LRBa0246/1
JK:wlj:rs
2005 - 2006 LEGISLATURE
ASSEMBLY AMENDMENT 1,
TO 2005 ASSEMBLY BILL 125
March 3, 2005 - Offered by Committee on Agriculture.
AB125-AA1,1,4
3"
Section 2m. 71.07 (3n) (e) of the statutes is renumbered 71.07 (3n) (e) 1. and
4amended to read:
AB125-AA1,1,135
71.07
(3n) (e) 1. Partnerships, limited liability companies, and tax-option
6corporations may not claim the credit under this subsection, but the eligibility for,
7and the amount of, the credit are based on their payment of expenses under par. (b)
,
8except that the aggregate amount of credits that the entity may compute shall not
9exceed $50,000. A partnership, limited liability company, or tax-option corporation
10shall compute the amount of credit that each of its partners, members, or
11shareholders may claim and shall provide that information to each of them.
12Partners, members of limited liability companies, and shareholders of tax-option
13corporations may claim the credit in proportion to their ownership interest.
AB125-AA1, s. 2n
1Section 2n. 71.07 (3n) (e) 2. of the statutes is created to read:
AB125-AA1,2,52
71.07
(3n) (e) 2. If 2 or more persons own and operate the dairy farm, each
3person may claim a credit under par. (b) in proportion to his or her ownership
4interest, except that the aggregate amount of the credits claimed by all persons who
5own and operate the farm shall not exceed $50,000.".
AB125-AA1,2,8
7"
Section 4m. 71.28 (3n) (e) of the statutes is renumbered 71.28 (3n) (e) 1. and
8amended to read:
AB125-AA1,2,179
71.28
(3n) (e) 1. Partnerships, limited liability companies, and tax-option
10corporations may not claim the credit under this subsection, but the eligibility for,
11and the amount of, the credit are based on their payment of expenses under par. (b)
,
12except that the aggregate amount of credits that the entity may compute shall not
13exceed $50,000. A partnership, limited liability company, or tax-option corporation
14shall compute the amount of credit that each of its partners, members, or
15shareholders may claim and shall provide that information to each of them.
16Partners, members of limited liability companies, and shareholders of tax-option
17corporations may claim the credit in proportion to their ownership interest.
AB125-AA1, s. 4n
18Section 4n. 71.28 (3n) (e) 2. of the statutes is created to read:
AB125-AA1,2,2219
71.28
(3n) (e) 2. If 2 or more persons own and operate the dairy farm, each
20person may claim a credit under par. (b) in proportion to his or her ownership
21interest, except that the aggregate amount of the credits claimed by all persons who
22own and operate the farm shall not exceed $50,000.".
AB125-AA1,3,2
1"
Section 6m. 71.47 (3n) (e) of the statutes is renumbered 71.47 (3n) (e) 1. and
2amended to read:
AB125-AA1,3,113
71.47
(3n) (e) 1. Partnerships, limited liability companies, and tax-option
4corporations may not claim the credit under this subsection, but the eligibility for,
5and the amount of, the credit are based on their payment of expenses under par. (b)
,
6except that the aggregate amount of credits that the entity may compute shall not
7exceed $50,000. A partnership, limited liability company, or tax-option corporation
8shall compute the amount of credit that each of its partners, members, or
9shareholders may claim and shall provide that information to each of them.
10Partners, members of limited liability companies, and shareholders of tax-option
11corporations may claim the credit in proportion to their ownership interest.
AB125-AA1, s. 6n
12Section 6n. 71.47 (3n) (e) 2. of the statutes is created to read:
AB125-AA1,3,1613
71.47
(3n) (e) 2. If 2 or more persons own and operate the dairy farm, each
14person may claim a credit under par. (b) in proportion to his or her ownership
15interest, except that the aggregate amount of the credits claimed by all persons who
16own and operate the farm shall not exceed $50,000.".
