AB40-ASA1,683,916
70.114
(1) (b) 2. For land purchased on or after the effective date of this
17subdivision .... [LRB inserts date], "estimated value," for the year during which land
18is purchased, means the lesser of the purchase price or the determination of the
19land's equalized valuation under s. 70.57 in the year before the year during which
20the land is purchased, increased or decreased to reflect the annual percentage
21change in the equalized valuation of all property, excluding improvements, in the
22taxation district, as determined by comparing the most recent determination of
23equalized valuation under s. 70.57 for that property, except that if the land was
24exempt from taxation in the year prior to the year during which the Department
25purchased the land "estimated value," for the year during which the land is
1purchased means the lesser of either the purchase price; or the land's equalized
2valuation under s. 70.57 or an amount that would result in a payment under sub. (4)
3that is equal to $10 per acre, whichever is greater. "Estimated value," for later years,
4means the value that was used for calculating the aid payment under this section for
5the prior year increased or decreased to reflect the annual percentage change in the
6equalized valuation of all property, excluding improvements, in the taxation district,
7as determined by comparing the most recent determination of equalized valuation
8under s. 70.57 for that property to the next preceding determination of equalized
9valuation under s. 70.57 for that property.
AB40-ASA1,685,1811
71.01
(6) (u) For taxable years that begin after December 31, 2007, and before
12January 1, 2009, for natural persons and fiduciaries, except fiduciaries of nuclear
13decommissioning trust or reserve funds, "Internal Revenue Code" means the federal
14Internal Revenue Code as amended to December 31, 2007, excluding sections 103,
15104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203
16(d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
17104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554,
18P.L.
106-573, section 431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147,
19sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306,
20308, 316, 401, and 403 (a) of P.L.
108-311, sections 101, 201, 211, 242, 244, 336, 337,
21422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310,
221323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, section 11146 of
23P.L.
109-59, section 301 of P.L.
109-73, sections 101, 105, 201 (a) as it relates to
24section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, sections 101,
25207, 209, 503, 512, and 513 of P.L.
109-222, sections 811 and 844 of P.L.
109-280, P.L.
1109-432, P.L.
110-28, P.L.
110-140, P.L.
110-141, P.L.
110-142, P.L.
110-166, and
2P.L.
110-172, and as amended by P.L.
110-245, excluding sections 110, 113, and 301
3of P.L.
110-245,
and section 15316 of P.L. 110-246, section 301 of division B and
4section 313 of division C of P.L. 110-343, P.L.
110-458,
section 1541 of division B of
5P.L. 111-5, and P.L. 111-192, and as indirectly affected by P.L.
99-514, P.L.
100-203,
6P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-280,
7P.L.
101-508, P.L.
102-90, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
8102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
9(d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
10103-465, P.L.
104-7, P.L.
104-117, P.L.
104-188, excluding sections 1123 (b), 1202
11(c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
12105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
13106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554,
14P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
15107-116, P.L.
107-134, P.L.
107-147, excluding sections 101 and 301 (a) of P.L.
16107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
17excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173,
18excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
19excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
20excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
21108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections
221305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
23109-58, P.L.
109-59, excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding
24section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
25relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
1109-151, P.L.
109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L.
2109-222, P.L.
109-227, P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280,
3P.L.
110-245, excluding sections 110, 113, and 301 of P.L.
110-245,
and section 15316
4of P.L. 110-246, section 301 of division B and section 313 of division C of P.L. 110-343, 5P.L.
110-458, section 1541 of division B of P.L. 111-5, and P.L. 111-192. The Internal
6Revenue Code applies for Wisconsin purposes at the same time as for federal
7purposes. Amendments to the federal Internal Revenue Code enacted after
8December 31, 2007, do not apply to this paragraph with respect to taxable years
9beginning after December 31, 2007, and before January 1, 2009, except that changes
10to the Internal Revenue Code made by P.L.
110-245, excluding sections 110, 113, and
11301 of P.L.
110-245,
and section 15316 of P.L. 110-246, section 301 of division B and
12section 313 of division C of P.L. 110-343, P.L.
110-458,
section 1541 of division B of
13P.L. 111-5, and P.L. 111-192, and changes that indirectly affect the provisions
14applicable to this subchapter made by P.L.
110-245, excluding sections 110, 113, and
15301 of P.L.
110-245,
and section 15316 of P.L. 110-246, section 301 of division B and
16section 313 of division C of P.L. 110-343, P.L.
110-458,
section 1541 of division B of
17P.L. 111-5, and P.L. 111-192, apply for Wisconsin purposes at the same time as for
18federal purposes.
AB40-ASA1,688,720
71.01
(6) (um) For taxable years that begin after December 31, 2008,
and
21before January 1, 2011, for natural persons and fiduciaries, except fiduciaries of
22nuclear decommissioning trust or reserve funds, "Internal Revenue Code" means the
23federal Internal Revenue Code as amended to December 31, 2008, excluding sections
24103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174, and
2513203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
1104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554,
2P.L.
106-573, section 431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147,
3sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306,
4308, 316, 401, and 403 (a) of P.L.
108-311, sections 101, 102, 201, 211, 242, 244, 336,
5337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308, 1309,
61310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, section
711146 of P.L.
109-59, section 301 of P.L.
109-73, sections 101, 105, 201 (a) as it relates
8to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, sections 101,
9207, 209, 503, and 513 of P.L.
109-222,
section 844 of P.L. 109-280, P.L.
109-432, P.L.
10110-28, P.L.
110-140, P.L.
110-141, P.L.
110-142, P.L.
110-166, P.L.
110-172, P.L.
11110-185, P.L.
110-234, sections 110, 113, and 301 of P.L.
110-245, P.L.
110-246,
12except section 15316 of P.L. 110-246, P.L.
110-289,
except section 3093 of P.L.
13110-289, P.L.
110-317,
and P.L.
110-343,
except section 301 of division B and section
14313 of division C of P.L. 110-343, and
P.L. 110-351 as amended by sections 1261,
151262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L. 111-5, section 301
16of P.L. 111-147, P.L. 111-192, section 1601 of P.L. 111-203, section 215 of P.L.
17111-226, section 2112 of P.L. 111-240, and P.L. 111-325, and as indirectly affected
18by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179,
19P.L.
101-239, P.L.
101-280, P.L.
101-508, P.L.
102-90, P.L.
102-227, excluding
20sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66,
21excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
22P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-117, P.L.
104-188,
23excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
24104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
25105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections
1162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
2107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections
3101 and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
4107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
5108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
6108-218, P.L.
108-311, excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
7108-311, P.L.
108-357, excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422,
8847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
9109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
101329, 1348, and 1351 of P.L.
109-58, P.L.
109-59, excluding section 11146 of P.L.
11109-59, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135, excluding
12sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
13(q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections 101, 207,
14209, 503, and 513 of P.L.
109-222, P.L.
109-227, P.L.
109-280,
excluding section 844
15of P.L. 109-280, P.L.
110-245, excluding sections 110, 113, and 301 of P.L.
110-245,
16and section 15316 of P.L. 110-246, section 3093 of P.L. 110-289, section 301 of
17division B and section 313 of division C of P.L. 110-343, P.L. 110-351, P.L.
110-458,
18sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L.
19111-5, section 301 of P.L. 111-147, P.L. 111-192, section 1601 of P.L. 111-203, section
20215 of P.L. 111-226, section 2112 of P.L. 111-240, and P.L. 111-325. The Internal
21Revenue Code applies for Wisconsin purposes at the same time as for federal
22purposes. Amendments to the federal Internal Revenue Code enacted after
23December 31, 2008, do not apply to this paragraph with respect to taxable years
24beginning after December 31, 2008
, and before January 1, 2011, except that changes
25to the Internal Revenue Code made by sections 1261, 1262, 1401, 1402, 1521, 1522,
11531, and 1541 of division B of P.L. 111-5, section 301 of P.L. 111-147, P.L. 111-192,
2section 1601 of P.L. 111-203, section 215 of P.L. 111-226, section 2112 of P.L. 111-240,
3and P.L. 111-325, and changes that indirectly affect the provisions applicable to this
4subchapter made by sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of
5division B of P.L. 111-5, section 301 of P.L. 111-147, P.L. 111-192, section 1601 of P.L.
6111-203, section 215 of P.L. 111-226, section 2112 of P.L. 111-240, and P.L. 111-325,
7apply for Wisconsin purposes at the same time as for federal purposes.
AB40-ASA1,691,129
71.01
(6) (un) For taxable years that begin after December 31, 2010, for
10natural persons and fiduciaries, except fiduciaries of nuclear decommissioning trust
11or reserve funds, "Internal Revenue Code" means the federal Internal Revenue Code
12as amended to December 31, 2010, excluding sections 103, 104, and 110 of P.L.
13102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
14sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3,
154, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section
16431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and
17202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403
18(a) of P.L.
108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and
19910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
201326, 1328, 1329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section
21301 of P.L.
109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
22(e), 403 (e), (j), and (q), and 405 of P.L.
109-135, sections 101, 207, 503, and 513 of P.L.
23109-222, P.L.
109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425
24of division A and section 403 of division C of P.L.
109-432, P.L.
110-28, except
25sections 8215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-140, sections 2,
13, and 5 of P.L.
110-142, P.L.
110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L.
2110-172, P.L.
110-185, P.L.
110-234, section 301 of P.L.
110-245, P.L.
110-246,
3except sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L.
110-246, sections
43071, 3081, and 3082 of P.L.
110-289, section 9 (e) of P.L.
110-317, P.L.
110-343,
5except sections 116, 208, 211, and 301 of division B and sections 313 and 504 of
6division C of P.L.
110-343, P.L.
111-5, except sections 1261, 1262, 1401, 1402, 1521,
71522, 1531, and 1541 of division B of P.L.
111-5, section 201 of P.L.
111-147, P.L.
8111-148, except sections 1322, 1515, 9003, 9021, 9022, 10108, 10908, and 10909 of
9P.L.
111-148, P.L.
111-152, except section 1407 of P.L.
111-152, P.L.
111-203, except
10section 1601 of P.L.
111-203, P.L.
111-226, except sections 215 and 217 of P.L.
11111-226, P.L.
111-240, except sections 2014, 2043, 2111, 2112, and 2113 of P.L.
12111-240, and P.L.
111-312, and as indirectly affected by P.L.
99-514, P.L.
100-203,
13P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-280,
14P.L.
101-508, P.L.
102-90, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
15102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
16(d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
17103-465, P.L.
104-7, P.L.
104-117, P.L.
104-188, excluding sections 1123 (b), 1202
18(c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
19105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
20106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554,
21P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
22107-116, P.L.
107-134, P.L.
107-147, excluding sections 101 and 301 (a) of P.L.
23107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
24excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173,
25excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
1excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
2excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
3P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections
41305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
5109-58, P.L.
109-59, excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding
6section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
7relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
8109-151, P.L.
109-222, excluding sections 101, 207, 503, and 513 of P.L.
109-222,
9P.L.
109-227, P.L.
109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425
10of division A and section 403 of division C of P.L.
109-432, sections 8215, 8231, 8232,
118234, and 8236 of P.L.
110-28, P.L.
110-141, P.L.
110-142, excluding sections 2, 3,
12and 5 of P.L.
110-142, P.L.
110-172, excluding sections 3 (b) and 11 (b), (e), and (g)
13of P.L.
110-172, P.L.
110-245, excluding section 301 of P.L.
110-245, sections 4,
1415312, 15313, 15314, 15316, and 15342 of P.L.
110-246, P.L.
110-289, excluding
15sections 3071, 3081, and 3082 of P.L.
110-289, P.L.
110-317, excluding section 9 (e)
16of P.L.
110-317, sections 116, 208, 211, and 301 of division B and sections 313 and 504
17of division C of P.L.
110-343, P.L.
110-351, P.L.
110-458, sections 1261, 1262, 1401,
181402, 1521, 1522, 1531, and 1541 of division B of P.L.
111-5, P.L.
111-92, P.L.
19111-147, excluding section 201 of P.L.
111-147, sections 1322, 1515, 9003, 9021,
209022, 10108, 10908, and 10909 of P.L.
111-148, section 1407 of P.L.
111-152, P.L.
21111-192, section 1601 of P.L.
111-203, sections 215 and 217 of P.L.
111-226, sections
222014, 2043, 2111, 2112, and 2113 of P.L.
111-240, and P.L.
111-325. The Internal
23Revenue Code applies for Wisconsin purposes at the same time as for federal
24purposes, except that changes made by section 209 of P.L.
109-222, sections 117, 406,
25409, 410, 412, 417, 418, 424, and 425 of division A and section 403 of division C of P.L.
1109-432, sections 8215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-141, P.L.
2110-142, excluding sections 2, 3, and 5 of P.L.
110-142, P.L.
110-172, excluding
3sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172, sections 110 and 113 of P.L.
4110-245, sections 15312, 15313, 15314, and 15342 of P.L.
110-246, sections 3031,
53032, 3033, 3041, 3051, 3052, 3061, and 3092 of P.L.
110-289, P.L.
110-317,
6excluding section 9 (e) of P.L.
110-317, sections 116, 208, and 211 of division B and
7section 504 of division C of P.L.
110-343, section 14 of P.L.
111-92, sections 531, 532,
8and 533 of P.L.
111-147, sections 10908 and 10909 of P.L.
111-148, and section 2043
9of P.L.
111-240 do not apply for taxable years beginning before January 1, 2011.
10Amendments to the federal Internal Revenue Code enacted after December 31, 2010,
11do not apply to this paragraph with respect to taxable years beginning after
12December 31, 2010.
AB40-ASA1,691,1614
71.01
(13) "Wisconsin adjusted gross income" means federal adjusted gross
15income, with the modifications prescribed in s. 71.05 (6) to (12), (19), (20),
and (24)
,
16(25), and (26).
AB40-ASA1,691,2119
71.05
(1) (c) 12. The Wisconsin Housing and Economic Development Authority,
20if the bonds or notes are issued to provide loans to a public affairs network under s.
21234.75 (4).
AB40-ASA1,692,323
71.05
(6) (a) 15. The amount of the credits computed under s. 71.07 (2dd), (2de),
24(2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r),
25(3rm), (3rn), (3s), (3t), (3w), (5e), (5f), (5h), (5i), (5j), (5k),
(5n), (5r), (5rm), and (8r) and
1not passed through by a partnership, limited liability company, or tax-option
2corporation that has added that amount to the partnership's, company's, or
3tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g).
AB40-ASA1,692,85
71.05
(6) (b) 23. Any increase in value of a tuition unit that is purchased under
6a tuition contract under s.
14.63 16.64, except that the subtraction under this
7subdivision may not be claimed by any individual who received a refund under s.
814.63 16.64 (7) (a) 2., 3. or 4.
AB40-ASA1, s. 1757
9Section
1757. 71.05 (6) (b) 28. h. of the statutes is amended to read:
AB40-ASA1,692,1710
71.05
(6) (b) 28. h. No modification may be claimed under this subdivision for
11an amount paid for tuition expenses and mandatory student fees, as described under
12this subdivision, if the source of the payment is an amount withdrawn from a college
13savings account, as described in s.
14.64 16.641 or from a college tuition and expenses
14program, as described in s.
14.63 16.64, and if the owner of the account
or a parent,
15grandparent, great-grandparent, aunt, or uncle of the beneficiary, who contributed
16to the account, has claimed a deduction under subd. 32. or 33. that relates to such
17an amount.
AB40-ASA1,692,2219
71.05
(6) (b) 31. Any increase in value of a college savings account, as described
20in s.
14.64 16.641, except that the subtraction under this subdivision may not be
21claimed by any individual who has made a nonqualified withdrawal, as described in
22s.
14.64 16.641 (2) (e).
AB40-ASA1, s. 1759
23Section
1759. 71.05 (6) (b) 32. (intro.) of the statutes is amended to read:
AB40-ASA1,693,424
71.05
(6) (b) 32. (intro.) An amount paid into a college savings account, as
25described in s.
14.64 16.641, by the owner of the account or by a parent, grandparent,
1great-grandparent, aunt, or uncle of the beneficiary, if the beneficiary of the account
2is one of the following: the claimant; the claimant's child; the claimant's grandchild;
3the claimant's great-grandchild; or the claimant's niece or nephew; calculated as
4follows:
AB40-ASA1, s. 1760
5Section
1760. 71.05 (6) (b) 33. (intro.) of the statutes is amended to read:
AB40-ASA1,693,116
71.05
(6) (b) 33. (intro.) An amount paid into a college tuition and expenses
7program, as described in s.
14.63 16.64, by the owner of the account or by a parent,
8grandparent, great-grandparent, aunt, or uncle of the beneficiary, if the beneficiary
9of the account is one of the following: the claimant; the claimant's child; the
10claimant's grandchild; the claimant's great-grandchild; or the claimant's niece or
11nephew; calculated as follows:
AB40-ASA1,693,2513
71.05
(8) (b) A Wisconsin net operating loss may be carried forward against
14Wisconsin taxable incomes of the next 15 taxable years, if the taxpayer was subject
15to taxation under this chapter in the taxable year in which the loss was sustained,
16to the extent not offset against other income of the year of loss and to the extent not
17offset against Wisconsin modified taxable income of any year between the loss year
18and the taxable year for which the loss carry-forward is claimed. In this paragraph,
19"Wisconsin modified taxable income" means Wisconsin taxable income with the
20following exceptions: a net operating loss deduction or offset for the loss year or any
21taxable year thereafter is not allowed, the deduction for long-term capital gains
22under
sub. subs. (6) (b) 9.
and 9m. and (25) is not allowed, the amount deductible for
23losses from sales or exchanges of capital assets may not exceed the amount
24includable in income for gains from sales or exchanges of capital assets and
25"Wisconsin modified taxable income" may not be less than zero.
AB40-ASA1,694,32
71.05
(24) (a) 4. "Qualified new business venture" means a business certified
3by the department of commerce under s.
238.20 or s. 560.2085
, 2009 stats.
AB40-ASA1,694,65
71.05
(25) Capital gains exclusion; Wisconsin-source assets. (a) In this
6subsection:
AB40-ASA1,694,97
1. "Claimant" means an individual; an individual partner or member of a
8partnership, limited liability company, or limited liability partnership; or an
9individual shareholder of a tax-option corporation.
AB40-ASA1,694,1610
2. "Qualifying gain" means the gain realized from the sale of any asset which
11is a Wisconsin capital asset in the year it is purchased by the claimant and for at least
122 of the subsequent 4 years; that is purchased after December 31, 2010; that is held
13for at least 5 uninterrupted years; and that is treated as a long-term gain under the
14Internal Revenue Code; except that a qualifying gain may not include any amount
15for which the claimant claimed a subtraction under sub. (24) (b) or any gain described
16under sub. (26) (b) 1.
AB40-ASA1,694,1817
3. "Wisconsin business" means a business certified by the Wisconsin Economic
18Development Corporation under s. 238.145.
AB40-ASA1,694,1919
4. "Wisconsin capital asset" means any of the following:
AB40-ASA1,694,2120
a. Real or tangible personal property that is located in this state and used in
21a Wisconsin business.
AB40-ASA1,694,2222
b. Stock or other ownership interest in a Wisconsin business.
AB40-ASA1,695,223
(b) For taxable years beginning after December 31, 2015, for a Wisconsin
24capital asset that is purchased after December 31, 2010, and held for at least 5 years,
1a claimant may subtract from federal adjusted gross income the lesser of one of the
2following amounts, to the extent that it is not subtracted under sub. (6) (b) 9. or 9m.:
AB40-ASA1,695,63
1. The amount of the claimant's federal net capital gain as reported on Schedule
4D of the claimant's federal income tax return for the taxable year to which the claim
5relates, but this subdivision applies only if, in that taxable year, the claimant has a
6qualifying gain.
AB40-ASA1,695,87
2. The amount of the claimant's qualifying gain in the year to which the claim
8relates.
AB40-ASA1,695,1110
71.05
(26) Income tax deferral; long-term Wisconsin capital assets. (a) In
11this subsection:
AB40-ASA1,695,1412
1. "Claimant" means an individual; an individual partner or member of a
13partnership, limited liability company, or limited liability partnership; or an
14individual shareholder of a tax-option corporation.
AB40-ASA1,695,1515
2. "Financial institution" has the meaning given in s. 69.30 (1) (b).
AB40-ASA1,695,1816
3. "Long-term capital gain" means the gain realized from the sale of any capital
17asset held more than one year that is treated as a long-term gain under the Internal
18Revenue Code.
AB40-ASA1,695,2019
4. "Qualified Wisconsin business" means a business certified by the Wisconsin
20Economic Development Corporation under s. 238.146.
AB40-ASA1,695,2321
(b) For taxable years beginning after December 31, 2010, a claimant may
22subtract from federal adjusted gross income any amount of a long-term capital gain
23if the claimant does all of the following:
AB40-ASA1,695,2424
1. Deposits the gain into a segregated account in a financial institution.
AB40-ASA1,696,3
12. Within 180 days after the sale of the asset that generated the gain, invests
2all of the proceeds in the account described under subd. 1. in a qualified Wisconsin
3business.
AB40-ASA1,696,94
3. After making the investment as described under subd. 2., notifies the
5department, on a form prepared by the department, that the claimant will not
6declare on the claimant's income tax return the gain described under subd. 1. because
7the claimant has reinvested the capital gain as described under subd. 2. The form
8shall be sent to the department along with the claimant's income tax return for the
9year to which the claim relates.
AB40-ASA1,696,1210
(c) The basis of the investment described in par. (b) 2. shall be calculated by
11subtracting the gain described in par. (b) 1. from the amount of the investment
12described in par. (b) 2.
AB40-ASA1,696,1513
(d) If a claimant defers the payment of income taxes on a capital gain under this
14subsection, the claimant may not use the gain described under par. (b) 1. to net
15capital gains and losses, as described under sub. (10) (c).
AB40-ASA1,696,1716
(e) If a claimant claims the subtraction under this subsection, the claimant may
17not use the gain described under par. (b) 1. to claim a subtraction under sub. (24).
AB40-ASA1,696,1918
(f) If a claimant claims the subtraction under this subsection, the gain
19described under par. (b) 1. may not be used as a qualifying gain under sub. (25).
AB40-ASA1,697,221
71.07
(2dd) (b) Except as provided in s. 73.03 (35), for any taxable year for
22which that person is certified under s. 560.765 (3)
, 2009 stats., and begins business
23operations in a zone under s. 560.71
, 2009 stats., after July 29, 1995, or certified
24under s. 560.797 (4) (a)
, 2009 stats., for each zone for which the person is certified
1or entitled a person may credit against taxes otherwise due under this subchapter
2employment-related day care expenses, up to $1,200 for each qualifying individual.
AB40-ASA1, s. 1766
3Section
1766. 71.07 (2de) (a) (intro.) of the statutes is amended to read:
AB40-ASA1,697,124
71.07
(2de) (a) (intro.) Except as provided in s. 73.03 (35), for any taxable year
5for which a person is certified under s. 560.765 (3)
, 2009 stats., and begins business
6operations in a zone under s. 560.71
, 2009 stats., after July 29, 1995, or certified
7under s. 560.797 (4) (a),
2009 stats., for each zone for which the person is certified
8or entitled the person may claim as a credit against taxes otherwise due under this
9subchapter an amount equal to 7.5% of the amount that the person expends to
10remove or contain environmental pollution, as defined in s. 299.01 (4), in the zone or
11to restore soil or groundwater that is affected by environmental pollution, as defined
12in s. 299.01 (4), in the zone if the person fulfills all of the following requirements:
AB40-ASA1,697,1814
71.07
(2de) (a) 1. Begins the work, other than planning and investigating, for
15which the credit is claimed after the area that includes the site where the work is
16done is designated a development zone under s. 560.71
, 2009 stats., or an enterprise
17development zone under s. 560.797
, 2009 stats., and after the claimant is certified
18under s. 560.765 (3)
, 2009 stats., or certified under s. 560.797 (4) (a)
, 2009 stats.
AB40-ASA1, s. 1768
19Section
1768. 71.07 (2di) (a) (intro.) of the statutes is amended to read:
AB40-ASA1,698,220
71.07
(2di) (a) (intro.) Except as provided in pars. (dm) and (f) and s. 73.03 (35),
21for any taxable year for which the person is entitled under s. 560.795 (3)
, 2009 stats., 22to claim tax benefits, any person may claim as a credit against taxes otherwise due
23under this chapter 2.5% of the purchase price of depreciable, tangible personal
24property, or 1.75% of the purchase price of depreciable, tangible personal property
1that is expensed under section
179 of the internal revenue code for purposes of the
2taxes under this chapter, except that:
AB40-ASA1,698,94
71.07
(2di) (a) 1. The investment must be in property that is purchased after
5the person is entitled under s. 560.795 (3)
, 2009 stats., to claim tax benefits and that
6is used for at least 50% of its use in the conduct of the person's business operations
7at a location in a development zone under subch. VI of ch. 560
, 2009 stats., or, if the
8property is mobile, the base of operations of the property for at least 50% of its use
9must be a location in a development zone.
AB40-ASA1,698,2211
71.07
(2di) (b) 2. If the claimant is located on an Indian reservation, as defined
12in s. 560.86 (5),
2009 stats., and is an American Indian, as defined in s. 560.86 (1),
132009 stats., an Indian business, as defined in s. 560.86 (4),
2009 stats., or a tribal
14enterprise, and if the allowable amount of the credit under this subsection exceeds
15the taxes otherwise due under this chapter on or measured by the claimant's income,
16the amount of the credit not used as an offset against those taxes shall be certified
17to the department of administration for payment to the claimant by check, share
18draft or other draft. In this subdivision, "tribal enterprise" means a business that
19is at least 51% owned and controlled by the governing body of one or more Indian
20tribes, is actively managed by the governing body, or by the designee of the governing
21body, of one or more Indian tribes and is currently performing a useful business
22function.
AB40-ASA1,699,1524
71.07
(2di) (b) 3. Partnerships, limited liability companies and tax-option
25corporations may not claim the credit under this subsection, but the eligibility for,
1and amount of, that credit shall be determined on the basis of their economic activity,
2not that of their shareholders, partners or members. The corporation, partnership
3or company shall compute the amount of the credit that may be claimed by each of
4its shareholders, partners or members and shall provide that information to each of
5its shareholders, partners or members. Partners, members of limited liability
6companies and shareholders of tax-option corporations may claim the credit based
7on the partnership's, company's or corporation's activities in proportion to their
8ownership interest and may offset it against the tax attributable to their income from
9the partnership's, company's or corporation's business operations in the
10development zone; except that partners, members, and shareholders in a
11development zone under s. 560.795 (1) (e)
, 2009 stats., may offset the credit against
12the amount of the tax attributable to their income from all of the partnership's,
13company's, or corporation's business operations; and against the tax attributable to
14their income from the partnership's, company's or corporation's directly related
15business operations.
AB40-ASA1,699,1817
71.07
(2di) (d) 1. A copy of a verification from the department of commerce that
18the claimant may claim tax benefits under s. 560.795 (3)
, 2009 stats.
AB40-ASA1,700,220
71.07
(2di) (f) If a person who is entitled under s. 560.795 (3)
, 2009 stats., to
21claim tax benefits becomes ineligible for such tax benefits, that person may claim no
22credits under this subsection for the taxable year that includes the day on which the
23person becomes ineligible for tax benefits or succeeding taxable years and that
24person may carry over no unused credits from previous years to offset tax under this
1chapter for the taxable year that includes the day on which the person becomes
2ineligible for tax benefits or succeeding taxable years.
AB40-ASA1,700,84
71.07
(2di) (g) If a person who is entitled under s. 560.795 (3)
, 2009 stats., to
5claim tax benefits ceases business operations in the development zone during any of
6the taxable years that that zone exists, that person may not carry over to any taxable
7year following the year during which operations cease any unused credits from the
8taxable year during which operations cease or from previous taxable years.
AB40-ASA1, s. 1775
9Section
1775. 71.07 (2dj) (am) (intro.) of the statutes is amended to read:
AB40-ASA1,700,1310
71.07
(2dj) (am) (intro.) Except as provided under par. (f) or s. 73.03 (35), for
11any taxable year for which the person is certified under s. 560.765 (3)
, 2009 stats., 12for tax benefits, any person may claim as a credit against taxes otherwise due under
13this chapter an amount calculated as follows:
AB40-ASA1, s. 1776
14Section
1776. 71.07 (2dj) (am) 4. a. of the statutes is amended to read:
AB40-ASA1,700,2115
71.07
(2dj) (am) 4. a. If certified under s. 560.765 (3)
, 2009 stats., for tax
16benefits before January 1, 1992, modify "qualified wages" as defined in section
51 (b)
17of the internal revenue code to exclude wages paid before the claimant is certified for
18tax benefits and to exclude wages that are paid to employees for work at any location
19that is not in a development zone under subch. VI of ch. 560
, 2009 stats. For purposes
20of this subd. 4. a., mobile employees work at their base of operations and leased or
21rented employees work at the location where they perform services.
AB40-ASA1, s. 1777
22Section
1777. 71.07 (2dj) (am) 4. b. of the statutes is amended to read:
AB40-ASA1,701,423
71.07
(2dj) (am) 4. b. If certified under s. 560.765 (3)
, 2009 stats., for tax
24benefits after December 31, 1991, modify "qualified wages" as defined in section
51 25(b) of the internal revenue code to exclude wages paid before the claimant is certified
1for tax benefits and to exclude wages that are paid to employees for work at any
2location that is not in a development zone under subch. VI of ch. 560
, 2009 stats. For
3purposes of this subd. 4. b., mobile employees and leased or rented employees work
4at their base of operations.
AB40-ASA1, s. 1778
5Section
1778. 71.07 (2dj) (am) 4c. of the statutes is amended to read:
AB40-ASA1,701,106
71.07
(2dj) (am) 4c. Modify the rule for ineligible individuals under section
51 7(i) (1) of the internal revenue code to allow credit for the wages of related individuals
8paid by an Indian business, as defined in s. 560.86 (4),
2009 stats., or a tribal
9enterprise, as defined in sub. (2di) (b) 2., if the Indian business or tribal enterprise
10is located in a development zone designated under s. 560.71 (3) (c) 2.
, 2009 stats.
AB40-ASA1, s. 1779
11Section
1779. 71.07 (2dj) (am) 4t. of the statutes is amended to read:
AB40-ASA1,701,1812
71.07
(2dj) (am) 4t. If certified under s. 560.765 (3)
, 2009 stats., for tax benefits
13before January 1, 1992, modify section
51 (i) (3) of the internal revenue code so that
14for leased or rented employees, except employees of a leasing agency certified for tax
15benefits who perform services directly for the agency in a development zone, the
16minimum employment periods apply to the time that they perform services in a
17development zone for a single lessee or renter, not to their employment by the leasing
18agency.
AB40-ASA1,701,2120
71.07
(2dj) (e) 1. A copy of the claimant's certification for tax benefits under s.
21560.765 (3)
, 2009 stats.
AB40-ASA1, s. 1781
22Section
1781. 71.07 (2dj) (e) 3. a. of the statutes is amended to read:
AB40-ASA1,702,223
71.07
(2dj) (e) 3. a. If certified under s. 560.765 (3)
, 2009 stats., for tax benefits
24before January 1, 1992, a statement from the department of commerce verifying the
25amount of qualifying wages and verifying that the employees were hired for work
1only in a development zone or are mobile employees whose base of operations is in
2a development zone.
AB40-ASA1, s. 1782
3Section
1782. 71.07 (2dj) (e) 3. b. of the statutes is amended to read:
