SB132-SSA1,10 14Section 10. 71.10 (4) (dm) of the statutes is renumbered 71.10 (4) (fm).
SB132-SSA1,11 15Section 11. 71.28 (6) (a) (intro.) of the statutes, as affected by 2013 Wisconsin
16Act 20
, is renumbered 71.28 (6) (a) 1m. and amended to read:
SB132-SSA1,5,2417 71.28 (6) (a) 1m. Any For taxable years beginning before January 1, 2013, any
18person may credit against taxes otherwise due under this chapter, up to the amount
19of those taxes, an amount equal to one of the following percentages 5 percent of the
20costs of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the
21Internal Revenue Code, for certified historic structures on property located in this
22state if the physical work of construction or destruction in preparation for
23construction begins after December 31, 1988, and the rehabilitated property is
24placed in service after June 30, 1989:, and before January 1, 2013.
SB132-SSA1,12
1Section 12. 71.28 (6) (a) 1. and 2. of the statutes, as created by 2013 Wisconsin
2Act 20
, are repealed.
SB132-SSA1,13 3Section 13. 71.28 (6) (a) 2m. of the statutes is created to read:
SB132-SSA1,6,104 71.28 (6) (a) 2m. For taxable years beginning after December 31, 2012, any
5person may claim as a credit against taxes otherwise due under s. 71.23, up to the
6amount of those taxes, an amount equal to 20 percent of the costs of qualified
7rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue
8Code, for certified historic structures on property located in this state, if the cost of
9the person's qualified rehabilitation expenditures is at least $50,000 and the
10rehabilitated property is placed in service after December 31, 2012.
SB132-SSA1,14 11Section 14. 71.28 (6) (a) 3. of the statutes is created to read:
SB132-SSA1,6,2512 71.28 (6) (a) 3. For taxable years beginning after December 31, 2012, any
13person may claim as a credit against taxes otherwise due under s. 71.23, up to the
14amount of those taxes, an amount equal to 20 percent of the costs of qualified
15rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue
16Code, for qualified rehabilitated buildings, as defined in section 47 (c) (1) of the
17Internal Revenue Code, on property located in this state, if the cost of the person's
18qualified rehabilitation expenditures is at least $50,000 and the rehabilitated
19property is placed in service after December 31, 2012, and regardless of whether the
20rehabilitated property is used for multiple or revenue-producing purposes. No
21credit may be claimed under this subdivision for property listed as a contributing
22building in the state register of historic places or in the national register of historic
23places and no credit may be claimed under this subdivision for nonhistoric,
24nonresidential property converted into housing if the property has been previously
25used for housing.
SB132-SSA1,15
1Section 15. 71.28 (6) (c) of the statutes is renumbered 71.28 (6) (c) (intro.) and
2amended to read:
SB132-SSA1,7,53 71.28 (6) (c) (intro.) No person may claim the credit under this subsection
4unless the claimant includes with the claimant's return evidence each of the
5following:
SB132-SSA1,7,10 61. Evidence that the rehabilitation was recommended by the state historic
7preservation officer for approval by the secretary of the interior under 36 CFR 67.6
8before the physical work of construction, or destruction in preparation for
9construction, began and that the rehabilitation was approved by the secretary of the
10interior under 36 CFR 67.6
state historic preservation officer.
SB132-SSA1,16 11Section 16. 71.28 (6) (c) 2. of the statutes is created to read:
SB132-SSA1,7,1312 71.28 (6) (c) 2. Evidence that the taxpayer obtained written certification from
13the state historic preservation officer that:
SB132-SSA1,7,2214 a. The property is listed on the national register of historic places in Wisconsin
15or the state register of historic places, or is determined by the state historical society
16to be eligible for listing on the national register of historic places in Wisconsin or the
17state register of historic places, or is located in a historic district that is listed in the
18national register of historic places in Wisconsin or the state register of historic places
19and is certified by the state historic preservation officer as being of historic
20significance to the district, or is an outbuilding of an otherwise eligible property
21certified by the state historic preservation officer as contributing to the historic
22significance of the property.
SB132-SSA1,7,2523 b. The proposed preservation or rehabilitation plan complies with standards
24promulgated under s. 44.02 (24) and the completed preservation or rehabilitation
25substantially complies with the proposed plan.
SB132-SSA1,8,2
1c. The costs are not incurred to acquire any building or interest in a building
2or to enlarge an existing building.
SB132-SSA1,8,43 d. The costs were not incurred before the state historical society approved the
4proposed preservation or rehabilitation plan.
SB132-SSA1,17 5Section 17. 71.28 (6) (g) 2. of the statutes is amended to read:
SB132-SSA1,8,126 71.28 (6) (g) 2. Notwithstanding s. 71.77, the department may adjust or
7disallow the credit claimed under this subsection within 4 years after the date that
8the state historical society notifies the department that the expenditures for which
9the credit was claimed do not comply with the standards for certification
10promulgated under s. 44.02 (24). If the department adjusts or disallows, in whole or
11in part, a credit transferred under par. (h), only the person who originally transferred
12the credit to another person is liable to repay the adjusted or disallowed amount.
SB132-SSA1,18 13Section 18. 71.28 (6) (h) of the statutes is created to read:
SB132-SSA1,8,1914 71.28 (6) (h) Any person, including a nonprofit entity described in section 501
15(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under
16par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes
17imposed under s. 71.02, 71.08, 71.23, or 71.43, if the person notifies the department
18of the transfer, and submits with the notification a copy of the transfer documents,
19and the department certifies ownership of the credit with each transfer.
SB132-SSA1,19 20Section 19. 71.47 (6) (a) (intro.) of the statutes, as affected by 2013 Wisconsin
21Act 20
, is renumbered 71.47 (6) (a) 1m. and amended to read:
SB132-SSA1,9,422 71.47 (6) (a) 1m. Any For taxable years beginning before January 1, 2013, any
23person may credit against taxes otherwise due under this chapter, up to the amount
24of those taxes, an amount equal to one of the following percentages 5 percent of the
25costs of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the

1Internal Revenue Code, for certified historic structures on property located in this
2state if the physical work of construction or destruction in preparation for
3construction begins after December 31, 1988, and the rehabilitated property is
4placed in service after June 30, 1989:, and before January 1, 2013.
SB132-SSA1,20 5Section 20. 71.47 (6) (a) 1. and 2. of the statutes, as created by 2013 Wisconsin
6Act 20
, are repealed.
SB132-SSA1,21 7Section 21. 71.47 (6) (a) 2m. of the statutes is created to read:
SB132-SSA1,9,148 71.47 (6) (a) 2m. For taxable years beginning after December 31, 2012, any
9person may claim as a credit against taxes otherwise due under s. 71.23, up to the
10amount of those taxes, an amount equal to 20 percent of the costs of qualified
11rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue
12Code, for certified historic structures on property located in this state, if the cost of
13the person's qualified rehabilitation expenditures is at least $50,000 and the
14rehabilitated property is placed in service after December 31, 2012.
SB132-SSA1,22 15Section 22. 71.47 (6) (a) 3. of the statutes is created to read:
SB132-SSA1,9,2516 71.47 (6) (a) 3. For taxable years beginning after December 31, 2012, any
17person may claim as a credit against taxes otherwise due under s. 71.43, up to the
18amount of those taxes, an amount equal to 20 percent of the costs of qualified
19rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue
20Code, for qualified rehabilitated buildings, as defined in section 47 (c) (1) of the
21Internal Revenue Code, on property located in this state, if the cost of the person's
22qualified rehabilitation expenditures is at least $50,000 and the rehabilitated
23property is placed in service after December 31, 2012, and regardless of whether the
24rehabilitated property is used for multiple or revenue-providing purposes. No credit
25may be claimed under this subdivision for property listed as a contributing building

1in the state register of historic places or in the national register of historic places and
2no credit may be claimed under this subdivision for nonhistoric, nonresidential
3property converted into housing if the property has been previously used for housing.
SB132-SSA1,23 4Section 23. 71.47 (6) (c) of the statutes is renumbered 71.47 (6) (c) (intro.) and
5amended to read:
SB132-SSA1,10,86 71.47 (6) (c) (intro.) No person may claim the credit under this subsection
7unless the claimant includes with the claimant's return evidence each of the
8following:
SB132-SSA1,10,13 91. Evidence that the rehabilitation was recommended by the state historic
10preservation officer for approval by the secretary of the interior under 36 CFR 67.6
11before the physical work of construction, or destruction in preparation for
12construction, began and that the rehabilitation was approved by the secretary of the
13interior under 36 CFR 67.6
state historic preservation officer.
SB132-SSA1,24 14Section 24. 71.47 (6) (c) 2. of the statutes is created to read:
SB132-SSA1,10,1615 71.47 (6) (c) 2. Evidence that the taxpayer obtained written certification from
16the state historic preservation officer that:
SB132-SSA1,10,2517 a. The property is listed on the national register of historic places in Wisconsin
18or the state register of historic places, or is determined by the state historical society
19to be eligible for listing on the national register of historic places in Wisconsin or the
20state register of historic places, or is located in a historic district that is listed in the
21national register of historic places in Wisconsin or the state register of historic places
22and is certified by the state historic preservation officer as being of historic
23significance to the district, or is an outbuilding of an otherwise eligible property
24certified by the state historic preservation officer as contributing to the historic
25significance of the property.
SB132-SSA1,11,3
1b. The proposed preservation or rehabilitation plan complies with standards
2promulgated under s. 44.02 (24) and the completed preservation or rehabilitation
3substantially complies with the proposed plan.
SB132-SSA1,11,54 c. The costs are not incurred to acquire any building or interest in a building
5or to enlarge an existing building.
SB132-SSA1,11,76 d. The costs were not incurred before the state historical society approved the
7proposed preservation or rehabilitation plan.
SB132-SSA1,25 8Section 25. 71.47 (6) (g) 2. of the statutes is amended to read:
SB132-SSA1,11,159 71.47 (6) (g) 2. Notwithstanding s. 71.77, the department may adjust or
10disallow the credit claimed under this subsection within 4 years after the date that
11the state historical society notifies the department that the expenditures for which
12the credit was claimed do not comply with the standards for certification
13promulgated under s. 44.02 (24). If the department adjusts or disallows, in whole or
14in part, a credit transferred under par. (h), only the person who originally transferred
15the credit to another person is liable to repay the adjusted or disallowed amount.
SB132-SSA1,26 16Section 26. 71.47 (6) (h) of the statutes is created to read:
SB132-SSA1,11,2217 71.47 (6) (h) Any person, including a nonprofit entity described in section 501
18(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under
19par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes
20imposed under s. 71.02, 71.08, 71.23, or 71.43, if the person notifies the department
21of the transfer, and submits with the notification a copy of the transfer documents,
22and the department certifies ownership of the credit with each transfer.
SB132-SSA1,27 23Section 27. Nonstatutory provisions.
SB132-SSA1,12,1624 (1) Joint finance review. No later than June 30, 2016, the department of
25revenue, in conjunction with the state historical society, shall submit to the joint

1committee on finance a report describing the economic impact of the tax credits
2under sections 71.07 (9m) (a) 2m. and 3., 71.28 (6) (a) 2m. and 3., and 71.47 (6) (a)
32m. and 3. of the statutes, as affected by this act, and shall make a recommendation
4to the committee as to whether the tax credits should continue. If the department
5of revenue, in conjunction with the state historical society, determines that the cost
6of the tax credits to the state is greater than the investments made in order to claim
7the credits, the department shall recommend in the report that the credits be
8discontinued for taxable years beginning after December 31, 2016. The report shall
9also specify the number and type of claimants who have claimed the credits under
10sections 71.07 (9m) (a) 2m. and 3., 71.28 (6) (a) 2m. and 3., and 71.47 (6) (a) 2m. and
113. of the statutes, as affected by this act, and the commercial purposes for which the
12rehabilitated properties are used. Within 14 working days after the submittal date
13of the report, the cochairpersons of the committee shall notify the department of
14revenue and the state historical society that the committee has scheduled a meeting
15for the purpose of reviewing the recommendation. The recommendation may be
16implemented only upon approval of the committee.
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