(2) FILING CLAIMS. For taxable years beginning after December 31, 2008, subject to the limitations provided under this subsection and s. 560.205, an insurer may claim as a credit against the fees imposed under s. 76.60, 76.63, 76.65, 76.66, or 76.67, 25 percent of the insurer's investment paid to a fund manager that the fund manager invests in a business certified under s. 560.205 (1).
(3) INVESTMENT BASIS. The Wisconsin adjusted basis of any investment for which a credit is claimed under sub. (2) shall be reduced by the amount of the credit that is offset against the fees imposed under s. 76.60, 76.63, 76.65, 76.66, or 76.67.
(4) CARRY-FORWARD. If the credit under sub. (2) is not entirely offset against the fees under s. 76.60, 76.63, 76.65, 76.66, or 76.67 otherwise due, the unused balance may be carried forward and credited against those fees for the following 15 years to the extent that it is not offset by those fees otherwise due in all the years between the year in which the expense was made and the year in which the carry-forward credit is claimed.
SECTION 12. 560.205 (1) (intro.) of the statutes is amended to read:
560.205 (1) ANGEL INVESTMENT TAX CREDITS. (intro.) The department shall implement a program to certify businesses for purposes of s. 71.07 (5d). A business desiring certification shall submit an application to the department in each taxable year for which the business desires certification. The business shall specify in its application the investment amount it wishes to raise and the department may certify the business and determine the amount that qualifies for purposes of s. 71.07 (5d). Unless otherwise provided under the rules of the department, a business may be certified under this subsection, and may maintain such certification, only if the business satisfies all of the following conditions:
SECTION 13. 560.205 (1) (f) of the statutes is repealed and recreated to read:
560.205 (1) (f) It has the potential for increasing jobs in this state, increasing capital investment in this state, or both, and any of the following apply:
1. It is engaged in, or has committed to engage in, innovation in any of the following:
a. Manufacturing, biotechnology, nanotechnology, communications, agriculture, or clean energy creation or storage technology.
b. Processing or assembling products, including medical devices, pharmaceuticals, computer software, computer hardware, semiconductors, any other innovative technology products, or other products that are produced using manufacturing methods that are enabled by applying proprietary technology.
c. Services that are enabled by applying proprietary technology.
2. It is undertaking precommercialization activity related to proprietary technology that includes conducting research, developing a new product or business process, or developing a service that is principally reliant on applying proprietary technology.
SECTION 14. 560.205 (1) (g) of the statutes is amended to read:
560.205 (1) (g) It is not primarily engaged in real estate development, insurance, banking, lending, lobbying, political consulting, professional services provided by attorneys, accountants, business consultants, physicians, or health care consultants, wholesale or retail trade, leisure, hospitality, transportation, or construction, except construction of power production plants that derive energy from a renewable resource, as defined in s. 196.378 (1) (h).
SECTION 15. 560.205 (1) (k) of the statutes is amended to read:
560.205 (1) (k) It For taxable years beginning before January 1, 2008, it has not received more than $1,000,000 in investments that have qualified for tax credits under s. 71.07 (5d).
SECTION 16. 560.205 (1) (kn) of the statutes is created to read:
560.205 (1) (kn) For taxable years beginning after December 31, 2007, and before January 1, 2011, it has not received more than $4,000,000 in investments that have qualified for tax credits under ss. 71.07 (5b) and (5d), 71.28 (5b), 71.47 (5b), and 76.638.
SECTION 17. 560.205 (1) (L) of the statutes is created to read:
560.205 (1) (L) For taxable years beginning after December 31, 2010, it has not received more than $8,000,000 in investments that have qualified for tax credits under ss. 71.07 (5b) and (5d), 71.28 (5b), 71.47 (5b), and 76.638.
SECTION 18. 560.205 (2) of the statutes is amended to read:
560.205 (2) EARLY STAGE SEED INVESTMENT TAX CREDITS. The department shall implement a program to certify investment fund managers for purposes of ss. 71.07 (5b), 71.28 (5b), and 71.47 (5b), and 76.638. An investment fund manager desiring certification shall submit an application to the department. The investment fund manager shall specify in the application the investment amount that the manager wishes to raise and the department may certify the manager and determine the amount that qualifies for purposes of ss. 71.07 (5b), 71.28 (5b), 71.47 (5b), and 76.638. In determining whether to certify an investment fund manager, the department shall consider the investment fund manager's experience in managing venture capital funds, the past performance of investment funds managed by the applicant, the expected level of investment in the investment fund to be managed by the applicant, and any other relevant factors. The department may certify only investment fund managers that commit to consider placing investments in businesses certified under sub. (1).
SECTION 19. 560.205 (3) (d) of the statutes is amended to read:
560.205 (3) (d) Rules. The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section. The rules shall further define "bona fide angel investment" for purposes of s. 71.07 (5d) (a) 1. The rules shall limit the aggregate amount of tax credits under s. 71.07 (5d) that may be claimed for investments in businesses certified under sub. (1) at $3,000,000 per calendar year for calendar years beginning after December 31, 2004, and before January 1, 2008, $5,500,000 per calendar year for calendar years beginning after December 31, 2007, and before January 1, 2011, and $18,000,000 per calendar year for calendar years beginning after December 31, 2010, plus, for taxable years beginning after December 31, 2010, an additional $250,000 for tax credits that may be claimed for investments in nanotechnology businesses certified under sub. (1). The rules shall also limit the aggregate amount of the tax credits under ss. 71.07 (5b), 71.28 (5b), and 71.47 (5b), and 76.638 that may be claimed for investments paid to fund managers certified under sub. (2) at $3,500,000 per calendar year for calendar years beginning after December 31, 2004, and before January 1, 2008, $6,000,000 per calendar year for calendar years beginning after December 31, 2007, and before January 1, 2011, and $18,500,000 per calendar year for calendar years beginning after December 31, 2010, plus, for taxable years beginning after December 31, 2010, an additional $250,000 for tax credits that may be claimed for investments in nanotechnology businesses certified under sub. (1). The rules shall also provide that, for calendar years beginning after December 31, 2007, no person may receive a credit under ss. 71.07 (5b) and (5d), 71.28 (5b), or 71.47 (5b), or 76.638 unless the person's investment is kept in a certified business, or with a certified fund manager, for no less than 3 years.
SECTION 20. 560.205 (3) (e) of the statutes is created to read:
560.205 (3) (e) Transfer. A person who is eligible to claim a credit under s. 71.07 (5b) 71.28 (5b), 71.47 (5b), or 76.638 may sell or otherwise transfer the credit to another person who is subject to the taxes or fees imposed under s. 71.02, 71.23, or 71.47 or subch. III of ch. 76, if the person receives prior authorization from the investment fund manager and the manager then notifies the department of commerce and the department of revenue of the transfer and submits with the notification a copy of the transfer documents. No person may sell or otherwise transfer a credit as provided in this paragraph more than once in a 12-month period. The department may charge any person selling or otherwise transferring a credit under this paragraph a fee equal to 1 percent of the credit amount sold or transferred. The department shall deposit all fees collected under this paragraph in the appropriation account under s. 20.143 (1) (gm).
SECTION 9310. Initial applicability; Commerce.
(1) EARLY STAGE SEED INVESTMENT CREDIT. The treatment of section 560.205 (1) (f) and (g), (2), and (3) (e) of the statutes first applies to taxable years beginning on January 1, 2009.
(End)
LRB-0255LRB-0255/P4
JK:bjk:rs
2009 - 2010 LEGISLATURE
DOA:......Weidner, BB0009 - Film production credit cap
For 2009-11 Budget -- Not Ready For Introduction
2009 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
taxation
Income taxation
This bill eliminates the film production services and film production company investment income and franchise tax credits.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 71.07 (5f) (e) of the statutes is created to read:
71.07 (5f) (e) Sunset. No credit may be claimed under this subsection for taxable years beginning after December 31, 2008. Credits under par. (b) 1. for taxable years beginning before January 1, 2009, may be carried forward to taxable years beginning after December 31, 2008.
SECTION 2. 71.07 (5h) (e) of the statutes is created to read:
71.07 (5h) (e) Sunset. No credit may be claimed under this subsection for taxable years beginning after December 31, 2008. Credits under this subsection for taxable years beginning before January 1, 2009, may be carried forward to taxable years beginning after December 31, 2008.
SECTION 3. 71.28 (5f) (e) of the statutes is created to read:
71.28 (5f) (e) Sunset. No credit may be claimed under this subsection for taxable years beginning after December 31, 2008. Credits under par. (b) 1. for taxable years beginning before January 1, 2009, may be carried forward to taxable years beginning after December 31, 2008.
SECTION 4. 71.28 (5h) (e) of the statutes is created to read:
71.28 (5h) (e) Sunset. No credit may be claimed under this subsection for taxable years beginning after December 31, 2008. Credits under this subsection for taxable years beginning before January 1, 2009, may be carried forward to taxable years beginning after December 31, 2008.
SECTION 5. 71.47 (5f) (e) of the statutes is created to read:
71.47 (5f) (e) Sunset. No credit may be claimed under this subsection for taxable years beginning after December 31, 2008. Credits under par. (b) 1. for taxable years beginning before January 1, 2009, may be carried forward to taxable years beginning after December 31, 2008.
SECTION 6. 71.47 (5h) (e) of the statutes is created to read:
71.47 (5h) (e) Sunset. No credit may be claimed under this subsection for taxable years beginning after December 31, 2008. Credits under this subsection for taxable years beginning before January 1, 2009, may be carried forward to taxable years beginning after December 31, 2008.
(End)
LRB-0259LRB-0259/1
RNK:jld:ph
2009 - 2010 LEGISLATURE
DOA:......Weidner, BB0002 - Fees for plumbing and fire sprinkler credentials
For 2009-11 Budget -- Not Ready For Introduction
2009 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
commerce and economic development
Buildings and safety
Under current law, the Department of Commerce (Commerce) is generally required to regulate the construction of public buildings and buildings that are places of employment. Current law also authorizes Commerce to conduct inspections and to administer examinations, and issue certain credentials, to persons engaged in the construction trades, such as plumbers and electricians. Commerce is required to fix, by rule, the amount of the fees for the various services that it provides for these purposes. Current law establishes the maximum fees that Commerce may charge for certain services including examinations and licenses for master and journeyman plumbers and for automatic fire sprinkler contractors. This bill eliminates the mandatory caps on the amounts that Commerce may charge for these services and instead provides that the fees established by rule must as closely as possible equal the cost of providing the services.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 145.08 (1) (intro.) of the statutes is amended to read:
145.08 (1) (intro.) The department shall fix, by rule, the amount of the establish fees by rule for the examinations, licenses, and registrations specified in this section. The fees specified in this section are not returnable and may not exceed the amounts stated in this section as follows established by the department shall as closely as possible equal the cost of providing the following services:
SECTION 2. 145.08 (1) (a) of the statutes is amended to read:
145.08 (1) (a) For Administering a master plumber's examination, $50. For each subsequent examination, $30.
SECTION 3. 145.08 (1) (b) of the statutes is amended to read:
145.08 (1) (b) For Issuing a master plumber's license, $500, and $500 for each renewal of the 4-year license if application is made prior to the date of expiration; after that date an additional fee of $20.
SECTION 4. 145.08 (1) (c) of the statutes is amended to read:
145.08 (1) (c) For Administering a journeyman plumber's examination, $30. For each subsequent examination, $20.
SECTION 5. 145.08 (1) (d) of the statutes is amended to read:
145.08 (1) (d) For Issuing a journeyman plumber's license, $180, and $180 for each renewal of the 4-year license if application is made prior to the date of expiration; after that date an additional fee of $10.
SECTION 6. 145.08 (1) (e) of the statutes is amended to read:
145.08 (1) (e) For Issuing a temporary permit pending examination and issuance of a license for master plumber, $400; for or journeyman $150 and which shall also cover the examination fee prescribed and the license fee for the 4-year period in which issued plumber.
SECTION 7. 145.08 (1) (f) of the statutes is amended to read:
145.08 (1) (f) For Administering a master plumber's (restricted) examination, $50. For each subsequent examination, $30.
SECTION 8. 145.08 (1) (g) of the statutes is amended to read:
145.08 (1) (g) For Issuing a master plumber's license (restricted), $500, and $500 for each renewal of the 4-year license if application is made prior to the date of expiration; after that date an additional fee of $20.
SECTION 9. 145.08 (1) (h) of the statutes is amended to read:
145.08 (1) (h) For Administering a journeyman plumber's (restricted) examination, $30. For each subsequent examination, $20.
SECTION 10. 145.08 (1) (i) of the statutes is amended to read:
145.08 (1) (i) For Issuing a journeyman plumber's license (restricted), $180, and $180 for each renewal of the 4-year license if application is made prior to the date of expiration; after that date an additional fee of $10.
SECTION 11. 145.08 (1) (k) of the statutes is amended to read:
145.08 (1) (k) For Administering an automatic fire sprinkler contractor's examination, $100.
SECTION 12. 145.08 (1) (L) of the statutes is amended to read:
145.08 (1) (L) For Issuing an automatic fire sprinkler contractor's license, $2,000, and $2,000 for each renewal of the 4-year license if application is made prior to the date of expiration; after that date an additional fee of $25.
SECTION 13. 145.08 (1) (Lm) of the statutes is amended to read:
