SB9: Bill Text

LRB-1132/1

JK:jld:rs

2011 - 2012 LEGISLATURE

2011 Senate BILL 9

January 21, 2011 - Introduced by Senators Kapanke, Harsdorf, Hopper, Wanggaard, Moulton and Schultz, cosponsored by Representatives Ripp, Nerison, Tranel, A. Ott, Petrowski, Kestell, Petersen, Radcliffe, Brooks, Tauchen, Spanbauer, Wynn, LeMahieu, Steineke, Williams, Mursau, Ballweg, Jacque, Marklein, Nygren and Strachota. Referred to Committee on Agriculture, Forestry, and Higher Education.

SB9,1,4 An Act to amend 71.07 (3n) (a) 2. (intro.), 71.07 (3n) (a) 6. b., 71.07 (3n) (b) 1., 71.28 (3n) (a) 2. (intro.), 71.28 (3n) (a) 6. b., 71.28 (3n) (b) 1., 71.47 (3n) (a) 2. (intro.), 71.47 (3n) (a) 6. b. and 71.47 (3n) (b) 1. of the statutes; relating to: the dairy and livestock farm investment credits.

Analysis by the Legislative Reference Bureau

Under current law, a taxpayer may claim an income and franchise tax credit for amounts paid for dairy or livestock farm modernization and expansion for taxable years beginning after December 31, 2003, and before January 1, 2012. Under this bill, a taxpayer may claim the credit for taxable years beginning after December 31, 2003, and before January 1, 2017.

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:

SB9, s. 1 Section 1. 71.07 (3n) (a) 2. (intro.) of the statutes is amended to read:

SB9,2,4 71.07 (3n) (a) 2. (intro.) "Dairy farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or the acquisition of equipment, for dairy animal housing, confinement, animal feeding, milk production, or waste management, including the following, if used exclusively related to dairy animals and if acquired and placed in service in this state during taxable years that begin after December 31, 2003, and before January 1, 2012 2017:

SB9, s. 2 Section 2. 71.07 (3n) (a) 6. b. of the statutes is amended to read:

SB9,2,9 71.07 (3n) (a) 6. b. For taxable years that begin after December 31, 2005, and before January 1, 2012 2017, "used exclusively," related to livestock, dairy animals, or both, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.

SB9, s. 3 Section 3. 71.07 (3n) (b) 1. of the statutes is amended to read:

SB9,2,16 71.07 (3n) (b) 1. Subject to the limitations provided in this subsection, for taxable years that begin after December 31, 2003, and before January 1, 2012 2017, a claimant may claim as a credit against the tax imposed under ss. 71.02 and 71.08 an amount equal to 10% of the amount the claimant paid in the taxable year for dairy farm modernization or expansion related to the operation of the claimant's dairy farm.

SB9, s. 4 Section 4. 71.28 (3n) (a) 2. (intro.) of the statutes is amended to read:

SB9,2,23 71.28 (3n) (a) 2. (intro.) "Dairy farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or acquiring equipment, for dairy animal housing, confinement, animal feeding, milk production, or waste management, including the following, if used exclusively related to dairy animals and if acquired and placed in service in this state during taxable years that begin after December 31, 2003, and before January 1, 2012 2017:

SB9, s. 5 Section 5. 71.28 (3n) (a) 6. b. of the statutes is amended to read:

SB9,3,4 71.28 (3n) (a) 6. b. For taxable years that begin after December 31, 2005, and before January 1, 2012 2017, "used exclusively," related to livestock, dairy animals, or both, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.

SB9, s. 6 Section 6. 71.28 (3n) (b) 1. of the statutes is amended to read:

SB9,3,10 71.28 (3n) (b) 1. Subject to the limitations provided in this subsection, for taxable years that begin after December 31, 2003, and before January 1, 2012 2017, a claimant may claim as a credit against the tax imposed under s. 71.23 an amount equal to 10% of the amount the claimant paid in the taxable year for dairy farm modernization or expansion related to the operation of the claimant's dairy farm.

SB9, s. 7 Section 7. 71.47 (3n) (a) 2. (intro.) of the statutes is amended to read:

SB9,3,17 71.47 (3n) (a) 2. (intro.) "Dairy farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or the acquisition of equipment, for dairy animal housing, confinement, animal feeding, milk production, or waste management, including the following, if used exclusively related to dairy animals and if acquired and placed in service in this state during taxable years that begin after December 31, 2003, and before January 1, 2012 2017:

SB9, s. 8 Section 8. 71.47 (3n) (a) 6. b. of the statutes is amended to read:

SB9,3,22 71.47 (3n) (a) 6. b. For taxable years that begin after December 31, 2005, and before January 1, 2012 2017, "used exclusively," related to livestock, dairy animals, or both, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.

SB9, s. 9 Section 9. 71.47 (3n) (b) 1. of the statutes is amended to read:

SB9,4,3 71.47 (3n) (b) 1. Subject to the limitations provided in this subsection, for taxable years that begin after December 31, 2003, and before January 1, 2012 2017, a claimant may claim as a credit against the tax imposed under s. 71.43 an amount equal to 10% of the amount the claimant paid in the taxable year for dairy farm modernization or expansion related to the operation of the claimant's dairy farm.

SB9,4,4 (End)