Amendment CA1-SSA1-SB55

SB55-SSA1-CA1,402,3 1047. Page 797, line 24: after that line insert:

SB55-SSA1-CA1,402,4 " Section 2178k. 71.28 (1dx) (b) (intro.) of the statutes is amended to read:

SB55-SSA1-CA1,402,10 71.28 (1dx) (b) Credit. (intro.) Except as provided in pars. (be) and (bg) and in s. 73.03 (35), and subject to s. 560.785, for any taxable year for which the person is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3) or, 560.797 (4) or 560.798 (3), any person may claim as a credit against taxes imposed on the person's income from the person's business activities in a development zone under this subchapter the following amounts:

SB55-SSA1-CA1, s. 2178m Section 2178m. 71.28 (1dx) (be) of the statutes is created to read:

SB55-SSA1-CA1,402,16 71.28 (1dx) (be) Offset. A claimant in a development zone under s. 560.795 (1) (e) may offset any credits claimed under this subsection, including any credits carried over, against the amount of the tax otherwise due under this subchapter attributable to all of the claimant's income and against the tax attributable to income from directly related business operations of the claimant.

SB55-SSA1-CA1, s. 2178p Section 2178p. 71.28 (1dx) (bg) of the statutes is created to read:

SB55-SSA1-CA1,403,7 71.28 (1dx) (bg) Other entities. For claimants in a development zone under s. 560.795 (1) (e), partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and amount of, that credit shall be determined on the basis of their economic activity, not that of their shareholders, partners, or members. The corporation, partnership, or company shall compute the amount of the credit that may be claimed by each of its shareholders, partners, or members and shall provide that information to each of its shareholders, partners, or members. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit based on the partnership's, company's, or corporation's activities in proportion to their ownership interest and may offset it against the tax attributable to their income from all of the partnership's, company's, or corporation's business operations and against the tax attributable to their income from the partnership's, company's, or corporation's directly related business operations.".

SB55-SSA1-CA1,403,8 1048. Page 798, line 22: after that line insert:

SB55-SSA1-CA1,403,9 " Section 2179d. 71.28 (9t) of the statutes is created to read:

SB55-SSA1-CA1,403,11 71.28 (9t) Artistic endowment credit. (a) Definition. In this subsection, "claimant" means a person who files a claim under this subsection.

SB55-SSA1-CA1,403,16 (b) Filing claims. For taxable years beginning after December 31, 2002, subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.23, up to the amount of those taxes, an amount equal to 10% of the amount contributed to the artistic endowment fund under s. 25.78, up to a maximum credit of $500 in a taxable year.

SB55-SSA1-CA1,403,20 (c) Limitations and conditions. 1. No new claim may be filed under this subsection for a taxable year that begins after December 31 of the year in which the department determines that the total amount of revenues received by the endowment fund equals $50,150,000.

SB55-SSA1-CA1,403,22 2. No credit may be allowed under this subsection unless it is claimed within the time period under s. 71.75 (2).

SB55-SSA1-CA1,403,24 (d) Administration. Subsection (4) (e) and (g), as it applies to the credit under sub. (4), applies to the credit under this subsection.

SB55-SSA1-CA1, s. 2179h Section 2179h. 71.30 (3) (bm) of the statutes is created to read:

SB55-SSA1-CA1,404,2 71.30 (3) (bm) Artistic endowment credit under s. 71.28 (9t).".

SB55-SSA1-CA1,404,4 1049. Page 822, line 7: delete the material beginning with that line and ending with page 826, line 6.

SB55-SSA1-CA1,404,5 1050. Page 826, line 16: after that line insert:

SB55-SSA1-CA1,404,6 " Section 2190m. 71.47 (1di) (b) 1. of the statutes is amended to read:

SB55-SSA1-CA1,404,14 71.47 (1di) (b) 1. Except as provided in subd. 2., the credit, including any credits carried over, may be offset only against the amount of the tax otherwise due under this chapter attributable to income from the business operations of the claimant in the development zone; except that a claimant in a development zone under s. 560.795 (1) (e) may offset the credit, including any credits carried over, against the amount of the tax otherwise due under this chapter attributable to all of the claimant's income; and against the tax attributable to income from directly related business operations of the claimant.

SB55-SSA1-CA1, s. 2190p Section 2190p. 71.47 (1di) (b) 3. of the statutes is amended to read:

SB55-SSA1-CA1,405,7 71.47 (1di) (b) 3. Partnerships, limited liability companies and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and amount of, that credit shall be determined on the basis of their economic activity, not that of their shareholders, partners or members. The corporation, partnership or limited liability company shall compute the amount of the credit that may be claimed by each of its shareholders, partners or members and shall provide that information to each of its shareholders, partners or members. Partners, members of limited liability companies and shareholders of tax-option corporations may claim the credit based on the partnership's, company's or corporation's activities in proportion to their ownership interest and may offset it against the tax attributable to their income from the partnership's, company's or corporation's business operations in the development zone; except that a claimant in a development zone under s. 560.795 (1) (e) may offset the credit, including any credits carried over, against the amount of the tax otherwise due under this chapter attributable to all of the claimant's income; and against the tax attributable to their income from the partnership's, company's or corporation's directly related business operations.".

SB55-SSA1-CA1,405,8 1051. Page 826, line 21: after "(5)" insert "or 560.798 (3)".

SB55-SSA1-CA1,405,9 1052. Page 826, line 24: after "(e)" insert "and (f) or 560.798".

SB55-SSA1-CA1,405,10 1053. Page 828, line 14: after "(5)" insert "or 560.798 (3)".

SB55-SSA1-CA1,405,11 1054. Page 828, line 24: after that line insert:

SB55-SSA1-CA1,405,19 "(hm) Credits claimed under this subsection, including any credits carried over, may be offset only against the amount of the tax otherwise due under this subchapter attributable to income from the business operations of the claimant in the development zone; except that a claimant in a development zone under s. 560.795 (1) (e) may offset credits, including any credits carried over, against the amount of the tax otherwise due under this subchapter attributable to all of the claimant's income; and against the tax attributable to income from directly related business operations of the claimant.".

SB55-SSA1-CA1,405,23 1055. Page 829, line 12: after "zone" insert "; except that partners, members, and shareholders in a development zone under s. 560.795 (1) (e) may offset the credit against the amount of the tax attributable to their income from all of the partnership's, company's, or corporation's business operations;".

SB55-SSA1-CA1,405,24 1056. Page 829, line 16: after "(5)" insert "or 560.798 (3)".

SB55-SSA1-CA1,406,1 1057. Page 829, line 24: after "(5)" insert "or 560.798 (3)".

SB55-SSA1-CA1,406,2 1058. Page 830, line 5: after that line insert:

SB55-SSA1-CA1,406,3 " Section 2191m. 71.47 (1dx) (a) 2. of the statutes is amended to read:

SB55-SSA1-CA1,406,7 71.47 (1dx) (a) 2. "Development zone" means a development zone under s. 560.70, a development opportunity zone under s. 560.795 or an enterprise development zone under s. 560.797, or an agricultural development zone under s. 560.798.".

SB55-SSA1-CA1,406,8 1059. Page 830, line 19: after that line insert:

SB55-SSA1-CA1,406,9 " Section 2192g. 71.47 (1dx) (c) of the statutes is amended to read:

SB55-SSA1-CA1,406,19 71.47 (1dx) (c) Credit precluded. If the certification of a person for tax benefits under s. 560.765 (3) or, 560.797 (4) or 560.798 (3) is revoked, or if the person becomes ineligible for tax benefits under s. 560.795 (3), that person may not claim credits under this subsection for the taxable year that includes the day on which the certification is revoked; the taxable year that includes the day on which the person becomes ineligible for tax benefits; or succeeding taxable years and that person may not carry over unused credits from previous years to offset tax under this chapter for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the person becomes ineligible for tax benefits; or succeeding taxable years.

SB55-SSA1-CA1, s. 2192h Section 2192h. 71.47 (1dx) (d) of the statutes is amended to read:

SB55-SSA1-CA1,407,3 71.47 (1dx) (d) Carry-over precluded. If a person who is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3) or, 560.797 (4) or 560.798 (3) for tax benefits ceases business operations in the development zone during any of the taxable years that that zone exists, that person may not carry over to any taxable year following the year during which operations cease any unused credits from the taxable year during which operations cease or from previous taxable years.".

SB55-SSA1-CA1,407,4 1060. Page 830, line 19: after that line insert:

SB55-SSA1-CA1,407,5 " Section 2192k. 71.47 (1dx) (b) (intro.) of the statutes is amended to read:

SB55-SSA1-CA1,407,11 71.47 (1dx) (b) Credit. (intro.) Except or provided in pars. (be) and (bg) and in s. 73.03 (35), and subject to s. 560.785, for any taxable year for which the person is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3) or, 560.797 (4) or 560.798 (3), any person may claim as a credit against taxes imposed on the person's income from the person's business activities in a development zone under this subchapter the following amounts:

SB55-SSA1-CA1, s. 2192m Section 2192m. 71.47 (1dx) (be) of the statutes is created to read:

SB55-SSA1-CA1,407,17 71.47 (1dx) (be) Offset. A claimant in a development zone under s. 560.795 (1) (e) may offset any credits claimed under this subsection, including any credits carried over, against the amount of the tax otherwise due under this subchapter attributable to all of the claimant's income and against the tax attributable to income from directly related business operations of the claimant.

SB55-SSA1-CA1, s. 2192p Section 2192p. 71.47 (1dx) (bg) of the statutes is created to read:

SB55-SSA1-CA1,408,8 71.47 (1dx) (bg) Other entities. For claimants in a development zone under s. 560.795 (1) (e), partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and amount of, that credit shall be determined on the basis of their economic activity, not that of their shareholders, partners, or members. The corporation, partnership, or company shall compute the amount of the credit that may be claimed by each of its shareholders, partners, or members and shall provide that information to each of its shareholders, partners, or members. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit based on the partnership's, company's, or corporation's activities in proportion to their ownership interest and may offset it against the tax attributable to their income from all of the partnership's, company's, or corporation's business operations and against the tax attributable to their income from the partnership's, company's, or corporation's directly related business operations.".

SB55-SSA1-CA1,408,9 1061. Page 831, line 18: after that line insert:

SB55-SSA1-CA1,408,10 " Section 2193d. 71.47 (9t) of the statutes is created to read:

SB55-SSA1-CA1,408,12 71.47 (9t) Artistic endowment credit. (a) Definition. In this subsection, "claimant" means a person who files a claim under this subsection.

SB55-SSA1-CA1,408,17 (b) Filing claims. For taxable years beginning after December 31, 2002, subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.43, up to the amount of those taxes, an amount equal to 10% of the amount contributed to the artistic endowment fund under s. 25.78, up to a maximum credit of $500 in a taxable year.

SB55-SSA1-CA1,408,21 (c) Limitations and conditions. 1. No new claim may be filed under this subsection for a taxable year that begins after December 31 of the year in which the department determines that the total amount of revenues received by the endowment fund equals $50,150,000.

SB55-SSA1-CA1,408,23 2. No credit may be allowed under this subsection unless it is claimed within the time period under s. 71.75 (2).

SB55-SSA1-CA1,409,2 (d) Administration. Section 71.28 (4) (e) and (g), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

SB55-SSA1-CA1, s. 2193h Section 2193h. 71.49 (1) (bm) of the statutes is created to read:

SB55-SSA1-CA1,409,4 71.49 (1) (bm) Artistic endowment credit under s. 71.47 (9t).".

SB55-SSA1-CA1,409,5 1062. Page 831, line 23: after that line insert:

SB55-SSA1-CA1,409,6 " Section 2200b. 71.93 (1) (a) 3. of the statutes is amended to read:

SB55-SSA1-CA1,409,9 71.93 (1) (a) 3. An amount that the department of health and family services may recover under s. 49.45 (2) (a) 10. or 49.497, if the department of health and family services has certified the amount under s. 49.85.".

SB55-SSA1-CA1,409,10 1063. Page 831, line 23: after that line insert:

SB55-SSA1-CA1,409,11 " Section 2195m. 71.59 (1m) of the statutes is amended to read:

SB55-SSA1-CA1,409,16 71.59 (1m) Permitted uses. The designation by the department of natural resources or by the department of forestry of any farmland in this state, for which a claim under this section may be filed, as part of the ice age trail, under s. 23.17, is a permitted use under a farmland preservation agreement, or a certificate of a zoning authority, under sub. (1) (b).".

SB55-SSA1-CA1,409,17 1064. Page 832, line 6: delete "(b)".

SB55-SSA1-CA1,409,18 1065. Page 832, line 8: delete lines 8 to 11 and substitute:

SB55-SSA1-CA1,409,24 "72.01 (11m) "Federal credit" means, for deaths occurring after September 30, 2002, and before January 1, 2008, the federal estate tax credit allowed for state death taxes as computed under the federal estate tax law in effect on December 31, 2000, and for deaths occurring after December 31, 2007, the federal estate tax credit allowed for state death taxes as computed under the federal estate tax law in effect on the day of the decedent's death.".

SB55-SSA1-CA1,410,1 1066. Page 832, line 13: delete lines 13 to 16 and substitute:

SB55-SSA1-CA1,410,6 "72.01 (11n) "Federal estate tax" means, for deaths occurring after September 30, 2002, and before January 1, 2008, the federal estate tax as computed under the federal estate tax law in effect on December 31, 2000, and for deaths occurring after December 31, 2007, the federal estate tax as computed under the federal estate tax law in effect on the day of the decedent's death.".

SB55-SSA1-CA1,410,8 1067. Page 832, line 20: delete "allowed for state death taxes" and substitute "allowed for state death taxes".

SB55-SSA1-CA1,410,10 1068. Page 832, line 23: delete "allowed for state death taxes" and substitute "allowed for state death taxes".

SB55-SSA1-CA1,410,12 1069. Page 833, line 2: delete "allowed for state death taxes" and substitute "allowed for state death taxes".

SB55-SSA1-CA1,410,13 1070. Page 833, line 8: delete "chapter" and substitute "chapter,".

SB55-SSA1-CA1,410,14 1071. Page 833, line 9: delete "chapter," and substitute "chapter, with".

SB55-SSA1-CA1,410,16 1072. Page 833, line 13: delete the material beginning with "2001" and ending with "1," on line 14.

SB55-SSA1-CA1,410,17 1073. Page 836, line 24: after that line insert:

SB55-SSA1-CA1,410,18 " Section 2205n. 73.03 (57) of the statutes is created to read:

SB55-SSA1-CA1,411,2 73.03 (57) To include on the forms on which the artistic endowment credits are claimed, under ss. 71.07 (9t), 71.28 (9t), and 71.47 (9t), a statement that a taxpayer may contribute amounts to the artistic endowment fund under s. 25.78 that exceed the amount for which a credit may be claimed by reducing the taxpayer's refund or by increasing the taxpayer's payment for tax liability, with the proceeds to be deposited into the fund.".

SB55-SSA1-CA1,411,3 1074. Page 837, line 7: after that line insert:

SB55-SSA1-CA1,411,4 " Section 2207m. 73.06 (3) of the statutes is amended to read:

SB55-SSA1-CA1,411,20 73.06 (3) The department of revenue, through its supervisors of equalization, shall examine and test the work of assessors during the progress of their assessments and ascertain whether any of them is assessing property at other than full value or is omitting property subject to taxation from the roll. The department and such supervisors shall have the rights and powers of a local assessor for the examination of persons and property and for the discovery of property subject to taxation. If any property has been omitted or not assessed according to law, they shall bring the same to the attention of the local assessor of the proper district and if such local assessor shall neglect or refuse to correct the assessment they shall report the fact to the board of review. If it discovers errors in identifying or valuing property that is exempt under s. 70.11 (39) or (39m), the department shall change the specification of the property as taxable or exempt and shall change the value of the property. All disputes between the department, municipalities and property owners about the taxability or value of property that is reported under s. 79.095 (2) (a) or of the property under s. 70.995 (12r) shall be resolved by using the procedures under s. 70.995 (8).".

SB55-SSA1-CA1,411,21 1075. Page 838, line 25: after that line insert:

SB55-SSA1-CA1,411,22 " Section 2231m. 76.02 (6m) of the statutes is created to read:

SB55-SSA1-CA1,412,3 76.02 (6m) "Repair facility" means property on which a roundhouse, a repair shop, and a turntable are located and at which railcars and locomotives are built, maintained, and repaired.

SB55-SSA1-CA1, s. 2232d Section 2232d. 76.16 of the statutes is amended to read:

SB55-SSA1-CA1,412,20 76.16 Separate valuation of repair facilities, docks, piers, wharves, ore yards, elevators, car ferries and pipeline terminal facilities. After the property of a company is first valued as a whole, if any repair facilities, docks, ore yards, piers, wharves, grain elevators or car ferries used in transferring freight or passengers between cars and vessels or transfer of freight cars located on car ferries, or if any terminal storage facilities, docks, pipelines and pumping equipment used in transferring oil from pipelines to vessels shall be included in such valuation, then for the purpose of accounting to the proper taxation districts, the department shall make a separate valuation of each such repair facility, dock, ore yard, pier, wharf, grain elevator, including the approaches thereto, or car ferries and of each such terminal storage facility, dock, pipeline and pumping equipment. As used herein, an approach shall be an immediate access facility commencing at the switching point which leads primarily to the terminal facility. For the purpose of defining the pipeline terminal facilities affected by this section, such facilities shall begin where the incoming pipeline enters the terminal storage facility site used in the transfer of oil to vessels.

SB55-SSA1-CA1, s. 2232m Section 2232m. 76.24 (2) (a) of the statutes is amended to read:

SB55-SSA1-CA1,413,4 76.24 (2) (a) All taxes paid by any railroad company derived from or apportionable to repair facilities, docks, ore yards, piers, wharves, grain elevators, and their approaches, or car ferries or terminal storage facilities, docks, pipelines and pumping equipment used in transferring oil from pipelines to vessels on the basis of the separate valuation provided for in s. 76.16, shall be distributed annually from the transportation fund to the towns, villages and cities in which they are located, pursuant to certification made by the department of revenue on or before August 15.".

SB55-SSA1-CA1,413,5 1076. Page 838, line 25: after that line insert:

SB55-SSA1-CA1,413,6 " Section 2231m. 76.025 (1) of the statutes is amended to read:

SB55-SSA1-CA1,413,18 76.025 (1) The property taxable under s. 76.13 shall include all franchises, and all real and personal property of the company used or employed in the operation of its business, excluding property that is exempt from the property tax under s. 70.11 (39) and (39m), such motor vehicles as are exempt under s. 70.112 (5) and treatment plant and pollution abatement equipment exempt under s. 70.11 (21) (a). The taxable property shall include all title and interest of the company referred to in such property as owner, lessee or otherwise, and in case any portion of the property is jointly used by 2 or more companies, the unit assessment shall include and cover a proportionate share of that portion of the property jointly used so that the assessments of the property of all companies having any rights, title or interest of any kind or nature whatsoever in any such property jointly used shall, in the aggregate, include only one total full value of such property.".

SB55-SSA1-CA1,413,19 1077. Page 842, line 22: after "(39)" insert "and (39m)".

SB55-SSA1-CA1,413,20 1078. Page 843, line 5: after that line insert: