Amendment SA11-SB1

LRBa0093/1

JK:wlj:ch

2013 - 2014 LEGISLATURE

SENATE AMENDMENT 11, TO SENATE BILL 1

February 5, 2013 - Offered by Senator Tiffany.

SB1-SA11,1,1 At the locations indicated, amend the bill as follows:

SB1-SA11,1,2 1. Page 28, line 23: delete lines 23 and 24.

SB1-SA11,1,3 2. Page 34, line 8: after that line insert:

SB1-SA11,1,4 " Section 27g. 70.375 (1) (ar) of the statutes is repealed and recreated to read:

SB1-SA11,1,7 70.375 (1) (ar) "Internal Revenue Code" means the federal Internal Revenue Code, as amended, and applicable federal regulations adopted by the federal department of the treasury.".

SB1-SA11,1,8 3. Page 34, line 24: after that line insert:

SB1-SA11,1,9 " Section 30d. 70.375 (4m) of the statutes is created to read:

SB1-SA11,1,13 70.375 (4m) Generally accepted accounting principles. Except as otherwise provided under this section, a person subject to the tax imposed under sub. (2), shall use generally accepted accounting principles to determine the person's net proceeds occupation tax liability under this section.".

SB1-SA11,2,2 4. Page 35, line 10: after "that" insert ", after the payments are made under sub. (2) (d) 1., 2., and 2m.,".

SB1-SA11,2,3 5. Page 35, line 13: delete "economic development" and substitute "general".

SB1-SA11,2,4 6. Page 36, line 19: after that line insert:

SB1-SA11,2,5 " Section 37d. 70.395 (2) (g) (intro.) of the statutes is amended to read:

SB1-SA11,2,9 70.395 (2) (g) (intro.) The board may distribute the revenues received under sub. (1e) or proceeds thereof in accordance with par. (h) for the following purposes, with a preference to private sector economic development projects under subd. 3., as the board determines necessary:

SB1-SA11,37e Section 37e. 70.395 (2) (g) 3. of the statutes is amended to read:

SB1-SA11,2,12 70.395 (2) (g) 3. Studies and projects for local private sector economic development.".

SB1-SA11,2,13 7. Page 45, line 14: delete lines 14 to 19.

SB1-SA11,2,14 (End)