OC7 SB1: Bill Text

SB1,883,5 71.07 (3w) (d) Administration. Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4), 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 verification of their expenses, from the department of commerce.

SB1, s. 1976s Section 1976s. 71.07 (5) (a) 15. of the statutes is amended to read:

SB1,883,12 71.07 (5) (a) 15. The amount claimed as a deduction for medical care insurance under section 213 of the Internal Revenue Code that is exempt from taxation under s. 71.05 (6) (b) 17. to 20., 35., 36., 37., and 38. , 39., 40., 41., and 42. and the amount claimed as a deduction for a long-term care insurance policy under section 213 (d) (1) (D) of the Internal Revenue Code, as defined in section 7702B (b) of the Internal Revenue Code that is exempt from taxation under s. 71.05 (6) (b) 26.

SB1, s. 1977 Section 1977. 71.07 (5b) (c) 1. of the statutes is amended to read:

SB1,883,16 71.07 (5b) (c) 1. The Except as provided in s. 73.03 (63), the maximum amount of the credits that may be claimed under this subsection and ss. 71.28 (5b) and 71.47 (5b) for all taxable years combined is $35,000,000 $52,500,000.

SB1, s. 1978 Section 1978. 71.07 (5b) (d) of the statutes is renumbered 71.07 (5b) (d) 1.

SB1, s. 1979 Section 1979. 71.07 (5b) (d) 2. of the statutes is created to read:

SB1,883,24 71.07 (5b) (d) 2. The Wisconsin adjusted basis of any investment for which a credit is claimed under par. (b) shall be reduced by the amount of the credit that is offset against Wisconsin income taxes. The Wisconsin basis of a partner's interest in a partnership, a member's interest in a limited liability company, or stock in a tax-option corporation shall be adjusted to reflect adjustments made under this subdivision.

SB1, s. 1980 Section 1980. 71.07 (5d) (c) 1. of the statutes is amended to read:

SB1,884,3 71.07 (5d) (c) 1. The Except as provided in s. 73.03 (63), the maximum amount of the credits that may be claimed under this subsection for all taxable years combined is $30,000,000 $47,500,000.

SB1, s. 1981 Section 1981. 71.07 (5d) (c) 2. of the statutes is amended to read:

SB1,884,7 71.07 (5d) (c) 2. The maximum amount of a claimant's investment that may be used as the basis for a credit under this subsection is $500,000 $2,000,000 for each investment made directly in a business certified under s. 560.205 (1).

SB1, s. 1982 Section 1982. 71.07 (5d) (d) 4. of the statutes is created to read:

SB1,884,11 71.07 (5d) (d) 4. The Wisconsin adjusted basis of any investment for which a credit is claimed under par. (b) shall be reduced by the amount of the credit that is offset against Wisconsin income taxes.

SB1, s. 1983 Section 1983. 71.07 (5e) (b) of the statutes is amended to read:

SB1,884,20 71.07 (5e) (b) Filing claims. Subject to the limitations provided in this subsection and subject to 2005 Wisconsin Act 479, section 17, beginning in the first taxable year following the taxable year in which the claimant claims an exemption a deduction under s. 77.54 (48) 77.585 (9), a claimant may claim as a credit against the taxes imposed under ss. 71.02 and 71.08, up to the amount of those taxes, in each taxable year for 2 years, the amount certified by the department of commerce that resulted from the claimant claimed as an exemption claiming a deduction under s. 77.54 (48) 77.585 (9).

SB1, s. 1984 Section 1984. 71.07 (5e) (c) 1. of the statutes is amended to read:

SB1,884,23 71.07 (5e) (c) 1. No credit may be allowed under this subsection unless the claimant satisfies the requirements under s. 77.54 (48) 77.585 (9).

SB1, s. 1985 Section 1985. 71.07 (5e) (c) 3. of the statutes is amended to read:

SB1,885,4 71.07 (5e) (c) 3. The total amount of the credits and exemptions the sales and use tax resulting from the deductions claimed under s. 77.585 (9) that may be claimed by all claimants under this subsection and ss. 71.28 (5e), 71.47 (5e), and 77.54 (48) 77.585 (9) is $7,500,000, as determined by the department of commerce.

SB1, s. 1986 Section 1986. 71.07 (5h) (a) 4. of the statutes is amended to read:

SB1,885,13 71.07 (5h) (a) 4. "Previously owned property" means real property that the claimant or a related person owned during the 2 years prior to doing business in this state as a film production company and for which the claimant may not deduct a loss from the sale of the property to, or an exchange of the property with, the related person under section 267 of the Internal Revenue Code, except that section 267 of the Internal Revenue Code is modified so that if the claimant owns any part of the property, rather than 50 percent ownership, the claimant is subject to section 267 of the Internal Revenue Code for purposes of this subsection.

SB1, s. 1987 Section 1987. 71.07 (5h) (c) 2. of the statutes is amended to read:

SB1,885,19 71.07 (5h) (c) 2. A claimant may claim the credit under par. (b) 2. for an amount expended to construct, rehabilitate, remodel, or repair real property, if the claimant began the physical work of construction, rehabilitation, remodeling, or repair, or any demolition or destruction in preparation for the physical work, after December 31, 2007, or if and the completed project is placed in service after December 31, 2007.

SB1, s. 1988 Section 1988. 71.07 (5h) (c) 3. of the statutes is amended to read:

SB1,885,24 71.07 (5h) (c) 3. A claimant may claim the credit under par. (b) 2. for an amount expended to acquire real property, if the property is not previously owned property and if the claimant acquires the property after December 31, 2007, or if and the completed project is placed in service after December 31, 2007.

SB1, s. 1989 Section 1989. 71.07 (5i) of the statutes is created to read:

SB1,886,2 71.07 (5i) Electronic medical records credit. (a) Definitions. In this subsection, "claimant" means a person who files a claim under this subsection.

SB1,886,9 (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2009, a claimant may claim as a credit against the taxes imposed under s. 71.02, up to the amount of those taxes, an amount equal to 50 percent of the amount the claimant paid in the taxable year for information technology hardware or software that is used to maintain medical records in electronic form, if the claimant is a health care provider, as defined in s. 146.81 (1).

SB1,886,12 (c) Limitations. 1. The maximum amount of the credits that may be claimed under this subsection and ss. 71.28 (5i) and 71.47 (5i) in a taxable year is $10,000,000, as allocated under s. 560.204.

SB1,886,20 2. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts under par. (b). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.

SB1,886,22 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

SB1, s. 1990 Section 1990. 71.07 (5j) of the statutes is created to read:

SB1,886,25 71.07 (5j) Ethanol and biodiesel fuel pump credit. (a) Definitions. In this subsection:

SB1,887,1 1. "Biodiesel fuel" has the meaning given in s. 168.14 (2m) (a).

SB1,887,2 2. "Claimant" means a person who files a claim under this subsection.

SB1,887,3 3. "Motor vehicle fuel" has the meaning given in s. 78.005 (13).

SB1,887,10 (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2007, and before January 1, 2018, a claimant may claim as a credit against the taxes imposed under s. 71.02, up to the amount of the taxes, an amount that is equal to 25 percent of the amount that the claimant paid in the taxable year to install or retrofit pumps located in this state that dispense motor vehicle fuel consisting of at least 85 percent ethanol or at least 20 percent biodiesel fuel.

SB1,887,14 (c) Limitations. 1. The maximum amount of the credit that a claimant may claim under this subsection in a taxable year is an amount that is equal to $5,000 for each service station for which the claimant has installed or retrofitted pumps as described under par. (b).

SB1,887,22 2. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts under par. (b). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.

SB1,887,24 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

SB1, s. 1990m Section 1990m. 71.07 (5k) of the statutes is created to read:

SB1,888,2 71.07 (5k) Community rehabilitation program credit. (a) Definitions. In this subsection:

SB1,888,3 1. "Claimant" means a person who files a claim under this subsection.

SB1,888,8 2. "Community rehabilitation program" means a nonprofit entity, county, municipality, or state or federal agency that directly provides, or facilitates the provision of, vocational rehabilitation services to individuals who have disabilities to maximize the employment opportunities, including career advancement, of such individuals.

SB1,888,10 3. "Vocational rehabilitation services" include education, training, employment, counseling, therapy, placement, and case management.

SB1,888,13 4. "Work" includes production, packaging, assembly, food service, custodial service, clerical service, and other commercial activities that improve employment opportunities for individuals who have disabilities.

SB1,888,19 (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after July 1, 2009, 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 5 percent of the amount the claimant paid in the taxable year to a community rehabilitation program to perform work for the claimant's business, pursuant to a contract.

SB1,888,23 (c) Limitations. 1. The maximum amount of the credit that any claimant may claim under this subsection in a taxable year is $25,000 for each community rehabilitation program for which the claimant enters into a contract to have the community rehabilitation program perform work for the claimant's business.

SB1,889,3 2. No credit may be claimed under this subsection unless the claimant submits with the claimant's return a form, as prescribed by the department of revenue, that verifies that the claimant has entered into a contract with a community rehabilitation program and that the program has received payment from the claimant for work provided by the program, consistent with par. (b).

SB1,889,11 3. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts under par. (b). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.

SB1,889,13 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

SB1, s. 1990s Section 1990s. 71.07 (6e) (a) 2. a. of the statutes is amended to read:

SB1,889,19 71.07 (6e) (a) 2. a. An individual who had served on active duty in the U.S. armed forces or in forces incorporated as part of the U.S. armed forces ,; who was a resident of this state at the time of entry into that active service , or who had been a resident of this state for any consecutive 5-year period after entry into that active duty service; and who, while a resident of this state, died while on active duty.

SB1, s. 1990sc Section 1990sc. 71.07 (6e) (a) 2. b. of the statutes is amended to read:

SB1,890,5 71.07 (6e) (a) 2. b. An individual who had served on active duty under honorable conditions in the U.S. armed forces or in forces incorporated as part of the U.S. armed forces; who was a resident of this state at the time of entry into that active service; who was at least 65 years of age at the time of his or her death or would have been 65 years of age at the close of the year in which the death occurred or who had been a resident of this state for any consecutive 5-year period after entry into that active duty service; who was a resident of this state at the time of his or her death; and who had either a service-connected disability rating of 100 percent under 38 USC 1114 or 1134 or a 100 percent disability rating based on individual unemployability.

SB1, s. 1990se Section 1990se. 71.07 (6e) (a) 2. c. of the statutes is amended to read:

SB1,890,12 71.07 (6e) (a) 2. c. An individual who had served in the national guard or a reserve component of the U.S. armed forces,; who was a resident of this state at the time of entry into that service, or who had been a resident of this state for any consecutive 5-year period after entry into that service; and who, while a resident of this state, died in the line of duty while on active or inactive duty for training purposes.

SB1, s. 1990sg Section 1990sg. 71.07 (6e) (a) 3. (intro.) of the statutes is amended to read:

SB1,890,16 71.07 (6e) (a) 3. (intro.) "Eligible veteran" means an individual who is at least 65 years of age and who is verified by the department of veterans affairs as meeting all of the following conditions:

SB1, s. 1990si Section 1990si. 71.07 (6e) (a) 3. b. of the statutes is amended to read:

SB1,890,20 71.07 (6e) (a) 3. b. Was a resident of this state at the time of entry into that active service or had been a resident of this state for any consecutive 5-year period after entry into that service.

SB1, s. 1990sk Section 1990sk. 71.07 (6e) (a) 3. d. of the statutes is amended to read:

SB1,890,24 71.07 (6e) (a) 3. d. Has either a service-connected disability rating of 100 percent under 38 USC 1114 or 1134 or a 100 percent disability rating based on individual unemployability.

SB1, s. 1990sm Section 1990sm. 71.07 (6e) (a) 3e. of the statutes is created to read:

SB1,891,8 71.07 (6e) (a) 3e. "Individual unemployability" means a condition under which a veteran has a service-connected disability rating of either 60 percent under 38 USC 1114 or 1134 or two or more service-connected disability conditions where one condition has at least a 40 percent scheduler rating and the combined scheduler rating for all conditions is at least 70 percent, and has an administrative adjustment added to his or her service-connected disability, due to individual unemployability, such that the federal Department of Veterans Affairs rates the veteran 100 percent disabled.

SB1, s. 1991 Section 1991. 71.08 (1) (intro.) of the statutes is amended to read:

SB1,891,19 71.08 (1) Imposition. (intro.) If the tax imposed on a natural person, married couple filing jointly, trust, or estate under s. 71.02, not considering the credits under ss. 71.07 (1), (2dd), (2de), (2di), (2dj), (2dL), (2dr), (2ds), (2dx), (2fd), (3c), (3e), (3m), (3n), (3p), (3s), (3t), (3w), (5b), (5d), (5e), (6), (6e), and (9e), 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx), (1fd), (2m), (3), (3n), (3t), and (3w), and 71.47 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx), (1fd), (2m), (3), (3n), (3t), and (3w), and subchs. VIII and IX and payments to other states under s. 71.07 (7), is less than the tax under this section, there is imposed on that natural person, married couple filing jointly, trust or estate, instead of the tax under s. 71.02, an alternative minimum tax computed as follows:

SB1, s. 1991h Section 1991h. 71.10 (4) (cn) of the statutes is created to read:

SB1,891,21 71.10 (4) (cn) Biodiesel fuel production credit under s. 71.07 (3h).

SB1, s. 1992m Section 1992m. 71.10 (4) (es) of the statutes is created to read:

SB1,891,23 71.10 (4) (es) Community rehabilitation program credit under s. 71.07 (5k).

SB1, s. 1993 Section 1993. 71.10 (4) (gc) of the statutes is created to read:

SB1,891,25 71.10 (4) (gc) Ethanol and biodiesel fuel pump credit under s. 71.07 (5j).

SB1, s. 1994 Section 1994. 71.10 (4) (gxx) of the statutes is created to read:

SB1,892,2 71.10 (4) (gxx) Electronic medical records credit under s. 71.07 (5i).

SB1, s. 1994h Section 1994h. 71.10 (4) (i) of the statutes is amended to read:

SB1,892,11 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, farmland tax relief credit under s. 71.07 (3m), farmers' drought property tax credit under s. 71.07 (2fd), dairy manufacturing facility investment credit under s. 71.07 (3p), film production services credit under s. 71.07 (5f) (b) 2., veterans and surviving spouses property tax credit under s. 71.07 (6e), enterprise zone jobs credit under s. 71.07 (3w), earned income tax credit under s. 71.07 (9e), estimated tax payments under s. 71.09, and taxes withheld under subch. X.

SB1, s. 1995 Section 1995. 71.10 (5) (g) of the statutes is amended to read:

SB1,892,17 71.10 (5) (g) Tax return. The secretary of revenue shall provide a place for the designations under this subsection on the individual income tax return and, on forms printed by the department of revenue, the secretary shall highlight that place on the return by a symbol chosen by the department of revenue that relates to endangered resources.

SB1, s. 1996 Section 1996. 71.10 (5e) (g) of the statutes is amended to read:

SB1,892,23 71.10 (5e) (g) Tax return. The secretary of revenue shall provide a place for the designations under this subsection on the individual income tax return, and, on forms printed by the department of revenue, the secretary shall highlight that place on the return by a symbol chosen by the department that relates to a football stadium, as defined in s. 229.821 (6).

SB1, s. 1997 Section 1997. 71.21 (4) of the statutes is amended to read:

SB1,893,4 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2ds), (2dx), (3g), (3h), (3n), (3p), (3s), (3t), (3w), (5b), (5e), (5f), (5g), and (5h), (5i), (5j), and (5k) and passed through to partners shall be added to the partnership's income.

SB1, s. 1998 Section 1998. 71.22 (4) (L) of the statutes is repealed.

SB1, s. 1999 Section 1999. 71.22 (4) (m) of the statutes is repealed.

SB1, s. 2000 Section 2000. 71.22 (4) (n) of the statutes is amended to read:

SB1,895,15 71.22 (4) (n) Except as provided in sub. (4m) and ss. 71.26 (2) (b) and (3), 71.34 (1g) and 71.42 (2), "Internal Revenue Code", for taxable years that begin after December 31, 1998, and before January 1, 2000, means the federal Internal Revenue Code as amended to December 31, 1998, excluding sections 103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, and as amended by P.L. 106-36, P.L. 106-170, P.L. 106-230, P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, P.L. 107-16, excluding section 431 of P.L. 107-16, P.L. 107-134, P.L. 107-147, excluding sections 101, 301 (a), and 406 of P.L. 107-147, P.L. 107-181, P.L. 107-276, P.L. 108-121, excluding section 109 of P.L. 108-121, P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of P.L. 108-311, and P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L. 108-357, P.L. 109-7, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, and as indirectly affected in the provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36, P.L. 106-170, P.L. 106-230, P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, P.L. 107-16, excluding section 431 of P.L. 107-16, P.L. 107-134, P.L. 107-147, excluding sections 101, 301 (a), and 406 of P.L. 107-147, P.L. 107-181, P.L. 107-276, P.L. 108-121, excluding section 109 of P.L. 108-121, P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of P.L. 108-311, and P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L. 108-357, P.L. 109-7, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280. The Internal Revenue Code applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the federal Internal Revenue Code enacted after December 31, 1998, do not apply to this paragraph with respect to taxable years beginning after December 31, 1998, and before January 1, 2000, except that changes to the Internal Revenue Code made by P.L. 106-36, P.L. 106-170, P.L. 106-230, P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, P.L. 107-16, excluding section 431 of P.L. 107-16, P.L. 107-134, P.L. 107-147, excluding sections 101, 301 (a), and 406 of P.L. 107-147, P.L. 107-181, P.L. 107-276, P.L. 108-121, excluding section 109 of P.L. 108-121, P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of P.L. 108-311, and P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L. 108-357, P.L. 109-7, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, and changes that indirectly affect the provisions applicable to this subchapter made by P.L. 106-36, P.L. 106-170, P.L. 106-230, P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, P.L. 107-16, excluding section 431 of P.L. 107-16, P.L. 107-134, P.L. 107-147, excluding sections 101, 301 (a), and 406 of P.L. 107-147, P.L. 107-181, P.L. 107-276, P.L. 108-121, excluding section 109 of P.L. 108-121, P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of P.L. 108-311, and P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L. 108-357, P.L. 109-7, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, apply for Wisconsin purposes at the same time as for federal purposes.

SB1, s. 2001 Section 2001. 71.22 (4) (o) of the statutes is amended to read: