SB45-SSA1-SA1,197,2011
71.05
(6) (b) 30. For taxable years beginning after December 31, 1998, any
12settlement received for claims against any person for any recovered assets, or any
13amount of assets or any gain generated on such assets, that were stolen from, hidden
14from or otherwise lost by an individual who was persecuted by Nazi Germany or any
15Axis regime during any period from 1933 to 1945 and have been recovered, returned
16or otherwise paid to the original victim or his or her heirs or beneficiaries. The assets
17to which this subdivision applies includes cash, bonds, stocks, deposits in a financial
18institution, proceeds from a life or other type of insurance policy, jewelry, precious
19metals, artwork or any other item of value owned by such a victim during any period
20from 1920 to 1945.".
SB45-SSA1-SA1,198,6
171.05
(6) (b) 31. An amount paid by an employer to an employe for the purchase
2of a public transportation pass, token or fare card, or the value of such a pass, token
3or fare card provided by an employer to an employe, if the money provided for, or the
4value of, the pass, token or fare card exceeds the amount that may be excluded from
5federal gross income under section
132 (a) (5) of the Internal Revenue Code for a
6transit pass under section
132 (f) (1) (B) of the Internal Revenue Code per month.".
SB45-SSA1-SA1,199,920
71.06
(2e) Bracket indexing. For taxable years beginning after December 31,
211998, the maximum dollar amount in each tax bracket, and the corresponding
22minimum dollar amount in the next bracket, under subs. (1m) and (2) (c) and (d) shall
23be increased each year by a percentage equal to the percentage change between the
24U.S. consumer price index for all urban consumers, U.S. city average, for the month
1of August of the previous year and the U.S. consumer price index for all urban
2consumers, U.S. city average, for the month of August
of the year before the previous
3year 1997, as determined by the federal department of labor. Each amount that is
4revised under this subsection shall be rounded to the nearest multiple of $10 if the
5revised amount is not a multiple of $10 or, if the revised amount is a multiple of $5,
6such an amount shall be increased to the next higher multiple of $10. The
7department of revenue shall annually adjust the changes in dollar amounts required
8under this subsection and incorporate the changes into the income tax forms and
9instructions.".
SB45-SSA1-SA1,199,2013
71.07
(3m) (b) 1. a. Subject to the limitations provided in this subsection and
14s. 71.80 (3) and (3m), a claimant may claim as a credit against Wisconsin income
15taxes otherwise due, the amount derived under par. (c). If the allowable amount of
16claim exceeds the income taxes otherwise due on the claimant's income or if there are
17no Wisconsin income taxes due on the claimant's income, the amount of the claim not
18used as an offset against income taxes shall be certified to the department of
19administration for payment to the claimant by check, share draft or other draft paid
20from the
appropriation appropriations under s. 20.835 (2)
(ka) and (q).".
SB45-SSA1-SA1,199,2424
71.07
(5d) Study abroad credit. (a) In this subsection:
SB45-SSA1-SA1,200,3
11. "Claimant" means a sole proprietor, a partner, a member of a limited liability
2company or a shareholder of a tax-option corporation who files a claim under this
3subsection.
SB45-SSA1-SA1,200,54
2. "Qualified expenses" means expenses related to attending school in a foreign
5country and includes transportation costs, room and board, books and tuition.
SB45-SSA1-SA1,200,76
(b) A claimant may claim as a credit against the tax imposed under s. 71.02 an
7amount equal to $1,000 if all of the following apply:
SB45-SSA1-SA1,200,98
1. The claimant pays or incurs at least $3,000 in qualified expenses on behalf
9of a student who attends school in a foreign country.
SB45-SSA1-SA1,200,1110
2. The student under subd. 1. is a full-time undergraduate student enrolled in
11the University of Wisconsin System.
SB45-SSA1-SA1,200,1312
3. The student under subd. 1. is eligible for a Wisconsin higher education grant
13under s. 39.435.
SB45-SSA1-SA1,200,1614
(c) A claimant may not claim the credit under par. (b) for any tuition amounts
15that the claimant excluded under s. 71.05 (6) (b) 28. or under section
127 of the
16Internal Revenue Code.
SB45-SSA1-SA1,200,1817
(d) The carry-over provisions of s. 71.28 (4) (e) and (f), as they apply to the credit
18under s. 71.28 (4), apply to the credit under this subsection.
SB45-SSA1-SA1,201,219
(e) Partnerships, limited liability companies and tax-option corporations may
20not claim the credit under this subsection, but the eligibility for, and the amount of,
21the credit are based on their payment of qualified expenses under par. (b) 1. A
22partnership, limited liability company or tax-option corporation shall compute the
23amount of credit that each of its partners, members or shareholders may claim and
24shall provide that information to each of them. Partners, members of limited liability
1companies and shareholders of tax-option corporations may claim the credit in
2proportion to their ownership interest.
SB45-SSA1-SA1,201,43
(f) Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4),
4applies to the credit under this subsection.".
SB45-SSA1-SA1,201,198
71.07
(9) (a) 4. "Rent constituting property taxes" means
, in taxable years
9beginning before January 1, 2000, 25% of rent if heat is not included, or 20% of rent
10if heat is included, paid during the taxable year for which credit is claimed under this
11subsection, at arm's length, for the use of a principal dwelling and contiguous land,
12excluding any payment for domestic, food, medical or other services which are
13unrelated to use of the dwelling as housing, less any rent paid that is properly
14includable as a trade or business expense under the internal revenue code. "Rent"
15includes space rental paid to a landlord for parking a mobile home. Rent shall be
16apportioned among the occupants of a principal dwelling according to their
17respective contribution to the total amount of rent paid. "Rent" does not include rent
18paid for the use of housing which was exempt from property taxation, except housing
19for which payments in lieu of taxes were made under s. 66.40 (22).
SB45-SSA1-SA1,202,821
71.07
(9) (a) 5. "Rent constituting property taxes" means, in taxable years
22beginning after December 31, 1999, 35% of rent if heat is not included, or 30% of rent
23if heat is included, paid during the taxable year for which credit is claimed under this
24subsection, at arm's length, for the use of a principal dwelling and contiguous land,
1excluding any payment for domestic, food, medical or other services which are
2unrelated to use of the dwelling as housing, less any rent paid that is properly
3includable as a trade or business expense under the Internal Revenue Code. "Rent"
4includes space rental paid to a landlord for parking a mobile home. Rent shall be
5apportioned among the occupants of a principal dwelling according to their
6respective contribution to the total amount of rent paid. "Rent" does not include rent
7paid for the use of housing which was exempt from property taxation, except housing
8for which payments in lieu of taxes were made under s. 66.40 (22).
SB45-SSA1-SA1,202,1610
71.07
(9) (b) 1.
Subject For taxable years beginning before January 1, 1998, and
11for taxable years beginning after December 31, 1998 and before January 1, 2000,
12subject to the limitations under this subsection and except as provided in subd. 2.,
13a claimant may claim as a credit against, but not to exceed the amount of, taxes under
14s. 71.02, 10% of the first $2,000 of property taxes or rent constituting property taxes,
15or 10% of the first $1,000 of property taxes or rent constituting property taxes of a
16married person filing separately.
SB45-SSA1-SA1,202,2318
71.07
(9) (b) 3. For taxable years beginning after December 31, 1999, subject
19to the limitations under this subsection, a claimant may claim as a credit against,
20but not to exceed the amount of, taxes under s. 71.02, 10% of the first $2,000 of
21property taxes or 14.1% of the first $2,000 of rent constituting property taxes, or 10%
22of the first $1,000 of property taxes or 14.1% of the first $1,000 of rent constituting
23property taxes of a married person filing separately.".
SB45-SSA1-SA1,203,4
2752. Page 851, line 2: delete the material beginning with "(2m)" and ending
3with "(2m) and (3)" on line 3 and substitute "(2m)
and, (3)
and (5d) and 71.47 (1dd),
4(1de), (1di), (1dj), (1dL), (1ds), (1dx),
(1dy), (1fd), (2m)
and, (3)
and (5d)".
SB45-SSA1-SA1,203,127
71.10
(4) (i) The total of claim of right credit under s. 71.07 (1), farmland
8preservation credit under subch. IX, homestead credit under subch. VIII, farmland
9tax relief credit under s. 71.07 (3m), farmers' drought property tax credit under s.
1071.07 (2fd),
study abroad credit under s. 71.07 (5d), earned income tax credit under
11s. 71.07 (9e), estimated tax payments under s. 71.09, and taxes withheld under
12subch. X.".
SB45-SSA1-SA1,204,7
171.23
(3) (d) The storage for any length of time in this state in or on property
2owned by a person, other than the foreign corporation, of the foreign corporation's
3tangible personal property, if the tangible personal property is used in this state by
4another person for fabricating, processing, manufacturing or printing on the parcel
5of property in or on which the tangible personal property is stored and if the parcel
6of property has an assessed value, for property tax purposes, of at least $10,000,000
7but no more than $11,000,000 on January 1, 1999.".
SB45-SSA1-SA1,204,2113
71.26
(3) (e) 1. So that payments for wages, salaries, commissions and bonuses
14of employes and officers may be deducted only if the name, address and amount paid
15to each resident of this state to whom compensation of $600 or more has been paid
16during the taxable year is reported or if the department of revenue is satisfied that
17failure to report has resulted in no revenue loss to this state.
A deduction for wages,
18salaries, commissions and bonuses paid to an employe or officer shall not exceed an
19amount equal to the wages, salaries, commissions and bonuses paid to the
20corporation's lowest paid full-time employe during the taxable year multiplied by
2125.".
SB45-SSA1-SA1,205,1
1"
Section 1744be. 71.28 (2m) (b) 1. a. of the statutes is amended to read:
SB45-SSA1-SA1,205,92
71.28
(2m) (b) 1. a. Subject to the limitations provided in this subsection and
3s. 71.80 (3) and (3m), a claimant may claim as a credit against Wisconsin income
4taxes otherwise due, the amount derived under par. (c). If the allowable amount of
5claim exceeds the income taxes otherwise due on the claimant's income or if there are
6no Wisconsin income taxes due on the claimant's income, the amount of the claim not
7used as an offset against income taxes shall be certified to the department of
8administration for payment to the claimant by check, share draft or other draft paid
9from the
appropriation appropriations under s. 20.835 (2)
(ka) and (q).".
SB45-SSA1-SA1,205,1212
71.28
(5d) Study abroad credit. (a) In this subsection:
SB45-SSA1-SA1,205,1313
1. "Claimant" means a corporation that files a claim under this subsection.
SB45-SSA1-SA1,205,1514
2. "Qualified expenses" means expenses related to attending school in a foreign
15country and includes transportation costs, room and board, books and tuition.
SB45-SSA1-SA1,205,1716
(b) A claimant may claim as a credit against the tax imposed under s. 71.23 an
17amount equal to $1,000 if all of the following apply:
SB45-SSA1-SA1,205,1918
1. The claimant pays or incurs at least $3,000 in qualified expenses on behalf
19of a student who attends school in a foreign country.
SB45-SSA1-SA1,205,2120
2. The student under subd. 1. is a full-time undergraduate student enrolled in
21the University of Wisconsin System.
SB45-SSA1-SA1,205,2322
3. The student under subd. 1. is eligible for a Wisconsin higher education grant
23under s. 39.435.
SB45-SSA1-SA1,206,3
1(c) A claimant may not claim the credit under par. (b) for any tuition amounts
2that the claimant excluded under s. 71.05 (6) (b) 28. or under section
127 of the
3Internal Revenue Code.
SB45-SSA1-SA1,206,54
(d) The carry-over provisions of sub. (4) (e) and (f), as they apply to the credit
5under sub. (4), apply to the credit under this subsection.
SB45-SSA1-SA1,206,136
(e) Partnerships, limited liability companies and tax-option corporations may
7not claim the credit under this subsection, but the eligibility for, and the amount of,
8the credit are based on their payment of qualified expenses under par. (b) 1. A
9partnership, limited liability company or tax-option corporation shall compute the
10amount of credit that each of its partners, members or shareholders may claim and
11shall provide that information to each of them. Partners, members of limited liability
12companies and shareholders of tax-option corporations may claim the credit in
13proportion to their ownership interest.
SB45-SSA1-SA1,206,1514
(f) Subsection (4) (g) and (h), as it applies to the credit under sub. (4), applies
15to the credit under this subsection.".
SB45-SSA1-SA1,206,2118
71.30
(3) (f) The total of farmers' drought property tax credit under s. 71.28
19(1fd), farmland preservation credit under subch. IX, farmland tax relief credit under
20s. 71.28 (2m)
, study abroad credit under s. 71.28 (5d) and estimated tax payments
21under s. 71.29.".
SB45-SSA1-SA1,207,6
6"
Section 1757be. 71.47 (2m) (b) 1. a. of the statutes is amended to read:
SB45-SSA1-SA1,207,147
71.47
(2m) (b) 1. a. Subject to the limitations provided in this subsection and
8s. 71.80 (3) and (3m), a claimant may claim as a credit against Wisconsin income
9taxes otherwise due, the amount derived under par. (c). If the allowable amount of
10claim exceeds the income taxes otherwise due on the claimant's income or if there are
11no Wisconsin income taxes due on the claimant's income, the amount of the claim not
12used as an offset against income taxes shall be certified to the department of
13administration for payment to the claimant by check, share draft or other draft paid
14from the
appropriation appropriations under s. 20.835 (2)
(ka) and (q).".
