AB773,2,1311 2. "Insulating concrete form" means a hollow expandable polystyrene form
12system that is filled with concrete, but does not include the concrete used to fill the
13form.
AB773,2,1814 (b) Filing claims. Subject to the limitations provided in this subsection, a
15claimant may claim as a credit against the taxes imposed under s. 71.02, up to the
16amount of the taxes, an amount equal to the amount that the claimant paid in the
17taxable year to purchase for use in this state insulating concrete forms used to
18construct the insulated exterior and interior walls of any building.
AB773,3,219 (c) Limitations. Partnerships, limited liability companies, and tax-option
20corporations may not claim the credit under this subsection, but the eligibility for,
21and the amount of, the credit are based on their payment of the amounts described
22under par. (b). A partnership, limited liability company, or tax-option corporation
23shall compute the amount of credit that each of its partners, members, or
24shareholders may claim and shall provide that information to each of them.

1Partners, members of limited liability companies, and shareholders of tax-option
2corporations may claim the credit in proportion to their ownership interests.
AB773,3,43 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
4s. 71.28 (4), applies to the credit under this subsection.
AB773, s. 3 5Section 3. 71.10 (4) (cr) of the statutes is created to read:
AB773,3,66 71.10 (4) (cr) Insulating concrete forms credit under s. 71.07 (3x).
AB773, s. 4 7Section 4. 71.21 (4) of the statutes, as affected by 2009 Wisconsin Act 28, is
8amended to read:
AB773,3,129 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di),
10(2dj), (2dL), (2dm), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3s), (3t), (3w),
11(3x), (5e), (5f), (5g), (5h), (5i), (5j), (5k), and (8r) and passed through to partners shall
12be added to the partnership's income.
AB773, s. 5 13Section 5. 71.26 (2) (a) 4. of the statutes, as affected by 2009 Wisconsin Act 28,
14is amended to read:
AB773,3,2015 71.26 (2) (a) 4. Plus the amount of the credit computed under s. 71.28 (1dd),
16(1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3t),
17(3w), (3x), (5e), (5f), (5g), (5h), (5i), (5j), (5k), and (8r) and not passed through by a
18partnership, limited liability company, or tax-option corporation that has added that
19amount to the partnership's, limited liability company's, or tax-option corporation's
20income under s. 71.21 (4) or 71.34 (1k) (g).
AB773, s. 6 21Section 6. 71.28 (3x) of the statutes is created to read:
AB773,3,2322 71.28 (3x) Insulating concrete forms credit. (a) Definitions. In this
23subsection:
AB773,3,2424 1. "Claimant" means a person who files a claim under this subsection.
AB773,4,3
12. "Insulating concrete form" means a hollow expandable polystyrene form
2system that is filled with concrete, but does not include the concrete used to fill the
3form.
AB773,4,84 (b) Filing claims. Subject to the limitations provided in this subsection, a
5claimant may claim as a credit against the taxes imposed under s. 71.23, up to the
6amount of the taxes, an amount equal to the amount that the claimant paid in the
7taxable year to purchase for use in this state insulating concrete forms used to
8construct the insulated exterior and interior walls of any building.
AB773,4,169 (c) Limitations. Partnerships, limited liability companies, and tax-option
10corporations may not claim the credit under this subsection, but the eligibility for,
11and the amount of, the credit are based on their payment of the amounts described
12under par. (b). A partnership, limited liability company, or tax-option corporation
13shall compute the amount of credit that each of its partners, members, or
14shareholders may claim and shall provide that information to each of them.
15Partners, members of limited liability companies, and shareholders of tax-option
16corporations may claim the credit in proportion to their ownership interests.
AB773,4,1817 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under
18sub. (4), applies to the credit under this subsection.
AB773, s. 7 19Section 7. 71.30 (3) (dn) of the statutes is created to read:
AB773,4,2020 71.30 (3) (dn) Insulating concrete forms credit under s. 71.28 (3x).
AB773, s. 8 21Section 8. 71.34 (1k) (g) of the statutes, as affected by 2009 Wisconsin Act 28,
22is amended to read:
AB773,5,223 71.34 (1k) (g) An addition shall be made for credits computed by a tax-option
24corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy),

1(3), (3g), (3h), (3n), (3p), (3q), (3r), (3t), (3w), (3x), (5e), (5f), (5g), (5h), (5i), (5j), (5k),
2and (8r) and passed through to shareholders.
AB773, s. 9 3Section 9. 71.45 (2) (a) 10. of the statutes, as affected by 2009 Wisconsin Act
428
, is amended to read:
AB773,5,115 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
6computed under s. 71.47 (1dd) to (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3w), (3x), (5e),
7(5f), (5g), (5h), (5i), (5j), (5k), and (8r) and not passed through by a partnership,
8limited liability company, or tax-option corporation that has added that amount to
9the partnership's, limited liability company's, or tax-option corporation's income
10under s. 71.21 (4) or 71.34 (1k) (g) and the amount of credit computed under s. 71.47
11(1), (3), (3t), (4), (4m), and (5).
AB773, s. 10 12Section 10. 71.47 (3x) of the statutes is created to read:
AB773,5,1413 71.47 (3x) Insulating concrete forms credit. (a) Definitions. In this
14subsection:
AB773,5,1515 1. "Claimant" means a person who files a claim under this subsection.
AB773,5,1816 2. "Insulating concrete form" means a hollow expandable polystyrene form
17system that is filled with concrete, but does not include the concrete used to fill the
18form.
AB773,5,2319 (b) Filing claims. Subject to the limitations provided in this subsection, a
20claimant may claim as a credit against the taxes imposed under s. 71.43, up to the
21amount of the taxes, an amount equal to the amount that the claimant paid in the
22taxable year to purchase for use in this state insulating concrete forms used to
23construct the insulated exterior and interior walls of any building.
AB773,6,624 (c) Limitations. Partnerships, limited liability companies, and tax-option
25corporations may not claim the credit under this subsection, but the eligibility for,

1and the amount of, the credit are based on their payment of the amounts described
2under par. (b). A partnership, limited liability company, or tax-option corporation
3shall compute the amount of credit that each of its partners, members, or
4shareholders may claim and shall provide that information to each of them.
5Partners, members of limited liability companies, and shareholders of tax-option
6corporations may claim the credit in proportion to their ownership interests.
AB773,6,87 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
8s. 71.28 (4), applies to the credit under this subsection.
AB773, s. 11 9Section 11. 71.49 (1) (dn) of the statutes is created to read:
AB773,6,1010 71.49 (1) (dn) Insulating concrete forms credit under s. 71.47 (3x).
AB773, s. 12 11Section 12. 77.92 (4) of the statutes, as affected by 2009 Wisconsin Act 28, is
12amended to read:
AB773,7,313 77.92 (4) "Net business income," with respect to a partnership, means taxable
14income as calculated under section 703 of the Internal Revenue Code; plus the items
15of income and gain under section 702 of the Internal Revenue Code, including taxable
16state and municipal bond interest and excluding nontaxable interest income or
17dividend income from federal government obligations; minus the items of loss and
18deduction under section 702 of the Internal Revenue Code, except items that are not
19deductible under s. 71.21; plus guaranteed payments to partners under section 707
20(c) of the Internal Revenue Code; plus the credits claimed under s. 71.07 (2dd), (2de),
21(2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3s),
22(3t), (3w), (3x), (5e), (5f), (5g), (5h), (5i), (5j), (5k), and (8r); and plus or minus, as
23appropriate, transitional adjustments, depreciation differences, and basis
24differences under s. 71.05 (13), (15), (16), (17), and (19); but excluding income, gain,
25loss, and deductions from farming. "Net business income," with respect to a natural

1person, estate, or trust, means profit from a trade or business for federal income tax
2purposes and includes net income derived as an employee as defined in section 3121
3(d) (3) of the Internal Revenue Code.
AB773, s. 13 4Section 13. Initial applicability.
AB773,7,55 (1) This act first applies to taxable years beginning on January 1, 2010.
AB773,7,66 (End)
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