Amendment SSA1-SB27

SB27-SSA1,750,4 71.07 (3rn) (c) 3. c. The maximum amount of the credits that may be allocated under this subsection and ss. 71.28 (3rn) and 71.47 (3rn) in fiscal year 2011-12, and in each year thereafter, is $700,000, as allocated under s. 93.54 or s. 560.2056, 2009 stats.

SB27-SSA1, s. 1041 Section 1041. 71.07 (3rn) (c) 6. of the statutes is amended to read:

SB27-SSA1,750,8 71.07 (3rn) (c) 6. No credit may be allowed under this subsection unless the claimant submits with the claimant's return a copy of the claimant's credit certification and allocation under s. 93.54 or s. 560.2056, 2009 stats.

SB27-SSA1, s. 1042 Section 1042. 71.07 (3t) (b) of the statutes is amended to read:

SB27-SSA1,750,15 71.07 (3t) (b) Credit. Subject to the limitations provided in this subsection and in s. 560.28, 2009 stats., for taxable years beginning after December 31, 2007, a claimant may claim as a credit, amortized over 15 taxable years starting with the taxable year beginning after December 31, 2007, against the tax imposed under s. 71.02 and 71.08, up to the amount of the tax, an amount equal to the claimant's unused credits under s. 71.07 (3s).

SB27-SSA1, s. 1043 Section 1043. 71.07 (3t) (c) 1. of the statutes is amended to read:

SB27-SSA1,750,23 71.07 (3t) (c) 1. No credit may be claimed under this subsection unless the claimant submits with the claimant's return a copy of the claimant's certification by the department of commerce under s. 560.28, 2009 stats., except that, with regard to credits claimed by partners of a partnership, members of a limited liability company, or shareholders of a tax-option corporation, the entity shall provide a copy of its certification under s. 560.28, 2009 stats., to the partner, member, or shareholder to submit with his or her return.

SB27-SSA1, s. 1044 Section 1044. 71.07 (3w) (a) 2. of the statutes is amended to read:

SB27-SSA1,751,3 71.07 (3w) (a) 2. "Claimant" means a person who is certified to claim tax benefits under s. 238.399 (5) or s. 560.799 (5), 2009 stats., and who files a claim under this subsection.

SB27-SSA1, s. 1045 Section 1045. 71.07 (3w) (a) 3. of the statutes is amended to read:

SB27-SSA1,751,6 71.07 (3w) (a) 3. "Full-time employee" means a full-time employee, as defined in s. 238.399 (1) (am) or s. 560.799 (1) (am), 2009 stats.

SB27-SSA1, s. 1046 Section 1046. 71.07 (3w) (a) 4. of the statutes is amended to read:

SB27-SSA1,751,9 71.07 (3w) (a) 4. "Enterprise zone" means a zone designated under s. 238.399 or s. 560.799, 2009 stats.

SB27-SSA1, s. 1047 Section 1047. 71.07 (3w) (a) 5d. of the statutes is amended to read:

SB27-SSA1,751,13 71.07 (3w) (a) 5d. "Tier I county or municipality" means a tier I county or municipality, as determined by the department of commerce under s. 238.399 or s. 560.799, 2009 stats.

SB27-SSA1, s. 1048 Section 1048. 71.07 (3w) (a) 5e. of the statutes is amended to read:

SB27-SSA1,751,17 71.07 (3w) (a) 5e. "Tier II county or municipality" means a tier II county or municipality, as determined by the department of commerce under s. 238.399 or s. 560.799, 2009 stats.

SB27-SSA1, s. 1049 Section 1049. 71.07 (3w) (b) (intro.) of the statutes is amended to read:

SB27-SSA1,751,22 71.07 (3w) (b) Filing claims; payroll. (intro.) Subject to the limitations provided in this subsection and s. 238.399 or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 an amount calculated as follows:

SB27-SSA1, s. 1050 Section 1050. 71.07 (3w) (b) 5. of the statutes is amended to read:

SB27-SSA1,752,3 71.07 (3w) (b) 5. Multiply the amount determined under subd. 4. by the percentage determined by the department of commerce under s. 238.399 or s. 560.799, 2009 stats., not to exceed 7 percent.

SB27-SSA1, s. 1051 Section 1051. 71.07 (3w) (bm) 1. of the statutes is amended to read:

SB27-SSA1,752,15 71.07 (3w) (bm) 1. In addition to the credits under par. (b) and subds. 2., 3., and 4., and subject to the limitations provided in this subsection and s. 238.399 or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 an amount equal to a percentage, as determined by the department of commerce under s. 238.399 or s. 560.799, 2009 stats., not to exceed 100 percent, of the amount the claimant paid in the taxable year to upgrade or improve the job-related skills of any of the claimant's full-time employees, to train any of the claimant's full-time employees on the use of job-related new technologies, or to provide job-related training to any full-time employee whose employment with the claimant represents the employee's first full-time job. This subdivision does not apply to employees who do not work in an enterprise zone.

SB27-SSA1, s. 1052 Section 1052. 71.07 (3w) (bm) 2. of the statutes is amended to read:

SB27-SSA1,753,5 71.07 (3w) (bm) 2. In addition to the credits under par. (b) and subds. 1., 3., and 4., and subject to the limitations provided in this subsection and s. 238.399 or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 an amount equal to the percentage, as determined by the department of commerce under s. 238.399 or s. 560.799, 2009 stats., not to exceed 7 percent, of the claimant's zone payroll paid in the taxable year to all of the claimant's full-time employees whose annual wages are greater than $20,000 in a tier I county or municipality, not including the wages paid to the employees determined under par. (b) 1., or greater than $30,000 in a tier II county or municipality, not including the wages paid to the employees determined under par. (b) 1., and who the claimant employed in the enterprise zone in the taxable year, if the total number of such employees is equal to or greater than the total number of such employees in the base year. A claimant may claim a credit under this subdivision for no more than 5 consecutive taxable years.

SB27-SSA1, s. 1053 Section 1053. 71.07 (3w) (bm) 3. of the statutes is amended to read:

SB27-SSA1,753,12 71.07 (3w) (bm) 3. In addition to the credits under par. (b) and subds. 1., 2., and 4., and subject to the limitations provided in this subsection and s. 238.399 or s. 560.799, 2009 stats., for taxable years beginning after December 31, 2008, a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 up to 10 percent of the claimant's significant capital expenditures, as determined by the department of commerce under s. 238.399 (5m) or s. 560.799 (5m), 2009 stats.

SB27-SSA1, s. 1054 Section 1054. 71.07 (3w) (bm) 4. of the statutes is amended to read:

SB27-SSA1,753,22 71.07 (3w) (bm) 4. In addition to the credits under par. (b) and subds. 1., 2., and 3., and subject to the limitations provided in this subsection and s. 238.399 or s. 560.799, 2009 stats., for taxable years beginning after December 31, 2009, a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08, up to 1 percent of the amount that the claimant paid in the taxable year to purchase tangible personal property, items, property, or goods under s. 77.52 (1) (b), (c), or (d), or services from Wisconsin vendors, as determined by the department of commerce under s. 238.399 (5) (e) or s. 560.799 (5) (e), 2009 stats., except that the claimant may not claim the credit under this subdivision and subd. 3. for the same expenditures.

SB27-SSA1, s. 1055 Section 1055. 71.07 (3w) (c) 3. of the statutes is amended to read:

SB27-SSA1,754,3 71.07 (3w) (c) 3. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification for tax benefits under s. 238.399 (5) or (5m) or s. 560.799 (5) or (5m), 2009 stats.

SB27-SSA1, s. 1056 Section 1056. 71.07 (3w) (d) of the statutes is amended to read:

SB27-SSA1,754,9 71.07 (3w) (d) Administration. Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. Claimants shall include with their returns a copy of their certification for tax benefits, and a copy of the verification of their expenses, from the department of commerce or the Wisconsin Economic Development Corporation.

SB27-SSA1, s. 1057 Section 1057. 71.07 (5b) (a) 2. of the statutes is amended to read:

SB27-SSA1,754,12 71.07 (5b) (a) 2. "Fund manager" means an investment fund manager certified under s. 238.15 (2) or s. 560.205 (2), 2009 stats.

SB27-SSA1, s. 1058 Section 1058. 71.07 (5b) (b) 1. of the statutes is amended to read:

SB27-SSA1,754,19 71.07 (5b) (b) 1. For taxable years beginning after December 31, 2004, subject to the limitations provided under this subsection and s. 238.15 or s. 560.205, 2009 stats., and except as provided in subd. 2., a claimant may claim as a credit against the tax imposed under ss. 71.02 and 71.08, up to the amount of those taxes, 25 percent of the claimant's investment paid to a fund manager that the fund manager invests in a business certified under s. 238.15 (1) or s. 560.205 (1), 2009 stats.

SB27-SSA1, s. 1059 Section 1059. 71.07 (5b) (b) 2. of the statutes is amended to read:

SB27-SSA1,755,4 71.07 (5b) (b) 2. In the case of a partnership, limited liability company, or tax-option corporation, the computation of the 25 percent limitation under subd. 1. shall be determined at the entity level rather than the claimant level and may be allocated among the claimants who make investments in the manner set forth in the entity's organizational documents. The entity shall provide to the department of revenue and to the department of commerce or the Wisconsin Economic Development Corporation the names and tax identification numbers of the claimants, the amounts of the credits allocated to the claimants, and the computation of the allocations.

SB27-SSA1, s. 1060 Section 1060. 71.07 (5b) (d) 3. of the statutes is amended to read:

SB27-SSA1,755,10 71.07 (5b) (d) 3. For calendar years beginning investments made after December 31, 2007, if an investment for which a claimant claims a credit under par. (b) is held by the claimant for less than 3 years, the claimant shall pay to the department, in the manner prescribed by the department, the amount of the credit that the claimant received related to the investment.

SB27-SSA1, s. 1061 Section 1061. 71.07 (5d) (a) 1. (intro.) of the statutes is amended to read:

SB27-SSA1,755,14 71.07 (5d) (a) 1. (intro.) "Bona fide angel investment" means a purchase of an equity interest, or any other expenditure, as determined by rule under s. 238.15 or s. 560.205, 2009 stats., that is made by any of the following:

SB27-SSA1, s. 1062 Section 1062. 71.07 (5d) (a) 2m. of the statutes is amended to read:

SB27-SSA1,755,18 71.07 (5d) (a) 2m. "Person" means a partnership or limited liability company that is a nonoperating entity, as determined by the department of commerce or the Wisconsin Economic Development Corporation, a natural person, or fiduciary.

SB27-SSA1, s. 1063 Section 1063. 71.07 (5d) (a) 3. of the statutes is amended to read:

SB27-SSA1,755,21 71.07 (5d) (a) 3. "Qualified new business venture" means a business that is certified under s. 238.15 (1) or s. 560.205 (1), 2009 stats.

SB27-SSA1, s. 1064 Section 1064. 71.07 (5d) (b) (intro.) of the statutes is amended to read:

SB27-SSA1,756,2 71.07 (5d) (b) Filing claims. (intro.) Subject to the limitations provided in this subsection and in s. 238.15 or s. 560.205, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08, up to the amount of those taxes, the following:

SB27-SSA1, s. 1065 Section 1065. 71.07 (5d) (b) 1. of the statutes is amended to read:

SB27-SSA1,756,8 71.07 (5d) (b) 1. For taxable years beginning before January 1, 2008, in each taxable year for 2 consecutive years, beginning with the taxable year as certified by the department of commerce or the Wisconsin Economic Development Corporation, an amount equal to 12.5 percent of the claimant's bona fide angel investment made directly in a qualified new business venture.

SB27-SSA1, s. 1066 Section 1066. 71.07 (5d) (b) 2. of the statutes is amended to read:

SB27-SSA1,756,13 71.07 (5d) (b) 2. For taxable years beginning after December 31, 2007, for the taxable year certified by the department of commerce or the Wisconsin Economic Development Corporation, an amount equal to 25 percent of the claimant's bona fide angel investment made directly in a qualified new business venture.

SB27-SSA1, s. 1067 Section 1067. 71.07 (5d) (c) 2. of the statutes is amended to read:

SB27-SSA1,756,18 71.07 (5d) (c) 2. For taxable years beginning before January 1, 2008, the maximum amount of a claimant's investment that may be used as the basis for a credit under this subsection is $2,000,000 for each investment made directly in a business certified under s. 238.15 (1) or s. 560.205 (1), 2009 stats.

SB27-SSA1, s. 1068 Section 1068. 71.07 (5d) (d) 1. of the statutes is amended to read:

SB27-SSA1,756,24 71.07 (5d) (d) 1. For calendar years beginning investments made after December 31, 2007, if an investment for which a claimant claims a credit under par. (b) is held by the claimant for less than 3 years, the claimant shall pay to the department, in the manner prescribed by the department, the amount of the credit that the claimant received related to the investment.

SB27-SSA1, s. 1069 Section 1069. 71.07 (5f) (a) 1. (intro.) of the statutes is amended to read:

SB27-SSA1,757,11 71.07 (5f) (a) 1. (intro.) "Accredited production" means a film, video, broadcast advertisement, or television production, as approved by the department of commerce or the department of tourism, for which the aggregate salary and wages included in the cost of the production for the period ending 12 months after the month in which the principal filming or taping of the production begins exceeds $50,000. "Accredited production" also means an electronic game, as approved by the department of commerce or the department of tourism, for which the aggregate salary and wages included in the cost of the production for the period ending 36 months after the month in which the principal programming, filming, or taping of the production begins exceeds $100,000. "Accredited production" does not include any of the following, regardless of the production costs:

SB27-SSA1, s. 1070 Section 1070. 71.07 (5f) (a) 3. of the statutes is amended to read:

SB27-SSA1,757,21 71.07 (5f) (a) 3. "Production expenditures" means any expenditures that are incurred in this state and directly used to produce an accredited production, including expenditures for set construction and operation, wardrobes, make-up, clothing accessories, photography, sound recording, sound synchronization, sound mixing, lighting, editing, film processing, film transferring, special effects, visual effects, renting or leasing facilities or equipment, renting or leasing motor vehicles, food, lodging, and any other similar expenditure as determined by the department of commerce or the department of tourism. "Production expenditures" do not include salary, wages, or labor-related contract payments.

SB27-SSA1, s. 1071 Section 1071. 71.07 (5f) (c) 6. of the statutes is amended to read:

SB27-SSA1,758,5 71.07 (5f) (c) 6. No credit may be allowed under this subsection unless the claimant files an application with the department of commerce or the department of tourism, at the time and in the manner prescribed by the department of commerce or the department of tourism, and the department of commerce or the department of tourism approves the application. The claimant shall submit a fee with the application in an amount equal to 2 percent of the claimant's budgeted production expenditures or to $5,000, whichever is less. The claimant shall submit a copy of the approved application with the claimant's return.

SB27-SSA1, s. 1072 Section 1072. 71.07 (5h) (c) 4. of the statutes is amended to read:

SB27-SSA1,758,11 71.07 (5h) (c) 4. No claim may be allowed under this subsection unless the department of commerce or the department of tourism certifies, in writing, that the credits claimed under this subsection are for expenses related to establishing or operating a film production company in this state and the claimant submits a copy of the certification with the claimant's return.

SB27-SSA1, s. 1073 Section 1073. 71.07 (5i) (c) 1. of the statutes is amended to read:

SB27-SSA1,758,15 71.07 (5i) (c) 1. The maximum amount of the credits that may be claimed under this subsection and ss. 71.28 (5i) and 71.47 (5i) in a taxable year is $10,000,000, as allocated under s. 73.15 or s. 560.204, 2009 stats.

SB27-SSA1, s. 1074 Section 1074. 71.07 (5j) (a) 2d. of the statutes is amended to read:

SB27-SSA1,758,21 71.07 (5j) (a) 2d. "Diesel replacement renewable fuel" includes biodiesel and any other fuel derived from a renewable resource that meets all of the applicable requirements of the American Society for Testing and Materials for that fuel and that the department of commerce or the department of safety and professional services designates by rule as a diesel replacement renewable fuel.

SB27-SSA1, s. 1075 Section 1075. 71.07 (5j) (a) 2m. of the statutes is amended to read:

SB27-SSA1,759,2 71.07 (5j) (a) 2m. "Gasoline replacement renewable fuel" includes ethanol and any other fuel derived from a renewable resource that meets all of the applicable requirements of the American Society for Testing and Materials for that fuel and that the department of commerce or the department of safety and professional services designates by rule as a gasoline replacement renewable fuel.

SB27-SSA1, s. 1076 Section 1076. 71.07 (5j) (c) 3. of the statutes is amended to read:

SB27-SSA1,759,9 71.07 (5j) (c) 3. The department of commerce or the department of safety and professional services shall establish standards to adequately prevent, in the distribution of conventional fuel to an end user, the inadvertent distribution of fuel containing a higher percentage of renewable fuel than the maximum percentage established by the federal environmental protection agency for use in conventionally-fueled engines.

SB27-SSA1, s. 1881n Section 1881n. 71.07 (5n) of the statutes is created to read:

SB27-SSA1,759,12 71.07 (5n) Qualified production activities credit. (a) Definitions. In this subsection:2

SB27-SSA1,759,13 1. "Claimant" means a person who files a claim under this subsection.

SB27-SSA1,759,17 2. "Eligible qualified production activities income" means qualified production activities income that derives from property located in this state that is assessed as manufacturing property under s. 70.995 or as agricultural property under s. 70.32 (2) (a) 4.

SB27-SSA1,759,19 3. "Qualified production activities income" means qualified production activities income as defined in 26 USC 199 (c).

SB27-SSA1,759,23 (b) Filing claims. Subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.02, up to the amount of the tax, an amount equal to one of the following percentages of the claimant's eligible qualified production activities income in the taxable year:

SB27-SSA1,759,25 1. For taxable years beginning after December 31, 2012, and before January 1, 2014, 1.875 percent.

SB27-SSA1,760,2 2. For taxable years beginning after December 31, 2013, and before January 1, 2015, 3.75 percent.

SB27-SSA1,760,4 3. For taxable years beginning after December 31, 2014, and before January 1, 2016, 5.526 percent.

SB27-SSA1,760,5 4. For taxable years beginning after December 31, 2015, 7.5 percent.

SB27-SSA1,760,13 (c) Limitations. 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 share of the income 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.

SB27-SSA1,760,15 (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.

SB27-SSA1, s. 1077 Section 1077. 71.07 (9e) (af) (intro.) of the statutes is amended to read:

SB27-SSA1,760,21 71.07 (9e) (af) (intro.) For taxable years beginning after December 31, 1995, and before January 1, 2011, any natural person may credit against the tax imposed under s. 71.02 an amount equal to one of the following percentages of the federal basic earned income credit for which the person is eligible for the taxable year under section 32 (b) (1) (A) to (C) of the internal revenue code Internal Revenue Code:

SB27-SSA1, s. 1078 Section 1078. 71.07 (9e) (aj) of the statutes is created to read:

SB27-SSA1,761,2 71.07 (9e) (aj) For taxable years beginning after December 31, 2010, an individual may credit against the tax imposed under s. 71.02 an amount equal to one of the following percentages of the federal basic earned income credit for which the person is eligible for the taxable year under section 32 (b) (1) (A) to (C) of the Internal Revenue Code: