SB27-SSA1,753,127
71.07
(3w) (bm) 3. In addition to the credits under par. (b) and subds. 1., 2., and
84., and subject to the limitations provided in this subsection and s.
238.399 or s. 9560.799
, 2009 stats., for taxable years beginning after December 31, 2008, a claimant
10may claim as a credit against the tax imposed under s. 71.02 or 71.08 up to 10 percent
11of the claimant's significant capital expenditures, as determined
by the department
12of commerce under s.
238.399 (5m) or s. 560.799 (5m)
, 2009 stats.
SB27-SSA1,753,2214
71.07
(3w) (bm) 4. In addition to the credits under par. (b) and subds. 1., 2., and
153., and subject to the limitations provided in this subsection and s.
238.399 or s. 16560.799
, 2009 stats., for taxable years beginning after December 31, 2009, a claimant
17may claim as a credit against the tax imposed under s. 71.02 or 71.08, up to 1 percent
18of the amount that the claimant paid in the taxable year to purchase tangible
19personal property, items, property, or goods under s. 77.52 (1) (b), (c), or (d), or
20services from Wisconsin vendors, as determined
by the department of commerce 21under s.
238.399 (5) (e) or s. 560.799 (5) (e),
2009 stats., except that the claimant may
22not claim the credit under this subdivision and subd. 3. for the same expenditures.
SB27-SSA1,754,3
171.07
(3w) (c) 3. No credit may be allowed under this subsection unless the
2claimant includes with the claimant's return a copy of the claimant's certification for
3tax benefits under s.
238.399 (5) or (5m) or s. 560.799 (5) or (5m)
, 2009 stats.
SB27-SSA1,754,95
71.07
(3w) (d)
Administration. Section 71.28 (4) (g) and (h), as it applies to the
6credit under s. 71.28 (4), applies to the credit under this subsection. Claimants shall
7include with their returns a copy of their certification for tax benefits, and a copy of
8the verification of their expenses, from the department of commerce
or the Wisconsin
9Economic Development Corporation.
SB27-SSA1,754,1211
71.07
(5b) (a) 2. "Fund manager" means an investment fund manager certified
12under s.
238.15 (2) or s. 560.205 (2)
, 2009 stats.
SB27-SSA1,754,1914
71.07
(5b) (b) 1. For taxable years beginning after December 31, 2004, subject
15to the limitations provided under this subsection and s.
238.15 or s. 560.205
, 2009
16stats., and except as provided in subd. 2., a claimant may claim as a credit against
17the tax imposed under ss. 71.02 and 71.08, up to the amount of those taxes, 25 percent
18of the claimant's investment paid to a fund manager that the fund manager invests
19in a business certified under s.
238.15 (1) or s. 560.205 (1)
, 2009 stats.
SB27-SSA1,755,421
71.07
(5b) (b) 2. In the case of a partnership, limited liability company, or
22tax-option corporation, the computation of the 25 percent limitation under subd. 1.
23shall be determined at the entity level rather than the claimant level and may be
24allocated among the claimants who make investments in the manner set forth in the
25entity's organizational documents. The entity shall provide to the department of
1revenue and to the department of commerce
or the Wisconsin Economic
2Development Corporation the names and tax identification numbers of the
3claimants, the amounts of the credits allocated to the claimants, and the
4computation of the allocations.
SB27-SSA1,755,106
71.07
(5b) (d) 3. For
calendar years beginning investments made after
7December 31, 2007, if an investment for which a claimant claims a credit under par.
8(b) is held by the claimant for less than 3 years, the claimant shall pay to the
9department, in the manner prescribed by the department, the amount of the credit
10that the claimant received related to the investment.
SB27-SSA1, s. 1061
11Section
1061. 71.07 (5d) (a) 1. (intro.) of the statutes is amended to read:
SB27-SSA1,755,1412
71.07
(5d) (a) 1. (intro.) "Bona fide angel investment" means a purchase of an
13equity interest, or any other expenditure, as determined by rule under s.
238.15 or
14s. 560.205
, 2009 stats., that is made by any of the following:
SB27-SSA1,755,1816
71.07
(5d) (a) 2m. "Person" means a partnership or limited liability company
17that is a nonoperating entity, as determined by the department of commerce
or the
18Wisconsin Economic Development Corporation, a natural person, or fiduciary.
SB27-SSA1,755,2120
71.07
(5d) (a) 3. "Qualified new business venture" means a business that is
21certified under s.
238.15 (1) or s. 560.205 (1)
, 2009 stats.
SB27-SSA1, s. 1064
22Section
1064. 71.07 (5d) (b) (intro.) of the statutes is amended to read:
SB27-SSA1,756,223
71.07
(5d) (b)
Filing claims. (intro.) Subject to the limitations provided in this
24subsection and in s.
238.15 or s. 560.205
, 2009 stats., a claimant may claim as a credit
1against the tax imposed under s. 71.02 or 71.08, up to the amount of those taxes, the
2following:
SB27-SSA1,756,84
71.07
(5d) (b) 1. For taxable years beginning before January 1, 2008, in each
5taxable year for 2 consecutive years, beginning with the taxable year as certified by
6the department of commerce
or the Wisconsin Economic Development Corporation,
7an amount equal to 12.5 percent of the claimant's bona fide angel investment made
8directly in a qualified new business venture.
SB27-SSA1,756,1310
71.07
(5d) (b) 2. For taxable years beginning after December 31, 2007, for the
11taxable year certified by the department of commerce
or the Wisconsin Economic
12Development Corporation, an amount equal to 25 percent of the claimant's bona fide
13angel investment made directly in a qualified new business venture.
SB27-SSA1,756,1815
71.07
(5d) (c) 2. For taxable years beginning before January 1, 2008, the
16maximum amount of a claimant's investment that may be used as the basis for a
17credit under this subsection is $2,000,000 for each investment made directly in a
18business certified under s.
238.15 (1) or s. 560.205 (1)
, 2009 stats.
SB27-SSA1,756,2420
71.07
(5d) (d) 1. For
calendar years beginning investments made after
21December 31, 2007, if an investment for which a claimant claims a credit under par.
22(b) is held by the claimant for less than 3 years, the claimant shall pay to the
23department, in the manner prescribed by the department, the amount of the credit
24that the claimant received related to the investment.
SB27-SSA1, s. 1069
25Section
1069. 71.07 (5f) (a) 1. (intro.) of the statutes is amended to read:
SB27-SSA1,757,11
171.07
(5f) (a) 1. (intro.) "Accredited production" means a film, video, broadcast
2advertisement, or television production, as approved by the department of commerce
3or the department of tourism, for which the aggregate salary and wages included in
4the cost of the production for the period ending 12 months after the month in which
5the principal filming or taping of the production begins exceeds $50,000. "Accredited
6production" also means an electronic game, as approved by the department of
7commerce
or the department of tourism, for which the aggregate salary and wages
8included in the cost of the production for the period ending 36 months after the month
9in which the principal programming, filming, or taping of the production begins
10exceeds $100,000. "Accredited production" does not include any of the following,
11regardless of the production costs:
SB27-SSA1,757,2113
71.07
(5f) (a) 3. "Production expenditures" means any expenditures that are
14incurred in this state and directly used to produce an accredited production,
15including expenditures for set construction and operation, wardrobes, make-up,
16clothing accessories, photography, sound recording, sound synchronization, sound
17mixing, lighting, editing, film processing, film transferring, special effects, visual
18effects, renting or leasing facilities or equipment, renting or leasing motor vehicles,
19food, lodging, and any other similar expenditure as determined by the department
20of commerce
or the department of tourism. "Production expenditures" do not include
21salary, wages, or labor-related contract payments.
SB27-SSA1,758,523
71.07
(5f) (c) 6. No credit may be allowed under this subsection unless the
24claimant files an application with the department of commerce
or the department of
25tourism, at the time and in the manner prescribed by the department of commerce
1or the department of tourism, and the department of commerce
or the department
2of tourism approves the application. The claimant shall submit a fee with the
3application in an amount equal to 2 percent of the claimant's budgeted production
4expenditures or to $5,000, whichever is less. The claimant shall submit a copy of the
5approved application with the claimant's return.
SB27-SSA1,758,117
71.07
(5h) (c) 4. No claim may be allowed under this subsection unless the
8department of commerce
or the department of tourism certifies, in writing, that the
9credits claimed under this subsection are for expenses related to establishing or
10operating a film production company in this state and the claimant submits a copy
11of the certification with the claimant's return.
SB27-SSA1,758,1513
71.07
(5i) (c) 1. The maximum amount of the credits that may be claimed under
14this subsection and ss. 71.28 (5i) and 71.47 (5i) in a taxable year is $10,000,000, as
15allocated under s.
73.15 or s. 560.204
, 2009 stats.
SB27-SSA1,758,2117
71.07
(5j) (a) 2d. "Diesel replacement renewable fuel" includes biodiesel and
18any other fuel derived from a renewable resource that meets all of the applicable
19requirements of the American Society for Testing and Materials for that fuel and that
20the department of commerce
or the department of safety and professional services 21designates by rule as a diesel replacement renewable fuel.
SB27-SSA1,759,223
71.07
(5j) (a) 2m. "Gasoline replacement renewable fuel" includes ethanol and
24any other fuel derived from a renewable resource that meets all of the applicable
25requirements of the American Society for Testing and Materials for that fuel and that
1the department of commerce
or the department of safety and professional services 2designates by rule as a gasoline replacement renewable fuel.
SB27-SSA1,759,94
71.07
(5j) (c) 3. The department of commerce
or the department of safety and
5professional services shall establish standards to adequately prevent, in the
6distribution of conventional fuel to an end user, the inadvertent distribution of fuel
7containing a higher percentage of renewable fuel than the maximum percentage
8established by the federal environmental protection agency for use in
9conventionally-fueled engines.
SB27-SSA1,759,1211
71.07
(5n) Qualified production activities credit. (a)
Definitions. In this
12subsection:2
SB27-SSA1,759,1313
1. "Claimant" means a person who files a claim under this subsection.
SB27-SSA1,759,1714
2. "Eligible qualified production activities income" means qualified production
15activities income that derives from property located in this state that is assessed as
16manufacturing property under s. 70.995 or as agricultural property under s. 70.32
17(2) (a) 4.
SB27-SSA1,759,1918
3. "Qualified production activities income" means qualified production
19activities income as defined in
26 USC 199 (c).
SB27-SSA1,759,2320
(b)
Filing claims. Subject to the limitations provided in this subsection, a
21claimant may claim as a credit against the tax imposed under s. 71.02, up to the
22amount of the tax, an amount equal to one of the following percentages of the
23claimant's eligible qualified production activities income in the taxable year:
SB27-SSA1,759,2524
1. For taxable years beginning after December 31, 2012, and before January
251, 2014, 1.875 percent.
SB27-SSA1,760,2
12. For taxable years beginning after December 31, 2013, and before January
21, 2015, 3.75 percent.
SB27-SSA1,760,43
3. For taxable years beginning after December 31, 2014, and before January
41, 2016, 5.526 percent.
SB27-SSA1,760,55
4. For taxable years beginning after December 31, 2015, 7.5 percent.
SB27-SSA1,760,136
(c)
Limitations. Partnerships, limited liability companies, and tax-option
7corporations may not claim the credit under this subsection, but the eligibility for,
8and the amount of, the credit are based on their share of the income described under
9par. (b). A partnership, limited liability company, or tax-option corporation shall
10compute the amount of credit that each of its partners, members, or shareholders
11may claim and shall provide that information to each of them. Partners, members
12of limited liability companies, and shareholders of tax-option corporations may
13claim the credit in proportion to their ownership interests.
SB27-SSA1,760,1514
(d)
Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
15s. 71.28 (4), applies to the credit under this subsection.
SB27-SSA1, s. 1077
16Section
1077. 71.07 (9e) (af) (intro.) of the statutes is amended to read:
SB27-SSA1,760,2117
71.07
(9e) (af) (intro.) For taxable years beginning after December 31, 1995,
18and before January 1, 2011, any natural person may credit against the tax imposed
19under s. 71.02 an amount equal to one of the following percentages of the federal
20basic earned income credit for which the person is eligible for the taxable year under
21section
32 (b) (1) (A) to (C) of the
internal revenue code Internal Revenue Code:
SB27-SSA1,761,223
71.07
(9e) (aj) For taxable years beginning after December 31, 2010, an
24individual may credit against the tax imposed under s. 71.02 an amount equal to one
25of the following percentages of the federal basic earned income credit for which the
1person is eligible for the taxable year under section
32 (b) (1) (A) to (C) of the Internal
2Revenue Code:
SB27-SSA1,761,43
1. If the person has one qualifying child who has the same principal place of
4abode as the person, 4 percent.
SB27-SSA1,761,65
2. If the person has 2 qualifying children who have the same principal place of
6abode as the person, 11 percent.
SB27-SSA1,761,87
3. If the person has 3 or more qualifying children who have the same principal
8place of abode as the person, 34 percent.
SB27-SSA1,761,1111
71.10
(4) (cr) Qualified production activities credit under s. 71.07 (5n).
SB27-SSA1,761,2213
71.10
(5f) (i)
Appropriations and payment. From the moneys received from
14designations for the breast cancer research program, an amount equal to the sum of
15administrative expenses, including data processing costs, certified under par. (h) 1.
16shall be deposited in the general fund and credited to the appropriation account
17under s. 20.566 (1) (hp), and, of the net amount remaining that is certified under par.
18(h) 3., an amount equal to 50 percent shall be credited to the appropriation account
19under s. 20.250 (2) (g) and an amount equal to 50 percent shall be
credited to the
20appropriation account under s. 20.285 (1) (gm) paid to the University of Wisconsin
21System for breast cancer research conducted by the University of Wisconsin Carbone
22Cancer Center.
SB27-SSA1,762,724
71.10
(5h) (i)
Appropriations, disbursement of funds to the fund and payment
. 25From the moneys received from designations for the prostate cancer research
1program, an amount equal to the sum of administrative expenses, including data
2processing costs, certified under par. (h) 1. shall be deposited in the general fund and
3credited to the appropriation account under s. 20.566 (1) (hp), and
, of the net amount
4remaining that is certified under par. (h) 3.
, an amount equal to 50 percent shall be
5credited to the appropriation
accounts account under
ss. s. 20.250 (2) (h) and
20.285
6(1) (gn) an amount equal to 50 percent shall be paid to the University of Wisconsin
7System, for the use specified under s. 255.054 (1).
SB27-SSA1,762,109
71.10
(5k) American Red Cross, Badger Chapter checkoff. (a)
Definitions. 10In this subsection:
SB27-SSA1,762,1111
1. "Badger Chapter" means the Badger Chapter of the American Red Cross.
SB27-SSA1,762,1212
2. "Department" means the department of revenue.
SB27-SSA1,762,1613
(b)
Voluntary payments. 1. `Designation on return.' Every individual filing an
14income tax return who has a tax liability or is entitled to a tax refund may designate
15on the return any amount of additional payment or any amount of a refund due that
16individual for the Badger Chapter.
SB27-SSA1,762,1917
2. `Designation added to tax owed.' If the individual owes any tax, the
18individual shall remit in full the tax due and the amount designated on the return
19for the Badger Chapter when the individual files a tax return.
SB27-SSA1,762,2320
3. `Designation deducted from refund.' Except as provided in par. (d), if the
21individual is owed a refund for that year after crediting under ss. 71.75 (9) and 71.80
22(3) and (3m), the department shall deduct the amount designated on the return for
23the Badger Chapter from the amount of the refund.
SB27-SSA1,763,3
1(c)
Errors; failure to remit correct amount. If an individual who owes taxes fails
2to remit an amount equal to or in excess of the total of the actual tax due, after error
3corrections, and the amount designated on the return for the Badger Chapter:
SB27-SSA1,763,84
1. The department shall reduce the designation for the Badger Chapter to
5reflect the amount remitted in excess of the actual tax due, after error corrections,
6if the individual remitted an amount in excess of the actual tax due, after error
7corrections, but less than the total of the actual tax due, after error corrections, and
8the amount originally designated on the return for the Badger Chapter.
SB27-SSA1,763,109
2. The designation for the Badger Chapter is void if the individual remitted an
10amount equal to or less than the actual tax due, after error corrections.
SB27-SSA1,763,1611
(d)
Errors; insufficient refund. If an individual is owed a refund that does not
12equal or exceed the amount designated on the return for the Badger Chapter, after
13crediting under ss. 71.75 (9) and 71.80 (3) and (3m) and after error corrections, the
14department shall reduce the designation for the Badger Chapter to reflect the actual
15amount of the refund that the individual is otherwise owed, after crediting under ss.
1671.75 (9) and 71.80 (3) and (3m) and after error corrections.
SB27-SSA1,763,1817
(e)
Conditions. If an individual places any conditions on a designation for the
18Badger Chapter, the designation is void.
SB27-SSA1,763,2119
(f)
Void designation. If a designation for the Badger Chapter is void, the
20department shall disregard the designation and determine amounts due, owed,
21refunded, and received without regard to the void designation.
SB27-SSA1,763,2322
(g)
Tax return. The secretary of revenue shall provide a place for the
23designations under this subsection on the individual income tax return.
SB27-SSA1,764,3
1(h)
Certification of amounts. Annually, on or before September 15, the
2secretary of revenue shall certify to the department of health services, the
3department of administration, and the state treasurer all of the following:
SB27-SSA1,764,64
1. The total amount of the administrative costs, including data processing
5costs, incurred by the department in administering this subsection during the
6previous fiscal year.