LRBs0033/3
JK:wlj:rs
2005 - 2006 LEGISLATURE
ASSEMBLY SUBSTITUTE AMENDMENT 1,
TO 2005 ASSEMBLY BILL 145
March 3, 2005 - Offered by Committee on Agriculture.
AB145-ASA1,1,9
1An Act to renumber 71.07 (3n) (b), 71.28 (3n) (b) and 71.47 (3n) (b);
to
2renumber and amend 71.07 (3n) (e), 71.28 (3n) (e) and 71.47 (3n) (e);
to
3amend 71.07 (3n) (a) 2. (intro.), 71.28 (3n) (a) 2. (intro.) and 71.47 (3n) (a) 2.
4(intro.); and
to create 71.07 (3n) (a) 4., 71.07 (3n) (a) 5., 71.07 (3n) (a) 6., 71.07
5(3n) (b) 2., 71.07 (3n) (e) 2., 71.28 (3n) (a) 4., 71.28 (3n) (a) 5., 71.28 (3n) (a) 6.,
671.28 (3n) (b) 2., 71.28 (3n) (e) 2., 71.47 (3n) (a) 4., 71.47 (3n) (a) 5., 71.47 (3n)
7(a) 6., 71.47 (3n) (b) 2. and 71.47 (3n) (e) 2. of the statutes;
relating to: creating
8an income and franchise tax credit for livestock farm modernization or
9expansion.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB145-ASA1, s. 1
10Section
1. 71.07 (3n) (a) 2. (intro.) of the statutes is amended to read:
AB145-ASA1,2,411
71.07
(3n) (a) 2. (intro.) "Dairy farm modernization or expansion" means the
12construction, the improvement, or the acquisition of buildings or facilities, or the
1acquisition of equipment, for dairy animal housing, confinement, animal feeding,
2milk production, or waste management, including the following, if used exclusively
3related to dairy animals
and if acquired and placed in service in this state during
4taxable years that begin after December 31, 2003, and before January 1, 2010:
AB145-ASA1, s. 2
5Section
2. 71.07 (3n) (a) 4. of the statutes is created to read:
AB145-ASA1,2,86
71.07
(3n) (a) 4. "Livestock" means cattle, not including dairy animals; swine;
7poultry, not including farm-raised game birds or ratites; fish that are raised in
8aquaculture facilities; sheep; and goats.
AB145-ASA1, s. 3
9Section
3. 71.07 (3n) (a) 5. of the statutes is created to read:
AB145-ASA1,2,1510
71.07
(3n) (a) 5. "Livestock farm modernization or expansion" means the
11construction, the improvement, or the acquisition of buildings or facilities, or the
12acquisition of equipment, for livestock housing, confinement, feeding, or waste
13management, including the following, if used exclusively related to livestock and if
14acquired and placed in service in this state during taxable years that begin after
15December 31, 2004, and before January 1, 2011:
AB145-ASA1,2,1616
a. Birthing structures.
AB145-ASA1,2,1717
b. Rearing structures.
AB145-ASA1,2,1818
c. Feedlot structures.
AB145-ASA1,2,1919
d. Feed storage and handling equipment.
AB145-ASA1,2,2121
f. Watering facilities.
AB145-ASA1,2,2323
h. Manure pumping and storage facilities.
AB145-ASA1,2,2424
i. Digesters.
AB145-ASA1,2,2525
j. Equipment used to produce energy.
AB145-ASA1,3,1
1k. Fish hatchery buildings.
AB145-ASA1,3,22
L. Fish processing buildings.
AB145-ASA1,3,33
m. Fish rearing ponds.
AB145-ASA1, s. 4
4Section
4. 71.07 (3n) (a) 6. of the statutes is created to read:
AB145-ASA1,3,75
71.07
(3n) (a) 6. a. For taxable years that begin after December 31, 2003, and
6before January 1, 2005, "used exclusively," related to dairy animals, means used to
7the exclusion of all other uses except for use not exceeding 5 percent of total use.
AB145-ASA1,3,108
b. For taxable years that begin after December 31, 2004, and before January
91, 2010, "used exclusively," related to livestock, dairy animals, or both, means used
10to the exclusion of all other uses except for use not exceeding 5 percent of total use.
AB145-ASA1,3,1311
c. For taxable years that begin after December 31, 2009, and before January
121, 2011, "used exclusively," related to livestock, means used to the exclusion of all
13other uses except for use not exceeding 5 percent of total use.
AB145-ASA1, s. 5
14Section
5. 71.07 (3n) (b) of the statutes is renumbered 71.07 (3n) (b) 1.
AB145-ASA1, s. 6
15Section
6. 71.07 (3n) (b) 2. of the statutes is created to read:
AB145-ASA1,3,2116
71.07
(3n) (b) 2. Subject to the limitations provided in this subsection, for
17taxable years that begin after December 31, 2004, and before January 1, 2011, a
18claimant may claim as a credit against the tax imposed under ss. 71.02 and 71.08 an
19amount equal to 10 percent of the amount the claimant paid in the taxable year for
20livestock farm modernization or expansion related to the operation of the claimant's
21livestock farm.
AB145-ASA1, s. 7
22Section
7. 71.07 (3n) (e) of the statutes is renumbered 71.07 (3n) (e) 1. and
23amended to read:
AB145-ASA1,4,724
71.07
(3n) (e) 1. Partnerships, limited liability companies, and tax-option
25corporations may not claim the credit under this subsection, but the eligibility for,
1and the amount of, the credit are based on their payment of expenses under par. (b)
,
2except that the aggregate amount of credits that the entity may compute shall not
3exceed $50,000. A partnership, limited liability company, or tax-option corporation
4shall compute the amount of credit that each of its partners, members, or
5shareholders may claim and shall provide that information to each of them.
6Partners, members of limited liability companies, and shareholders of tax-option
7corporations may claim the credit in proportion to their ownership interest.
AB145-ASA1, s. 8
8Section
8. 71.07 (3n) (e) 2. of the statutes is created to read:
AB145-ASA1,4,129
71.07
(3n) (e) 2. If 2 or more persons own and operate the dairy or livestock
10farm, each person may claim a credit under par. (b) in proportion to his or her
11ownership interest, except that the aggregate amount of the credits claimed by all
12persons who own and operate the farm shall not exceed $50,000.
AB145-ASA1, s. 9
13Section
9. 71.28 (3n) (a) 2. (intro.) of the statutes is amended to read:
AB145-ASA1,4,1914
71.28
(3n) (a) 2. (intro.) "Dairy farm modernization or expansion" means the
15construction, the improvement, or the acquisition of buildings or facilities, or
16acquiring equipment, for dairy animal housing, confinement, animal feeding, milk
17production, or waste management, including the following, if used exclusively
18related to dairy animals
and if acquired and placed in service in this state during
19taxable years that begin after December 31, 2003, and before January 1, 2010:
AB145-ASA1, s. 10
20Section
10. 71.28 (3n) (a) 4. of the statutes is created to read:
AB145-ASA1,4,2321
71.28
(3n) (a) 4. "Livestock" means cattle, not including dairy animals; swine;
22poultry, not including farm-raised game birds or ratites; fish that are raised in
23aquaculture facilities; sheep; and goats.
AB145-ASA1, s. 11
24Section
11. 71.28 (3n) (a) 5. of the statutes is created to read:
AB145-ASA1,5,6
171.28
(3n) (a) 5. "Livestock farm modernization or expansion" means the
2construction, the improvement, or the acquisition of buildings or facilities, or the
3acquisition of equipment, for livestock housing, confinement, feeding, or waste
4management, including the following, if used exclusively related to livestock and if
5acquired and placed in service in this state during taxable years that begin after
6December 31, 2004, and before January 1, 2011:
AB145-ASA1,5,77
a. Birthing structures.
AB145-ASA1,5,88
b. Rearing structures.
AB145-ASA1,5,99
c. Feedlot structures.
AB145-ASA1,5,1010
d. Feed storage and handling equipment.
AB145-ASA1,5,1212
f. Watering facilities.
AB145-ASA1,5,1414
h. Manure pumping and storage facilities.
