SB602,4,129 (c) The amount determined by multiplying the amount determined under s.
10560.785 (1) (c) by the number of full-time jobs created in a development zone and not
11filled by a member of a targeted group and by then subtracting the subsidies paid
12under s. 49.147 (3) (a) for those jobs.
SB602,4,1813 (d) The amount determined by multiplying the amount determined under s.
14560.785 (1) (bm) by the number of full-time jobs retained, as provided in the rules
15under s. 560.785, excluding jobs for which a credit has been claimed under s. 71.47
16(1dj), in an enterprise development zone under s. 560.797 and for which significant
17capital investment was made and by then subtracting the subsidies paid under s.
1849.147 (3) (a) for those jobs.
SB602,4,2319 (e) The amount determined by multiplying the amount determined under s.
20560.785 (1) (c) by the number of full-time jobs retained, as provided in the rules
21under s. 560.785, excluding jobs for which a credit has been claimed under s. 71.47
22(1dj), in a development zone and not filled by a member of a targeted group and by
23then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.
SB602,5,4 24(3) Carry-forward. If the credit under sub. (2) is not entirely offset against the
25fees under s. 76.60, 76.63, 76.65, 76.66, or 76.67 otherwise due, the unused balance

1may be carried forward and credited against those fees for the following 15 years to
2the extent that it is not offset by those fees otherwise due in all the years between
3the year in which the expense was made and the year in which the carry-forward
4credit is claimed.
SB602,5,14 5(4) Credit precluded. If the certification of a person for tax benefits under s.
6560.765 (3), 560.797 (4), or 560.798 (3) is revoked, or if the person becomes ineligible
7for tax benefits under s. 560.795 (3), that person may not claim credits under this
8section for the taxable year that includes the day on which the certification is
9revoked; the taxable year that includes the day on which the person becomes
10ineligible for tax benefits; or succeeding taxable years and that person may not carry
11over unused credits from previous years to offset the fees under s. 76.60, 76.63, 76.65,
1276.66, or 76.67 for the taxable year that includes the day on which certification is
13revoked; the taxable year that includes the day on which the person becomes
14ineligible for tax benefits; or succeeding taxable years.
SB602,5,20 15(5) Carry-over precluded. If a person who is entitled under s. 560.795 (3) to
16claim tax benefits or certified under s. 560.765 (3), 560.797 (4), or 560.798 (3) for tax
17benefits ceases business operations in the development zone during any of the
18taxable years that that zone exists, that person may not carry over to any taxable
19year following the year during which operations cease any unused credits from the
20taxable year during which operations cease or from previous taxable years.
SB602,5,24 21(6) Administration. Any insurer who claims a credit under sub. (2) shall
22include with the insurer's annual return under s. 76.64 a copy of its certification for
23tax benefits and a copy of its verification of expenses from the department of
24commerce.
SB602, s. 4
1Section 4. 76.67 (2) of the statutes, as affected by 2005 Wisconsin Act 74, is
2amended to read:
SB602,6,123 76.67 (2) If any domestic insurer is licensed to transact insurance business in
4another state, this state may not require similar insurers domiciled in that other
5state to pay taxes greater in the aggregate than the aggregate amount of taxes that
6a domestic insurer is required to pay to that other state for the same year less the
7credits under ss. 76.635, 76.636, and 76.655, except that the amount imposed shall
8not be less than the total of the amounts due under ss. 76.65 (2) and 601.93 and, if
9the insurer is subject to s. 76.60, 0.375% of its gross premiums, as calculated under
10s. 76.62, less offsets allowed under s. 646.51 (7) or under ss. 76.635 , 76.636, and
1176.655 against that total, and except that the amount imposed shall not be less than
12the amount due under s. 601.93.
SB602, s. 5 13Section 5. 560.075 (1) of the statutes, as created by 2005 Wisconsin Act 25, is
14amended to read:
SB602,6,1815 560.075 (1) In this section, "tax benefits" means the credits under ss. 71.07
16(2dd), (2de), (2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (3g), and (3t), 71.28 (1dd),
17(1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (3g), and (3t), and 71.47 (1dd), (1de), (1di),
18(1dj), (1dL), (1dm), (1ds), (1dx), (3g), and (3t), and 76.636.
SB602, s. 6 19Section 6. 560.70 (7) (a) of the statutes is amended to read:
SB602,6,2220 560.70 (7) (a) Except as provided in pars. (b) and (c), "tax benefits" means the
21development zones credit under ss. 71.07 (2dx), 71.28 (1dx), and 71.47 (1dx), and
2276.636
.
SB602, s. 7 23Section 7. 560.70 (7) (b) of the statutes is amended to read:
SB602,7,424 560.70 (7) (b) In s. 560.795, "tax benefits" means the development zones
25investment credit under ss. 71.07 (2di), 71.28 (1di), and 71.47 (1di) and the

1development zones credit under ss. 71.07 (2dx), 71.28 (1dx), and 71.47 (1dx), and
276.636
. With respect to the development opportunity zones under s. 560.795 (1) (e)
3and (f), "tax benefits" also means the development zones capital investment credit
4under ss. 71.07 (2dm), 71.28 (1dm), and 71.47 (1dm).
SB602, s. 8 5Section 8. 560.70 (7) (c) of the statutes is amended to read:
SB602,7,96 560.70 (7) (c) In s. 560.798, "tax benefits" means the development zones capital
7investment credit under ss. 71.07 (2dm), 71.28 (1dm), and 71.47 (1dm) and the
8development zones credits under ss. 71.07 (2dx), 71.28 (1dx), and 71.47 (1dx), and
976.636
.
SB602, s. 9 10Section 9. 560.75 (8) of the statutes is amended to read:
SB602,7,1211 560.75 (8) Annually verify information submitted to the department under s.
1271.07 (2dx), 71.28 (1dx) or, 71.47 (1dx) , or 76.636.
SB602, s. 10 13Section 10. 560.785 (1) (d) of the statutes is amended to read:
SB602,7,1714 560.785 (1) (d) Except for a person claiming tax benefits only for environmental
15remediation under s. 71.07 (2dx) (b) 1., 71.28 (1dx) (b) 1. or, 71.47 (1dx) (b) 1., or
1676.636
, require at least 25% of the tax benefits claimed by a person to be based on
17creating or retaining full-time jobs.
SB602, s. 11 18Section 11. 560.785 (1) (h) of the statutes is amended to read:
SB602,7,2119 560.785 (1) (h) Provide that a person's eligibility to claim tax benefits for
20environmental remediation under s. 71.07 (2dx) (b) 1., 71.28 (1dx) (b) 1. or, 71.47
21(1dx) (b) 1., or 76.636 is not based on creating or retaining jobs.
SB602, s. 12 22Section 12. 560.795 (3) (d) of the statutes is amended to read:
SB602,7,2523 560.795 (3) (d) The department annually shall verify information submitted
24to the department under s. 71.07 (2di), (2dm), or (2dx), 71.28 (1di), (1dm), or (1dx),
25or 71.47 (1di), (1dm), or (1dx), or 76.636.
SB602, s. 13
1Section 13. 560.797 (4) (d) of the statutes is amended to read:
SB602,8,52 560.797 (4) (d) The department shall notify the department of revenue of all
3persons entitled to claim tax benefits under this section, except that the department
4shall notify the office of the commissioner of insurance of all persons entitled to claim
5the credit under s. 76.636
.
SB602, s. 14 6Section 14. 560.797 (4) (g) of the statutes is amended to read:
SB602,8,87 560.797 (4) (g) The department annually shall verify information submitted
8to the department under s. 71.07 (2dx), 71.28 (1dx) or , 71.47 (1dx), or 76.636.
SB602, s. 15 9Section 15. 560.798 (4) (b) of the statutes is amended to read:
SB602,8,1210 560.798 (4) (b) The department shall annually verify information submitted
11to the department under s. 71.07 (2dm) or (2dx), 71.28 (1dm) or (1dx), or 71.47 (1dm)
12or (1dx), or 76.636.
SB602, s. 16 13Section 16. Initial applicability.
SB602,8,1714 (1) This act first applies to taxable years beginning on January 1 of the year
15in which this subsection takes effect, except that if this subsection takes effect after
16July 31 this act first applies to taxable years beginning on January 1 of the year
17following the year in which this subsection takes effect.
SB602,8,1818 (End)
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