Amendment SSA1-AB892

AB892-SSA1,6,16 20.835 (4) (ge) Local professional football stadium district taxes. All moneys received from the taxes imposed under s. 77.706, for the purpose of distribution to the special districts that adopt a resolution imposing taxes under subch. V of ch. 77, and for the purpose of financing a local professional football stadium district, except that, of those tax revenues collected under subch. V of ch. 77, 1.5% shall be credited to the appropriation account under s. 20.566 (1) (ge).

AB892-SSA1, s. 14 Section 14. 20.867 (5) of the statutes is created to read:

AB892-SSA1,6,21 20.867 (5) Services to nonstate governmental units. (g) Financial consulting services. All moneys received from local professional football stadium districts for financial consulting services provided under s. 18.03 (5s), to be used to provide those services.

AB892-SSA1, s. 15 Section 15. 24.61 (2) (a) (title) of the statutes is amended to read:

AB892-SSA1,6,23 24.61 (2) (a) (title) Authorized investments by board.

AB892-SSA1, s. 16 Section 16. 24.61 (2) (a) 3. of the statutes is amended to read:

AB892-SSA1,6,25 24.61 (2) (a) 3. Bonds and notes of this state.

AB892-SSA1, s. 17 Section 17. 24.61 (2) (a) 8. of the statutes is created to read:

AB892-SSA1,7,3 24.61 (2) (a) 8. Bonds issued by a local professional football stadium district created under subch. IV of ch. 229.

AB892-SSA1, s. 18 Section 18. 24.61 (2) (b) of the statutes is amended to read:

AB892-SSA1,7,6 24.61 (2) (b) Deposited with state treasurer. All bonds, notes and other securities so purchased under par. (a) shall be deposited with the state treasurer.

AB892-SSA1, s. 19 Section 19. 24.61 (2) (c) of the statutes is created to read:

AB892-SSA1,7,13 24.61 (2) (c) Delegation of investment authority to investment board. The board of commissioners of public lands may delegate to the investment board the authority to invest part or all of the moneys belonging to the trust funds. If the board of commissioners of public lands delegates the authority, the investment board may invest the moneys belonging to the trust funds in any manner authorized for the investment of any funds specified in s. 25.17 (1).

AB892-SSA1, s. 20 Section 20. 24.62 (1) of the statutes is amended to read:

AB892-SSA1,7,22 24.62 (1) Except as authorized in sub. (2), the board shall deduct its expenses incurred in administering investments and loans under s. 24.61 from the gross receipts of the fund to which the interest and income of the investment or loan will be added. If the board of commissioners of public lands delegates to the investment board the authority to invest part or all of the moneys belonging to the trust funds, the investment board shall deduct its expenses incurred in administering investments under s. 24.61 from the gross receipts of the fund to which the interest and income of the investment will be added.

AB892-SSA1, s. 21 Section 21. 25.16 (8) of the statutes is created to read:

AB892-SSA1,8,6 25.16 (8) The executive director shall assign an investment professional to assist the board of commissioners of public lands in establishing and maintaining investment objectives with respect to the investment of the assets of the agricultural college fund, the common school fund, the normal school fund and the university fund. An amount equal to the cost of any services rendered to the board of commissioners of public lands under this subsection shall be deducted from the gross receipts of the fund to which the moneys invested belong and shall be credited to the appropriation account under s. 20.536 (1) (k).

AB892-SSA1, s. 22 Section 22. 25.17 (1) (ah) of the statutes is created to read:

AB892-SSA1,8,9 25.17 (1) (ah) Agricultural college fund (s. 24.82), but subject to the terms of delegation under s. 24.61 (2) (c);

AB892-SSA1, s. 23 Section 23. 25.17 (1) (ax) of the statutes is created to read:

AB892-SSA1,8,12 25.17 (1) (ax) Common school fund (s. 24.76), but subject to the terms of delegation under s. 24.61 (2) (c);

AB892-SSA1, s. 24 Section 24. 25.17 (1) (kd) of the statutes is created to read:

AB892-SSA1,8,15 25.17 (1) (kd) Normal school fund (s. 24.80), but subject to the terms of delegation under s. 24.61 (2) (c);

AB892-SSA1, s. 25 Section 25. 25.17 (1) (xLm) of the statutes is created to read:

AB892-SSA1,8,18 25.17 (1) (xLm) University fund (s. 24.81), but subject to the terms of delegation under s. 24.61 (2) (c);

AB892-SSA1, s. 26 Section 26. 25.17 (1) (zm) of the statutes is amended to read:

AB892-SSA1,8,25 25.17 (1) (zm) All other funds of the state or of any state department or institution, except funds which under article X of the constitution are controlled and invested by the board of commissioners of public lands, funds which are required by specific provision of law to be controlled and invested by any other authority, and moneys in the University of Wisconsin trust funds, and in the trust funds of the state universities.

AB892-SSA1, s. 27 Section 27. 25.17 (3) (b) 11. of the statutes is created to read:

AB892-SSA1,9,3 25.17 (3) (b) 11. Bonds issued by a local professional football stadium district created under subch. IV of ch. 229.

AB892-SSA1, s. 28 Section 28. 25.40 (1) (a) 20. of the statutes is created to read:

AB892-SSA1,9,7 25.40 (1) (a) 20. Moneys received under s. 341.14 (6r) (b) 8. that are deposited into the general fund and credited to the appropriation accounts under s. 20.395 (1) (ig) and (5) (cL).

AB892-SSA1, s. 29 Section 29. 25.50 (1) (d) of the statutes, as affected by 1999 Wisconsin Act 9, is amended to read:

AB892-SSA1,9,18 25.50 (1) (d) "Local government" means any county, town, village, city, power district, sewerage district, drainage district, town sanitary district, public inland lake protection and rehabilitation district, local professional baseball park district created under subch. III of ch. 229, family care district under s. 46.2895, local professional football stadium district created under subch. IV of ch. 229, public library system, school district or technical college district in this state, any commission, committee, board or officer of any governmental subdivision of this state, any court of this state, other than the court of appeals or the supreme court, or any authority created under s. 231.02, 233.02 or 234.02.

AB892-SSA1, s. 30 Section 30. 32.02 (1) of the statutes is amended to read:

AB892-SSA1,9,25 32.02 (1) Any county, town, village, city, including villages and cities incorporated under general or special acts, school district, the department of health and family services, the department of corrections, the board of regents of the university of Wisconsin system, the building commission, a commission created by contract under s. 66.30, with the approval of the municipality in which condemnation is proposed, or any public board or commission, for any lawful purpose, but in the case of city and village boards or commissions approval of that action is required to be granted by the governing body. A mosquito control commission, created under s. 59.70 (12), and a local professional football stadium district board, created under subch. IV of ch. 229, may not acquire property by condemnation.

AB892-SSA1, s. 31 Section 31. 66.04 (2) (a) (intro.) of the statutes is amended to read:

AB892-SSA1,10,10 66.04 (2) (a) (intro.) Any county, city, village, town, school district, drainage district, technical college district or other governing board, as defined by s. 34.01 (1), other than a local professional football stadium district board created under subch. IV of ch. 229, may invest any of its funds not immediately needed in any of the following:

AB892-SSA1, s. 32 Section 32. 66.04 (2) (a) 3q. of the statutes is created to read:

AB892-SSA1,10,13 66.04 (2) (a) 3q. Bonds issued by a local professional football stadium district created under subch. IV of ch. 229.

AB892-SSA1, s. 33 Section 33. 66.066 (1) (a) of the statutes is amended to read:

AB892-SSA1,10,25 66.066 (1) (a) "Municipality" means any city, village, town, county, commission created by contract under s. 66.30, public inland lake protection and rehabilitation district established under s. 33.23, 33.235 or 33.24, metropolitan sewerage district created under ss. 66.20 to 66.26 or 66.88 to 66.918, town sanitary district under subch. IX of ch. 60, a local professional baseball park district created under subch. III of ch. 229, a local professional football stadium district created under subch. IV of ch. 229 or a municipal water district or power district under ch. 198 and any other public or quasi-public corporation, officer, board or other public body empowered to borrow money and issue obligations to repay the same out of revenues. "Municipality" does not include the state or a local exposition district created under subch. II of ch. 229.

AB892-SSA1, s. 34 Section 34. 66.066 (1) (c) of the statutes is amended to read:

AB892-SSA1,11,9 66.066 (1) (c) "Revenue" means all moneys received from any source by a public utility and all rentals and fees and, in the case of a local professional baseball park district created under subch. III of ch. 229 includes tax revenues deposited into a special fund under s. 229.685 and payments made into a special debt service reserve fund under s. 229.74 and, in the case of a local professional football stadium district created under subch. IV of ch. 229 includes tax revenues deposited into a special fund under s. 229.825 and payments made into a special debt service reserve fund under s. 229.830.

AB892-SSA1, s. 35 Section 35. 66.066 (5) of the statutes is renumbered 66.066 (5) (a).

AB892-SSA1, s. 36 Section 36. 66.066 (5) (b) of the statutes is created to read:

AB892-SSA1,11,14 66.066 (5) (b) Revenue bonds issued by a local professional football stadium district created under subch. IV of ch. 229 are subject to the provisions in ss. 229.829 to 229.834.

AB892-SSA1, s. 37 Section 37. 66.067 of the statutes is amended to read:

AB892-SSA1,11,24 66.067 Public works projects. For financing purposes, garbage incinerators, toll bridges, swimming pools, tennis courts, parks, playgrounds, golf links, bathing beaches, bathhouses, street lighting, city halls, village halls, town halls, courthouses, jails, schools, cooperative educational service agencies, hospitals, homes for the aged or indigent, child care centers, as defined in s. 231.01 (3c), regional projects, waste collection and disposal operations, systems of sewerage, local professional baseball park facilities, local professional football stadium facilities and any and all other necessary public works projects undertaken by any municipality are public utilities within the meaning of s. 66.066.

AB892-SSA1, s. 38 Section 38. 66.30 (1) (a) of the statutes, as affected by 1999 Wisconsin Act 9, is amended to read:

AB892-SSA1,12,13 66.30 (1) (a) In this section "municipality" means the state or any department or agency thereof, or any city, village, town, county, school district, public library system, public inland lake protection and rehabilitation district, sanitary district, farm drainage district, metropolitan sewerage district, sewer utility district, solid waste management system created under s. 59.70 (2), local exposition district created under subch. II of ch. 229, local professional baseball park district created under subch. III of ch. 229, local professional football stadium district created under subch. IV of ch. 229, family care district under s. 46.2895, water utility district, mosquito control district, municipal electric company, county or city transit commission, commission created by contract under this section, taxation district or regional planning commission.

AB892-SSA1, s. 39 Section 39. 70.11 (36) of the statutes is renumbered 70.11 (36) (a) and amended to read:

AB892-SSA1,13,2 70.11 (36) (a) Professional sports and entertainment home stadiums. Property consisting of or contained in a sports and entertainment home stadium, except a football stadium as defined in s. 229.821 (6); including but not limited to parking lots, garages, restaurants, parks, concession facilities, entertainment facilities, transportation facilities, and other functionally related or auxiliary facilities and structures; including those facilities and structures while they are being built; constructed by, leased to or primarily used by a professional athletic team that is a member of a league that includes teams that have home stadiums in other states, and the land on which that stadium and those structures and facilities are located. Leasing or subleasing the property; regardless of the lessee, the sublessee and the use of the leasehold income; does not render the property taxable.

AB892-SSA1, s. 40 Section 40. 70.11 (36) (b) of the statutes is created to read:

AB892-SSA1,13,15 70.11 (36) (b) Property consisting of or contained in a football stadium, as defined in s. 229.821 (6), and related facilities and structures, including those facilities and structures while they are being built or constructed, primarily used by a professional football team described in s. 229.823, and the land, including parking lots, on which that stadium and those facilities and structures are located. Related facilities and structures are limited to improvements that share common structural supports with the stadium or are physically attached to the stadium. Using the property for garages, restaurants, parks, concession facilities, entertainment facilities, transportation facilities, or other functionally related or auxiliary facilities does not render the property taxable. Leasing or subleasing the property; regardless of the lessee, the sublessee and the use of the leasehold income; does not render the property taxable.

AB892-SSA1, s. 41 Section 41. 71.05 (1) (c) 5. of the statutes is created to read:

AB892-SSA1,13,18 71.05 (1) (c) 5. A local professional football stadium district created under subch. IV of ch. 229.

AB892-SSA1, s. 42 Section 42. 71.10 (5e) of the statutes is created to read:

AB892-SSA1,13,21 71.10 (5e) Local professional football stadium district debt service donation. (a) Definitions. In this subsection:

AB892-SSA1,13,22 1. "Department" means the department of revenue.

AB892-SSA1,13,25 2. "Football donation" means a designation made under this subsection, the net proceeds of which shall be deposited into the fund under s. 229.8257 to be used for maintenance and operating costs of a football stadium under s. 229.821 (6).

AB892-SSA1,14,4 (b) Voluntary payments. 1. `Designation on return.' Every individual filing an income tax return who has a tax liability or is entitled to a tax refund may designate on the return any amount of additional payment or any amount of a refund due that individual as a football donation.

AB892-SSA1,14,7 2. `Designation added to tax owed.' If the individual owes any tax, the individual shall remit in full the tax due and the amount designated on the return as a football donation when the individual files a tax return.

AB892-SSA1,14,11 3. `Designation deducted from refund.' Except as provided under par. (d), if the individual is owed a refund for that year after crediting under ss. 71.75 (9) and 71.80 (3), the department shall deduct the amount designated on the return as a football donation from the amount of the refund.

AB892-SSA1,14,14 (c) Errors; failure to remit correct amount. If an individual who owes taxes fails to remit an amount equal to or in excess of the total of the actual tax due, after error corrections, and the amount designated on the return as a football donation:

AB892-SSA1,14,19 1. The department shall reduce the designation for the football donation to reflect the amount remitted in excess of the actual tax due, after error corrections, if the individual remitted an amount in excess of the actual tax due, after error corrections, but less than the total of the actual tax due, after error corrections, and the amount originally designated on the return as a football donation.

AB892-SSA1,14,21 2. The designation for the football donation is void if the individual remitted an amount equal to or less than the actual tax due, after error corrections.

AB892-SSA1,15,2 (d) Errors; insufficient refund. If an individual who is owed a refund that does not equal or exceed the amount designated on the return as a football donation, after crediting under ss. 71.75 (9) and 71.80 (3) and after error corrections, the department shall reduce the designation for the football donation to reflect the actual amount of the refund the individual is otherwise owed, after crediting under ss. 71.75 (9) and 71.80 (3) and after error corrections.

AB892-SSA1,15,4 (e) Conditions. If an individual places any conditions on a designation for the football donation, the designation is void.

AB892-SSA1,15,7 (f) Void designation. If a designation for the football donation is void, the department shall disregard the designation and determine amounts due, owed, refunded and received without regard to the void designation.

AB892-SSA1,15,11 (g) Tax return. The secretary of revenue shall provide a place for the designations under this subsection on the individual income tax return, and the secretary shall highlight that place on the return by a symbol chosen by the department that relates to a football stadium, as defined in s. 229.821 (6).

AB892-SSA1,15,14 (h) Certification of amounts. Annually, on or before September 15, the secretary of revenue shall certify to the district board under subch. IV of ch. 229, the department of administration and the state treasurer:

AB892-SSA1,15,17 1. The total amount of the administrative costs, including data processing costs, incurred by the department in administering this subsection during the previous fiscal year.

AB892-SSA1,15,19 2. The total amount received from all designations for football donations made by taxpayers during the previous fiscal year.

AB892-SSA1,15,22 3. The net amount remaining after the administrative costs, including data processing costs, under subd. 1. are subtracted from the total received under subd. 2.

AB892-SSA1,16,4 4. From the moneys received from designations for football donations, an amount equal to the sum of administrative expenses, including data processing costs, certified under subd. 1. shall be deposited into the general fund and credited to the appropriation under s. 20.566 (1) (hp), and the net amount remaining that is certified under subd. 3. shall be deposited into the fund created under s. 229.8257 and credited for maintenance and operating costs of a football stadium under s. 229.821 (6).

AB892-SSA1,16,11 (i) Amounts subject to refund. Amounts designated for football donations under this subsection are not subject to refund to the taxpayer unless the taxpayer submits information to the satisfaction of the department within 18 months after the date on which taxes are due or the date on which the return is filed, whichever is later, that the amount designated is clearly in error. Any refund granted by the department under this subdivision shall be deducted from the moneys received under this subsection in the fiscal year that the refund is certified.

AB892-SSA1, s. 43 Section 43. 71.26 (1) (bm) of the statutes is amended to read:

AB892-SSA1,16,16 71.26 (1) (bm) Certain local districts. Income of a local exposition district created under subch. II of ch. 229 or, a local professional baseball park district created under subch. III of ch. 229 or a local professional football stadium district created under subch. IV of ch. 229.

AB892-SSA1, s. 44 Section 44. 71.26 (1m) (g) of the statutes is amended to read:

AB892-SSA1,16,19 71.26 (1m) (g) Those issued under s. 66.066 by a local professional baseball park district or a local professional football stadium district.

AB892-SSA1, s. 45 Section 45. 71.36 (1m) of the statutes is amended to read:

AB892-SSA1,17,17 71.36 (1m) A tax-option corporation may deduct from its net income all amounts included in the Wisconsin adjusted gross income of its shareholders, the capital gain deduction under s. 71.05 (6) (b) 9. and all amounts not taxable to nonresident shareholders under ss. 71.04 (1) and (4) to (9) and 71.362. For purposes of this subsection, interest on federal obligations, obligations issued under s. 66.066 by a local professional baseball park district or a local professional football stadium district, obligations issued under ss. 66.40, 66.431 and 66.4325, obligations issued under s. 234.65 to fund an economic development loan to finance construction, renovation or development of property that would be exempt under s. 70.11 (36) and obligations issued under subch. II of ch. 229 is not included in shareholders' income. The proportionate share of the net loss of a tax-option corporation shall be attributed and made available to shareholders on a Wisconsin basis but subject to the limitation and carry-over rules as prescribed by section 1366 (d) of the internal revenue code. Net operating losses of the corporation to the extent attributed or made available to a shareholder may not be used by the corporation for further tax benefit. For purposes of computing the Wisconsin adjusted gross income of shareholders, tax-option items shall be reported by the shareholders and those tax-option items, including capital gains and losses, shall retain the character they would have if attributed to the corporation, including their character as business income. In computing the tax liability of a shareholder, no credit against gross tax that would be available to the tax-option corporation if it were a nontax-option corporation may be claimed.

AB892-SSA1, s. 46 Section 46. 71.45 (1t) (g) of the statutes is amended to read:

AB892-SSA1,17,20 71.45 (1t) (g) Those issued under s. 66.066 by a local professional baseball park district or a local professional football stadium district.

AB892-SSA1, s. 47 Section 47. 77.54 (45) of the statutes is created to read:

AB892-SSA1,18,5 77.54 (45) The gross receipts from the sale of and the use or other consumption of a onetime license or similar right to purchase admission to professional football games at a football stadium, as defined in s. 229.821 (6), that is granted by a municipality; a local professional football stadium district; or a professional football team or related party, as defined in s. 229.821 (12); if the person who buys the license or right is entitled, at the time the license or right is transferred to the person, to purchase admission to at least 3 professional football games in this state during one football season. The exemption under this subsection does not apply to a license or right that is sold after December 31, 2003.

AB892-SSA1, s. 48 Section 48. 77.705 (title) of the statutes is amended to read:

AB892-SSA1,18,7 77.705 (title) Adoption by resolution; baseball park district.

AB892-SSA1, s. 49 Section 49. 77.706 of the statutes is created to read: