SB55-ASA1-AA1,575,1515
70.511
(2) (b) If the reviewing authority reduces the value of the property in
16question, or determines that manufacturing property is exempt, the taxpayer may
17file a claim for refund of taxes resulting from the reduction in value or determination
18that the property is exempt.
If Except as provided in par. (bm), if a claim for refund
19is filed with the clerk of the municipality on or before the November 1 following the
20decision of the reviewing authority, the claim shall be payable to the taxpayer from
21the municipality no later than January 31 of the succeeding year.
A Except as
22provided in par. (bm), a claim filed after November 1 shall be paid to the taxpayer by
23the municipality no later than the 2nd January 31 after the claim is filed.
Interest 24Except for claims related to property assessed under s. 70.995, interest on the claim
1at the rate of 0.8% per month shall be paid to the taxpayer when the claim is paid.
2Interest on claims related to property assessed under s. 70.995 shall be paid when
3the claim is made at the average annual discount interest rate determined by the last
4auction of 6-month U.S. treasury bills before an appeal or objection is filed under s.
570.995 (8) or 10% per year, whichever is less. If the taxpayer requests a
6postponement of proceedings before the reviewing authority, interest on the claim
7shall permanently stop accruing at the date of the request. If the hearing is
8postponed at the request of the taxpayer, the reviewing authority shall hold a
9hearing on the appeal within 30 days after the postponement is requested unless the
10taxpayer agrees to a longer delay. If the reviewing authority postpones the hearing
11without a request by the taxpayer, interest on the claim shall continue to accrue. No
12interest may be paid if the reviewing authority determines under s. 70.995 (8) (a) that
13the value of the property was reduced because the taxpayer supplied false or
14incomplete information. If taxes are refunded, the municipality may proceed under
15s. 74.41.
SB55-ASA1-AA1,575,2117
70.511
(2) (bm) A municipality may pay a refund under par. (b) of the taxes on
18property that is assessed under s. 70.995 in 5 annual installments, each of which
19except the last is equal to at least 20% of the sum of the refund and the interest on
20the refund that is due, beginning on the date under par. (b), if all of the following
21conditions exist:
SB55-ASA1-AA1,575,2322
1. The municipality's property tax levy for its general operations for the year
23for which the taxes to be refunded are due is less than $100,000,000.
SB55-ASA1-AA1,575,2524
2. The refund is at least 0.0025% of the municipality's levy for its general
25operations for the year for which the taxes to be refunded are due.
SB55-ASA1-AA1,576,1
13. The refund is more than $10,000.
SB55-ASA1-AA1,576,83
70.511
(2) (br) From the appropriation under s. 20.835 (2) (bm), the department
4of administration shall pay to each municipality that pays a refund under par. (b) for
5property that is assessed under s. 70.995 or that pays a refund under par. (bm) an
6amount equal to the interest that is paid by the municipality in the previous
7biennium and that has accrued up to the date of the determination by the tax appeals
8commission of the municipality's obligation.".
SB55-ASA1-AA1,576,1311
70.995
(12r) The department of revenue shall calculate the value of property
12that is used in manufacturing, as defined in this section, and that is exempt under
13s. 70.11 (39)
, as provided under s. 79.095 (3) (b).".
SB55-ASA1-AA1,580,189
71.01
(6) (pm) For taxable years beginning after December 31, 2000, and before
10January 1, 2002, for natural persons, fiduciaries, except fiduciaries of nuclear
11decommissioning trust or reserve funds, "Internal Revenue Code" means the federal
12Internal Revenue Code as amended by sections 411, 412 (a), 611 (a), 635, 636 (b), 641
13to 646, 655, 658, and 701 of P.L.
107-16 and as indirectly affected by sections 411,
14412 (a), 611 (a), 635, 636 (b), 641 to 646, 655, 658, and 701 of P.L.
107-16. The Internal
15Revenue Code applies for Wisconsin purposes at the same time as for federal
16purposes. Amendments to the federal Internal Revenue Code enacted after June 30,
172001, do not apply to this paragraph with respect to taxable years beginning after
18December 31, 2000, and before January 1, 2002.".
SB55-ASA1-AA1,580,2321
71.05
(1) (am)
Military retirement systems. All retirement payments, other
22than surviving spouse benefits, received from the U.S. military employee retirement
23system, to the extent that such payments are not exempt under par. (a).
SB55-ASA1-AA1,581,5
171.05
(1) (an)
Uniformed services retirement benefits. All retirement payments
2received by an individual from the U.S. government that relate to the individual's
3service with the coast guard, the commissioned corps of the national oceanic and
4atmospheric administration, or the commissioned corps of the public health service,
5to the extent that such payments are not exempt under par. (a) or (am).".
SB55-ASA1-AA1,581,9
8970. Page 728, line 20: delete that line and substitute "(2di), (2dj), (2dL),
9(2dm) (2dr), (2ds), (2dx)
and, (3g), (3s)
, and (5s) and not passed through".
SB55-ASA1-AA1,582,1212
71.05
(11) (a) The federal adjusted basis at the end of the calendar year 1968
13or corresponding fiscal year of waste treatment plant or pollution abatement
14equipment acquired pursuant to order or recommendation of the committee on water
15pollution, state board of health, city council, village board or county board pursuant
16to s. 59.07 (53) or (85), 1971 stats., may be treated as a subtraction modification on
17the return of the calendar year 1969 or corresponding fiscal year but not in later
18years. In case of such subtraction an add modification shall be made in 1969 and
19later taxable years to reverse federal depreciation or amortization of such basis or
20to correct gain or loss on disposition. The cost of such plant or equipment acquired
21in 1969 or thereafter pursuant to order, recommendation or approval of the
22committee on water pollution, department of resource development, department of
23natural resources fish, wildlife, parks, and forestry, department of environmental
24management, state board of health, city council, village board, or county board
1pursuant to s. 59.07 (53) or (85), 1971 stats., (less any federal depreciation or
2amortization taken) may be deducted as a subtraction modification or as subtraction
3modifications in the year or years in which paid or accrued, dependent on the method
4of accounting employed. In case of such election, appropriate add modifications shall
5be made in subsequent years to reverse federal depreciation or amortization or to
6correct gain or loss on disposition. This paragraph is intended to apply only to
7depreciable property except that where wastes are disposed of through a lagoon
8process, lagooning costs and the cost of land containing such lagoons may be treated
9as depreciable property for purposes of this paragraph. In no event may any amount
10in excess of cost be deducted. The taxpayer shall file with the department copies of
11all recommendations, orders or approvals relating to installation of such property
12and such other documents or data relating thereto as the department requests.".
SB55-ASA1-AA1,582,1916
71.05
(6) (b) 32. (intro.) An amount paid into a college savings account, as
17described in s. 14.64, if the beneficiary of the account either is the claimant
or; is the
18claimant's child and the claimant's dependent who is claimed under section
151 (c)
19of the Internal Revenue Code
,; or is the claimant's grandchild; calculated as follows:
SB55-ASA1-AA1,583,1322
71.05
(6) (b) 32. a. An amount equal to not more than $3,000 per beneficiary
23by a claimant for contributions to an account for each year to which the claim relates
,
24except that the total amount for which a deduction may be claimed under this
1subdivision and under subd. 33., per beneficiary by any claimant may not exceed
2$3,000 each year. The deduction limit under this subdivision for a married couple
3that files a joint income tax return is $3,000 per beneficiary for each year. The total
4deduction that may be claimed by a married couple under this subdivision and under
5subd. 33., per beneficiary, is $3,000 each year if the couple files a joint income tax
6return. The deduction limit under this subdivision for a grandparent is $1,500 per
7beneficiary for each year, or $3,000 if the grandparent is widowed or a widower. The
8total deduction that may be claimed by a grandmother and a grandfather who are
9married to each other, or by a grandparent who is widowed or a widower, under this
10subdivision and under subd. 33., per beneficiary, is $3,000 each year. The total
11deduction that may be claimed by a grandmother and a grandfather, who are not
12married to each other, under this subdivision and under subd. 33., per beneficiary,
13is $3,000 each year.
SB55-ASA1-AA1,583,2016
71.05
(6) (b) 33. (intro.) An amount paid into a college tuition and expenses
17program, as described in s. 14.63, if the beneficiary of the account either is the
18claimant
or; is the claimant's child and the claimant's dependent who is claimed
19under section
151 (c) of the Internal Revenue Code
,; or is the claimant's grandchild; 20calculated as follows:
SB55-ASA1-AA1,584,1223
71.05
(6) (b) 33. a. An amount equal to not more than $3,000 per beneficiary
24by a claimant for contributions to an account for each year to which the claim relates
,
25except that the total amount for which a deduction may be claimed under this
1subdivision and under subd. 32., per beneficiary by any claimant may not exceed
2$3,000 each year. The deduction limit under this subdivision for a married couple
3that files a joint income tax return is $3,000 per beneficiary for each year. The total
4deduction that may be claimed by a married couple under this subdivision and under
5subd. 32., per beneficiary, is $3,000 each year if the couple files a joint income tax
6return. The deduction limit under this subdivision for a grandparent is $1,500 per
7beneficiary for each year, or $3,000 if the grandparent is widowed or a widower. The
8total deduction that may be claimed by a grandmother and a grandfather, or by a
9grandparent who is widowed or a widower, under this subdivision and under subd.
1032., per beneficiary, is $3,000 each year. The total deduction that may be claimed by
11a grandmother and a grandfather, who are not married to each other, under this
12subdivision and under subd. 32., per beneficiary, is $3,000 each year.".
SB55-ASA1-AA1,584,1815
71.05
(6) (b) 21. The
difference between the amount of social security benefits
16included in federal adjusted gross income for the current year
and the amount as 17calculated under section
86 of the
internal revenue code as that section existed on
18December 31, 1992 Internal Revenue Code.".
