SB55-ASA1-AA1,591,2524
(e) The carry-over provisions of s. 71.28 (4) (e) and (f), as they apply to the credit
25under s. 71.28 (4), apply to the credit under this subsection.
SB55-ASA1-AA1,592,8
1(f) 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 wages under par. (b). A partnership, limited
4liability company, or tax-option corporation shall compute the amount of credit that
5each of its partners, members, or shareholders may claim and shall provide that
6information to each of them. Partners, members of limited liability companies, and
7shareholders of tax-option corporations may claim the credit in proportion to their
8ownership interests.
SB55-ASA1-AA1,592,109
(g) Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4),
10applies to the credit under this subsection.".
SB55-ASA1-AA1,592,1813
71.07
(5) (a) 15. The amount claimed as a deduction for medical care insurance
14under section
213 of the Internal Revenue Code that is exempt from taxation under
15s. 71.05 (6) (b) 17. to 20.
and 34. and the amount claimed as a deduction for a
16long-term care insurance policy under section
213 (d) (1) (D) of the Internal Revenue
17Code, as defined in section
7702B (b) of the Internal Revenue Code that is exempt
18from taxation under s. 71.05 (6) (b) 26.".
SB55-ASA1-AA1,592,2221
71.07
(5s) Conservation land, conservation easement tax credit. (a)
22Definitions. In this subsection:
SB55-ASA1-AA1,593,3
11. "Claimant" means an individual, a sole proprietor, a partner, a member of
2a limited liability company, or a shareholder of a tax-option corporation who files a
3claim under this subsection.
SB55-ASA1-AA1,593,44
2. "Conservation easement" has the meaning given in s. 700.40 (1) (a).
SB55-ASA1-AA1,593,85
3. "Local governmental unit" means a political subdivision of this state, a
6special purpose district in this state, an instrumentality or corporation of such a
7political subdivision or special purpose district, a combination or subunit of any of
8the foregoing, or an instrumentality of the state and any of the foregoing.
SB55-ASA1-AA1,593,109
4. "Nonprofit conservation organization" has the meaning given in s. 23.0955
10(1).
SB55-ASA1-AA1,593,1211
5. "Qualified appraisal" means any appraisal meeting the requirements of the
12regulations prescribed under section
170 (a) (1) of the Internal Revenue Code.
SB55-ASA1-AA1,593,1413
6. "Qualified conservation contribution" has the meaning given in section
170 14(h) of the Internal Revenue Code.
SB55-ASA1-AA1,593,2115
(b)
Filing claims. Subject to the limitations provided in this subsection, a
16claimant may claim as a credit against the tax imposed under s. 71.02 an amount
17equal to 50% of the value, based on a qualified appraisal, of property or a
18conservation easement, to the extent that the property or easement is a qualified
19conservation contribution, that is donated to the state, a local governmental unit, or
20a nonprofit conservation organization in the taxable year in which the donation is
21made or the easement is granted.
SB55-ASA1-AA1,593,2322
(c)
Limitations. 1. The maximum credit that a claimant may claim under this
23subsection in a taxable year is $100,000.
SB55-ASA1-AA1,593,2524
2. No credit may be allowed under this subsection unless it is claimed within
25the time period under s. 71.75 (2).
SB55-ASA1-AA1,594,4
13. Section 71.28 (4) (e) and (f), as it applies to the credit under s. 71.28 (4),
2applies to the credit under this subsection, except that with regard to the carry-over
3provisions in s. 71.28 (4) (f) the maximum number of years that the credit under this
4subsection may be carried forward is 10 years.
SB55-ASA1-AA1,594,125
4. Partnerships, limited liability companies, and tax-option corporations may
6not claim the credit under this subsection, but the eligibility for, and the amount of,
7the credit are based on the amount calculated under par. (b). A partnership, limited
8liability company, or tax-option corporation shall compute the amount of credit that
9each of its partners, members, or shareholders may claim and shall provide that
10information to each of them. Partners, members of limited liability companies, and
11shareholders of tax-option corporations may claim the credit in proportion to their
12ownership interest.
SB55-ASA1-AA1,594,1413
(5) Part-year residents and nonresidents of this state are not eligible for the
14credit under this subsection.
SB55-ASA1-AA1,594,1915
(d)
Administration. The department of revenue may enforce the credit under
16this subsection and may take any action, conduct any proceeding, and proceed as it
17is authorized in respect to taxes under this chapter. The income tax provisions in this
18chapter relating to assessments, refunds, appeals, collection, interest, and penalties
19apply to the credit under this subsection.".
SB55-ASA1-AA1,594,2222
71.10
(4) (cd) The education credit under s. 71.07 (5r).".
SB55-ASA1-AA1,595,2
171.10
(4) (cp) Industrial, service, and skilled trades apprenticeship credit
2under s. 71.07 (5d).".
SB55-ASA1-AA1,595,4
4"
Section 2150t. 71.10 (3) (a) (title) of the statutes is created to read:
SB55-ASA1-AA1,595,55
71.10
(3) (a) (title)
Voluntary payments.
SB55-ASA1-AA1, s. 2150tb
6Section 2150tb. 71.10 (3) (a) of the statutes is renumbered 71.10 (3) (a) 1. and
7amended to read:
SB55-ASA1-AA1,595,148
71.10
(3) (a) 1.
`Designation on return.' Every Any individual filing an income
9tax return
who has a tax liability or is entitled to a tax refund may designate
on the
10return an additional payment in the amount of $1 or a deduction from any refund due
11that individual in the amount of $1 for the Wisconsin election campaign fund for the
12use of eligible candidates under s. 11.50. If
the individuals filing a married couple
13files a joint return
have a tax liability or are entitled to a tax refund, each individual
14spouse may make a designation of $1 under this subsection.
SB55-ASA1-AA1,595,1816
71.10
(3) (a) 2. `Designation added to tax owed.' If the individual owes any tax,
17the individual shall remit in full the tax due and an additional $1 for the Wisconsin
18election campaign fund when the individual files a tax return.
SB55-ASA1-AA1,595,2219
3. `Designation deducted from refund.' Except as provided under par. (c) if the
20individual is owed a refund for that year after crediting under ss. 71.75 (9) and 71.80
21(3), the department of revenue shall deduct $1 for the Wisconsin election campaign
22fund from the amount of the refund.
SB55-ASA1-AA1, s. 2150te
23Section 2150te. 71.10 (3) (b) of the statutes is renumbered 71.10 (3) (f) and
24amended to read:
SB55-ASA1-AA1,596,17
171.10
(3) (f)
Administration, certification of amounts confidentiality. The
2secretary of revenue shall provide a place for those designations on the face of the
3individual income tax return and shall provide next to that place a statement that
4a designation will
not increase tax liability
or reduce a refund. Annually on August
515, the secretary of revenue shall certify to the elections board, the department of
6administration and the state treasurer under s. 11.50 the total amount
of received
7from all designations made during the preceding fiscal year.
If any individual
8attempts to place any condition or restriction upon a designation, that individual is
9deemed not to have made a designation on his or her tax return
Amounts designated
10for the Wisconsin election campaign fund under this subsection are not subject to
11refund to the taxpayer unless the taxpayer submits information to the satisfaction
12of the department of revenue within 18 months after the date taxes are due or the
13date the return is filed, whichever is later, that the amount designated is clearly in
14error. Any refund granted by the department of revenue under this subdivision shall
15be deducted from the moneys received under this subsection in the fiscal year that
16the refund is certified. The names of persons making designations under this
17subsection shall be strictly confidential.
SB55-ASA1-AA1,596,2319
71.10
(3) (bm)
Errors; failure to remit correct amount. If an individual who
20owes a tax fails to remit an amount equal to or in excess of the total of the actual tax
21due, after error corrections, and the amount designated on the return for the
22Wisconsin election campaign fund, the designation for the Wisconsin election
23campaign fund is void.
SB55-ASA1-AA1,597,3
171.10
(3) (c)
Errors; insufficient refund. If an individual is owed a refund that
2does not equal or exceed $1, after crediting under ss. 71.75 (9) and 71.80 (3) and after
3error corrections, the designation for the Wisconsin election campaign fund is void.
SB55-ASA1-AA1,597,65
71.10
(3) (d)
Conditions. If an individual places any conditions on a designation
6for the Wisconsin election campaign fund, the designation is void.
SB55-ASA1-AA1,597,118
71.10
(3) (e)
Void designation. If a designation for the Wisconsin election
9campaign fund is void, the department of revenue shall disregard the designation
10and determine amounts due, owed, refunded and received without regard to the void
11designation.".
SB55-ASA1-AA1,597,1514
71.10
(4) (cs) Conservation land, conservation easement tax credit under s.
1571.07 (5s).".
SB55-ASA1-AA1,597,2118
71.10
(5) (h)
Certification of amounts. (intro.) Annually, on or before
19September 15, the secretary of revenue shall certify to the department of
natural
20resources fish, wildlife, parks, and forestry, the department of administration and
21the state treasurer:".
SB55-ASA1-AA1,597,24
23992. Page 741, line 22: delete that line and substitute "(2dj), (2dL),
(2dm), 24(2ds), (2dx)
and, (3g), (3s)
, and (5s) and passed through to partners".
