Amendment ASA1-AB371

AB371-ASA1, s. 2 Section 2. 71.07 (5j) of the statutes is created to read:

AB371-ASA1,2,5 71.07 (5j) Flexible fuel and electric motor vehicles credit. (a) Definitions. In this subsection:

AB371-ASA1,2,6 1. "Biodiesel fuel" has the meaning given in s. 168.14 (2m) (a).

AB371-ASA1,2,7 2. "Claimant" means a person who files a claim under this subsection.

AB371-ASA1,2,10 3. "Eligible vehicle" means any of the following, as determined by the department of transportation under s. 110.23, that is assembled in this state and sold or leased to the claimant as a new motor vehicle licensed for highway use:

AB371-ASA1,2,12 a. A motor vehicle that is capable of using both gasoline and a mixture of gasoline and at least 85 percent ethanol as a fuel to propel the motor vehicle.

AB371-ASA1,2,13 b. A hybrid-electric vehicle, as defined in s. 16.045 (1) (e).

AB371-ASA1,2,15 c. A vehicle that satisfies the requirements of the neighborhood electric vehicle test program conducted by the federal department of energy.

AB371-ASA1,2,16 d. A plug-in hybrid-electric vehicle.

AB371-ASA1,2,18 e. A motor vehicle that is capable of using biodiesel fuel as a fuel to propel the motor vehicle.

AB371-ASA1,2,21 (b) Filing claims. Subject to the limitations provided under this subsection, a claimant may claim as a credit against the taxes imposed under s. 71.02, up to the amount of the tax:

AB371-ASA1,2,23 1. One of the following amounts, if, in the taxable year, the claimant purchased or leased an eligible vehicle:

AB371-ASA1,2,25 a. If the purchase price of the eligible vehicle is $18,000 or more, $500 for a purchased eligible vehicle and $100 for a leased eligible vehicle.

AB371-ASA1,3,2 b. If the purchase price of the eligible vehicle is at least $17,000, but less than $18,000, $450 for a purchased eligible vehicle and $90 for a leased eligible vehicle.

AB371-ASA1,3,4 c. If the purchase price of the eligible vehicle is at least $16,000, but less than $17,000, $400 for a purchased eligible vehicle and $80 for a leased eligible vehicle.

AB371-ASA1,3,6 d. If the purchase price of the eligible vehicle is at least $15,000, but less than $16,000, $350 for a purchased eligible vehicle and $70 for a leased eligible vehicle.

AB371-ASA1,3,8 e. If the purchase price of the eligible vehicle is at least $14,000, but less than $15,000, $300 for a purchased eligible vehicle and $60 for a leased eligible vehicle.

AB371-ASA1,3,10 f. If the purchase price of the eligible vehicle is at least $13,000, but less than $14,000, $250 for a purchased eligible vehicle and $50 for a leased eligible vehicle.

AB371-ASA1,3,12 g. If the purchase price of the eligible vehicle is at least $12,000, but less than $13,000, $200 for a purchased eligible vehicle and $40 for a leased eligible vehicle.

AB371-ASA1,3,14 h. If the purchase price of the eligible vehicle is at least $11,000, but less than $12,000, $150 for a purchased eligible vehicle and $30 for a leased eligible vehicle.

AB371-ASA1,3,16 i. If the purchase price of the eligible vehicle is at least $10,000, but less than $11,000, $100 for a purchased eligible vehicle and $20 for a leased eligible vehicle.

AB371-ASA1,3,19 2. Fifty dollars, if the claimant purchased in the taxable year an engine modification kit to convert a motor vehicle that the claimant owns into an eligible vehicle.

AB371-ASA1,3,25 (c) Limitations. 1. For purposes of determining the amount of the credit under par. (b) 1. for a leased eligible vehicle, the purchase price is the purchase price of the eligible vehicle on the first day of the lease period. A claimant who claims a credit under par. (b) 1. for a leased eligible vehicle may claim the credit for each year of the lease period that corresponds with a taxable year for which the claimant may claim a credit under this subsection.

AB371-ASA1,4,3 2. The credit under par. (b) 1. may be claimed only by the first person who takes title of the eligible vehicle, other than for resale, or, in the case of a leased vehicle, the first person who leases the vehicle.

AB371-ASA1,4,7 3. No credit may be claimed under par. (b) 2. unless the claimant submits with the claimant's return any document prescribed by the department that verifies that the engine modification kit described in par. (b) 2. was installed in the claimant's motor vehicle by a certified technician.

AB371-ASA1,4,15 4. No claimant may claim the credit under this subsection for vehicles described under par. (a) 3. a. and e. unless the claimant submits with the claimant's return any documentation prescribed by the department that indicates that the claimant paid at least $500 on the purchase of biodiesel fuel or motor vehicle fuel sold as 85 percent ethanol during the period beginning on the date that the claimant purchased the motor vehicle or on the first day of the lease period and ending on December 31 of the calendar year following the calendar year in which the claimant purchased or began leasing the motor vehicle.

AB371-ASA1,4,23 5. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts described under par. (b). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.

AB371-ASA1,4,25 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

AB371-ASA1,5,5 (e) Sunset. No credit may be claimed under this subsection for taxable years beginning after December 31, 2009, except the the joint committee on finance may, by a two-thirds vote of the members present and voting, extend the credit under this subsection so that credits may be claimed for taxable years beginning after December 31, 2009, and before January 1, 2011.

AB371-ASA1, s. 3 Section 3. 71.10 (4) (cn) of the statutes is created to read:

AB371-ASA1,5,7 71.10 (4) (cn) Flexible fuel and electric motor vehicles credit under s. 71.07 (5j).

AB371-ASA1, s. 4 Section 4. 71.21 (4) of the statutes is amended to read:

AB371-ASA1,5,11 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2ds), (2dx), (3g), (3n), (3s), (3t), (3w), (5b), (5e), (5f), (5g), and (5h), and (5j) and passed through to partners shall be added to the partnership's income.

AB371-ASA1, s. 5 Section 5. 71.26 (2) (a) of the statutes is amended to read:

AB371-ASA1,6,5 71.26 (2) (a) Corporations in general. The "net income" of a corporation means the gross income as computed under the Internal Revenue Code as modified under sub. (3) minus the amount of recapture under s. 71.28 (1di) plus the amount of credit computed under s. 71.28 (1), (3), (4), and (5) minus, as provided under s. 71.28 (3) (c) 7., the amount of the credit under s. 71.28 (3) that the taxpayer added to income under this paragraph at the time that the taxpayer first claimed the credit plus the amount of the credit computed under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (3g), (3n), (3t), (3w), (5b), (5e), (5f), (5g), and (5h), and (5j) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, limited liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1) (g) plus the amount of losses from the sale or other disposition of assets the gain from which would be wholly exempt income, as defined in sub. (3) (L), if the assets were sold or otherwise disposed of at a gain and minus deductions, as computed under the Internal Revenue Code as modified under sub. (3), plus or minus, as appropriate, an amount equal to the difference between the federal basis and Wisconsin basis of any asset sold, exchanged, abandoned, or otherwise disposed of in a taxable transaction during the taxable year, except as provided in par. (b) and s. 71.45 (2) and (5).

AB371-ASA1, s. 6 Section 6. 71.28 (5j) of the statutes is created to read:

AB371-ASA1,6,8 71.28 (5j) Flexible fuel and electric motor vehicles credit. (a) Definitions. In this subsection:

AB371-ASA1,6,9 1. "Biodiesel fuel" has the meaning given in s. 168.14 (2m) (a).

AB371-ASA1,6,10 2. "Claimant" means a person who files a claim under this subsection.

AB371-ASA1,6,13 3. "Eligible vehicle" means any of the following, as determined by the department of transportation under s. 110.23, that is assembled in this state and sold or leased to the claimant as a new motor vehicle licensed for highway use:

AB371-ASA1,6,15 a. A motor vehicle that is capable of using both gasoline and a mixture of gasoline and at least 85 percent ethanol as a fuel to propel the motor vehicle.

AB371-ASA1,6,16 b. A hybrid-electric vehicle, as defined in s. 16.045 (1) (e).

AB371-ASA1,6,18 c. A vehicle that satisfies the requirements of the neighborhood electric vehicle test program conducted by the federal department of energy.

AB371-ASA1,6,19 d. A plug-in hybrid-electric vehicle.

AB371-ASA1,6,21 e. A motor vehicle that is capable of using biodiesel fuel as a fuel to propel the motor vehicle.

AB371-ASA1,6,24 (b) Filing claims. Subject to the limitations provided under this subsection, a claimant may claim as a credit against the taxes imposed under s. 71.23, up to the amount of the tax:

AB371-ASA1,7,2 1. One of the following amounts, if, in the taxable year, the claimant purchased or leased an eligible vehicle:

AB371-ASA1,7,4 a. If the purchase price of the eligible vehicle is $18,000 or more, $500 for a purchased eligible vehicle and $100 for a leased eligible vehicle.

AB371-ASA1,7,6 b. If the purchase price of the eligible vehicle is at least $17,000, but less than $18,000, $450 for a purchased eligible vehicle and $90 for a leased eligible vehicle.

AB371-ASA1,7,8 c. If the purchase price of the eligible vehicle is at least $16,000, but less than $17,000, $400 for a purchased eligible vehicle and $80 for a leased eligible vehicle.

AB371-ASA1,7,10 d. If the purchase price of the eligible vehicle is at least $15,000, but less than $16,000, $350 for a purchased eligible vehicle and $70 for a leased eligible vehicle.

AB371-ASA1,7,12 e. If the purchase price of the eligible vehicle is at least $14,000, but less than $15,000, $300 for a purchased eligible vehicle and $60 for a leased eligible vehicle.

AB371-ASA1,7,14 f. If the purchase price of the eligible vehicle is at least $13,000, but less than $14,000, $250 for a purchased eligible vehicle and $50 for a leased eligible vehicle.

AB371-ASA1,7,16 g. If the purchase price of the eligible vehicle is at least $12,000, but less than $13,000, $200 for a purchased eligible vehicle and $40 for a leased eligible vehicle.

AB371-ASA1,7,18 h. If the purchase price of the eligible vehicle is at least $11,000, but less than $12,000, $150 for a purchased eligible vehicle and $30 for a leased eligible vehicle.

AB371-ASA1,7,20 i. If the purchase price of the eligible vehicle is at least $10,000, but less than $11,000, $100 for a purchased eligible vehicle and $20 for a leased eligible vehicle.

AB371-ASA1,7,23 2. Fifty dollars, if the claimant purchased in the taxable year an engine modification kit to convert a motor vehicle that the claimant owns into an eligible vehicle.

AB371-ASA1,8,4 (c) Limitations. 1. For purposes of determining the amount of the credit under par. (b) 1. for a leased eligible vehicle, the purchase price is the purchase price of the eligible vehicle on the first day of the lease period. A claimant who claims a credit under par. (b) 1. for a leased eligible vehicle may claim the credit for each year of the lease period that corresponds with a taxable year for which the claimant may claim a credit under this subsection.

AB371-ASA1,8,7 2. The credit under par. (b) 1. may be claimed only by the first person who takes title of the eligible vehicle, other than for resale, or, in the case of a leased vehicle, the first person who leases the vehicle.

AB371-ASA1,8,11 3. No credit may be claimed under par. (b) 2. unless the claimant submits with the claimant's return any document prescribed by the department that verifies that the engine modification kit described in par. (b) 2. was installed in the claimant's motor vehicle by a certified technician.

AB371-ASA1,8,19 4. No claimant may claim the credit under this subsection for vehicles described under par. (a) 3. a. and e. unless the claimant submits with the claimant's return any documentation prescribed by the department that indicates that the claimant paid at least $500 on the purchase of biodiesel fuel or motor vehicle fuel sold as 85 percent ethanol during the period beginning on the date that the claimant purchased the motor vehicle or on the first day of the lease period and ending on December 31 of the calendar year following the calendar year in which the claimant purchased or began leasing the motor vehicle.

AB371-ASA1,9,2 5. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts described under par. (b). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.

AB371-ASA1,9,4 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under sub. (4), applies to the credit under this subsection.

AB371-ASA1,9,9 (e) Sunset. No credit may be claimed under this subsection for taxable years beginning after December 31, 2009, except the the joint committee on finance may, by a two-thirds vote of the members present and voting, extend the credit under this subsection so that credits may be claimed for taxable years beginning after December 31, 2009, and before January 1, 2011.

AB371-ASA1, s. 7 Section 7. 71.30 (3) (dq) of the statutes is created to read:

AB371-ASA1,9,11 71.30 (3) (dq) Flexible fuel and electric motor vehicles credit under s. 71.28 (5j).

AB371-ASA1, s. 8 Section 8. 71.34 (1) (g) of the statutes is amended to read:

AB371-ASA1,9,16 71.34 (1) (g) An addition shall be made for credits computed by a tax-option corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (3), (3g), (3n), (3t), (3w), (5b), (5e), (5f), (5g), and (5h) , and (5j) and passed through to shareholders.

AB371-ASA1, s. 9 Section 9. 71.45 (2) (a) 10. of the statutes is amended to read:

AB371-ASA1,9,23 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit computed under s. 71.47 (1dd) to (1dx), (3n), (3w), (5b), (5e), (5f), (5g), and (5h), and (5j) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, limited liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1) (g) and the amount of credit computed under s. 71.47 (1), (3), (3t), (4), and (5).

AB371-ASA1, s. 10 Section 10. 71.47 (5j) of the statutes is created to read:

AB371-ASA1,10,2 71.47 (5j) Flexible fuel and electric motor vehicles credit. (a) Definitions. In this subsection:

AB371-ASA1,10,3 1. "Biodiesel fuel" has the meaning given in s. 168.14 (2m) (a).

AB371-ASA1,10,4 2. "Claimant" means a person who files a claim under this subsection.

AB371-ASA1,10,7 3. "Eligible vehicle" means any of the following, as determined by the department of transportation under s. 110.23, that is assembled in this state and sold or leased to the claimant as a new motor vehicle licensed for highway use:

AB371-ASA1,10,9 a. A motor vehicle that is capable of using both gasoline and a mixture of gasoline and at least 85 percent ethanol as a fuel to propel the motor vehicle.

AB371-ASA1,10,10 b. A hybrid-electric vehicle, as defined in s. 16.045 (1) (e).

AB371-ASA1,10,12 c. A vehicle that satisfies the requirements of the neighborhood electric vehicle test program conducted by the federal department of energy.

AB371-ASA1,10,13 d. A plug-in hybrid-electric vehicle.

AB371-ASA1,10,15 e. A motor vehicle that is capable of using biodiesel fuel as a fuel to propel the motor vehicle.

AB371-ASA1,10,18 (b) Filing claims. Subject to the limitations provided under this subsection, a claimant may claim as a credit against the taxes imposed under s. 71.43, up to the amount of the tax:

AB371-ASA1,10,20 1. One of the following amounts, if, in the taxable year, the claimant purchased or leased an eligible vehicle:

AB371-ASA1,10,22 a. If the purchase price of the eligible vehicle is $18,000 or more, $500 for a purchased eligible vehicle and $100 for a leased eligible vehicle.

AB371-ASA1,10,24 b. If the purchase price of the eligible vehicle is at least $17,000, but less than $18,000, $450 for a purchased eligible vehicle and $90 for a leased eligible vehicle.

AB371-ASA1,11,2 c. If the purchase price of the eligible vehicle is at least $16,000, but less than $17,000, $400 for a purchased eligible vehicle and $80 for a leased eligible vehicle.

AB371-ASA1,11,4 d. If the purchase price of the eligible vehicle is at least $15,000, but less than $16,000, $350 for a purchased eligible vehicle and $70 for a leased eligible vehicle.

AB371-ASA1,11,6 e. If the purchase price of the eligible vehicle is at least $14,000, but less than $15,000, $300 for a purchased eligible vehicle and $60 for a leased eligible vehicle.

AB371-ASA1,11,8 f. If the purchase price of the eligible vehicle is at least $13,000, but less than $14,000, $250 for a purchased eligible vehicle and $50 for a leased eligible vehicle.

AB371-ASA1,11,10 g. If the purchase price of the eligible vehicle is at least $12,000, but less than $13,000, $200 for a purchased eligible vehicle and $40 for a leased eligible vehicle.