For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB24, s. 1
1Section
1. 71.07 (5f) (b) (intro.) of the statutes is amended to read:
SB24,2,52
71.07
(5f) (b)
Filing claims. (intro.) Subject to the limitations provided in this
3subsection, for taxable years beginning
on or after July 1, 2007, and for amounts paid 4after December 31,
2007 2006, a claimant may claim as a credit against the tax
5imposed under s. 71.02 any of the following amounts:
SB24, s. 2
6Section
2. 71.07 (5f) (c) 1. of the statutes is amended to read:
SB24,2,107
71.07
(5f) (c) 1. No amount of the salary or wages paid under par. (b) 1. may
8be the basis for a credit under this subsection unless the salary or wages are paid for
9services rendered after December 31,
2007 2006, and directly incurred to produce the
10accredited production.
SB24, s. 3
11Section
3. 71.07 (5f) (c) 2m. of the statutes is created to read:
SB24,2,1512
71.07
(5f) (c) 2m. For purposes of this subsection, amounts described under par.
13(b) 1. to 3. that the claimant paid after December 31, 2006, and before July 1, 2007,
14are considered to be paid in the claimant's first taxable year beginning on or after
15July 1, 2007, and may be claimed on the claimant's return for that year.
SB24, s. 4
16Section
4. 71.07 (5h) (b) (intro.) of the statutes is amended to read:
SB24,3,217
71.07
(5h) (b)
Filing claims. (intro.) Subject to the limitations provided in this
18subsection, for taxable years beginning
on or after July 1, 2007, and for amounts paid 19after December 31,
2007 2006, a claimant may claim as a credit against the tax
20imposed under s. 71.02, up to the amount of the taxes, for the first 3 taxable years
21that the claimant is doing business in this state as a film production company, an
1amount that is equal to 15 percent of the following that the claimant paid in the
2taxable year to establish a film production company in this state:
SB24, s. 5
3Section
5. 71.07 (5h) (c) 1. of the statutes is amended to read:
SB24,3,74
71.07
(5h) (c) 1. A claimant may claim the credit under par. (b) 1., if the tangible
5personal property is purchased after December 31,
2007
2006, and the personal
6property is used for at least 50 percent of its use in the claimant's business as a film
7production company.
SB24, s. 6
8Section
6. 71.07 (5h) (c) 2. of the statutes is amended to read:
SB24,3,149
71.07
(5h) (c) 2. A claimant may claim the credit under par. (b) 2. for an amount
10expended to construct, rehabilitate, remodel, or repair real property, if the claimant
11began the physical work of construction, rehabilitation, remodeling, or repair, or any
12demolition or destruction in preparation for the physical work, after December 31,
132007 2006, or if the completed project is placed in service after December 31,
2007 142006.
SB24, s. 7
15Section
7. 71.07 (5h) (c) 3. of the statutes is amended to read:
SB24,3,1916
71.07
(5h) (c) 3. A claimant may claim the credit under par. (b) 2. for an amount
17expended to acquire real property, if the property is not previously owned property
18and if the claimant acquires the property after December 31,
2007 2006, or if the
19completed project is placed in service after December 31,
2007 2006.
SB24, s. 8
20Section
8. 71.07 (5h) (c) 3m. of the statutes is created to read:
SB24,3,2421
71.07
(5h) (c) 3m. For purposes of this subsection, amounts described under
22par. (b) 1. and 2. that the claimant paid after December 31, 2006, and before July 1,
232007, are considered to be paid in the claimant's first taxable year beginning on or
24after July 1, 2007, and may be claimed on the claimant's return for that year.
SB24, s. 9
25Section
9. 71.28 (5f) (b) (intro.) of the statutes is amended to read:
SB24,4,4
171.28
(5f) (b)
Filing claims. (intro.) Subject to the limitations provided in this
2subsection, for taxable years beginning
on or after July 1, 2007, and for amounts paid 3after December 31,
2007 2006, a claimant may claim as a credit against the tax
4imposed under s. 71.23 any of the following amounts:
SB24, s. 10
5Section
10. 71.28 (5f) (c) 1. of the statutes is amended to read:
SB24,4,96
71.28
(5f) (c) 1. No amount of the salary or wages paid under par. (b) 1. may
7be the basis for a credit under this subsection unless the salary or wages are paid for
8services rendered after December 31,
2007 2006, and directly incurred to produce the
9accredited production.
SB24, s. 11
10Section
11. 71.28 (5f) (c) 2m. of the statutes is created to read:
SB24,4,1411
71.28
(5f) (c) 2m. For purposes of this subsection, amounts described under par.
12(b) 1. to 3. that the claimant paid after December 31, 2006, and before July 1, 2007,
13are considered to be paid in the claimant's first taxable year beginning on or after
14July 1, 2007, and may be claimed on the claimant's return for that year.
SB24, s. 12
15Section
12. 71.28 (5h) (b) (intro.) of the statutes is amended to read:
SB24,4,2216
71.28
(5h) (b)
Filing claims. (intro.) Subject to the limitations provided in this
17subsection, for taxable years beginning
on or after July 1, 2007, and for amounts paid 18after December 31,
2007 2006, a claimant may claim as a credit against the tax
19imposed under s. 71.23, up to the amount of the taxes, for the first 3 taxable years
20that the claimant is doing business in this state as a film production company, an
21amount that is equal to 15 percent of the following that the claimant paid in the
22taxable year to establish a film production company in this state:
SB24, s. 13
23Section
13. 71.28 (5h) (c) 1. of the statutes is amended to read:
SB24,5,224
71.28
(5h) (c) 1. A claimant may claim the credit under par. (b) 1., if the tangible
25personal property is purchased after December 31,
2007
2006, and the personal
1property is used for at least 50 percent of its use in the claimant's business as a film
2production company.
SB24, s. 14
3Section
14. 71.28 (5h) (c) 2. of the statutes is amended to read:
SB24,5,94
71.28
(5h) (c) 2. A claimant may claim the credit under par. (b) 2. for an amount
5expended to construct, rehabilitate, remodel, or repair real property, if the claimant
6began the physical work of construction, rehabilitation, remodeling, or repair, or any
7demolition or destruction in preparation for the physical work, after December 31,
82007 2006, or if the completed project is placed in service after December 31,
2007 92006.
SB24, s. 15
10Section
15. 71.28 (5h) (c) 3. of the statutes is amended to read:
SB24,5,1411
71.28
(5h) (c) 3. A claimant may claim the credit under par. (b) 2. for an amount
12expended to acquire real property, if the property is not previously owned property
13and if the claimant acquires the property after December 31,
2007 2006, or if the
14completed project is placed in service after December 31,
2007 2006.
SB24, s. 16
15Section
16. 71.28 (5h) (c) 3m. of the statutes is created to read:
SB24,5,1916
71.28
(5h) (c) 3m. For purposes of this subsection, amounts described under
17par. (b) 1. and 2. that the claimant paid after December 31, 2006, and before July 1,
182007, are considered to be paid in the claimant's first taxable year beginning on or
19after July 1, 2007, and may be claimed on the claimant's return for that year.
SB24, s. 17
20Section
17. 71.47 (5f) (b) (intro.) of the statutes is amended to read:
SB24,5,2421
71.47
(5f) (b)
Filing claims. (intro.) Subject to the limitations provided in this
22subsection, for taxable years beginning
on or after July 1, 2007, and for amounts paid 23after December 31,
2007 2006, a claimant may claim as a credit against the tax
24imposed under s. 71.43 any of the following amounts:
SB24, s. 18
25Section
18. 71.47 (5f) (c) 1. of the statutes is amended to read:
SB24,6,4
171.47
(5f) (c) 1. No amount of the salary or wages paid under par. (b) 1. may
2be the basis for a credit under this subsection unless the salary or wages are paid for
3services rendered after December 31,
2007 2006, and directly incurred to produce the
4accredited production.
SB24, s. 19
5Section
19. 71.47 (5f) (c) 2m. of the statutes is created to read:
SB24,6,96
71.47
(5f) (c) 2m. For purposes of this subsection, amounts described under par.
7(b) 1. to 3. that the claimant paid after December 31, 2006, and before July 1, 2007,
8are considered to be paid in the claimant's first taxable year beginning on or after
9July 1, 2007, and may be claimed on the claimant's return for that year.
SB24, s. 20
10Section
20. 71.47 (5h) (b) (intro.) of the statutes is amended to read:
SB24,6,1711
71.47
(5h) (b)
Filing claims. (intro.) Subject to the limitations provided in this
12subsection, for taxable years beginning
on or after July 1, 2007, and for amounts paid 13after December 31,
2007 2006, a claimant may claim as a credit against the tax
14imposed under s. 71.43, up to the amount of the taxes, for the first 3 taxable years
15that the claimant is doing business in this state as a film production company, an
16amount that is equal to 15 percent of the following that the claimant paid in the
17taxable year to establish a film production company in this state:
SB24, s. 21
18Section
21. 71.47 (5h) (c) 1. of the statutes is amended to read:
SB24,6,2219
71.47
(5h) (c) 1. A claimant may claim the credit under par. (b) 1., if the tangible
20personal property is purchased after December 31,
2007
2006, and the personal
21property is used for at least 50 percent of its use in the claimant's business as a film
22production company.
SB24, s. 22
23Section
22. 71.47 (5h) (c) 2. of the statutes is amended to read:
SB24,7,424
71.47
(5h) (c) 2. A claimant may claim the credit under par. (b) 2. for an amount
25expended to construct, rehabilitate, remodel, or repair real property, if the claimant
1began the physical work of construction, rehabilitation, remodeling, or repair, or any
2demolition or destruction in preparation for the physical work, after December 31,
32007 2006, or if the completed project is placed in service after December 31,
2007 42006.
SB24, s. 23
5Section
23. 71.47 (5h) (c) 3. of the statutes is amended to read:
SB24,7,96
71.47
(5h) (c) 3. A claimant may claim the credit under par. (b) 2. for an amount
7expended to acquire real property, if the property is not previously owned property
8and if the claimant acquires the property after December 31,
2007 2006, or if the
9completed project is placed in service after December 31,
2007 2006.
SB24, s. 24
10Section
24. 71.47 (5h) (c) 3m. of the statutes is created to read:
SB24,7,1411
71.47
(5h) (c) 3m. For purposes of this subsection, amounts described under
12par. (b) 1. and 2. that the claimant paid after December 31, 2006, and before July 1,
132007, are considered to be paid in the claimant's first taxable year beginning on or
14after July 1, 2007, and may be claimed on the claimant's return for that year.