Amendment ASA1-AB61

AB61-ASA1,5,6 71.34 (1k) (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), (1dy), (3), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5n), (5r), (5rm), (6n), and (8r) and passed through to shareholders.

AB61-ASA1, s. 9 Section 9. 71.45 (2) (a) 10. of the statutes, as affected by 2011 Wisconsin Act 32, is amended to read:

AB61-ASA1,5,15 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit computed under s. 71.47 (1dd) to (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5n), (5r), (5rm), (6n), (8r), and (9s) 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 (1k) (g) and the amount of credit computed under s. 71.47 (1), (3), (3t), (4), (4m), and (5).

AB61-ASA1, s. 10 Section 10. 71.47 (6n) of the statutes is created to read:

AB61-ASA1,5,17 71.47 (6n) Green data center credit. (a) Definitions. In this subsection:

AB61-ASA1,5,19 1. "Claimant" means a person who files a claim under this subsection and who is certified under s. 238.21.

AB61-ASA1,5,20 2. "Green data center" has the meaning given in s. 238.21 (1).

AB61-ASA1,6,2 (b) Filing claims. Subject to the limitations provided in this subsection and s. 238.21, for taxable years beginning after December 31, 2011, and before January 1, 2014, a claimant may claim as a credit against the taxes imposed under s. 71.43, up to the amount of the taxes, the amount that the claimant paid in the taxable year for any of the items listed under s. 238.21 (1) (a) 1. to 3., (b) 1. to 4., and (c) that are used to construct a green data center or to retrofit a data center to become a green data center.

AB61-ASA1,6,6 (c) Limitations. 1. The maximum amount of all credits that may be claimed under this subsection and ss. 71.07 (6n) and 71.28 (6n) is $2,000,000. No claimant may claim a credit under this subsection unless the claimant submits with the claimant's return a copy of the claimant's certification for credits under s. 238.21.

AB61-ASA1,6,14 2. 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 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.

AB61-ASA1,6,16 (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.

AB61-ASA1, s. 11 Section 11. 71.49 (1) (dp) of the statutes is created to read:

AB61-ASA1,6,18 71.49 (1) (dp) Green data center credit under s. 71.47 (6n).

AB61-ASA1, s. 12 Section 12. 77.92 (4) of the statutes, as affected by 2011 Wisconsin Act 32, is amended to read:

AB61-ASA1,7,11 77.92 (4) "Net business income," with respect to a partnership, means taxable income as calculated under section 703 of the Internal Revenue Code; plus the items of income and gain under section 702 of the Internal Revenue Code, including taxable state and municipal bond interest and excluding nontaxable interest income or dividend income from federal government obligations; minus the items of loss and deduction under section 702 of the Internal Revenue Code, except items that are not deductible under s. 71.21; plus guaranteed payments to partners under section 707 (c) of the Internal Revenue Code; plus the credits claimed under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3s), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5n), (5r), (5rm), (6n), and (8r); and plus or minus, as appropriate, transitional adjustments, depreciation differences, and basis differences under s. 71.05 (13), (15), (16), (17), and (19); but excluding income, gain, loss, and deductions from farming. "Net business income," with respect to a natural person, estate, or trust, means profit from a trade or business for federal income tax purposes and includes net income derived as an employee as defined in section 3121 (d) (3) of the Internal Revenue Code.

AB61-ASA1, s. 13 Section 13. 238.21 of the statutes is created to read:

AB61-ASA1,7,17 238.21 Green data center tax credit. (1) In this section, "green data center" means a repository for the storage, management, and dissemination of data, if the mechanical, lighting, electrical, and computer systems of the real property in which the repository is located are designed for maximum energy efficiency and minimum environmental impact and if the repository uses all of the following:

AB61-ASA1,7,18 (a) At least 2 of the following:

AB61-ASA1,7,19 1. Low-emission building materials, including carpets and paints.

AB61-ASA1,7,20 2. Sustainable landscaping.

AB61-ASA1,7,21 3. An electronic waste recycling program, as defined by the corporation.

AB61-ASA1,7,22 (b) At least 2 of the following:

AB61-ASA1,7,23 1. Catalytic converters on back-up generators.

AB61-ASA1,7,24 2. Photovoltaics.

AB61-ASA1,7,25 3. Heat pumps.

AB61-ASA1,8,1 4. Evaporative cooling.

AB61-ASA1,8,4 (c) Equipment or equipment components that have at least 25 percent less than the maximum amount allowed under federal law, or none, of at least 4 of the following:

AB61-ASA1,8,5 1. Mercury.

AB61-ASA1,8,6 2. Cadmium.

AB61-ASA1,8,7 3. Lead.

AB61-ASA1,8,8 4. Chromium VI.

AB61-ASA1,8,9 5. Polybrominated biphenyls.

AB61-ASA1,8,10 6. Polybrominated diphenyl ether.

AB61-ASA1,8,14 (2) The corporation shall implement a program to certify businesses for the purposes of ss. 71.07 (6n), 71.28 (6n), and 71.47 (6n). A business shall submit an application to the corporation in each calendar year for which the business desires certification.

AB61-ASA1,8,19 (3) The corporation may certify a business under this section if, in the business's taxable year ending immediately before the date of the business's application, the business paid for an item listed in sub. (1) (a) 1. to 3., (b) 1. to 4., or (c) and the item was used to construct a green data center or to retrofit a data center to become a green data center.

AB61-ASA1,8,23 (4) If the corporation certifies a business under sub. (3), the corporation shall determine the maximum amount of tax credits the business may claim under ss. 71.07 (6n), 71.28 (6n), and 71.47 (6n). The total amount of tax credits allocated to all certified businesses under this section may not exceed $2,000,000.

AB61-ASA1,9,2 (5) The corporation shall notify the department of revenue of every certification under this section, the maximum amount of tax credits a certified business may claim under ss. 71.07 (6n), 71.28 (6n), and 71.47 (6n), and of the date on which a certification is revoked or expires.

AB61-ASA1,9,5 (6) The corporation shall compile a list of businesses certified under this section and the taxable years for which the businesses are certified and shall make the list available to the public at the corporation's Internet Web site.

AB61-ASA1,9,6 (End)