.47 (1dm) (f) 2. of the statutes is amended to read:

SB148,82,24 71.47 (1dm) (f) 2. A statement from the department of commerce or the Wisconsin Economic Development Corporation or the Forward Wisconsin Development Authority verifying the purchase price of the investment and verifying that the investment fulfills the requirements under par. (b).

SB148,250 Section 250. 71.47 (1dm) (i) of the statutes is amended to read:

SB148,83,15 71.47 (1dm) (i) Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, that credit shall be determined on the basis of their economic activity, not that of their shareholders, partners, or members. The corporation, partnership, or limited liability company shall compute the amount of credit that may be claimed by each of its shareholders, partners, or members and provide that information to its shareholders, partners, or members. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit based on the partnership's, company's, or corporation's activities in proportion to their ownership interest and may offset it against the tax attributable to their income from the partnership's, company's, or corporation's business operations in the development zone; except that partners, members, and shareholders in a development zone under s. 235.395 (1) (e) or s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., may offset the credit against the amount of the tax attributable to their income.

SB148,251 Section 251. 71.47 (1dm) (j) of the statutes is amended to read:

SB148,84,4 71.47 (1dm) (j) If a person who is entitled under s. 235.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits becomes ineligible for such tax benefits, or if a person's certification under s. 235.395 (5), 235.398 (3), or 235.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., is revoked, that person may claim no credits under this subsection for the taxable year that includes the day on which the person becomes ineligible for tax benefits, the taxable year that includes the day on which the certification is revoked, or succeeding taxable years, and that person may carry over no unused credits from previous years to offset tax under this chapter for the taxable year that includes the day on which the person becomes ineligible for tax benefits, the taxable year that includes the day on which the certification is revoked, or succeeding taxable years.

SB148,252 Section 252. 71.47 (1dm) (k) of the statutes is amended to read:

SB148,84,14 71.47 (1dm) (k) If a person who is entitled under s. 235.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 235.395 (5), 235.398 (3), or 235.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., 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.

SB148,253 Section 253. 71.47 (1dx) (a) 2. of the statutes is amended to read:

SB148,84,22 71.47 (1dx) (a) 2. "Development zone" means a development zone under s. 235.30 or s. 238.30, 2013 stats., or s. 560.70, 2009 stats., a development opportunity zone under s. 235.395 or s. 238.395, 2013 stats., or s. 560.795, 2009 stats., or an enterprise development zone under s. 235.397 or s. 238.397, 2013 stats., or s. 560.797, 2009 stats., an agricultural development zone under s. 235.398 or s. 238.398, 2013 stats., or s. 560.798, 2009 stats., or an airport development zone under s. 235.3995 or s. 238.3995, 2013 stats., or s. 560.7995, 2009 stats.

SB148,254 Section 254. 71.47 (1dx) (a) 4. of the statutes is amended to read:

SB148,84,25 71.47 (1dx) (a) 4. "Full-time job" has the meaning given in s. 238.30 235.30 (2m).

SB148,255 Section 255. 71.47 (1dx) (b) (intro.) of the statutes is amended to read:

SB148,85,10 71.47 (1dx) (b) Credit. (intro.) Except as provided in pars. (be) and (bg) and in s. 73.03 (35), and subject to s. 235.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., for any taxable year for which the person is entitled under s. 235.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., to claim tax benefits or certified under s. 235.365 (3), 235.397 (4), 235.398 (3), or 235.3995 (4) or s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., 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., any person may claim as a credit against the taxes otherwise due under this chapter the following amounts:

SB148,256 Section 256. 71.47 (1dx) (b) 2. of the statutes is amended to read:

SB148,85,16 71.47 (1dx) (b) 2. The amount determined by multiplying the amount determined under s. 235.385 (1) (b) or s. 238.385 (1) (b), 2013 stats., or s. 560.785 (1) (b), 2009 stats., by the number of full-time jobs created in a development zone and filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB148,257 Section 257. 71.47 (1dx) (b) 3. of the statutes is amended to read:

SB148,85,22 71.47 (1dx) (b) 3. The amount determined by multiplying the amount determined under s. 235.385 (1) (c) or s. 238.385 (1) (c), 2013 stats., or s. 560.785 (1) (c), 2009 stats., by the number of full-time jobs created in a development zone and not filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB148,258 Section 258. 71.47 (1dx) (b) 4. of the statutes is amended to read:

SB148,86,6 71.47 (1dx) (b) 4. The amount determined by multiplying the amount determined under s. 235.385 (1) (bm) or s. 238.385 (1) (bm), 2013 stats., or s. 560.785 (1) (bm), 2009 stats., by the number of full-time jobs retained, as provided in the rules under s. 235.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., excluding jobs for which a credit has been claimed under sub. (1dj), in an enterprise development zone under s. 235.397 or s. 238.397, 2013 stats., or s. 560.797, 2009 stats., and for which significant capital investment was made and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB148,259 Section 259. 71.47 (1dx) (b) 5. of the statutes is amended to read:

SB148,86,14 71.47 (1dx) (b) 5. The amount determined by multiplying the amount determined under s. 235.385 (1) (c) or s. 238.385 (1) (c), 2013 stats., or s. 560.785 (1) (c), 2009 stats., by the number of full-time jobs retained, as provided in the rules under s. 235.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., excluding jobs for which a credit has been claimed under sub. (1dj), in a development zone and not filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB148,260 Section 260. 71.47 (1dx) (be) of the statutes is amended to read:

SB148,86,21 71.47 (1dx) (be) Offset. A claimant in a development zone under s. 235.395 (1) (e) or s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., may offset any credits claimed under this subsection, including any credits carried over, against the amount of the tax otherwise due under this subchapter attributable to all of the claimant's income and against the tax attributable to income from directly related business operations of the claimant.

SB148,261 Section 261. 71.47 (1dx) (bg) of the statutes is amended to read:

SB148,87,9 71.47 (1dx) (bg) Other entities. For claimants in a development zone under s. 235.395 (1) (e) or s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and amount of, that credit shall be determined on the basis of their economic activity, not that of their shareholders, partners, or members. The corporation, partnership, or company shall compute the amount of the credit that may be claimed by each of its shareholders, partners, or members and shall provide that information to each of its shareholders, partners, or members. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit based on the partnership's, company's, or corporation's activities in proportion to their ownership interest and may offset it against the tax attributable to their income.

SB148,262 Section 262. 71.47 (1dx) (c) of the statutes is amended to read:

SB148,87,23 71.47 (1dx) (c) Credit precluded. If the certification of a person for tax benefits under s. 235.365 (3), 235.397 (4), 235.398 (3), or 235.3995 (4) or s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., 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. 235.395 (3) or s. 238.395 (3), 2013 stats., 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.

SB148,263 Section 263. 71.47 (1dx) (d) of the statutes is amended to read:

SB148,88,10 71.47 (1dx) (d) Carry-over precluded. If a person who is entitled under s. 235.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., to claim tax benefits or certified under s. 235.365 (3), 235.397 (4), 235.398 (3), or 235.3995 (4) or s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., 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.

SB148,264 Section 264. 71.47 (1dy) (a) of the statutes is amended to read:

SB148,88,15 71.47 (1dy) (a) Definition. In this subsection, "claimant" means a person who files a claim under this subsection and is certified under s. 235.301 (2) or s. 238.301 (2), 2013 stats., or s. 560.701 (2), 2009 stats., and authorized to claim tax benefits under s. 235.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats.

SB148,265 Section 265. 71.47 (1dy) (b) of the statutes is amended to read:

SB148,88,22 71.47 (1dy) (b) Filing claims. Subject to the limitations under this subsection and ss. 235.301 to 235.306 or ss. 238.301 to 238.306 , 2013 stats., 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. 235.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats.

SB148,266 Section 266. 71.47 (1dy) (c) 1. of the statutes is amended to read:

SB148,89,3 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. 235.301 (2) or s. 238.301 (2), 2013 stats., or s. 560.701 (2), 2009 stats., and a copy of the claimant's notice of eligibility to receive tax benefits under s. 235.303 (3) or s. 238.303 (3), 2013 stats., or s. 560.703 (3), 2009 stats.

SB148,267 Section 267. 71.47 (1dy) (c) 2. of the statutes is amended to read:

SB148,89,13 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. 235.303 or s. 238.303, 2013 stats., 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.

SB148,268 Section 268. 71.47 (1dy) (d) 2. of the statutes is amended to read:

SB148,89,24 71.47 (1dy) (d) 2. If a claimant's certification is revoked under s. 235.305 or s. 238.305, 2013 stats., or s. 560.705, 2009 stats., or if a claimant becomes ineligible for tax benefits under s. 235.302 or s. 238.302, 2013 stats., 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.

SB148,269 Section 269. 71.47 (3g) (a) (intro.) of the statutes is amended to read:

SB148,90,6 71.47 (3g) (a) (intro.) Subject to the limitations under this subsection and ss. 73.03 (35m) and 235.23 and s. 238.23, 2013 stats., and s. 560.96, 2009 stats., a business that is certified under s. 235.23 (3) or s. 238.23 (3), 2013 stats., 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. 235.23 (3) (c) or s. 238.23 (3) (c), 2013 stats., or s. 560.96 (3) (c), 2009 stats.:

SB148,270 Section 270. 71.47 (3g) (b) of the statutes is amended to read: