LRB-4629/1
JK:wlj&hmh:jf
2001 - 2002 LEGISLATURE
January 31, 2002 - Introduced by Representatives Wieckert and Townsend,
cosponsored by Senators Breske and Welch. Referred to Committee on
Economic Development. Referred to Joint Committee on Tax Exemptions.
AB767,1,3
1An Act to create 71.07 (3s) (c) 7., 71.28 (3) (c) 7., 71.47 (3) (c) 7. and 77.54 (30)
2(a) 6. of the statutes;
relating to: the income and franchise tax credit for sales
3tax and use tax paid on fuel and electricity consumed in manufacturing.
Analysis by the Legislative Reference Bureau
Under current law, a manufacturer may claim an income or franchise tax credit
in an amount that is equal to the sales tax and the use tax that the manufacturer paid
on fuel and electricity used for manufacturing tangible personal property in this
state. Under this bill, a manufacturer may not claim the credit for taxable years
beginning after December 31, 2002, but beginning on January 1, 2003, fuel and
electricity sold for use in manufacturing tangible personal property in this state are
exempt from the sales tax and the use tax.
This bill will be referred to the joint survey committee on tax exemptions for a
detailed analysis, which will be printed as an appendix to this bill.
For further information see the state and local 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:
AB767, s. 1
4Section
1. 71.07 (3s) (c) 7. of the statutes is created to read:
AB767,2,4
171.07
(3s) (c) 7. No credit may be claimed under this subsection for taxable
2years that begin after December 31, 2002. Credits that are claimed under this
3subsection for taxable years that begin before January 1, 2003, may be carried
4forward to taxable years that begin after December 31, 2002.
AB767, s. 2
5Section
2. 71.28 (3) (c) 7. of the statutes is created to read:
AB767,2,96
71.28
(3) (c) 7. No credit may be claimed under this subsection for taxable years
7that begin after December 31, 2002. Credits that are claimed under this subsection
8for taxable years that begin before January 1, 2003, may be carried forward to
9taxable years that begin after December 31, 2002.
AB767, s. 3
10Section
3. 71.47 (3) (c) 7. of the statutes is created to read:
AB767,2,1411
71.47
(3) (c) 7. No credit may be claimed under this subsection for taxable years
12that begin after December 31, 2002. Credits that are claimed under this subsection
13for taxable years that begin before January 1, 2003, may be carried forward to
14taxable years that begin after December 31, 2002.
AB767, s. 4
15Section
4. 77.54 (30) (a) 6. of the statutes is created to read:
AB767,2,1716
77.54
(30) (a) 6. Fuel and electricity sold for use in manufacturing tangible
17personal property in this state.
AB767,2,2019
(1) The treatment of section 77.54 (30) (a) 6. of the statutes first applies to fuel
20and electricity sold on January 1, 2003.
