AB1177,8,2220 c. The maximum amount of the credits that may be claimed under par. (b) 3.
21and ss. 71.28 (2r) (b) 3. and 71.47 (2r) (b) 3. for all taxable years combined is
22$42,000,000.
AB1177,8,2523 d. The maximum amount of the credits that may be claimed under par. (b) 4.
24and ss. 71.28 (2r) (b) 4. and 71.47 (2r) (b) 4. for all taxable years combined is
25$10,000,000.
AB1177,9,3
1e. The maximum amount of the credits that may be claimed under par. (bm)
2and ss. 71.28 (2r) (bm) and 71.47 (2r) (bm) for all taxable years combined is
3$3,000,000.
AB1177,9,74 2. The maximum amount of an investment that a claimant who is an individual
5may make that may be used as the basis for a credit under this subsection is $500,000
6for each investment made directly or indirectly in a business certified under s. 560.20
7(2) (b), (d), and (e).
AB1177,9,158 3. Partnerships, limited liability companies, and tax-option corporations may
9not claim the credit under par. (b), but the eligibility for, and the amount of, the credit
10are based on their payment of amounts under par. (b). A partnership, limited
11liability company, or tax-option corporation shall compute the amount of credit that
12each of its partners, members, or shareholders may claim and shall provide that
13information to each of them. Partners, members of limited liability companies, and
14shareholders of tax-option corporations may claim the credit in proportion to their
15ownership interest or as specially allocated in their organizational documents.
AB1177,9,1716 (d) Administration. 1. Section 71.28 (4) (e) to (h), as it applies to the credit
17under s. 71.28 (4), applies to the credit under this subsection.
AB1177,9,2118 2. A claimant may sell a credit under this subsection to another person who is
19subject to the taxes imposed under this subchapter, if the claimant notifies the
20department of the sale and includes with the notification a copy of the transfer
21documents.
AB1177, s. 8 22Section 8. 71.07 (2s) of the statutes is created to read:
AB1177,9,2523 71.07 (2s) Tribal gaming compact credit. (a) Definition. In this subsection,
24"claimant" means a Native American tribe that is located in this state, has entered
25into a gaming compact with this state, and files a claim under this subsection.
AB1177,10,5
1(b) Filing claims. Subject to the limitations provided in this subsection, for
2taxable years beginning after December 31, 2005, a claimant may claim as a credit
3against the tax imposed under ss. 71.02 and 71.08, up to the amount of the taxes, an
4amount equal to the amount the claimant paid in the taxable year to the state
5pursuant to a gaming compact, not to exceed $10,000,000 in any taxable year.
AB1177,10,86 (c) Limitations. 1. No credit may be allowed under this subsection unless the
7claimant, in the taxable year, invests in a business this is certified to receive
8investments under s. 560.20 (2).
AB1177,10,109 2. No credit may be allowed under this subsection unless the claimant submits
10with the claimant's return proof of the investment described under subd. 1.
AB1177,10,1311 3. The maximum amount of the credit that may be awarded under this
12subsection and ss. 71.28 (2s) and 71.47 (2s) for all claimants in each taxable year may
13not exceed $100,000,000.
AB1177,10,2114 4. Partnerships, limited liability companies, and tax-option corporations may
15not claim the credit under this subsection, but the eligibility for, and the amount of,
16the credit are based on their payment of amounts under par. (b). A partnership,
17limited liability company, or tax-option corporation shall compute the amount of
18credit that each of its partners, members, or shareholders may claim and shall
19provide that information to each of them. Partners, members of limited liability
20companies, and shareholders of tax-option corporations may claim the credit in
21proportion to their ownership interests.
AB1177,10,2322 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
23s. 71.28 (4), applies to the credit under this subsection.
AB1177, s. 9 24Section 9. 71.10 (4) (gwd) of the statutes is created to read:
AB1177,10,2525 71.10 (4) (gwd) Venture capital investment credits under s. 71.07 (2r).
AB1177, s. 10
1Section 10. 71.10 (4) (gxx) of the statutes is created to read:
AB1177,11,22 71.10 (4) (gxx) Tribal gaming compact credit under s. 71.07 (2s).
AB1177, s. 11 3Section 11. 71.21 (4) of the statutes is amended to read:
AB1177,11,64 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di),
5(2dj), (2dL), (2dm), (2ds), (2dx), (2r), (2s), (3g), (3n), (3s), (3t), and (5b) and passed
6through to partners shall be added to the partnership's income.
AB1177, s. 12 7Section 12. 71.26 (2) (a) of the statutes is amended to read:
AB1177,11,258 71.26 (2) (a) Corporations in general. The "net income" of a corporation means
9the gross income as computed under the Internal Revenue Code as modified under
10sub. (3) minus the amount of recapture under s. 71.28 (1di) plus the amount of credit
11computed under s. 71.28 (1), (3), (4), and (5) minus, as provided under s. 71.28 (3) (c)
127., the amount of the credit under s. 71.28 (3) that the taxpayer added to income
13under this paragraph at the time that the taxpayer first claimed the credit plus the
14amount of the credit computed under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm),
15(1ds), (1dx), (2r), (2s), (3g), (3n), (3t), and (5b) and not passed through by a
16partnership, limited liability company, or tax-option corporation that has added that
17amount to the partnership's, limited liability company's, or tax-option corporation's
18income under s. 71.21 (4) or 71.34 (1) (g) plus the amount of losses from the sale or
19other disposition of assets the gain from which would be wholly exempt income, as
20defined in sub. (3) (L), if the assets were sold or otherwise disposed of at a gain and
21minus deductions, as computed under the Internal Revenue Code as modified under
22sub. (3), plus or minus, as appropriate, an amount equal to the difference between
23the federal basis and Wisconsin basis of any asset sold, exchanged, abandoned, or
24otherwise disposed of in a taxable transaction during the taxable year, except as
25provided in par. (b) and s. 71.45 (2) and (5).
AB1177, s. 13
1Section 13. 71.28 (2r) of the statutes is created to read:
AB1177,12,32 71.28 (2r) Venture capital investment credits. (a) Definitions. In this
3subsection:
AB1177,12,44 1. "Broker-dealer" has the meaning given in s. 551.02 (3).
AB1177,12,55 2. "Claimant" means a person who files a claim under this subsection.
AB1177,12,66 3. "Fund manager" has the meaning given in s. 560.20 (1) (e).
AB1177,12,127 (b) Filing claims. For taxable years beginning on or after January 1, 2006, for
8amounts claimed under subd. 2., and beginning on or after January 1, 2007, for
9amounts claimed under subds. 1., 3., and 4., subject to the limitations provided under
10this subsection and ss. 73.03 (35p) and 560.20, a claimant may claim as a credit
11against the tax imposed under s. 71.23, up to the amount of those taxes, any of the
12following amounts:
AB1177,12,1613 1. In each taxable year for 6 years, beginning with the taxable year in which
14the claimant's initial investment is made, 10 percent of the claimant's initial
15investment paid to a fund manager that the fund manager invests, as an early stage
16seed investment, in a business certified under s. 560.20 (2) (b).
AB1177,12,2017 2. In each taxable year for 4 years, beginning with the taxable year in which
18the claimants initial investment is made, 15 percent of the claimant's initial
19investment that the claimant invests, as an angel investment, in a business certified
20under s. 560.20 (2) (e).
AB1177,12,2421 3. In each taxable year for 6 years, beginning with the taxable year in which
22the claimant's initial investment is made, 7 percent of the claimant's initial
23investment paid to a fund manager that the fund manager invests, as a venture
24growth investment, in a business certified under s. 560.20 (2) (c).
AB1177,13,5
14. In each taxable year for 6 years, beginning with the taxable year in which
2the claimant's initial investment is made, 10 percent of the claimant's initial
3investment paid to a fund manager that the fund manager invests, as a women-,
4minority-, and community-based investment, in a business certified under s. 560.20
5(2) (d).
AB1177,13,116 (bm) Filing claims; broker-dealer and finder. For taxable years beginning on
7or after January 1, 2006, subject to the limitations provided under this subsection
8and s. 560.20, a claimant who is a broker-dealer or a finder may claim as a credit
9against the tax imposed under s. 71.23, up to the amount of those taxes, an amount
10equal to 10 percent of the first $500,000 raised in the taxable year in an offering of
11a business certified under s. 560.20 (2) (b).
AB1177,13,1412 (c) Limitations. 1. a. The maximum amount of the credits that may be claimed
13under par. (b) 1. and ss. 71.07 (2r) (b) 1. and 71.47 (2r) (b) 1. for all taxable years
14combined is $70,000,000.
AB1177,13,1715 b. The maximum amount of the credits that may be claimed under par. (b) 2.
16and ss. 71.07 (2r) (b) 2. and 71.47 (2r) (b) 2. for all taxable years combined is
17$25,000,000.
AB1177,13,2018 c. The maximum amount of the credits that may be claimed under par. (b) 3.
19and ss. 71.07 (2r) (b) 3. and 71.47 (2r) (b) 3. for all taxable years combined is
20$42,000,000.
AB1177,13,2321 d. The maximum amount of the credits that may be claimed under par. (b) 4.
22and ss. 71.07 (2r) (b) 4. and 71.47 (2r) (b) 4. for all taxable years combined is
23$10,000,000.
AB1177,13,2524 e. The maximum amount of the credit that may be claimed under par. (bm) and
25ss. 71.07 (2r) (bm) and 71.47 (2r) (bm) for all taxable years combined is $3,000,000.
AB1177,14,8
12. Partnerships, limited liability companies, and tax-option corporations may
2not claim the credit under par. (b), but the eligibility for, and the amount of, the credit
3are based on their payment of amounts under par. (b). A partnership, limited
4liability company, or tax-option corporation shall compute the amount of credit that
5each of its partners, members, or shareholders may claim and shall provide that
6information to each of them. Partners, members of limited liability companies, and
7shareholders of tax-option corporations may claim the credit in proportion to their
8ownership interest or as specially allocated in their organizational documents.
AB1177,14,109 (d) Administration. 1. Subsection (4) (e) to (h), as it applies to the credit under
10sub. (4), applies to the credit under this subsection.
AB1177,14,1411 2. A claimant may sell a credit under this subsection to another person who is
12subject to the taxes imposed under this subchapter, if the claimant notifies the
13department of the sale and includes with the notification a copy of the transfer
14documents.
AB1177, s. 14 15Section 14. 71.28 (2s) of the statutes is created to read:
AB1177,14,1816 71.28 (2s) Tribal gaming compact credit. (a) Definition. In this subsection,
17"claimant" means a Native American tribe that is located in this state, has entered
18into a gaming compact with this state, and files a claim under this subsection.
AB1177,14,2319 (b) Filing claims. Subject to the limitations provided in this subsection, for
20taxable years beginning after December 31, 2005, a claimant may claim as a credit
21against the tax imposed under s. 71.23, up to the amount of the taxes, an amount
22equal to the amount the claimant paid in the taxable year to the state pursuant to
23a gaming compact, not to exceed $10,000,000 in any taxable year.
AB1177,15,3
1(c) Limitations. 1. No credit may be allowed under this subsection unless the
2claimant, in the taxable year, invests in a business this is certified to receive
3investments under s. 560.20 (2).
AB1177,15,54 2. No credit may be allowed under this subsection unless the claimant submits
5with the claimant's return proof of the investment described under subd. 1.
AB1177,15,86 3. The maximum amount of the credit that may be awarded under this
7subsection and ss. 71.07 (2s) and 71.47 (2s) for all claimants in each taxable year may
8not exceed $100,000,000.
AB1177,15,169 4. Partnerships, limited liability companies, and tax-option corporations may
10not claim the credit under this subsection, but the eligibility for, and the amount of,
11the credit are based on their payment of amounts under par. (b). A partnership,
12limited liability company, or tax-option corporation shall compute the amount of
13credit that each of its partners, members, or shareholders may claim and shall
14provide that information to each of them. Partners, members of limited liability
15companies, and shareholders of tax-option corporations may claim the credit in
16proportion to their ownership interests.
AB1177,15,1817 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under
18sub. (4), applies to the credit under this subsection.
AB1177, s. 15 19Section 15. 71.30 (3) (eor) of the statutes is created to read:
AB1177,15,2020 71.30 (3) (eor) Venture capital investment credits under s. 71.28 (2r).
AB1177, s. 16 21Section 16. 71.30 (3) (eos) of the statutes is created to read:
AB1177,15,2222 71.30 (3) (eos) Tribal gaming compact credit under s. 71.28 (2s).
AB1177, s. 17 23Section 17. 71.34 (1) (g) of the statutes is amended to read:
AB1177,16,3
171.34 (1) (g) An addition shall be made for credits computed by a tax-option
2corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (2r),
3(2s),
(3), (3g), (3n), (3t), and (5b) and passed through to shareholders.
AB1177, s. 18 4Section 18. 71.45 (2) (a) 10. of the statutes is amended to read:
AB1177,16,105 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
6computed under s. 71.47 (1dd) to (1dx), (2r), (2s), (3n), and (5b) and not passed
7through by a partnership, limited liability company, or tax-option corporation that
8has added that amount to the partnership's, limited liability company's, or
9tax-option corporation's income under s. 71.21 (4) or 71.34 (1) (g) and the amount of
10credit computed under s. 71.47 (1), (3), (3t), (4), and (5).
AB1177, s. 19 11Section 19. 71.47 (2r) of the statutes is created to read:
AB1177,16,1312 71.47 (2r) Venture capital investment credits. (a) Definitions. In this
13subsection:
AB1177,16,1414 1. "Broker-dealer" has the meaning given in s. 551.02 (3).
AB1177,16,1515 2. "Claimant" means a person who files a claim under this subsection.
AB1177,16,1616 3. "Fund manager" has the meaning given in s. 560.20 (1) (e).
AB1177,16,2217 (b) Filing claims. For taxable years beginning on or after January 1, 2006, for
18amounts claimed under subd. 2., and beginning on or after January 1, 2007, for
19amounts claimed under subds. 1., 3., and 4., subject to the limitations provided under
20this subsection and ss. 73.03 (35p) and 560.20, a claimant may claim as a credit
21against the tax imposed under s. 71.43, up to the amount of those taxes, any of the
22following amounts:
AB1177,17,223 1. In each taxable year for 6 years, beginning with the taxable year in which
24the claimant's initial investment is made, 10 percent of the claimant's initial

1investment paid to a fund manager that the fund manager invests, as an early stage
2seed investment, in a business certified under s. 560.20 (2) (b).
AB1177,17,63 2. In each taxable year for 4 years, beginning with the taxable year in which
4the claimant's initial investment is made, 15 percent of the claimant's initial
5investment that the claimant invests, as an angel investment, in a business certified
6under s. 560.20 (2) (e).
AB1177,17,107 3. In each taxable year for 6 years, beginning with the taxable year in which
8the claimant's initial investment is made, 7 percent of the claimant's initial
9investment paid to a fund manager that the fund manager invests, as a venture
10growth investment, in a business certified under s. 560.20 (2) (c).
AB1177,17,1511 4. In each taxable year for 6 years, beginning with the taxable year in which
12the claimant's initial investment is made, 10 percent of the claimant's initial
13investment paid to a fund manager that the fund manager invests, as a women-,
14minority-, and community-based investment, in a business certified under s. 560.20
15(2) (d).
AB1177,17,2116 (bm) Filing claims; broker-dealer and finder. For taxable years beginning on
17or after January 1, 2006, subject to the limitations provided under this subsection
18and s. 560.20, a claimant who is a broker-dealer or a finder may claim as a credit
19against the tax imposed under s. 71.43, up to the amount of those taxes, an amount
20equal to 10 percent of the first $500,000 raised in the taxable year in an offering of
21a business certified under s. 560.20 (2) (b).
AB1177,17,2422 (c) Limitations. 1. a. The maximum amount of the credits that may be claimed
23under par. (b) 1. and ss. 71.07 (2r) (b) 1. and 71.28 (2r) (b) 1. for all taxable years
24combined is $70,000,000.
AB1177,18,3
1b. The maximum amount of the credits that may be claimed under par. (b) 2.
2and ss. 71.07 (2r) (b) 2. and 71.28 (2r) (b) 2. for all taxable years combined is
3$25,000,000.
AB1177,18,64 c. The maximum amount of the credits that may be claimed under par. (b) 3.
5and ss. 71.07 (2r) (b) 3. and 71.28 (2r) (b) 3. for all taxable years combined is
6$42,000,000.
AB1177,18,97 d. The maximum amount of the credits that may be claimed under par. (b) 4.
8and ss. 71.07 (2r) (b) 4. and 71.28 (2r) (b) 4. for all taxable years combined is
9$10,000,000.
AB1177,18,1110 e. The maximum amount of the credit that may be claimed under par. (bm) and
11ss. 71.07 (2r) (bm) and 71.28 (2r) (bm) for all taxable years combined is $3,000,000.
AB1177,18,1912 2. Partnerships, limited liability companies, and tax-option corporations may
13not claim the credit under par. (b), but the eligibility for, and the amount of, the credit
14are based on their payment of amounts under par. (b). A partnership, limited
15liability company, or tax-option corporation shall compute the amount of credit that
16each of its partners, members, or shareholders may claim and shall provide that
17information to each of them. Partners, members of limited liability companies, and
18shareholders of tax-option corporations may claim the credit in proportion to their
19ownership interest or as specially allocated in their organizational documents.
AB1177,18,2120 (d) Administration. 1. Section 71.28 (4) (e) to (h), as it applies to the credit
21under s. 71.28 (4), applies to the credit under this subsection.
AB1177,18,2522 2. A claimant may sell a credit under this subsection to another person who is
23subject to the taxes imposed under this subchapter, if the claimant notifies the
24department of the sale and includes with the notification a copy of the transfer
25documents.
AB1177, s. 20
1Section 20. 71.47 (2s) of the statutes is created to read:
AB1177,19,42 71.47 (2s) Tribal gaming compact credit. (a) Definition. In this subsection,
3"claimant" means a Native American tribe that is located in this state, has entered
4into a gaming compact with this state, and files a claim under this subsection.
AB1177,19,95 (b) Filing claims. Subject to the limitations provided in this subsection, for
6taxable years beginning after December 31, 2005, a claimant may claim as a credit
7against the tax imposed under s. 71.43, up to the amount of the taxes, an amount
8equal to the amount the claimant paid in the taxable year to the state pursuant to
9a gaming compact, not to exceed $10,000,000 in any taxable year.
AB1177,19,1210 (c) Limitations. 1. No credit may be allowed under this subsection unless the
11claimant, in the taxable year, invests in a business this is certified to receive
12investments under s. 560.20 (2).
AB1177,19,1413 2. No credit may be allowed under this subsection unless the claimant submits
14with the claimant's return proof of the investment described under subd. 1.
AB1177,19,1715 3. The maximum amount of the credit that may be awarded under this
16subsection and ss. 71.07 (2s) and 71.28 (2s) for all claimants in each taxable year may
17not exceed $100,000,000.
AB1177,19,2518 4. Partnerships, limited liability companies, and tax-option corporations may
19not claim the credit under this subsection, but the eligibility for, and the amount of,
20the credit are based on their payment of amounts under par. (b). A partnership,
21limited liability company, or tax-option corporation shall compute the amount of
22credit that each of its partners, members, or shareholders may claim and shall
23provide that information to each of them. Partners, members of limited liability
24companies, and shareholders of tax-option corporations may claim the credit in
25proportion to their ownership interests.
AB1177,20,2
1(d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
2s. 71.28 (4), applies to the credit under this subsection.
AB1177, s. 21 3Section 21. 71.49 (1) (eor) of the statutes is created to read:
AB1177,20,44 71.49 (1) (eor) Venture capital investment credits under s. 71.47 (2r).
AB1177, s. 22 5Section 22. 71.49 (1) (eos) of the statutes is created to read:
AB1177,20,66 71.49 (1) (eos) Tribal gaming compact credit under s. 71.47 (2s).
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