AB1033: Bill Text

AB1033, s. 9 Section 9. 71.07 (2dj) (h) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,5,13 71.07 (2dj) (h) For claims based on activity in a zone under s. 560.797, the The rules under sub. (2di) (b) and (c) as they apply to the credit under that subsection apply to the credit under this subsection.

AB1033, s. 10 Section 10. 71.07 (2dL) (ar) of the statutes is amended to read:

AB1033,5,25 71.07 (2dL) (ar) If the credit under par. (a) is claimed for an amount expended to acquire property, the property must have been acquired by the claimant after the place where the property is located was designated a development zone under s. 560.71 and the completed project must be placed in service after the claimant is certified for tax benefits under s. 560.765 (3) and the property must not have been previously owned by the claimant or a related person during the period the development zone is in existence or during the 2 years prior to the designation of the development zone under s. 560.71. No credit is allowed for an amount expended to acquire property until the property, either in its original state as acquired by the claimant or as subsequently constructed, rehabilitated, remodeled or repaired, is placed in service.

AB1033, s. 11 Section 11. 71.07 (2ds) (c) of the statutes, as affected by 1995 Wisconsin Act 27, is repealed.

AB1033, s. 12 Section 12. 71.07 (2ds) (h) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,6,7 71.07 (2ds) (h) For claims based on activity in a zone under s. 560.797, the The rules under sub. (2di) (b) and (c) as they apply to the credit under that subsection apply to the credit under this subsection.

AB1033, s. 13 Section 13. 71.10 (4) (gd) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,6,11 71.10 (4) (gd) Development zones jobs credit under s. 71.07 (2dj) if the credit is based on activity in a zone under s. 560.797.

AB1033, s. 14 Section 14. 71.10 (4) (ge) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,6,15 71.10 (4) (ge) Development zones sales tax credit under s. 71.07 (2ds) if the credit is based on activity in a zone under s. 560.797.

AB1033, s. 15 Section 15. 71.10 (4) (i) of the statutes, as affected by 1995 Wisconsin Act 27, is amended to read:

AB1033,6,25 71.10 (4) (i) The total of claim of right credit under s. 71.07 (1), farmland preservation credit under subch. IX, homestead credit under subch. VIII, farmland tax relief credit under s. 71.07 (3m), farmers' drought property tax credit under s. 71.07 (2fd), development zones sales tax credit under s. 71.07 (2ds) unless the credit is based on activity in a zone under s. 560.797, development zones jobs credit under s. 71.07 (2dj) unless the credit is based on activity in a zone under s. 560.797, earned income tax credit under s. 71.07 (9e), estimated tax payments under s. 71.09, and taxes withheld under subch. X.

AB1033, s. 16 Section 16. 71.28 (1dd) (a) 1. of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,7,6 71.28 (1dd) (a) 1. "Day care center benefits" means benefits provided at a day care facility that is licensed under s. 48.65 or 48.69 and that for compensation provides care for at least 6 children or benefits provided at a facility for persons who are physically or mentally incapable of caring for themselves.

AB1033, s. 17 Section 17. 71.28 (1dd) (f) of the statutes is created to read:

AB1033,7,10 71.28 (1dd) (f) No credit may be allowed under this subsection unless it is claimed within 2 years of the unextended date under s. 71.75 on which the tax return was due.

AB1033, s. 18 Section 18. 71.28 (1dj) (am) 1. of the statutes is amended to read:

AB1033,7,16 71.28 (1dj) (am) 1. Modify "member of a targeted group", as defined in section 51 (d) of the internal revenue code as amended to December 31, 1995, to include persons unemployed as a result of a business action subject to s. 109.07 (1m) and persons specified under 29 USC 1651 (a) and to require a member of a targeted group to be a resident of this state.

AB1033, s. 19 Section 19. 71.28 (1dj) (am) 3. of the statutes is amended to read:

AB1033,7,20 71.28 (1dj) (am) 3. Modify the rule for certification under section 51 (d) (16) (A) of the internal revenue code to allow certification within the 30-day 90-day period beginning with the first day of employment of the employe by the claimant.

AB1033, s. 20 Section 20. 71.28 (1dj) (am) 8m. of the statutes is amended to read:

AB1033,8,2 71.28 (1dj) (am) 8m. For each person, whether or not he or she is a member of a targeted group, who is determined by the department of development to be a resident of the development zone in which he or she is employed, calculate a credit equal to 10% of the wages earned by such person during the first year 1st and 2nd years of the person's employment in the development zone, up to a maximum credit of $600 $1,200.

AB1033, s. 21 Section 21. 71.28 (1dj) (d) of the statutes, as affected by 1995 Wisconsin Act 27, is repealed.

AB1033, s. 22 Section 22. 71.28 (1dj) (h) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,8,9 71.28 (1dj) (h) For claims based on activity in a zone under s. 560.797, the The rules under sub. (1di) (b) and (c) as they apply to the credit under that subsection apply to the credit under this subsection.

AB1033, s. 23 Section 23. 71.28 (1dL) (ar) of the statutes is amended to read:

AB1033,8,21 71.28 (1dL) (ar) If the credit under par. (a) is claimed for an amount expended to acquire property, the property must have been acquired by the claimant after the place where the property is located was designated a development zone under s. 560.71 and the completed project must be placed in service after the claimant is certified for tax benefits under s. 560.765 (3) and the property must not have been previously owned by the claimant or a related person during the period the development zone is in existence or during the 2 years prior to the designation of the development zone under s. 560.71. No credit is allowed for an amount expended to acquire property until the property, either in its original state as acquired by the claimant or as subsequently constructed, rehabilitated, remodeled or repaired, is placed in service.

AB1033, s. 24 Section 24. 71.28 (1ds) (c) of the statutes, as affected by 1995 Wisconsin Act 27, is repealed.

AB1033, s. 25 Section 25. 71.28 (1ds) (h) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,9,3 71.28 (1ds) (h) For claims based on activity in a zone under s. 560.797, the The rules under sub. (1di) (b) and (c) as they apply to the credit under that subsection apply to the credit under this subsection.

AB1033, s. 26 Section 26. 71.30 (3) (eb) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,9,7 71.30 (3) (eb) Development zones jobs credit under s. 71.28 (1dj) if the credit is based on activity in a zone under s. 560.797.

AB1033, s. 27 Section 27. 71.30 (3) (ec) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,9,11 71.30 (3) (ec) Development zones sales tax credit under s. 71.28 (1ds) if the credit is based on activity in a zone under s. 560.797.

AB1033, s. 28 Section 28. 71.30 (3) (f) of the statutes, as affected by 1995 Wisconsin Act 27, is amended to read:

AB1033,9,19 71.30 (3) (f) The total of farmers' drought property tax credit under s. 71.28 (1fd), farmland preservation credit under subch. IX, farmland tax relief credit under s. 71.28 (2m), the development zones sales tax credit under s. 71.28 (1ds) unless the credit is based on activity in a zone under s. 560.797, the development zones job credit under s. 71.28 (1dj) unless the credit is based on activity in a zone under s. 560.797 and estimated tax payments under s. 71.29.

AB1033, s. 29 Section 29. 71.47 (1dd) (a) 1. of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,9,25 71.47 (1dd) (a) 1. "Day care center benefits" means benefits provided at a day care facility that is licensed under s. 48.65 or 48.69 and that for compensation provides care for at least 6 children or benefits provided at a facility for persons who are physically incapable of caring for themselves.

AB1033, s. 30 Section 30. 71.47 (1dd) (f) of the statutes is created to read:

AB1033,10,4 71.47 (1dd) (f) No credit may be allowed under this subsection unless it is claimed within 2 years of the unextended date under s. 71.75 on which the tax return was due.

AB1033, s. 31 Section 31. 71.47 (1dj) (am) 1. of the statutes is amended to read:

AB1033,10,10 71.47 (1dj) (am) 1. Modify "member of a targeted group", as defined in section 51 (d) of the internal revenue code as amended to December 31, 1995, to include persons unemployed as a result of a business action subject to s. 109.07 (1m) and persons specified under 29 USC 1651 (a) and to require a member of a targeted group to be a resident of this state.

AB1033, s. 32 Section 32. 71.47 (1dj) (am) 3. of the statutes is amended to read:

AB1033,10,14 71.47 (1dj) (am) 3. Modify the rule for certification under section 51 (d) (16) (A) of the internal revenue code to allow certification within the 30-day 90-day period beginning with the first day of employment of the employe by the claimant.

AB1033, s. 33 Section 33. 71.47 (1dj) (am) 8m. of the statutes is amended to read:

AB1033,10,21 71.47 (1dj) (am) 8m. For each person, whether or not he or she is a member of a targeted group, who is determined by the department of development to be a resident of the development zone in which he or she is employed, calculate a credit equal to 10% of the wages earned by such person during the first year 1st and 2nd years of the person's employment in the development zone, up to a maximum credit of $600 $1,200.

AB1033, s. 34 Section 34. 71.47 (1dj) (d) of the statutes, as affected by 1995 Wisconsin Act 27, is repealed.

AB1033, s. 35 Section 35. 71.47 (1dj) (h) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,11,3 71.47 (1dj) (h) For claims based on activity in a zone under s. 560.797, the The rules under sub. (1di) (b) and (c) as they apply to the credit under that subsection apply to the credit under this subsection.

AB1033, s. 36 Section 36. 71.47 (1dL) (ar) of the statutes is amended to read:

AB1033,11,15 71.47 (1dL) (ar) If the credit under par. (a) is claimed for an amount expended to acquire property, the property must have been acquired by the claimant after the place where the property is located was designated a development zone under s. 560.71 and the completed project must be placed in service after the claimant is certified for tax benefits under s. 560.765 (3) and the property must not have been previously owned by the claimant or a related person during the period the development zone is in existence or during the 2 years prior to the designation of the development zone under s. 560.71. No credit is allowed for an amount expended to acquire property until the property, either in its original state as acquired by the claimant or as subsequently constructed, rehabilitated, remodeled or repaired, is placed in service.

AB1033, s. 37 Section 37. 71.47 (1ds) (c) of the statutes, as affected by 1995 Wisconsin Act 27, is repealed.

AB1033, s. 38 Section 38. 71.47 (1ds) (h) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,11,22 71.47 (1ds) (h) For claims based on activity in a zone under s. 560.797, the The rules under sub. (1di) (b) and (c) as they apply to the credit under that subsection apply to the credit under this subsection.

AB1033, s. 39 Section 39. 71.49 (1) (eb) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,12,2 71.49 (1) (eb) Development zones jobs credit under s. 71.47 (1dj) if the credit is based on activity in a zone under s. 560.797.

AB1033, s. 40 Section 40. 71.49 (1) (ec) of the statutes, as created by 1995 Wisconsin Act 27, is amended to read:

AB1033,12,6 71.49 (1) (ec) Development zones sales tax credit under s. 72.47 71.47 (1ds) if the credit is based on activity in a zone under s. 560.797.

AB1033, s. 41 Section 41. 71.49 (1) (f) of the statutes, as affected by 1995 Wisconsin Act 27, is amended to read:

AB1033,12,14 71.49 (1) (f) The total of farmers' drought property tax credit under s. 71.47 (1fd), farmland preservation credit under subch. IX, farmland tax relief credit under s. 71.47 (2m), development zones sales tax credit under s. 71.47 (1ds) unless the credit is based on activity in a zone under s. 560.797, development zones jobs credit under s. 71.47 (1dj) unless the credit is based on activity in a zone under s. 560.797 and estimated tax payments under s. 71.48.

AB1033, s. 42 Section 42. 560.70 (4) of the statutes is amended to read:

AB1033,12,18 560.70 (4) "Local governing body" means the governing body of one or more cities, villages or, towns or counties or the elected governing body of a federally recognized American Indian tribe or band in this state.

AB1033, s. 43 Section 43. 560.70 (6) of the statutes is amended to read:

AB1033,12,22 560.70 (6) "Target population" means the residents of a development zone and persons who are members of targeted groups for the purposes of the credit under ss. 71.07 (2dj), 71.28 (1dj) and 71.47 (1dj).

AB1033, s. 44 Section 44. 560.71 (1) (cm) of the statutes is repealed.

AB1033, s. 45 Section 45. 560.71 (1) (e) of the statutes is repealed and recreated to read:

AB1033,12,25 560.71 (1) (e) The department determines all of the following:

AB1033,13,2 1. That designation of the area as a development zone will serve a public purpose.

AB1033,13,4 2. That designation of the area as a development zone will likely retain or increase employment in the area.

AB1033,13,6 3. That economic development in the area is not likely to occur or continue without the department's designation of the area as a development zone.

AB1033,13,7 4. That the area meets at least 3 of the following criteria:

AB1033,13,10 a. The unemployment rate in the area is higher than the state average for the 18 months immediately preceding the date on which the application under s. 560.72 (2) or (3) was submitted to the department.

AB1033,13,13 b. The percentage of persons residing in the area who are members of households with household income levels at or below 80% of the statewide median household income is higher than the state average.

AB1033,13,16 c. The percentage of households in the area receiving unemployment compensation under ch. 108, relief funded by a relief block grant under ch. 49 or aid to families with dependent children under s. 49.19 is higher than the state average.

AB1033,13,20 d. In the 36 months immediately preceding the date on which the application under s. 560.72 (2) or (3) was submitted to the department, a number of workers in the area were permanently laid off by their employer or became unemployed as a result of a business action subject to s. 109.07 (1m).

AB1033,13,24 e. An employer in the vicinity of the area has given public notice under s. 109.07 (1m) of either a business closing or a mass layoff of at least 25 employes, or 25% of the employes, of a business, whichever is greater, that will result in a number of workers in the area being laid off permanently.

AB1033,13,25 f. Property values in the area have been declining.

AB1033,14,1 g. There has been a decline in the population in the area.

AB1033, s. 46 Section 46. 560.71 (1m) of the statutes is created to read:

AB1033,14,4 560.71 (1m) In making a determination under sub. (1) (e), the department shall consider all of the following:

AB1033,14,6 (a) The extent of poverty, unemployment or other factors contributing to general economic hardship in the area.

AB1033,14,7 (b) The prospects for new investment and economic development in the area.

AB1033,14,9 (c) The amount of investment that is likely to result from the designation of the area as a development zone.

AB1033,14,11 (d) The number of jobs that are likely to be created or retained in the area as a result of its designation as a development zone.

AB1033,14,13 (e) The number of jobs that are likely to be available to the target population as a result of the designation of the area as a development zone.

AB1033,14,15 (f) The competitive effect of designating the area as a development zone on other businesses in the vicinity of the area.

AB1033,14,16 (g) The needs of other areas of the state.

AB1033,14,17 (h) Any other factors that the department considers relevant.