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1c. The building was constructed as a barn for agricultural purposes before 1960
2as determined by the state historical society, was originally clad with wood or
3constructed of masonry, and retains physical characteristics dating to its
4agricultural use.
AB1046,4,75 4. "Historic building" means a nonresidential building or structure that the
6state historical society certifies to the department was constructed before 1960 and
7contributes to the significance of a complex containing a historic barn.
AB1046,4,138 (b) Filing claims. Subject to the limitations provided in this subsection, a
9claimant may claim as a credit against the tax imposed under s. 71.02, up to the
10amount of those taxes, an amount equal to 25 percent of the costs incurred by the
11claimant in the preservation or rehabilitation of a historic barn or historic building
12located in this state, including architectural fees, if the physical work of construction
13or destruction in preparation for construction begins after January 1, 2006.
AB1046,4,1514 (c) Limitations. 1. No credit may be allowed under this subsection unless all
15of the following apply:
AB1046,4,1616 a. The credit is claimed within the time period under s. 71.75 (2).
AB1046,4,1917 b. The state historical society certifies to the department that the proposed
18preservation or rehabilitation plan complies with the standards promulgated under
19s. 44.02 (24).
AB1046,4,2220 c. The preservation or rehabilitation work is completed within 5 years after the
21date that the physical work of construction or destruction in preparation for
22construction begins.
AB1046,4,2423 d. The expenditures for preservation or rehabilitation of the historic barn or
24historic building exceed $10,000.
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1e. The state historical society certifies to the department that the completed
2preservation or rehabilitation substantially complies with the proposed plan.
AB1046,5,43 f. The costs are not incurred to acquire any building or interest in a building
4or to enlarge existing building.
AB1046,5,65 g. The costs were not incurred before the state historical society certified the
6proposed preservation or rehabilitation plan under subd. 1. b.
AB1046,5,97 2. The costs incurred for the preservation or rehabilitation of a historic barn
8or historic building , for which a claim may be made under this subsection, are limited
9to costs to preserve or rehabilitate the following:
AB1046,5,1010 a. The exterior of such a barn or building.
AB1046,5,1111 b. Structural repair to such a barn or building.
AB1046,5,1212 c. Electrical or plumbing systems in such a barn or building.
AB1046,5,1313 d. Heating or ventilation systems in such a barn or building.
AB1046,5,1614 3. With regard to certification by the state historical society that is described
15in par. (a) 3. and 4., the society's certification shall be based on standards
16promulgated under s. 44.02 (24).
AB1046,5,1817 4. The Wisconsin adjusted basis of the historic barn or historic building shall
18be reduced by the amount of any credit awarded under this subsection.
AB1046,5,2019 5. If a claimant files a claim under this subsection, the claimant may not claim
20a credit under sub. (9m) or (9r) for the same expenses.
AB1046,5,24216. If an individual files a claim for a rehabilitation credit under section 47 of
22the Internal Revenue Code for qualified rehabilitation expenditures, as defined in
2326 USC 47 (c) (2), the individual may not file a claim under this subsection for the
24same expenses.
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17. If the historic barn or historic building is owned by 2 or more individuals that
2hold legal title or equitable title as a land contract vendee and are not joint tenants,
3tenants in common, or spouses owning marital property, the credit under this
4subsection may be claimed as follows:
AB1046,6,65 a. For projects benefiting one owner, the individual may claim the credit based
6on eligible costs incurred individually.
AB1046,6,97 b. For projects benefiting 2 or more owners, an individual may claim the credit
8based on eligible costs incurred by benefiting owners in proportion to the individual's
9ownership interest.
AB1046,6,1410 8. No individual may claim the credit under this subsection for the
11rehabilitation of a historic barn or historic building if the barn or building was
12acquired by the individual under an agreement requiring the individual to sell or
13otherwise dispose of the historic barn or historic building back to the previous owner
14within 5 years after the date that the barn or building was acquired.
AB1046,6,1615 (d) Administration. Section 71.28 (4) (f) and (g), to the extent that it applies
16to the credit under that subsection, applies to the credit under this subsection.
AB1046, s. 4 17Section 4. 71.10 (4) (cf) of the statutes is created to read:
AB1046,6,1918 71.10 (4) (cf) The historic barns preservation and rehabilitation credit under
19s. 71.07 (9s).
AB1046, s. 5 20Section 5. 71.74 (8) (d) of the statutes is amended to read:
AB1046,7,721 71.74 (8) (d) If a claim for a state historic rehabilitation credit under s. 71.07
22(9r) or a claim for a historic barns preservation and rehabilitation credit under s.
2371.07 (9s)
is false or excessive, the department shall disallow the claim in full. If a
24credit has been allowed against income taxes otherwise payable, the credit shall be
25canceled and the amount may be recovered by assessment as income taxes are

1assessed. Notwithstanding par. (a) and s. 71.77, the department shall notify the
2claimant of the determination and shall give reasons for the disallowance under sub.
3(11) within 4 years after the date that the state historical society notifies the
4department that the preservation or rehabilitation is not in compliance with s. 71.07
5(9r) (b) 3. b. or 4., or not in compliance with s. 71.07 (9s) (c) 1. b., c., and e., but that
6notification must be made within 6 years after the date that the physical work of
7construction, or destruction in preparation for construction, begins.
AB1046, s. 6 8Section 6. Initial applicability.
AB1046,7,129 (1) This act first applies to taxable years beginning on January 1 of the year
10in which this subsection takes effect, except that if this subsection takes effect after
11July 31 this act first applies to taxable years beginning on January 1 of the year
12following the year in which this subsection takes effect.
AB1046,7,1313 (End)
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