AB40: Bill Text

AB40, s. 1727 Section 1727. 66.0705 of the statutes is amended to read:

AB40,739,2 66.0705 Property of public and private entities subject to special assessments. (1) (a) The property of this state and the University of Wisconsin-Madison, except that held for highway right-of-way purposes or acquired and held for purposes under s. 85.09, and the property of every county, city, village, town, school district, sewerage district or commission, sanitary or water district or commission, or any public board or commission within this state, and of every corporation, company or individual operating any railroad, telegraph, telecommunications, electric light or power system, or doing any of the business mentioned in ch. 76, and of every other corporation or company is in all respects subject to all special assessments for local improvements.

AB40,739,13 (b) Certificates and improvement bonds for special assessments may be issued and the lien of the special assessments enforced against property described in par. (a), except property of the state and the University of Wisconsin-Madison, in the same manner and to the same extent as the property of individuals. Special assessments on property described in par. (a) may not extend to the right, easement or franchise to operate or maintain railroads, telegraph, telecommunications or electric light or power systems in streets, alleys, parks or highways. The amount represented by any certificate or improvement bond issued under this paragraph is a debt due personally from the corporation, company or individual, payable in the case of a certificate when the taxes for the year of its issue are payable, and in the case of a bond according to the terms of the bond.

AB40,739,24 (2) In this subsection, "assessment" means a special assessment on property of this state and the University of Wisconsin-Madison and "project" means any continuous improvement within overall project limits regardless of whether small exterior segments are left unimproved. If the assessment of a project is less than $50,000, or if the assessment of a project is $50,000 or more and the building commission approves the assessment under s. 66.0703 (6), the state agency which manages the property or the University of Wisconsin-Madison, if the university manages the property, shall pay the assessment from the revenue source which supports the general operating costs of the agency or program against which the assessment is made or, in the case of the University of Wisconsin-Madison, from any available revenue source.

AB40, s. 1728 Section 1728. 66.0925 (14) of the statutes is amended to read:

AB40,740,4 66.0925 (14) Construction. Nothing in this section shall be construed as relieving, modifying, or interfering with the responsibilities for operating jails which are vested in sheriffs under s. 59.27 (1) and chiefs of police or chiefs of combined protective services departments under s. 62.09 (13) (b).

AB40, s. 1729 Section 1729. 66.1039 (4) (s) 1. of the statutes is amended to read:

AB40,740,13 66.1039 (4) (s) 1. Impose Subject to subd. 5., impose, by the adoption of a resolution by the board of directors, the taxes under subch. V of ch. 77 in the authority's jurisdictional area. If an authority adopts a resolution to impose the taxes, it shall deliver a certified copy of the resolution to the department of revenue at least 120 days before its effective date. The authority may, by adoption of a resolution by the board of directors, repeal the imposition of taxes under subch. V of ch. 77 and shall deliver a certified copy of the repeal resolution to the department of revenue at least 120 days before its effective date.

AB40, s. 1730 Section 1730. 66.1039 (4) (s) 5. of the statutes is created to read:

AB40,741,3 66.1039 (4) (s) 5. The authority may not impose the taxes specified in subd. 1., and the department of revenue may not collect such taxes, unless after the adoption of the board of directors' resolution to impose these taxes a referendum is held in the authority's jurisdictional area on the question of whether the authority may impose these taxes and the referendum is decided in the affirmative. The authority's board of directors, in conjunction with the appropriate officials of the counties or municipalities in which the referendum will be held, shall be responsible for calling the referendum. If, on the effective date of this subdivision .... [LRB inserts date], the authority has already imposed the taxes specified in subd. 1., these taxes shall be suspended on the first day of the 13th month beginning after the effective date of this subdivision .... [LRB inserts date], and shall remain suspended until the referendum requirement in this subdivision is thereafter satisfied. If a referendum is held under this subdivision, the authority shall promptly provide the department of revenue with the results of the referendum.

AB40, s. 1731 Section 1731. 66.1103 (4m) (a) 1. of the statutes is amended to read:

AB40,741,9 66.1103 (4m) (a) 1. The person, at least 30 days prior to entering into the revenue agreement, has given a notice of intent to enter into the agreement, on a form prescribed under s. 560.034 238.11 (1), to the department of commerce Wisconsin Economic Development Corporation and to any collective bargaining agent in this state with whom the person has a collective bargaining agreement.

AB40, s. 1732 Section 1732. 66.1103 (4m) (a) 2. of the statutes is amended to read:

AB40,741,17 66.1103 (4m) (a) 2. The municipality or county has received an estimate issued under s. 560.034 238.11 (5) (a), and the department of commerce Wisconsin Economic Development Corporation has estimated whether the project which the municipality or county would finance under the revenue agreement is expected to eliminate, create, or maintain jobs on the project site and elsewhere in this state and the net number of jobs expected to be eliminated, created, or maintained as a result of the project.

AB40, s. 1733 Section 1733. 66.1103 (4m) (b) of the statutes is amended to read:

AB40,741,25 66.1103 (4m) (b) Any revenue agreement which an eligible participant enters into with a municipality or county to finance a project shall require the eligible participant to submit to the department of commerce Wisconsin Economic Development Corporation within 12 months after the project is completed or 2 years after a revenue bond is issued to finance the project, whichever is sooner, on a form prescribed under s. 560.034 238.11 (1), the net number of jobs eliminated, created, or maintained on the project site and elsewhere in this state as a result of the project.

AB40, s. 1734 Section 1734. 66.1103 (4s) (a) 1. of the statutes is amended to read:

AB40,742,3 66.1103 (4s) (a) 1. "Department" "Corporation" means the department of commerce Wisconsin Economic Development Corporation.

AB40, s. 1735 Section 1735. 66.1103 (4s) (b) 3. of the statutes is amended to read:

AB40,742,9 66.1103 (4s) (b) 3. The employer shall certify compliance with this subsection to the department corporation, to the governing body of each municipality or county within which a lost job exists and to any collective bargaining agent in this state with which the employer has a collective bargaining agreement at the project site or at a site where a lost job exists.

AB40, s. 1736 Section 1736. 66.1103 (4s) (b) 4. of the statutes is amended to read:

AB40,742,16 66.1103 (4s) (b) 4. The employer shall submit a report to the department corporation every 3 months during the first year after the construction of the project is completed. The reports shall provide information about new jobs, lost jobs, and offers of employment made to persons who were formerly employed at lost jobs. The 4th report shall be the final report. The form and content of the reports shall be prescribed by the department corporation under par. (d).

AB40, s. 1737 Section 1737. 66.1103 (4s) (d) of the statutes is amended to read:

AB40,742,19 66.1103 (4s) (d) The department corporation shall administer this subsection and shall prescribe forms for certification and reports under par. (b).

AB40, s. 1738 Section 1738. 66.1103 (10) (c) of the statutes is amended to read:

AB40,743,4 66.1103 (10) (c) A copy of the initial resolution together with a statement indicating when the public notice required under par. (b) was published shall be filed with the secretary of commerce Wisconsin Economic Development Corporation within 20 days following publication of notice. Prior to the closing of the bond issue, the secretary corporation may require additional information from the eligible participant or the municipality or county. After the closing of the bond issue, the secretary corporation shall be notified of the closing date, any substantive changes made to documents previously filed with the secretary corporation, and the principal amount of the financing.

AB40, s. 1739 Section 1739. 66.1103 (10) (g) of the statutes is amended to read:

AB40,743,9 66.1103 (10) (g) Bonds may not be issued unless prior to adoption of an initial resolution a document which provides a good faith estimate of attorney fees which will be paid from bond proceeds is filed with the clerk of the municipality or county and the department of commerce Wisconsin Economic Development Corporation.

AB40, s. 1740 Section 1740. 66.1104 of the statutes is repealed.

AB40, s. 1741 Section 1741. 66.1105 (13) of the statutes is repealed.

AB40, s. 1742 Section 1742. 66.1305 (2) (a) 1. of the statutes is amended to read:

AB40,743,14 66.1305 (2) (a) 1. "Arts incubator" has the meaning given in s. 44.60 41.60 (1) (a).

AB40, s. 1743 Section 1743. 66.1305 (2) (b) 3. of the statutes is amended to read:

AB40,743,17 66.1305 (2) (b) 3. Apply for a grant or loan under s. 44.60 41.60 in connection with an arts incubator.

AB40, s. 1744 Section 1744. 66.1333 (2m) (am) of the statutes is amended to read:

AB40,743,20 66.1333 (2m) (am) "Arts incubator" has the meaning given in s. 44.60 41.60 (1) (a).

AB40, s. 1745 Section 1745. 66.1333 (2m) (d) 7. of the statutes is amended to read:

AB40,743,24 66.1333 (2m) (d) 7. Studying the feasibility of and initial design for an arts incubator, developing and operating an arts incubator, and applying for a grant or loan under s. 44.60 41.60 in connection with an arts incubator.

AB40, s. 1746 Section 1746. 67.05 (6a) (bg) 2. of the statutes is amended to read:

AB40,744,5 67.05 (6a) (bg) 2. The department of commerce safety and professional services shall determine for each grade level in which pupils attended school in a building described in subd. 1., the average cost per square foot for, and the average number of square feet per pupil included in, 2 recently constructed school buildings that were designed to serve pupils of that grade level, as selected by that department.

AB40, s. 1747 Section 1747. 67.12 (12) (e) 2r. b. of the statutes is amended to read:

AB40,744,11 67.12 (12) (e) 2r. b. The department of commerce safety and professional services shall determine, for each grade level in which pupils attended school in a building described in subd. 2r. a., the average cost per square foot for, and the average number of square feet per pupil included in, 2 recently constructed school buildings that were designed to serve pupils of that grade level, as selected by that department.

AB40, s. 1748 Section 1748. 70.11 (3) (d) of the statutes is created to read:

AB40,744,16 70.11 (3) (d) Notwithstanding the provisions of s. 70.11 (intro.) that relate to leased property or that impose other limitations, all property owned or leased by the University of Wisconsin-Madison, provided that use of the property is primarily related to the purposes of the University of Wisconsin-Madison.

AB40, s. 1749 Section 1749. 70.114 (5) of the statutes is created to read:

AB40,744,19 70.114 (5) Sunset. No aids shall be paid under this section for lands acquired after the effective date of this subsection .... [LRB inserts date].

AB40, s. 1750 Section 1750. 70.119 (3) (e) of the statutes is amended to read:

AB40,744,25 70.119 (3) (e) "State facilities" means all property owned and operated by the state for the purpose of carrying out usual state functions, including the campus of the University of Wisconsin-Madison and the branch campuses of the university University of Wisconsin system but not including land held for highway right-of-way purposes.

AB40, s. 1751 Section 1751. 70.119 (4) of the statutes is amended to read:

AB40,745,7 70.119 (4) The department shall be responsible for negotiating with municipalities on payments for municipal services and may delegate certain responsibilities of negotiation to other state agencies or to the University of Wisconsin-Madison or the University of Wisconsin Hospitals and Clinics Authority. Prior to negotiating with municipalities the department shall submit guidelines for negotiation to the committee for approval.

AB40, s. 1752 Section 1752. 70.58 (1) of the statutes is amended to read:

AB40,745,18 70.58 (1) Except as provided in sub. (2), there is levied an annual tax of two-tenths of one mill for each dollar of the assessed valuation of the property of the state as determined by the department of revenue under s. 70.57, for the purpose of acquiring, preserving and developing the forests of the state and for the purpose of forest crop law and county forest law administration and aid payments, for grants to forestry cooperatives under s. 36.56 37.56, and for the acquisition, purchase and development of forests described under s. 25.29 (7) (a) and (b), the proceeds of the tax to be paid into the conservation fund. The tax shall not be levied in any year in which general funds are appropriated for the purposes specified in this section, equal to or in excess of the amount which the tax would produce.

AB40, s. 1753 Section 1753. 71.01 (6) (um) of the statutes is amended to read:

AB40,748,2 71.01 (6) (um) For taxable years that begin after December 31, 2008, for natural persons and fiduciaries, except fiduciaries of nuclear decommissioning trust or reserve funds, "Internal Revenue Code" means the federal Internal Revenue Code as amended to December 31, 2008, 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, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, sections 1, 3, 4, and 5 of P.L. 106-519, sections 162 and 165 of P.L. 106-554, P.L. 106-573, section 431 of P.L. 107-16, sections 101 and 301 (a) of P.L. 107-147, sections 106, 201, and 202 of P.L. 108-27, section 1201 of P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of P.L. 108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L. 108-357, P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58, section 11146 of P.L. 109-59, section 301 of P.L. 109-73, 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, sections 101, 207, 209, 503, and 513 of P.L. 109-222, section 844 of P.L. 109-280, P.L. 109-432, P.L. 110-28, P.L. 110-140, P.L. 110-141, P.L. 110-142, P.L. 110-166, P.L. 110-172, P.L. 110-185, P.L. 110-234, sections 110, 113, and 301 of P.L. 110-245, P.L. 110-246, except section 15316 of P.L. 110-246, P.L. 110-289, P.L. 110-317, P.L. 110-343, except section 301 of division B and section 313 of division C of P.L. 110-343, and P.L. 110-351 , and as amended by sections 1401, 1402, 1521, 1522, and 1531 of division B of P.L. 111-5, section 301 of P.L. 111-147, and sections 2111, 2112, and 2113 of P.L. 111-240, and as indirectly affected by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-280, P.L. 101-508, P.L. 102-90, 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. 104-117, 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. 107-15, P.L. 107-16, excluding section 431 of P.L. 107-16, P.L. 107-22, P.L. 107-116, P.L. 107-134, P.L. 107-147, excluding sections 101 and 301 (a) of P.L. 107-147, P.L. 107-181, P.L. 107-210, P.L. 107-276, P.L. 107-358, P.L. 108-27, excluding sections 106, 201, and 202 of P.L. 108-27, P.L. 108-121, P.L. 108-173, excluding section 1201 of P.L. 108-173, P.L. 108-203, P.L. 108-218, P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of P.L. 108-311, P.L. 108-357, excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L. 108-357, P.L. 108-375, P.L. 108-476, P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-59, excluding section 11146 of P.L. 109-59, P.L. 109-73, excluding section 301 of P.L. 109-73, 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, P.L. 109-151, P.L. 109-222, excluding sections 101, 207, 209, 503, and 513 of P.L. 109-222, P.L. 109-227, P.L. 109-280, excluding section 844 of P.L. 109-280, P.L. 110-245, excluding sections 110, 113, and 301 of P.L. 110-245, and section 15316 of P.L. 110-246, section 301 of division B and section 313 of division C of P.L. 110-343, P.L. 110-458, sections 1401, 1402, 1521, 1522, and 1531 of division B of P.L. 111-5, section 301 of P.L. 111-147, and sections 2111, 2112, and 2113 of P.L. 111-240. 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, 2008, do not apply to this paragraph with respect to taxable years beginning after December 31, 2008, except that changes to the Internal Revenue Code made by sections 1401, 1402, 1521, 1522, and 1531 of division B of P.L. 111-5, section 301 of P.L. 111-147, and sections 2111, 2112, and 2113 of P.L. 111-240, and changes that indirectly affect the provisions applicable to this subchapter made by sections 1401, 1402, 1521, 1522, and 1531 of division B of P.L. 111-5, section 301 of P.L. 111-147, and sections 2111, 2112, and 2113 of P.L. 111-240, apply for Wisconsin purposes at the same time as for federal purposes.

AB40, s. 1754 Section 1754. 71.01 (13) of the statutes is amended to read:

AB40,748,6 71.01 (13) "Wisconsin adjusted gross income" means federal adjusted gross income, with the modifications prescribed in s. 71.05 (6) to (12), (19), (20), and (24), (25), and (26).

AB40, s. 1755 Section 1755. 71.05 (1) (c) 11. of the statutes is created to read:

AB40,748,12 71.05 (1) (c) 11. The Wisconsin Health and Educational Facilities Authority under s. 231.03 (6), if the bonds or notes are issued to a person who is eligible to receive bonds or notes from another issuer for the same purpose for which the person is issued bonds or notes under s. 231.03 (6) and the interest income received from the other bonds or notes is exempt from taxation under this subchapter.

AB40, s. 1756 Section 1756. 71.05 (6) (b) 23. of the statutes is amended to read:

AB40,748,17 71.05 (6) (b) 23. Any increase in value of a tuition unit that is purchased under a tuition contract under s. 14.63 16.64, except that the subtraction under this subdivision may not be claimed by any individual who received a refund under s. 14.63 16.64 (7) (a) 2., 3. or 4.

AB40, s. 1757 Section 1757. 71.05 (6) (b) 28. h. of the statutes is amended to read:

AB40,748,24 71.05 (6) (b) 28. h. No modification may be claimed under this subdivision for an amount paid for tuition expenses and mandatory student fees, as described under this subdivision, if the source of the payment is an amount withdrawn from a college savings account, as described in s. 14.64 16.641 or from a college tuition and expenses program, as described in s. 14.63 16.64, and if the owner of the account has claimed a deduction under subd. 32. or 33. that relates to such an amount.

AB40, s. 1758 Section 1758. 71.05 (6) (b) 31. of the statutes is amended to read:

AB40,749,4 71.05 (6) (b) 31. Any increase in value of a college savings account, as described in s. 14.64 16.641, except that the subtraction under this subdivision may not be claimed by any individual who has made a nonqualified withdrawal, as described in s. 14.64 16.641 (2) (e).

AB40, s. 1759 Section 1759. 71.05 (6) (b) 32. (intro.) of the statutes is amended to read:

AB40,749,9 71.05 (6) (b) 32. (intro.) An amount paid into a college savings account, as described in s. 14.64 16.641, if the beneficiary of the account is one of the following: the claimant; the claimant's child; the claimant's grandchild; the claimant's great-grandchild; or the claimant's niece or nephew; calculated as follows:

AB40, s. 1760 Section 1760. 71.05 (6) (b) 33. (intro.) of the statutes is amended to read:

AB40,749,15 71.05 (6) (b) 33. (intro.) An amount paid into a college tuition and expenses program, as described in s. 14.63 16.64, if the beneficiary of the account is one of the following: the claimant; the claimant's child; the claimant's grandchild; the claimant's great-grandchild; or the claimant's niece or nephew; calculated as follows:

AB40, s. 1761 Section 1761. 71.05 (8) (b) of the statutes is amended to read:

AB40,750,4 71.05 (8) (b) A Wisconsin net operating loss may be carried forward against Wisconsin taxable incomes of the next 15 taxable years, if the taxpayer was subject to taxation under this chapter in the taxable year in which the loss was sustained, to the extent not offset against other income of the year of loss and to the extent not offset against Wisconsin modified taxable income of any year between the loss year and the taxable year for which the loss carry-forward is claimed. In this paragraph, "Wisconsin modified taxable income" means Wisconsin taxable income with the following exceptions: a net operating loss deduction or offset for the loss year or any taxable year thereafter is not allowed, the deduction for long-term capital gains under sub. subs. (6) (b) 9. and 9m. and (25) is not allowed, the amount deductible for losses from sales or exchanges of capital assets may not exceed the amount includable in income for gains from sales or exchanges of capital assets and "Wisconsin modified taxable income" may not be less than zero.

AB40, s. 1762 Section 1762. 71.05 (24) (a) 4. of the statutes is amended to read:

AB40,750,7 71.05 (24) (a) 4. "Qualified new business venture" means a business certified by the department of commerce under s. 238.20 or s. 560.2085, 2009 stats.

AB40, s. 1763 Section 1763. 71.05 (25) of the statutes is created to read:

AB40,750,10 71.05 (25) Capital gains exclusion; Wisconsin-source assets. (a) In this subsection:

AB40,750,13 1. "Claimant" means an individual; an individual partner or member of a partnership, limited liability company, or limited liability partnership; or an individual shareholder of a tax-option corporation.

AB40,750,19 2. "Qualifying gain" means the gain realized from the sale of any asset which is a Wisconsin capital asset in the year it is purchased by the claimant and for at least 2 of the subsequent 4 years; that is purchased after December 31, 2010; that is held for at least 5 uninterrupted years; and that is treated as a long-term gain under the Internal Revenue Code; except that a qualifying gain may not include any amount for which the claimant claimed a subtraction under sub. (24) (b).

AB40,750,21 3. "Wisconsin business" means a business certified by the Wisconsin Economic Development Corporation under s. 238.145.

AB40,750,22 4. "Wisconsin capital asset" means any of the following:

AB40,750,24 a. Real or tangible personal property that is located in this state and used in a Wisconsin business.

AB40,750,25 b. Stock or other ownership interest in a Wisconsin business.

AB40,751,4 (b) For taxable years beginning after December 31, 2015, for a Wisconsin capital asset that is purchased after December 31, 2010, and held for at least 5 years, a claimant may subtract from federal adjusted gross income the lesser of one of the following amounts, to the extent that it is not subtracted under sub. (6) (b) 9. or 9m.:

AB40,751,8 1. The amount of the claimant's federal net capital gain as reported on Schedule D of the claimant's federal income tax return for the taxable year to which the claim relates, but this subdivision applies only if, in that taxable year, the claimant has a qualifying gain.

AB40,751,10 2. The amount of the claimant's qualifying gain in the year to which the claim relates.

AB40, s. 1764 Section 1764. 71.05 (26) of the statutes is created to read:

AB40,751,13 71.05 (26) Income tax deferral; long-term Wisconsin capital assets. (a) In this subsection:

AB40,751,16 1. "Claimant" means an individual; an individual partner or member of a partnership, limited liability company, or limited liability partnership; or an individual shareholder of a tax-option corporation.

AB40,751,17 2. "Financial institution" has the meaning given in s. 69.30 (1) (b).