SB184: Bill Text

SB184,3,12 71.07 (2dm) (h) The For taxable years beginning before January 1, 2006, the carry-over provisions of s. 71.28 (4) (e) and (f) as they relate to the credit under s. 71.28 (4) relate to the credit under this subsection.

SB184, s. 6 Section 6. 71.07 (2dx) (dm) of the statutes is created to read:

SB184,3,20 71.07 (2dx) (dm) Refunds. For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (dz).

SB184, s. 7 Section 7. 71.07 (2dx) (e) of the statutes is amended to read:

SB184,4,4 71.07 (2dx) (e) Administration. Section 71.28 (4) (e) to (g) and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. For taxable years beginning before January 1, 2006, s. 71.28 (4) (e) and (f), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. Subsection (2dj) (c), as it applies to the credit under sub. (2dj), applies to the credit under this subsection. Claimants shall include with their returns a copy of their certification for tax benefits and a copy of the department of commerce's verification of their expenses.

SB184, s. 8 Section 8. 71.07 (3g) (bm) of the statutes is created to read:

SB184,4,12 71.07 (3g) (bm) For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (dz).

SB184, s. 9 Section 9. 71.07 (3g) (c) of the statutes is amended to read:

SB184,4,17 71.07 (3g) (c) Section 71.28 (4) (e), (f), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under par. (a). For taxable years beginning before January 1, 2006, s. 71.28 (4) (e) and (f), as it applies to the credit under s. 71.28 (4), applies to the credit under par. (a).

SB184, s. 10 Section 10. 71.10 (3) (ac) of the statutes is repealed.

SB184, s. 11 Section 11. 71.10 (4) (gg) of the statutes is repealed.

SB184, s. 12 Section 12. 71.10 (4) (grb) of the statutes is repealed.

SB184, s. 13 Section 13. 71.10 (4) (grd) of the statutes is repealed.

SB184, s. 14 Section 14. 71.10 (4) (gu) of the statutes is repealed.

SB184, s. 15 Section 15. 71.10 (4) (i) of the statutes is amended to read:

SB184,5,6 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, development zones investment credit under s. 71.07 (2di), development zone capital investment credit under s. 71.07 (2dm), development zones credit under s. 71.07 (2dx), technology zones credit under s. 71.07 (3g), farmland tax relief credit under s. 71.07 (3m), farmers' drought property tax credit under s. 71.07 (2fd), earned income tax credit under s. 71.07 (9e), estimated tax payments under s. 71.09, and taxes withheld under subch. X.

SB184, s. 16 Section 16. 71.28 (1di) (c) of the statutes is amended to read:

SB184,5,11 71.28 (1di) (c) Except as provided in par. (b) 2., the for taxable years beginning before January 1, 2006, the carry-over provisions of sub. (4) (e) and (f) as they relate to the credit under that subsection relate to the credit under this subsection and apply as if the development zone continued to exist.

SB184, s. 17 Section 17. 71.28 (1di) (gm) of the statutes is created to read:

SB184,5,19 71.28 (1di) (gm) For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (dz).

SB184, s. 18 Section 18. 71.28 (1dm) (gm) of the statutes is created to read:

SB184,6,2 71.28 (1dm) (gm) For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (dz).

SB184, s. 19 Section 19. 71.28 (1dm) (h) of the statutes is amended to read:

SB184,6,6 71.28 (1dm) (h) The For taxable years beginning before January 1, 2006, the carry-over provisions of sub. (4) (e) and (f) as they relate to the credit under sub. (4) relate to the credit under this subsection.

SB184, s. 20 Section 20. 71.28 (1dx) (dm) of the statutes is created to read:

SB184,6,14 71.28 (1dx) (dm) Refunds. For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (dz).

SB184, s. 21 Section 21. 71.28 (1dx) (e) of the statutes is amended to read:

SB184,6,22 71.28 (1dx) (e) Administration. Subsection (4) (e) to (g) and (h), as it applies to the credit under sub. (4), applies to the credit under this subsection. For taxable years beginning after January 1, 2006, sub. (4) (e) and (f), as it applies to the credit under sub. (4), applies to the credit under this subsection. Subsection (1dj) (c), as it applies to the credit under sub. (1dj), applies to the credit under this subsection. Claimants shall include with their returns a copy of their certification for tax benefits and a copy of the department of commerce's verification of their expenses.

SB184, s. 22 Section 22. 71.28 (3g) (bm) of the statutes is created to read:

SB184,7,5 71.28 (3g) (bm) For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (dz).

SB184, s. 23 Section 23. 71.28 (3g) (c) of the statutes is amended to read:

SB184,7,10 71.28 (3g) (c) Subsection (4) (e), (f), (g), and (h), as it applies to the credit under sub. (4), applies to the credit under par. (a). For taxable years beginning before January 1, 2006, sub. (4) (e) and (f), as it applies to the credit under sub. (4), applies to the credit under par. (a).

SB184, s. 24 Section 24. 71.30 (3) (eg) of the statutes is repealed.

SB184, s. 25 Section 25. 71.30 (3) (emb) of the statutes is repealed.

SB184, s. 26 Section 26. 71.30 (3) (eom) of the statutes is repealed.

SB184, s. 27 Section 27. 71.30 (3) (eon) of the statutes is repealed.

SB184, s. 28 Section 28. 71.30 (3) (f) of the statutes is amended to read:

SB184,7,21 71.30 (3) (f) The total of development zones investment credit under s. 71.28 (1di), development zone capital investment credit under s. 71.28 (1dm), development zones credit under s. 71.28 (1dx), 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), technology zones credit under s. 71.28 (3g), and estimated tax payments under s. 71.29.

SB184, s. 29 Section 29. 71.47 (1di) (c) of the statutes is amended to read:

SB184,8,2 71.47 (1di) (c) Except as provided in par. (b) 2., the for taxable years beginning before January 1, 2006, the carry-over provisions of sub. (4) (e) and (f) as they relate to the credit under that subsection relate to the credit under this subsection and apply as if the development zone continued to exist.

SB184, s. 30 Section 30. 71.47 (1di) (gm) of the statutes is created to read:

SB184,8,10 71.47 (1di) (gm) For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (dz).

SB184, s. 31 Section 31. 71.47 (1dm) (gm) of the statutes is created to read:

SB184,8,18 71.47 (1dm) (gm) For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (dz).

SB184, s. 32 Section 32. 71.47 (1dm) (h) of the statutes is amended to read:

SB184,8,22 71.47 (1dm) (h) The For taxable years beginning before January 1, 2006, the carry-over provisions of s. 71.28 (4) (e) and (f) as they relate to the credit under s. 71.28 (4) relate to the credit under this subsection.

SB184, s. 33 Section 33. 71.47 (1dx) (dm) of the statutes is created to read:

SB184,9,5 71.47 (1dx) (dm) Refunds. For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (dz).

SB184, s. 34 Section 34. 71.47 (1dx) (e) of the statutes is amended to read:

SB184,9,14 71.47 (1dx) (e) Administration. Section 71.28 (4) (e) to (g) and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. For taxable years beginning before January 1, 2006, s. 71.28 (4) (e) and (f), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. Subsection (1dj) (c), as it applies to the credit under sub. (1dj), applies to the credit under this subsection. Claimants shall include with their returns a copy of their certification for tax benefits and a copy of the department of commerce's verification of their expenses.

SB184, s. 35 Section 35. 71.47 (3g) (bm) of the statutes is created to read:

SB184,9,22 71.47 (3g) (bm) For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (dz).

SB184, s. 36 Section 36. 71.47 (3g) (c) of the statutes is amended to read:

SB184,9,25 71.47 (3g) (c) Section 71.28 (4) (e), (f), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under par. (a). For taxable years beginning before January 1, 2006, s. 71.28 (4) (e) and (f), as it applies to the credit under s. 71.28 (4), applies to the credit under par. (a).

SB184, s. 37 Section 37. 71.49 (1) (eg) of the statutes is repealed.

SB184, s. 38 Section 38. 71.49 (1) (emb) of the statutes is repealed.

SB184, s. 39 Section 39. 71.49 (1) (eom) of the statutes is repealed.

SB184, s. 40 Section 40. 71.49 (1) (eon) of the statutes is repealed.

SB184, s. 41 Section 41. 71.49 (1) (f) of the statutes is amended to read:

SB184,10,13 71.49 (1) (f) The total of development zones investment credit under s. 71.47 (1di), development zone capital investment credit under s. 71.47 (1dm), development zones credit under s. 71.47 (1dx), 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), technology zones credit under s. 71.47 (3g), and estimated tax payments under s. 71.48.

SB184, s. 42 Section 42. Initial applicability.

SB184,10,15 (1) This act first applies to taxable years beginning on January 1, 2006.

SB184,10,16 (End)