SB62: Bill Text

SB62, s. 138 Section 138. 71.07 (5) (a) 9. of the statutes is created to read:

SB62,66,7 71.07 (5) (a) 9. Expenses under section 162 (e) (1) of the Internal Revenue Code that are deductible because of the exception contained in section 162 (e) (5) of the Internal Revenue Code.

SB62, s. 139 Section 139. 71.07 (6n) of the statutes is created to read:

SB62,66,10 71.07 (6n) Campaign contribution tax credit. (a) Definitions. In this subsection:

SB62,66,13 1. "Candidate" means a candidate, as defined in s. 11.01 (1), for state office who files an application under s. 11.50 (2) for a grant from the Wisconsin election campaign fund that has been accepted by the elections board.

SB62,66,16 2. "Claimant" means an individual who makes a contribution to a candidate and who resides within the same electoral district as the candidate to whom that contribution is made.

SB62,66,19 3. "Contribution" means a contribution, as defined in s. 11.01 (6), made to a candidate or political party committee by an individual for which the individual receives a receipt on a form prescribed by the department.

SB62,66,20 4. "Department" means the department of revenue.

SB62,66,22 5. "Electoral district" means the geographical area that constitutes the jurisdiction of the office that a candidate seeks.

SB62,67,2 6. "Political party committee" means a state or county committee of a political party, as defined in s. 5.02 (13), that on the first day of the taxable year in which a contribution is made is a recognized political party as defined in s. 5.02 (16m) and is registered with the elections board under s. 11.05 (1).

SB62,67,3 7. "State office" has the meaning given in s. 5.02 (23).

SB62,67,8 (b) Filing claims. Subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.02, up to the amount of those taxes, an amount equal to the claimant's contribution not exceeding $50 for each candidate to whom or political party committee to which the claimant makes a contribution.

SB62,67,10 (c) Limitation. The total amount of the credits under this subsection shall not exceed $100 in a taxable year for each claimant.

SB62,67,12 (d) Time period. No credit may be allowed under this subsection unless it is claimed within the time period under s. 71.75 (2).

SB62,67,14 (e) Administration. 1. Subsection (9e) (d), to the extent that it applies to the credit under that subsection, applies to the credit under this subsection.

SB62,67,17 2. The department shall create and make available to candidates a form to be used by candidates and political party committees in issuing receipts for contributions.

SB62, s. 140 Section 140. 71.10 (3) (a) of the statutes is amended to read:

SB62,68,5 71.10 (3) (a) Every individual filing an income tax return who has a tax liability or is entitled to a tax refund may designate $1 $5 for transfer to the Wisconsin election campaign fund for the use of eligible candidates under s. 11.50. If the individuals filing a joint return have a tax liability or are entitled to a tax refund, each individual may make a designation of $1 $5 under this subsection. Each individual making a designation shall indicate whether the amount designated by that individual shall be placed in the general account for the use of all eligible candidates for state office, or in the account of an eligible political party whose name is certified to the secretary of revenue under s. 11.50 (14). If an individual does not indicate that the amount of his or her designation shall be placed in the account of a particular eligible political party, that amount shall be placed in the general account.

SB62, s. 141 Section 141 . 71.10 (3) (b) of the statutes is amended to read:

SB62,68,20 71.10 (3) (b) The secretary of revenue shall provide a place for those designations under par. (a) on the face of the individual income tax return and shall provide next to that place a statement that a designation will not increase tax liability. Annually on August 15 The secretary shall also provide and highlight a place in the instructions that accompany the return for any information submitted to the secretary by the elections board under s. 11.50 (2m) without cost to the board. No later than the 15th day of each month, the secretary of revenue shall certify to the elections board, the department of administration and the state treasurer under s. 11.50 the total amount of designations made on returns processed by the department of revenue during the preceding fiscal year month and the amount of designations made during that month for the general account and for the account of each eligible political party. If any individual attempts to place any condition or restriction upon a designation not authorized under par. (a), that individual is deemed not to have made a designation on his or her tax return.

SB62, s. 142 Section 142. 71.10 (4) (cn) of the statutes is created to read:

SB62,68,22 71.10 (4) (cn) Campaign contribution tax credit under s. 71.07 (6n).

SB62, s. 143 Section 143. 71.26 (1) (a) of the statutes is amended to read:

SB62,70,3 71.26 (1) (a) Certain corporations. Income of corporations organized under ch. 185, except income of a cooperative sickness care association organized under s. 185.981, or of a service insurance corporation organized under ch. 613, that is derived from a health maintenance organization as defined in s. 609.01 (2) or a limited service health organization as defined in s. 609.01 (3), or operating under subch. I of ch. 616 which are bona fide cooperatives operated without pecuniary profit to any shareholder or member, or operated on a cooperative plan pursuant to which they determine and distribute their proceeds in substantial compliance with s. 185.45, and the income, except the unrelated business taxable income as defined in section 512 of the internal revenue code and except income that is derived from a health maintenance organization as defined in s. 609.01 (2) or a limited service health organization as defined in s. 609.01 (3), of all religious, scientific, educational, benevolent or other corporations or associations of individuals not organized or conducted for pecuniary profit. In computing unrelated business taxable income for the purposes of this paragraph, the expenses that are deductible under section 162 (e) (1) of the Internal Revenue Code because of the exception contained in section 162 (e) (5) of the Internal Revenue Code may not be deducted. This paragraph does not apply to the income of savings banks, mutual loan corporations or savings and loan associations. This paragraph does not apply to income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state. This paragraph applies to the income of credit unions except to the income of any credit union that is derived from public deposits for any taxable year in which the credit union is approved as a public depository under ch. 34 and acts as a depository of state or local funds under s. 186.113 (20). For purposes of this paragraph, the income of a credit union that is derived from public deposits is the product of the credit union's gross annual income for the taxable year multiplied by a fraction, the numerator of which is the average monthly balance of public deposits in the credit union during the taxable year, and the denominator of which is the average monthly balance of all deposits in the credit union during the taxable year.

SB62, s. 144 Section 144. 71.26 (2) (b) 1g. of the statutes is created to read:

SB62,70,10 71.26 (2) (b) 1g. In computing the net income under this paragraph of a corporation, conduit or common law trust that qualifies as a regulated investment company, real estate mortgage investment conduit or real estate investment trust, expenses that are deductible under section 162 (e) (1) of the Internal Revenue Code because of the exception contained in section 162 (e) (5) of the Internal Revenue Code may not be deducted.

SB62, s. 145 Section 145. 71.26 (3) (e) 4. of the statutes is created to read:

SB62,70,14 71.26 (3) (e) 4. So that expenses that are deductible under section 162 (e) (1) of the Internal Revenue Code because of the exception contained in section 162 (e) (5) of the Internal Revenue Code may not be deducted.

SB62, s. 146 Section 146. 71.34 (1) (ad) of the statutes is created to read:

SB62,70,18 71.34 (1) (ad) The expenses that are deductible under section 162 (e) (1) of the Internal Revenue Code because of the exception contained in section 162 (e) (5) of the Internal Revenue Code may not be deducted.

SB62, s. 147 Section 147. 71.45 (2) (a) 16. of the statutes is created to read:

SB62,70,22 71.45 (2) (a) 16. By adding to federal taxable income the amount of any expenses that are deductible under section 162 (e) (1) of the Internal Revenue Code because of the exception contained in section 162 (e) (5) of the Internal Revenue Code.

SB62, s. 148 Section 148. 806.04 (11m) of the statutes is created to read:

SB62,71,3 806.04 (11m) Campaign finance registration. Any person who proposes to publish, disseminate or broadcast, or causes to be published, disseminated or broadcast, any communication may commence a proceeding under this section to determine the application to that person of a registration requirement under s. 11.05 (1), (2) or (2g).

SB62, s. 149 Section 149. Nonstatutory provisions.

SB62,71,12 (1) Elections board appointments. Notwithstanding sections 15.07 (1) (c) and 15.61 of the statutes, each political party that qualified for a separate ballot under section 5.62 (1) (b) or (2) of the statutes at the September primary election preceding the effective date of this subsection, but that did not designate an individual to the governor for appointment to the elections board under section 15.61 of the statutes may designate an individual to the governor for appointment to the elections board to serve for a term expiring on May 1 of the odd-numbered year following the appointment.

SB62,71,18 (2) Nonseverability. Notwithstanding section 990.01 (11) of the statutes, if a court finds that all or any portion of section 11.01 (16) (a) 3., 11.12 (6) (c) or (8), or 11.50 (9) (b) or (ba) of the statutes, as created by this act, or section 11.06 (2) of the statutes, as affected by this act, is unconstitutional, then sections 11.01 (16) (a) 3., 11.12 (6) (c) and (8) and 11.50 (9) (b) and (ba) of the statutes, as created by this act, and the treatment of section 11.06 (2) of the statutes by this act are void in their entirety.

SB62, s. 150 Section 150. Appropriation changes; elections board.

SB62,72,2 (1) In the schedule under section 20.005 (3) of the statutes for the appropriation to the elections board under section 20.510 (1) (a) of the statutes, as affected by the acts of 2001, the dollar amount is increased by $76,100 for fiscal year 2001-02 and the dollar amount is increased by $85,100 for fiscal year 2002-03 to increase the authorized FTE positions for the elections board by 1.0 GPR campaign finance investigator position and 1.0 GPR auditor position and to fund supporting expenses for these positions.

SB62, s. 151 Section 151. Initial applicability.

SB62,72,5 (1) Except as provided in subsections (1) and (2), this act first applies to elections held on the day after publication.

SB62,72,12 (2) The treatment of sections 11.50 (2m), 71.05 (6) (a) 21., 71.07 (5) (a) 9. and (6n), 71.10 (3) (a) and (4) (cn), 71.26 (1) (a), (2) (b) 1g., and (3) (e) 4., 71.34 (1) (ad), and 71.45 (2) (a) 16. of the statutes first applies to claims filed for taxable years beginning on January 1 of the year in which this subsection takes effect, except that if this subsection takes effect after July 31 this act first applies to claims filed for taxable years beginning on January 1 of the year following the year in which this subsection takes effect.

SB62,72,14 (3) The treatment of section 11.31 (9) of the statutes first applies to adjustments for the biennium beginning on January 1, 2004.

SB62,72,15 (End)