SB332-SSA1,10,1918
(d) That the manager communicate to the beneficiary and account owner the
19requirements of s. 14.64 (8).
SB332-SSA1,10,2521
16.75
(2m) (a)
If Except as otherwise required by law, if the secretary or his or
22her designee determines that the use of competitive sealed bidding is not practicable
23or not advantageous to this state, the department may solicit competitive sealed
24proposals. Each request for competitive sealed proposals shall state the relative
25importance of price and other evaluation factors.
SB332-SSA1,11,42
20.585
(1) (gm)
General program operations; reimbursement. All moneys
3received from the vendor of the college savings program under s. 16.25 (3) (a) for
4general programs operations.
SB332-SSA1,11,86
20.585
(2) (a)
Administrative expenses; general fund. The amounts in the
7schedule for the administrative expenses of the college tuition
prepayment and
8expenses program under s. 14.63, including the expense of promoting the program.
SB332-SSA1,11,1310
20.585
(2) (s)
Administrative expenses; tuition trust fund. From the tuition
11trust fund, the amounts in the schedule for the administrative expenses of the college
12tuition
prepayment and expenses program under s. 14.63, including the expense of
13promoting the program.
SB332-SSA1,11,1916
71.05
(6) (b) 23. Any increase in value of a tuition unit that is purchased under
17a tuition contract under s. 14.63
, except that the subtraction under this subdivision
18may not be claimed by any individual who received a refund under s. 14.63 (7) (a) 2.,
193. or 4.
SB332-SSA1, s. 13h
20Section 13h. 71.05 (6) (b) 28. h. of the statutes is created to read:
SB332-SSA1,11,2521
71.05
(6) (b) 28. h. No modification may be claimed under this subdivision for
22an amount paid for tuition expenses, as described under this subdivision, if the
23source of the payment is an amount withdrawn from a college savings account, as
24described in s. 14.64 or from a college tuition prepayment program, as described in
25s. 14.63.
SB332-SSA1,12,52
71.05
(6) (b) 31. Any increase in value of a college savings account, as described
3in s. 14.64, except that the subtraction under this subdivision may not be claimed by
4any individual who has made an unqualified withdrawal, as described in s. 14.64 (2)
5(e).
SB332-SSA1,12,107
71.05
(6) (b) 32. An amount paid into a college savings account, as described
8in s. 14.64, if the beneficiary of the account either is the claimant or is the claimant's
9child and the claimant's dependent who is claimed under section
151 (c) of the
10Internal Revenue Code, calculated as follows:
SB332-SSA1,12,1211
a. An amount equal to not more than $3,000 per beneficiary for each year to
12which the claim relates.
SB332-SSA1,12,2313
b. For an individual who is a nonresident or part-year resident of this state,
14multiply the amount calculated under subd. 32. a. by a fraction the numerator of
15which is the individual's wages, salary, tips, unearned income and net earnings from
16a trade or business that are taxable by this state and the denominator of which is the
17individual's total wages, salary, tips, unearned income and net earnings from a trade
18or business. In this subd. 32. b., for married persons filing separately "wages, salary,
19tips, unearned income and net earnings from a trade or business" means the separate
20wages, salary, tips, unearned income and net earnings from a trade or business of
21each spouse, and for married persons filing jointly "wages, salary, tips, unearned
22income and net earnings from a trade or business" means the total wages, salary,
23tips, unearned income and net earnings from a trade or business of both spouses.
SB332-SSA1,13,3
1c. Reduce the amount calculated under subd. 32. a. or b. to the individual's
2aggregate wages, salary, tips, unearned income and net earnings from a trade or
3business that are taxable by this state.
SB332-SSA1,13,85
71.05
(6) (b) 33. An amount paid into a college tuition prepayment program,
6as described in s. 14.63, if the beneficiary of the account either is the claimant or is
7the claimant's child and the claimant's dependent who is claimed under section
151 8(c) of the Internal Revenue Code, calculated as follows:
SB332-SSA1,13,109
a. An amount equal to not more than $3,000 per beneficiary for each year to
10which the claim relates.
SB332-SSA1,13,2111
b. For an individual who is a nonresident or part-year resident of this state,
12multiply the amount calculated under subd. 33. a. by a fraction the numerator of
13which is the individual's wages, salary, tips, unearned income and net earnings from
14a trade or business that are taxable by this state and the denominator of which is the
15individual's total wages, salary, tips, unearned income and net earnings from a trade
16or business. In this subd. 33. b., for married persons filing separately "wages, salary,
17tips, unearned income and net earnings from a trade or business" means the separate
18wages, salary, tips, unearned income and net earnings from a trade or business of
19each spouse, and for married persons filing jointly "wages, salary, tips, unearned
20income and net earnings from a trade or business" means the total wages, salary,
21tips, unearned income and net earnings from a trade or business of both spouses.
SB332-SSA1,13,2422
c. Reduce the amount calculated under subd. 33. a. or b. to the individual's
23aggregate wages, salary, tips, unearned income and net earnings from a trade or
24business that are taxable by this state.
SB332-SSA1,14,2
1815.18
(3) (p)
College savings accounts. An interest in a college savings account
2under s. 14.64.
SB332-SSA1,14,124
(1) (a
) Notwithstanding section 15.07 (1) (b) 2. of the statutes, as created by this
5act, the governor may provisionally appoint initial members of the college savings
6program board under section 14.57 of the statutes, as created by this act. Those
7provisional appointments are in force until the governor withdraws them or the
8senate acts upon them, and if the senate confirms them, they continue for the
9remainder of the unexpired terms, if any, of the members and until successors are
10chosen and qualify. A provisional appointee may exercise all the powers and duties
11of board membership to which the person is appointed during the time in which the
12appointee qualifies.
SB332-SSA1,14,1913
(b) A provisional appointment under paragraph (a) that the governor
14withdraws lapses upon withdrawal and creates a vacancy for the provisional
15appointment of another initial member of the college savings program board. A
16provisional appointment that the governor makes under paragraph (a) and that the
17senate rejects lapses upon rejection and creates a vacancy for nomination and
18appointment under section 15.07 (1) (b) 2. of the statutes, as created by this act, of
19another initial board member.
SB332-SSA1,14,23
20(2) Notwithstanding the length of the terms specified in section 14.57 (6) of the
21statutes, as created by this act, the initial terms of 3 of the members appointed under
22section 14.57 (6) of the statutes, as created by this act, expire on May 1, 2003, and
23the initial terms of 3 of the members expire on May 1, 2005.
SB332-SSA1,15,6
1(1) The treatment of section 71.05 (6) (b) 23., 28. h., 31., 32. and 33. of the
2statutes first applies to taxable years beginning on January 1 of the year in which
3this subsection takes effect, except that if this subsection takes effect after July 31
4the treatment of section 71.05 (6) (b) 28. h., 31. and 32. of the statutes first applies
5to taxable years beginning on January 1 of the year following the year in which this
6subsection takes effect.
SB332-SSA1, s. 16
7Section
16.
Effective dates. This act takes effect on the first day of the 10th
8month following publication, except as follows:
SB332-SSA1,15,109
(1)
The treatment of sections 14.57 and 15.07 (1) (b) 2. of the statutes and
10Section 15 of this act take effect the day after publication.
SB332-SSA1,15,13
11(2) The treatment of sections 14.63 (title), (3) (title), (a) 1. and 3. and (c), (4), (5)
12(a) and (b) (intro.) and 2., (11) (b), (11m) and (13), 14.64 (8) and 20.585 (2) (a) and (s)
13of the statutes takes effect on the first day of the 4th month following publication.