SB550-SA1,1,5 53. Page 3, line 1: before that line insert:
SB550-SA1,1,7 6" Section 1b. 71.05 (6) (a) 15. of the statutes, as affected by 2011 Wisconsin Acts
732
and .... (Senate Bill 260), is amended to read:
SB550-SA1,2,28 71.05 (6) (a) 15. Except as provided under s. 71.07 (3p) (c) 5., the amount of the
9credits computed under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2dr), (2ds),
10(2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3s), (3t), (3w), (5e), (5f), (5h),
11(5i), (5j), (5k), (5n), (5r), (5rm), (6n), and (8r) and not passed through by a partnership,
12limited liability company, or tax-option corporation that has added that amount to

1the partnership's, company's, or tax-option corporation's income under s. 71.21 (4)
2or 71.34 (1k) (g).
SB550-SA1, s. 1c 3Section 1c. 71.07 (6n) of the statutes is created to read:
SB550-SA1,2,44 71.07 (6n) Veteran employment credit. (a) Definitions. In this subsection:
SB550-SA1,2,55 1. "Claimant" means a person who files a claim under this subsection.
SB550-SA1,2,86 2. "Disabled veteran" means a veteran who is verified by the department of
7veteran affairs to have a service-connected disability rating of at least 50 percent
8under 38 USC 1114 or 1134.
SB550-SA1,2,119 3. "Full-time job" means a regular, nonseasonal full-time position in which an
10individual, as a condition of employment, is required to work at least 2,080 hours per
11year, including paid leave and holidays.
SB550-SA1,2,1412 4. "Part-time job" means a regular, nonseasonal part-time position in which
13an individual, as a condition of employment, is required to work fewer than 2,080
14hours per year, including paid leave and holidays.
SB550-SA1,2,1815 5. "Veteran" means a person who is verified by the department of veteran
16affairs to have served on active duty under honorable conditions in the U.S. armed
17forces, in forces incorporated as part of the U.S. armed forces, in the national guard,
18or in a reserve component of the U.S. armed forces.
SB550-SA1,2,2219 (b) Filing claims. Subject to the limitations provided in this subsection, for
20taxable years beginning after December 31, 2011, a claimant may claim as a credit
21against the tax imposed under s. 71.02, up to the amount of the tax, an amount equal
22to any of the following:
SB550-SA1,3,223 1. Subject to par. (c) 4., for each disabled veteran the claimant hires in the
24taxable year to work a full-time job at the claimant's business in this state, $4,000

1in the taxable year in which the disabled veteran is hired and $2,000 in each of the
23 taxable years following the taxable year in which the disabled veteran is hired.
SB550-SA1,3,63 2. Subject to par. (c) 4., for each disabled veteran the claimant hires in the
4taxable year to work a part-time job at the claimant's business in this state, $2,000
5in the taxable year in which the disabled veteran is hired and $1,000 in each of the
63 taxable years following the taxable year in which the disabled veteran is hired.
SB550-SA1,3,147 (c) Limitations. 1. Partnerships, limited liability companies, and tax-option
8corporations may not claim the credit under this subsection, but the eligibility for,
9and the amount of, the credit are based on their hiring of disabled veterans, as
10described under par. (b). A partnership, limited liability company, or tax-option
11corporation shall compute the amount of credit that each of its partners, members,
12or shareholders may claim and shall provide that information to each of them.
13Partners, members of limited liability companies, and shareholders of tax-option
14corporations may claim the credit in proportion to their ownership interests.
SB550-SA1,3,1715 2. No credit may be claimed under this subsection in any taxable year in which
16the disabled veteran voluntarily or involuntarily leaves his or her employment with
17the claimant.
SB550-SA1,3,2118 3. A claimant may claim a credit under this subsection only for hiring a disabled
19veteran who has received unemployment compensation benefits for at least one week
20prior to being hired by the claimant and who was eligible to receive such benefits at
21the time the benefits were paid.
SB550-SA1,3,2322 4. With regard to a credit claimed under par. (b) 2., the amount that the
23claimant may claim is determined as follows:
SB550-SA1,3,2524 a. Divide the number of hours that the disabled veteran worked for the
25claimant during the taxable year by 2,080.
SB550-SA1,4,2
1b. Multiply the amount of the credit under par. (b) 2., as appropriate, by the
2number determined under subd. 4. a.
SB550-SA1,4,43 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
4s. 71.28 (4), applies to the credit under this subsection.
SB550-SA1, s. 1d 5Section 1d. 71.10 (4) (cq) of the statutes is created to read:
SB550-SA1,4,66 71.10 (4) (cq) Veteran employment credit under s. 71.07 (6n).
SB550-SA1, s. 1e 7Section 1e. 71.21 (4) of the statutes, as affected by 2011 Wisconsin Act 32, is
8amended to read:
SB550-SA1,4,129 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di),
10(2dj), (2dL), (2dm), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3s),
11(3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5n), (5r), (5rm), (6n), and (8r) and passed
12through to partners shall be added to the partnership's income.
SB550-SA1, s. 1f 13Section 1f. 71.26 (2) (a) 4. of the statutes, as affected by 2011 Wisconsin Act
1432
, is amended to read:
SB550-SA1,4,2115 71.26 (2) (a) 4. Plus the amount of the credit computed under s. 71.28 (1dd),
16(1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy), (3g), (3h), (3n), (3p), (3q), (3r),
17(3rm), (3rn), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5n), (5r), (5rm), (6n), (8r),
18and (9s) and not passed through by a partnership, limited liability company, or
19tax-option corporation that has added that amount to the partnership's, limited
20liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k)
21(g).
SB550-SA1, s. 1g 22Section 1g. 71.28 (6n) of the statutes is created to read:
SB550-SA1,4,2323 71.28 (6n) Veteran employment credit. (a) Definitions. In this subsection:
SB550-SA1,4,2424 1. "Claimant" means a veteran who files a claim under this subsection.
SB550-SA1,5,3
12. "Disabled veteran" means a veteran who is verified by the department of
2veteran affairs to have a service-connected disability rating of at least 50 percent
3under 38 USC 1114 or 1134.
SB550-SA1,5,64 3. "Full-time job" means a regular, nonseasonal full-time position in which an
5individual, as a condition of employment, is required to work at least 2,080 hours per
6year, including paid leave and holidays.
SB550-SA1,5,97 4. "Part-time job" means a regular, nonseasonal part-time position in which
8an individual, as a condition of employment, is required to work fewer than 2,080
9hours per year, including paid leave and holidays.
SB550-SA1,5,1310 5. "Veteran" means a person who is verified by the department of veteran
11affairs to have served on active duty under honorable conditions in the U.S. armed
12forces, in forces incorporated as part of the U.S. armed forces, in the national guard,
13or in a reserve component of the U.S. armed forces.
SB550-SA1,5,1714 (b) Filing claims. Subject to the limitations provided in this subsection, for
15taxable years beginning after December 31, 2011, a claimant may claim as a credit
16against the tax imposed under s. 71.23, up to the amount of the tax, an amount equal
17to any of the following:
SB550-SA1,5,2118 1. For each disabled veteran the claimant hires in the taxable year to work a
19full-time job at the claimant's business in this state, $4,000 in the taxable year in
20which the disabled veteran is hired and $2,000 in each of the 3 taxable years
21following the taxable year in which the disabled veteran is hired.
SB550-SA1,5,2522 2. Subject to par. (c) 4., for each disabled veteran the claimant hires in the
23taxable year to work a part-time job at the claimant's business in this state, $2,000
24in the taxable year in which the disabled veteran is hired and $1,000 in each of the
253 taxable years following the taxable year in which the disabled veteran is hired.
SB550-SA1,6,8
1(c) Limitations. 1. Partnerships, limited liability companies, and tax-option
2corporations may not claim the credit under this subsection, but the eligibility for,
3and the amount of, the credit are based on their hiring of disabled veterans, as
4described under par. (b). A partnership, limited liability company, or tax-option
5corporation shall compute the amount of credit that each of its partners, members,
6or shareholders may claim and shall provide that information to each of them.
7Partners, members of limited liability companies, and shareholders of tax-option
8corporations may claim the credit in proportion to their ownership interests.
SB550-SA1,6,119 2. No credit may be claimed under this subsection in any taxable year in which
10the disabled veteran voluntarily or involuntarily leaves his or her employment with
11the claimant.
SB550-SA1,6,1512 3. A claimant may claim a credit under this subsection only for hiring a disabled
13veteran who has received unemployment compensation benefits for at least one week
14prior to being hired by the claimant and who was eligible to receive such benefits at
15the time the benefits were paid.
SB550-SA1,6,1716 4. With regard to a credit claimed under par. (b) 2., the amount that the
17claimant may claim is determined as follows:
SB550-SA1,6,1918 a. Divide the number of hours that the disabled veteran worked for the
19claimant during the taxable year by 2,080.
SB550-SA1,6,2120 b. Multiply the amount of the credit under par. (b) 2., as appropriate, by the
21number determined under subd. 4. a.
SB550-SA1,6,2322 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under
23sub. (4), applies to the credit under this subsection.
SB550-SA1, s. 1h 24Section 1h. 71.30 (3) (dp) of the statutes is created to read:
SB550-SA1,6,2525 71.30 (3) (dp) Veteran employment credit under s. 71.28 (6n).
SB550-SA1, s. 1j
1Section 1j. 71.34 (1k) (g) of the statutes, as affected by 2011 Wisconsin Act 32,
2is amended to read:
SB550-SA1,7,63 71.34 (1k) (g) An addition shall be made for credits computed by a tax-option
4corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy),
5(3), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j),
6(5k), (5n), (5r), (5rm), (6n), and (8r) and passed through to shareholders.
SB550-SA1, s. 1k 7Section 1k. 71.45 (2) (a) 10. of the statutes, as affected by 2011 Wisconsin Act
832
, is amended to read:
SB550-SA1,7,159 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
10computed under s. 71.47 (1dd) to (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn),
11(3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5n), (5r), (5rm), (6n), (8r), and (9s) and not
12passed through by a partnership, limited liability company, or tax-option
13corporation that has added that amount to the partnership's, limited liability
14company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g) and
15the amount of credit computed under s. 71.47 (1), (3), (3t), (4), (4m), and (5).
SB550-SA1, s. 1L 16Section 1L. 71.47 (6n) of the statutes is created to read:
SB550-SA1,7,1717 71.47 (6n) Veteran employment credit. (a) Definitions. In this subsection:
SB550-SA1,7,1818 1. "Claimant" means a veteran who files a claim under this subsection.
SB550-SA1,7,2119 2. "Disabled veteran" means a veteran who is verified by the department of
20veteran affairs to have a service-connected disability rating of at least 50 percent
21under 38 USC 1114 or 1134.
SB550-SA1,7,2422 3. "Full-time job" means a regular, nonseasonal full-time position in which an
23individual, as a condition of employment, is required to work at least 2,080 hours per
24year, including paid leave and holidays.
SB550-SA1,8,3
14. "Part-time job" means a regular, nonseasonal part-time position in which
2an individual, as a condition of employment, is required to work fewer than 2,080
3hours per year, including paid leave and holidays.
SB550-SA1,8,74 5. "Veteran" means a person who is verified by the department of veteran
5affairs to have served on active duty under honorable conditions in the U.S. armed
6forces, in forces incorporated as part of the U.S. armed forces, in the national guard,
7or in a reserve component of the U.S. armed forces.
SB550-SA1,8,118 (b) Filing claims. Subject to the limitations provided in this subsection, for
9taxable years beginning after December 31, 2011, a claimant may claim as a credit
10against the tax imposed under s. 71.43, up to the amount of the tax, an amount equal
11to any of the following:
SB550-SA1,8,1512 1. For each disabled veteran the claimant hires in the taxable year to work a
13full-time job at the claimant's business in this state, $4,000 in the taxable year in
14which the disabled veteran is hired and $2,000 in each of the 3 taxable years
15following the taxable year in which the disabled veteran is hired.
SB550-SA1,8,1916 2. Subject to par. (c) 4., for each disabled veteran the claimant hires in the
17taxable year to work a part-time job at the claimant's business in this state, $2,000
18in the taxable year in which the disabled veteran is hired and $1,000 in each of the
193 taxable years following the taxable year in which the disabled veteran is hired.
SB550-SA1,9,220 (c) Limitations. 1. Partnerships, limited liability companies, and tax-option
21corporations may not claim the credit under this subsection, but the eligibility for,
22and the amount of, the credit are based on their hiring of disabled veterans, as
23described under par. (b). A partnership, limited liability company, or tax-option
24corporation shall compute the amount of credit that each of its partners, members,
25or shareholders may claim and shall provide that information to each of them.

1Partners, members of limited liability companies, and shareholders of tax-option
2corporations may claim the credit in proportion to their ownership interests.
SB550-SA1,9,53 2. No credit may be claimed under this subsection in any taxable year in which
4the disabled veteran voluntarily or involuntarily leaves his or her employment with
5the claimant.
SB550-SA1,9,96 3. A claimant may claim a credit under this subsection only for hiring a disabled
7veteran who has received unemployment compensation benefits for at least one week
8prior to being hired by the claimant and who was eligible to receive such benefits at
9the time the benefits were paid.
SB550-SA1,9,1110 4. With regard to a credit claimed under par. (b) 2., the amount that the
11claimant may claim is determined as follows:
SB550-SA1,9,1312 a. Divide the number of hours that the disabled veteran worked for the
13claimant during the taxable year by 2,080.
SB550-SA1,9,1514 b. Multiply the amount of the credit under par. (b) 2., as appropriate, by the
15number determined under subd. 4. a.
SB550-SA1,9,1716 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
17s. 71.28 (4), applies to the credit under this subsection.
SB550-SA1, s. 1m 18Section 1m. 71.49 (1) (dp) of the statutes is created to read:
SB550-SA1,9,1919 71.49 (1) (dp) Veteran employment credit under s. 71.47 (6n).
SB550-SA1, s. 1n 20Section 1n. 77.92 (4) of the statutes, as affected by 2011 Wisconsin Act 32, is
21amended to read:
SB550-SA1,9,2522 77.92 (4) "Net business income," with respect to a partnership, means taxable
23income as calculated under section 703 of the Internal Revenue Code; plus the items
24of income and gain under section 702 of the Internal Revenue Code, including taxable
25state and municipal bond interest and excluding nontaxable interest income or

1dividend income from federal government obligations; minus the items of loss and
2deduction under section 702 of the Internal Revenue Code, except items that are not
3deductible under s. 71.21; plus guaranteed payments to partners under section 707
4(c) of the Internal Revenue Code; plus the credits claimed under s. 71.07 (2dd), (2de),
5(2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r),
6(3rm), (3rn), (3s), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5n), (5r), (5rm), (6n),
7and (8r); and plus or minus, as appropriate, transitional adjustments, depreciation
8differences, and basis differences under s. 71.05 (13), (15), (16), (17), and (19); but
9excluding income, gain, loss, and deductions from farming. "Net business income,"
10with respect to a natural person, estate, or trust, means profit from a trade or
11business for federal income tax purposes and includes net income derived as an
12employee as defined in section 3121 (d) (3) of the Internal Revenue Code.".
SB550-SA1,10,13 134. Page 3, line 1: delete " Section 1" and substitute "Section 1p".
SB550-SA1,10,14 145. Page 6, line 7: after that line insert:
SB550-SA1,10,15 15" Section 10m. Nonstatutory provisions.
SB550-SA1,11,816 (1) Joint finance review. No later than June 30, 2013, the department of
17workforce development, in conjunction with the department of revenue, shall submit
18to the joint committee on finance a report describing the impact of the tax credits
19under sections 71.07 (6n), 71.28 (6n), and 71.47 (6n) of the statutes, as created by this
20act, on unemployed veterans in this state and shall make a recommendation to the
21committee as to whether the tax credits should continue. The report shall also
22specify the number and type of businesses that have claimed the credits under
23sections 71.07 (6n), 71.28 (6n), and 71.47 (6n) of the statutes, as created by this act.
24If the cochairpersons of the committee do not notify the department of workforce

1development and the department of revenue within 14 working days after the
2submittal date of the report that the committee has scheduled a meeting for the
3purpose of reviewing the report's recommendation, the recommendation may be
4implemented. If, within 14 working days after the submittal date of the report, the
5cochairpersons of the committee notify the department of workforce development
6and the department of revenue that the committee has scheduled a meeting for the
7purpose of reviewing the recommendation, the recommendation may be
8implemented only upon approval of the committee.".
SB550-SA1,11,11 96. Page 6, line 9: delete "This act" and substitute "The treatment of sections
10321.60 (1) (c), (2), (2m), (3) (intro.), (a), (b), and (c), (4), and (5) and 440.09 of the
11statutes".
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