1999 - 2000 LEGISLATURE
ASSEMBLY AMENDMENT 1,
TO 1999 ASSEMBLY BILL 192
July 27, 1999 - Offered by Committee on Small Business and Economic
Development
.
AB192-AA1,1,11 At the locations indicated, amend the bill as follows:
AB192-AA1,1,2 21. Page 2, line 14: delete lines 14 to 16 and substitute:
AB192-AA1,1,4 3"29.543 Donation and disposal of deer carcasses. (1) Definitions. In this
4section:
AB192-AA1,1,85 (a) "Charitable organization" means a nonprofit corporation, charitable trust
6or other nonprofit association that is described in section 501 (c) (3) of the Internal
7Revenue Code and that is exempt from taxation under section 501 (a) of the Internal
8Revenue Code.
AB192-AA1,1,109 (b) "Venison processor" means a person who is engaged in the business of
10processing venison.".
AB192-AA1,1,12 112. Page 2, line 18: delete "sell, give away" and substitute "donate to a
12charitable organization".
AB192-AA1,1,13 133. Page 3, line 2: delete "sold, given away" and substitute "donated".
AB192-AA1,2,1
14. Page 3, line 5: delete lines 5 to 7.
AB192-AA1,2,2 25. Page 3, line 8: before that line insert:
AB192-AA1,2,8 3"(3m) Tax credit. A processor who is authorized to donate venison or a carcass
4under sub. (2) may claim a tax credit under s. 71.07 (5d) or 71.28 (5d) in an amount
5equal to the fair market value of the venison or carcass at the time that the processor
6donated the venison or carcass. The fair market value of the venison or carcass shall
7be based on the amount customarily charged by the processor for the processing and
8storage of venison or a carcass.".
AB192-AA1,2,11 96. Page 3, line 11: delete lines 11 to 12 and substitute "apply to a venison
10processor or to a charitable organization that receives donated venison under this
11section.".
AB192-AA1,2,12 127. Page 3, line 22: delete "give away, sell" and substitute "donate".
AB192-AA1,2,13 138. Page 4, line 1: after that line insert:
AB192-AA1,2,14 14" Section 4m. 71.05 (6) (a) 15. of the statutes is amended to read:
AB192-AA1,2,1915 71.05 (6) (a) 15. The amount of the credits computed under s. 71.07 (2dd), (2de),
16(2di), (2dj), (2dL), (2dr), (2ds), (2dx) and, (3s) and (5d) and not passed through by a
17partnership, limited liability company or tax-option corporation that has added that
18amount to the partnership's, company's or tax-option corporation's income under s.
1971.21 (4) or 71.34 (1) (g).
AB192-AA1, s. 5m 20Section 5m. 71.07 (5d) of the statutes is created to read:
AB192-AA1,2,2421 71.07 (5d) Venison processing credit. (a) Any person who donates venison or
22a carcass under s. 29.543 may claim as a credit against the tax imposed under s. 71.02
23an amount equal to the fair market value of the venison or carcass at the time that
24the processor donated the venison or carcass.
AB192-AA1,3,8
1(b) Partnerships, limited liability companies and tax-option corporations may
2not claim the credit under this subsection, but the eligibility for, and the amount of,
3the credit are based on their payment of the costs of processing and storing the
4venison or carcass. A partnership, limited liability company or tax-option
5corporation shall compute the amount of credit that each of its partners, members
6or shareholders may claim and shall provide that information to each of them.
7Partners, members of limited liability companies and shareholders of tax-option
8corporations may claim the credit in proportion to their ownership interest.
AB192-AA1,3,109 (c) Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies
10to the credit under this subsection.
AB192-AA1,3,1311 (d) No person may claim the credit under this subsection and a deduction for
12state tax purposes under section 160, 165 or 170 of the Internal Revenue Code related
13to the same venison or carcass.
AB192-AA1, s. 6m 14Section 6m. 71.08 (1) (intro.) of the statutes is amended to read:
AB192-AA1,3,2315 71.08 (1) Imposition. (intro.) If the tax imposed on a natural person, married
16couple filing jointly, trust or estate under s. 71.02, not considering the credits under
17ss. 71.07 (1), (2dd), (2de), (2di), (2dj), (2dL), (2dr), (2ds), (2dx), (2fd), (3m), (3s), (5d),
18(6) and (9e), 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx), (1fd), (2m) and, (3) and
19(5d)
and 71.47 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx), (1fd), (2m) and (3) and
20subchs. VIII and IX and payments to other states under s. 71.07 (7), is less than the
21tax under this section, there is imposed on that natural person, married couple filing
22jointly, trust or estate, instead of the tax under s. 71.02, an alternative minimum tax
23computed as follows:
AB192-AA1, s. 7m 24Section 7m. 71.10 (4) (i) of the statutes is amended to read:
AB192-AA1,4,6
171.10 (4) (i) The total of claim of right credit under s. 71.07 (1), farmland
2preservation credit under subch. IX, homestead credit under subch. VIII, farmland
3tax relief credit under s. 71.07 (3m), farmers' drought property tax credit under s.
471.07 (2fd), venison processing credit under s. 71.07 (5d), earned income tax credit
5under s. 71.07 (9e), estimated tax payments under s. 71.09, and taxes withheld under
6subch. X.
AB192-AA1, s. 8m 7Section 8m. 71.21 (4) of the statutes is amended to read:
AB192-AA1,4,108 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di),
9(2dj), (2dL), (2ds), (2dx) and, (3s) and (5d) and passed through to partners shall be
10added to the partnership's income.
AB192-AA1, s. 9m 11Section 9m. 71.26 (2) (a) of the statutes is amended to read:
AB192-AA1,5,212 71.26 (2) (a) Corporations in general. The "net income" of a corporation means
13the gross income as computed under the internal revenue code as modified under
14sub. (3) minus the amount of recapture under s. 71.28 (1di) plus the amount of credit
15computed under s. 71.28 (1) and (3) to (5) plus the amount of the credit computed
16under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds) and , (1dx) and (5d) and not passed
17through by a partnership, limited liability company or tax-option corporation that
18has added that amount to the partnership's, limited liability company's or tax-option
19corporation's income under s. 71.21 (4) or 71.34 (1) (g) plus the amount of losses from
20the sale or other disposition of assets the gain from which would be wholly exempt
21income, as defined in sub. (3) (L), if the assets were sold or otherwise disposed of at
22a gain and minus deductions, as computed under the internal revenue code as
23modified under sub. (3), plus or minus, as appropriate, an amount equal to the
24difference between the federal basis and Wisconsin basis of any asset sold,

1exchanged, abandoned or otherwise disposed of in a taxable transaction during the
2taxable year, except as provided in par. (b) and s. 71.45 (2) and (5).
AB192-AA1, s. 10m 3Section 10m. 71.28 (5d) of the statutes is created to read:
AB192-AA1,5,74 71.28 (5d) Venison processing credit. (a) Any person who donates venison or
5a carcass under s. 29.543 may claim as a credit against the tax imposed under s. 71.23
6an amount equal to the fair market value of the venison or carcass at the time that
7the processor donated the venison or carcass.
AB192-AA1,5,158 (b) Partnerships, limited liability companies and tax-option corporations may
9not claim the credit under this subsection, but the eligibility for, and the amount of,
10the credit are based on their payment of the costs of processing and storing the
11venison or carcass. A partnership, limited liability company or tax-option
12corporation shall compute the amount of credit that each of its partners, members
13or shareholders may claim and shall provide that information to each of them.
14Partners, members of limited liability companies and shareholders of tax-option
15corporations may claim the credit in proportion to their ownership interest.
AB192-AA1,5,1716 (c) Subsection (4) (e) to (h), as it applies to the credit under sub. (4), applies to
17the credit under this subsection.
AB192-AA1,5,2018 (d) No person may claim the credit under this subsection and a deduction for
19state tax purposes under section 160, 165 or 170 of the Internal Revenue Code related
20to the same venison or carcass.
AB192-AA1, s. 11m 21Section 11m. 71.30 (3) (f) of the statutes is amended to read:
AB192-AA1,5,2522 71.30 (3) (f) The total of farmers' drought property tax credit under s. 71.28
23(1fd), farmland preservation credit under subch. IX, farmland tax relief credit under
24s. 71.28 (2m), venison processing credit under s. 71.28 (5d) and estimated tax
25payments under s. 71.29.
AB192-AA1, s. 12m
1Section 12m. 71.34 (1) (g) of the statutes is amended to read:
AB192-AA1,6,42 71.34 (1) (g) An addition shall be made for credits computed by a tax-option
3corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx) and, (3) and (5d)
4and passed through to shareholders.
AB192-AA1, s. 13m 5Section 13m. 77.92 (4) of the statutes is amended to read:
AB192-AA1,6,166 77.92 (4) "Net business income", with respect to a partnership, means taxable
7income as calculated under section 703 of the internal revenue code; plus the items
8of income and gain under section 702 of the internal revenue code; minus the items
9of loss and deduction under section 702 of the internal revenue code; plus payments
10treated as not made to partners under section 707 (a) of the internal revenue code;
11plus the credits claimed under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dr), (2ds),
12(2dx) and, (3s) and (5d); but excluding income, gain, loss and deductions from
13farming. "Net business income", with respect to a natural person, estate or trust,
14means profit from a trade or business for federal income tax purposes and includes
15net income derived as an employe as defined in section 3121 (d) (3) of the internal
16revenue code.
AB192-AA1, s. 13t 17Section 13t. 895.51 (2m) of the statutes is created to read:
AB192-AA1,6,2118 895.51 (2m) Any venison processor, as defined in s. 29.543 (1) (b), who donates
19venison or a deer carcass under s. 29.543 is immune from civil liability for the death
20of or injury to an individual caused by the venison or carcass donated by the
21processor.
AB192-AA1, s. 14m 22Section 14m. Initial applicability.
AB192-AA1,7,5 23(1) Venison processing credit. The treatment of sections 71.05 (6) (a) 15., 71.07
24(5d), 71.08 (1) (intro.), 71.10 (4) (i), 71.21 (4), 71.26 (2) (a), 71.28 (5d), 71.30 (3) (f),
2571.34 (1) (g) and 77.92 (4) of the statutes first applies to taxable years beginning on

1January 1 of the year in which this subsection takes effect, except that if this
2subsection takes effect after July 31 the treatment of sections 71.05 (6) (a) 15., 71.07
3(5d), 71.08 (1) (intro.), 71.10 (4) (i), 71.21 (4), 71.26 (2) (a), 71.28 (5d), 71.30 (3) (f),
471.34 (1) (g) and 77.92 (4) of the statutes first applies to taxable years beginning on
5January 1 of the year after the year in which this subsection takes effect.".
Loading...
Loading...