AB40, s. 3355 14Section 3355. 560.204 of the statutes is renumbered 238.14 and amended to
15read:
AB40,1189,19 16238.14 Hardware and software used to maintain medical records. (1)
17The department corporation shall implement a program to certify health care
18providers as eligible for the electronic medical records credit under ss. 71.07 (5i),
1971.28 (5i), and 71.47 (5i).
AB40,1189,23 20(2) If the department corporation certifies a health care provider under sub.
21(1), the department corporation shall determine the amount of credits to allocate to
22the health care provider. The total amount of electronic medical records credits
23allocated to health care providers in any year may not exceed $10,000,000.
AB40,1190,3
1(3) The department corporation shall inform the department of revenue of
2every health care provider certified under sub. (1) and the amount of credits allocated
3to the health care provider.
AB40,1190,5 4(4) The department corporation, in consultation with the department of
5revenue, shall promulgate adopt rules to administer this section.
AB40, s. 3356 6Section 3356. 560.205 of the statutes is renumbered 238.15, and 238.15 (1)
7(intro.), (2) and (3) (a), (b), (d) (intro.), 1., 2. a. and b. and (e), as renumbered, are
8amended to read:
AB40,1190,189 238.15 (1) Angel investment tax credits. (intro.) The department corporation
10shall implement a program to certify businesses for purposes of s. 71.07 (5d). A
11business desiring certification shall submit an application to the department
12corporation in each taxable year for which the business desires certification. The
13business shall specify in its application the investment amount it wishes to raise and
14the department corporation may certify the business and determine the amount that
15qualifies for purposes of s. 71.07 (5d). Unless otherwise provided under the rules of
16the department, a
A business may be certified under this subsection, and may
17maintain such certification, only if the business satisfies all of the following
18conditions:
AB40,1191,7 19(2) Early stage seed investment tax credits. The department corporation
20shall implement a program to certify investment fund managers for purposes of ss.
2171.07 (5b), 71.28 (5b), 71.47 (5b), and 76.638. An investment fund manager desiring
22certification shall submit an application to the department corporation. The
23investment fund manager shall specify in the application the investment amount
24that the manager wishes to raise and the department corporation may certify the
25manager and determine the amount that qualifies for purposes of ss. 71.07 (5b),

171.28 (5b), 71.47 (5b), and 76.638. In determining whether to certify an investment
2fund manager, the department corporation shall consider the investment fund
3manager's experience in managing venture capital funds, the past performance of
4investment funds managed by the applicant, the expected level of investment in the
5investment fund to be managed by the applicant, and any other relevant factors. The
6department corporation may certify only investment fund managers that commit to
7consider placing investments in businesses certified under sub. (1).
AB40,1191,11 8(3) (a) List of certified businesses and investment fund managers. The
9department corporation shall maintain a list of businesses certified under sub. (1)
10and investment fund managers certified under sub. (2) and shall permit public access
11to the lists through the department's corporation's Internet Web site.
AB40,1191,1512 (b) Notification of department of revenue. The department of commerce
13corporation shall notify the department of revenue of every certification issued under
14sub. subs. (1) and (2) and the date on which any such certification is revoked or
15expires.
AB40,1192,1716 (d) Rules. (intro.) The department of commerce corporation, in consultation
17with the department of revenue, shall promulgate adopt rules to administer this
18section. The rules shall further define "bona fide angel investment" for purposes of
19s. 71.07 (5d) (a) 1. The rules shall limit the aggregate amount of tax credits under
20s. 71.07 (5d) that may be claimed for investments in businesses certified under sub.
21(1) at $3,000,000 per calendar year for calendar years beginning after December 31,
222004, and before January 1, 2008, $5,500,000 per calendar year for calendar years
23beginning after December 31, 2007, and before January 1, 2010, $6,500,000 for
24calendar year 2010, and $20,000,000 per calendar year for calendar years beginning
25after December 31, 2010, plus, for taxable years beginning after December 31, 2010,

1an additional $250,000 for tax credits that may be claimed for investments in
2nanotechnology businesses certified under sub. (1). The rules shall also limit the
3aggregate amount of the tax credits under ss. 71.07 (5b), 71.28 (5b), 71.47 (5b), and
476.638 that may be claimed for investments paid to fund managers certified under
5sub. (2) at $3,500,000 per calendar year for calendar years beginning after December
631, 2004, and before January 1, 2008, $6,000,000 per calendar year for calendar
7years beginning after December 31, 2007, and before January 1, 2010, $8,000,000 for
8calendar year 2010, and $20,500,000 per calendar year for calendar years beginning
9after December 31, 2010, plus, for taxable years beginning after December 31, 2010,
10an additional $250,000 for tax credits that may be claimed for investments in
11nanotechnology businesses certified under sub. (1). The rules shall also provide that,
12for calendar years beginning after December 31, 2007, no person may receive a credit
13under ss. 71.07 (5b) and (5d), 71.28 (5b), 71.47 (5b), or 76.638 unless the person's
14investment is kept in a certified business, or with a certified fund manager, for no less
15than 3 years. The rules shall permit the department corporation to reallocate credits
16under this section that are unused in any calendar year to a person eligible for tax
17benefits, as defined under s. 560.2055 238.16 (1) (d), if all of the following apply:
AB40,1192,1918 1. The department corporation notifies the joint committee on finance in
19writing of its proposed reallocation.
AB40,1192,2320 2. a. The cochairpersons of the joint committee on finance fail to notify the
21department corporation, within 14 working days after the date of the department's
22corporation's notification under subd. 1., that the committee has scheduled a meeting
23for the purpose of reviewing the proposed reallocation.
AB40,1192,2524 b. The cochairpersons of the joint committee on finance notify the department
25corporation that the committee has approved the proposed reallocation.
AB40,1193,12
1(e) Transfer. A person who is eligible to claim a credit under s. 71.07 (5b), 71.28
2(5b), 71.47 (5b), or 76.638 may sell or otherwise transfer the credit to another person
3who is subject to the taxes or fees imposed under s. 71.02, 71.23, 71.47, or subch. III
4of ch. 76, if the person receives prior authorization from the investment fund
5manager and the manager then notifies the department of commerce corporation
6and the department of revenue of the transfer and submits with the notification a
7copy of the transfer documents. No person may sell or otherwise transfer a credit as
8provided in this paragraph more than once in a 12-month period. The department
9corporation may charge any person selling or otherwise transferring a credit under
10this paragraph a fee equal to 1 percent of the credit amount sold or transferred. The
11department shall deposit all fees collected under this paragraph in the appropriation
12account under s. 20.143 (1) (gm).
AB40, s. 3357 13Section 3357. 560.2055 (title) and (1) of the statutes are renumbered 238.16
14(title) and (1).
AB40, s. 3358 15Section 3358. 560.2055 (2) of the statutes is renumbered 238.16 (2), and
16238.16 (2) (intro.) and (b), as renumbered, are amended to read:
AB40,1193,1817 238.16 (2) (intro.) The department corporation may certify a person to receive
18tax benefits under this section if all of the following apply:
AB40,1193,2019 (b) The person applies under this section and enters into a contract with the
20department corporation.
AB40, s. 3359 21Section 3359. 560.2055 (3) (intro.) and (c) of the statutes are renumbered
22238.16 (3) (intro.) and (c) and amended to read:
AB40,1194,223 238.16 (3) Eligibility for tax benefits. (intro.) A person certified under sub.
24(2) may receive tax benefits under this section if, in each year for which the person

1claims tax benefits under this section, the person increases net employment in the
2person's business and
one of the following apply applies:
AB40,1194,83 (c) In a tier I county or municipality or a tier II county or municipality, the
4person increases net employment in the person's business and improves the
5job-related skills of any eligible employee, trains any eligible employee on the use
6of job-related new technologies, or provides job-related training to any eligible
7employee whose employment with the person represents the employee's first
8full-time job.
AB40, s. 3360 9Section 3360. 560.2055 (3) (a) of the statutes is repealed.
AB40, s. 3361 10Section 3361. 560.2055 (3) (b) of the statutes is repealed.
AB40, s. 3362 11Section 3362. 560.2055 (4) (title) and (a) of the statutes are renumbered
12238.16 (4) (title) and (a).
AB40, s. 3363 13Section 3363. 560.2055 (4) (b) 1. (intro.) of the statutes is renumbered 238.16
14(4) (b) 1. and amended to read:
AB40,1194,1915 238.16 (4) (b) 1. The department corporation may award to a person certified
16under sub. (2) tax benefits for each eligible employee in an amount equal to up to 10
17percent of the wages paid by the person to that employee if that employee earned
18wages in the year for which the tax benefit is claimed equal to one of the following:

19or $10,000, whichever is less.
AB40, s. 3364 20Section 3364. 560.2055 (4) (b) 1. a. and b. of the statutes are repealed.
AB40, s. 3365 21Section 3365. 560.2055 (4) (b) 2. and (c) of the statutes are renumbered 238.16
22(4) (b) 2. and (c) and amended to read:
AB40,1195,223 238.16 (4) (b) 2. The department corporation may award to a person certified
24under sub. (2) tax benefits in an amount to be determined by the department by rule

1corporation for costs incurred by the person to undertake the training activities
2described in sub. (3) (c).
AB40,1195,53 (c) Subject to a reallocation by the department corporation pursuant to rules
4promulgated adopted under s. 560.205 238.215 (3) (d), the department corporation
5may allocate up to $5,000,000 in tax benefits under this section in any calendar year.
AB40, s. 3366 6Section 3366. 560.2055 (5) of the statutes is renumbered 238.16 (5), and
7238.16 (5) (title), (a), (b), (c), (d), (e) and (f) (intro.) and 1. (intro.), as renumbered, are
8amended to read:
AB40,1195,119 238.16 (5) (title) Duties of the department corporation. (a) The department
10of commerce
corporation shall notify the department of revenue when the
11department of commerce corporation certifies a person to receive tax benefits.
AB40,1195,1312 (b) The department of commerce corporation shall notify the department of
13revenue within 30 days of revoking a certification made under sub. (2).
AB40,1195,1614 (c) The department corporation may require a person to repay any tax benefits
15the person claims for a year in which the person failed to maintain employment
16required by an agreement under sub. (2) (b).
AB40,1195,1917 (d) The department corporation shall determine the maximum amount of the
18tax credits under ss. 71.07 (3q), 71.28 (3q), and 71.47 (3q) that a certified business
19may claim and shall notify the department of revenue of this amount.
AB40,1195,2220 (e) The department corporation shall annually verify the information
21submitted to the department corporation by the person claiming tax benefits under
22ss. 71.07 (3q), 71.28 (3q), and 71.47 (3q).
AB40,1195,2523 (f) (intro.) The department corporation shall promulgate adopt rules for the
24implementation and operation of this section, including rules relating to the
25following:
AB40,1196,3
11. (intro.) The definitions of a tier I county or municipality and a tier II county
2or municipality. The department corporation may consider all of the following
3information when establishing the definitions required under this subdivision:
AB40, s. 3367 4Section 3367. 560.2056 of the statutes is renumbered 238.17 and amended to
5read:
AB40,1196,9 6238.17 Food processing plant and food warehouse investment credit.
7(1) The department of commerce corporation shall implement a program to certify
8taxpayers as eligible for the food processing plant and food warehouse investment
9credit under ss. 71.07 (3rn), 71.28 (3rn), and 71.47 (3rn).
AB40,1196,16 10(2) If the department of commerce corporation certifies a taxpayer under sub.
11(1), the department of commerce corporation shall determine the amount of credits
12to allocate to that taxpayer. The total amount of food processing plant and food
13warehouse investment credits allocated to taxpayers in fiscal year 2009-10 may not
14exceed $600,000 and the total amount of food processing plant and food warehouse
15investment credits allocated to taxpayers in fiscal year 2010-11, and in each fiscal
16year thereafter, may not exceed $700,000.
AB40,1196,19 17(3) The department of commerce corporation shall inform the department of
18revenue of every taxpayer certified under sub. (1) and the amount of credits allocated
19to the taxpayer.
AB40,1196,21 20(4) The department of commerce corporation, in consultation with the
21department of revenue, shall promulgate adopt rules to administer this section.
AB40, s. 3368 22Section 3368. 560.206 of the statutes is renumbered 41.155, and 41.155 (4),
23as renumbered, is amended to read:
AB40,1196,2524 41.155 (4) The department of commerce tourism, in consultation with the
25department of revenue, shall promulgate rules to administer this section.
AB40, s. 3369
1Section 3369. 560.207 of the statutes is renumbered 93.535 and amended to
2read:
AB40,1197,7 393.535 Dairy manufacturing facility investment credit. (1) The
4department of commerce shall implement a program to certify taxpayers, including
5taxpayers who are members of dairy cooperatives, as eligible for the dairy
6manufacturing facility investment credit under ss. 71.07 (3p), 71.28 (3p), and 71.47
7(3p).
AB40,1197,19 8(2) If the department of commerce certifies a taxpayer under sub. (1), the
9department of commerce shall determine the amount of credits to allocate to that
10taxpayer. The total amount of dairy manufacturing facility investment credits
11allocated to taxpayers in fiscal year 2007-08 may not exceed $600,000 and the total
12amount of dairy manufacturing facility investment credits allocated to taxpayers
13who are not members of dairy cooperatives in fiscal year 2008-09, and in each fiscal
14year thereafter, may not exceed $700,000. The total amount of dairy manufacturing
15facility investment credits allocated to taxpayers who are members of dairy
16cooperatives in fiscal year 2009-10 may not exceed $600,000 and the total amount
17of dairy manufacturing facility investment credits allocated to taxpayers who are
18members of dairy cooperatives in fiscal year 2010-11, and in each fiscal year
19thereafter, may not exceed $700,000.
AB40,1197,22 20(3) The department of commerce shall inform the department of revenue of
21every taxpayer certified under sub. (1) and the amount of credits allocated to the
22taxpayer.
AB40,1197,24 23(4) The department of commerce, in consultation with the department of
24revenue, shall promulgate rules to administer this section.
AB40, s. 3370
1Section 3370. 560.208 of the statutes is renumbered 238.19 and amended to
2read:
AB40,1198,6 3238.19 Meat processing facility investment credit. (1) The department
4of commerce
corporation shall implement a program to certify taxpayers as eligible
5for the meat processing facility investment credit under ss. 71.07 (3r), 71.28 (3r), and
671.47 (3r).
AB40,1198,13 7(2) If the department of commerce corporation certifies a taxpayer under sub.
8(1), the department of commerce corporation shall determine the amount of credits
9to allocate to that taxpayer. The total amount of meat processing facility investment
10credits allocated to taxpayers in fiscal year 2009-10 may not exceed $300,000 and
11the total amount of meat processing facility investment credits allocated to
12taxpayers in fiscal year 2010-11, and in each fiscal year thereafter, may not exceed
13$700,000.
AB40,1198,16 14(3) The department of commerce corporation shall inform the department of
15revenue of every taxpayer certified under sub. (1) and the amount of credits allocated
16to the taxpayer.
AB40,1198,18 17(4) The department of commerce corporation, in consultation with the
18department of revenue, shall promulgate adopt rules to administer this section.
AB40, s. 3371 19Section 3371. 560.2085 of the statutes is renumbered 238.20, and 238.20 (1)
20(intro.), (2) and (3), as renumbered, are amended to read:
AB40,1199,221 238.20 (1) (intro.) The department corporation shall implement a program to
22certify qualified new business ventures for purposes of s. 71.05 (24). A business
23desiring certification shall submit an application to the department corporation in
24each taxable year for which the business desires certification. Subject to sub. (2), a

1business may be certified under this subsection, and may maintain such
2certification, only if the business is engaged in one of the following:
AB40,1199,7 3(2) The department corporation may not certify a business under sub. (1) if the
4business is engaged in real estate development, insurance, banking, lending,
5lobbying, political consultation, professional services provided by attorneys,
6accountants, business consultants, physicians, or health care consultants, wholesale
7or retail sales, leisure, hospitality, transportation, or construction.
AB40,1199,10 8(3) (a) The department corporation shall maintain a list of businesses certified
9under sub. (1) and shall permit public access to the lists through the department's
10corporation's Internet Web site.
AB40,1199,1311 (b) The department of commerce corporation shall notify the department of
12revenue of every certification issued under sub. (1) and the date on which a
13certification under sub. (1) is revoked or expires.
AB40, s. 3372 14Section 3372. 560.209 of the statutes is renumbered 238.21 and amended to
15read:
AB40,1199,19 16238.21 Woody biomass harvesting and processing credit. (1) The
17department of commerce corporation shall implement a program to certify taxpayers
18as eligible for the woody biomass harvesting and processing credit under ss. 71.07
19(3rm), 71.28 (3rm), and 71.47 (3rm).
AB40,1200,2 20(2) If the department of commerce corporation certifies a taxpayer under sub.
21(1), the department of commerce corporation shall determine the amount of credits
22to allocate to that taxpayer. The total amount of woody biomass harvesting and
23processing credits allocated to taxpayers in any fiscal year may not exceed $900,000.
24In each fiscal year, the department of commerce corporation shall allocate $450,000
25in tax credits to businesses that, individually, have no more than $5,000,000 in gross

1receipts from doing business in this state for the taxable year in which the credit is
2claimed.
AB40,1200,5 3(3) The department of commerce corporation shall inform the department of
4revenue of every taxpayer certified under sub. (1) and the amount of credits allocated
5to the taxpayer.
AB40,1200,7 6(4) The department of commerce corporation, in consultation with the
7department of revenue, shall promulgate adopt rules to administer this section.
AB40, s. 3373 8Section 3373. 560.21 of the statutes is repealed.
AB40, s. 3374 9Section 3374. 560.25 of the statutes is repealed.
AB40, s. 3375 10Section 3375. 560.255 of the statutes is repealed.
AB40, s. 3376 11Section 3376. 560.27 of the statutes is repealed.
AB40, s. 3377 12Section 3377. 560.275 of the statutes is repealed.
AB40, s. 3378 13Section 3378. 560.276 of the statutes is repealed.
AB40, s. 3379 14Section 3379. 560.277 of the statutes is repealed.
AB40, s. 3380 15Section 3380. 560.28 of the statutes is repealed.
AB40, s. 3381 16Section 3381. 560.285 of the statutes is repealed.
AB40, s. 3382 17Section 3382. 560.29 of the statutes is repealed.
AB40, s. 3383 18Section 3383. Subchapter II (title) of chapter 560 [precedes 560.30] of the
19statutes is repealed.
AB40, s. 3384 20Section 3384. 560.30 of the statutes is repealed.
AB40, s. 3385 21Section 3385. 560.301 of the statutes is repealed.
AB40, s. 3386 22Section 3386. 560.302 of the statutes is repealed.
AB40, s. 3387 23Section 3387. 560.303 of the statutes is repealed.
AB40, s. 3388 24Section 3388. 560.304 of the statutes is repealed.
AB40, s. 3389 25Section 3389. 560.305 of the statutes is repealed.
AB40, s. 3390
1Section 3390. Subchapter III (title) of chapter 560 [precedes 560.41] of the
2statutes is repealed.
AB40, s. 3391 3Section 3391. 560.41 of the statutes is repealed.
AB40, s. 3392 4Section 3392. 560.42 of the statutes is repealed.
AB40, s. 3393 5Section 3393. 560.43 of the statutes is repealed.
AB40, s. 3394 6Section 3394. 560.44 of the statutes is repealed.
AB40, s. 3395 7Section 3395. 560.45 of the statutes is renumbered 490.05, and 490.05 (1), as
8renumbered, is amended to read:
Loading...
Loading...