SB94: Bill Text

SB94,21,3 16.765 (8) If further violations of this section are committed during the term of the contract, the contracting agency, the Fox River Navigational System Authority, the Wisconsin Aerospace Authority, the Health Insurance Risk-Sharing Plan Authority, the Lower Fox River Remediation Authority, the Wisconsin Venture Capital Authority, the Wisconsin Economic Development Corporation, or the Bradley Center Sports and Entertainment Corporation may permit the violating party to complete the contract, after complying with this section, but thereafter the contracting agency, the Fox River Navigational System Authority, the Wisconsin Aerospace Authority, the Health Insurance Risk-Sharing Plan Authority, the Lower Fox River Remediation Authority, the Wisconsin Venture Capital Authority, the Wisconsin Economic Development Corporation, or the Bradley Center Sports and Entertainment Corporation shall request the department to place the name of the party on the ineligible list for state contracts, or the contracting agency, the Fox River Navigational System Authority, the Wisconsin Aerospace Authority, the Health Insurance Risk-Sharing Plan Authority, the Lower Fox River Remediation Authority, the Wisconsin Venture Capital Authority, the Wisconsin Economic Development Corporation, or the Bradley Center Sports and Entertainment Corporation may terminate the contract without liability for the uncompleted portion or any materials or services purchased or paid for by the contracting party for use in completing the contract.

SB94, s. 30 Section 30. 16.85 (2) of the statutes, as affected by 2011 Wisconsin Act 10, is amended to read:

SB94,21,16 16.85 (2) To furnish engineering, architectural, project management, and other building construction services whenever requisitions therefor are presented to the department by any agency. The department may deposit moneys received from the provision of these services in the account under s. 20.505 (1) (kc) or in the general fund as general purpose revenue — earned. In this subsection, "agency" means an office, department, independent agency, institution of higher education, association, society, or other body in state government created or authorized to be created by the constitution or any law, which is entitled to expend moneys appropriated by law, including the legislature and the courts, but not including an authority created in subch. II of ch. 114 or subch. III of ch. 149 or in ch. 231, 233, 234, 237, 238, 239, or 279.

SB94, s. 31 Section 31. 16.865 (8) of the statutes, as affected by 2011 Wisconsin Act 10, is amended to read:

SB94,22,8 16.865 (8) Annually in each fiscal year, allocate as a charge to each agency a proportionate share of the estimated costs attributable to programs administered by the agency to be paid from the appropriation under s. 20.505 (2) (k). The department may charge premiums to agencies to finance costs under this subsection and pay the costs from the appropriation on an actual basis. The department shall deposit all collections under this subsection in the appropriation account under s. 20.505 (2) (k). Costs assessed under this subsection may include judgments, investigative and adjustment fees, data processing and staff support costs, program administration costs, litigation costs, and the cost of insurance contracts under sub. (5). In this subsection, "agency" means an office, department, independent agency, institution of higher education, association, society, or other body in state government created or authorized to be created by the constitution or any law, that is entitled to expend moneys appropriated by law, including the legislature and the courts, but not including an authority created in subch. II of ch. 114 or subch. III of ch. 149 or in ch. 231, 232, 233, 234, 235, 237, 238, 239, or 279.

SB94, s. 32 Section 32. 19.42 (10) (t) of the statutes is created to read:

SB94,22,14 19.42 (10) (t) The executive director of the Wisconsin Venture Capital Authority, the members of the authority's board of directors who are appointed by the speaker of the assembly and the majority leader of the senate, and the fund manager of the badger jobs fund hired by the authority under s. 239.11 (4), including all partners, members, officers, or other principals if the fund manager is an entity.

SB94, s. 33 Section 33. 19.42 (13) (p) of the statutes is created to read:

SB94,22,20 19.42 (13) (p) The executive director of the Wisconsin Venture Capital Authority, the members of the authority's board of directors who are appointed by the speaker of the assembly and the majority leader of the senate, and the fund manager of the badger jobs fund hired by the authority under s. 239.11 (4), including all partners, members, officers, or other principals if the fund manager is an entity.

SB94, s. 34 Section 34. 20.195 of the statutes is created to read:

SB94,22,23 20.195 Wisconsin Venture Capital Authority. There is appropriated to the Wisconsin Venture Capital Authority for the following program:

SB94,23,3 (1) Venture capital investment programs. (a) Establishment and operation. As a continuing appropriation, the amounts in the schedule for the establishment and operation of the Wisconsin Venture Capital Authority.

SB94,23,6 (g) Administration of the badger jobs fund. 1. All moneys received under s. 73.033 (1) (b) and (2) (b), for administration of the badger jobs fund under subch. II of ch. 239 and the jobs now fund program under subch. III of ch. 239.

SB94,23,9 2. Notwithstanding s. 20.001 (3) (c), if, at the end of a fiscal year, the authority has satisfied 100 percent of its debt with respect to the badger jobs fund, the unencumbered balance in this appropriation shall lapse to the general fund.

SB94,23,11 3. No moneys may be received in this appropriation after the badger jobs fund is dissolved under s. 239.11 (3) (a).

SB94, s. 35 Section 35. 40.02 (54) (n) of the statutes is created to read:

SB94,23,13 40.02 (54) (n) The Wisconsin Venture Capital Authority.

SB94, s. 36 Section 36. 70.11 (38v) of the statutes is created to read:

SB94,23,17 70.11 (38v) Wisconsin Venture Capital Authority. All property owned by the Wisconsin Venture Capital Authority, provided that use of the property is primarily related to the purposes of the Wisconsin Venture Capital Authority.

SB94, s. 37 Section 37. 71.05 (6) (a) 15. of the statutes is amended to read:

SB94,23,24 71.05 (6) (a) 15. The amount of the credits computed under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3s), (3t), (3w), (5e), (5f), (5h), (5i), (5j), (5k), (5r), (5rm), and (8r), and (8s) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g).

SB94, s. 38 Section 38. 71.05 (6) (a) 25. of the statutes is created to read:

SB94,24,2 71.05 (6) (a) 25. The amount of the credits received under ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e).

SB94, s. 39 Section 39. 71.05 (6) (a) 26. of the statutes is created to read:

SB94,24,6 71.05 (6) (a) 26. The amount received for the sale or transfer of credits received under ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e), including the fair market value of property received.

SB94, s. 40 Section 40. 71.05 (6) (b) 48. of the statutes is created to read:

SB94,24,14 71.05 (6) (b) 48. The amount of the credits sold or transferred to another person under s. 71.07 (8s) (e) in the taxable year that has been added to income under par. (a) 15. in the taxable year or in a previous taxable year. A partner, member of a limited liability company, or shareholder of a tax-option corporation who sells or transfers a credit may subtract the amount of the credit sold or transferred to the extent that it was included in the partner's, member's, or shareholder's distributive share of income.

SB94, s. 41 Section 41. 71.07 (8s) of the statutes is created to read:

SB94,24,17 71.07 (8s) Badger jobs fund bonds credit. (a) Definition. In this subsection, "claimant" means a person who files a claim under this subsection.

SB94,24,22 (b) Filing claims. Subject to the limitations provided in this subsection and s. 239.11, for taxable years beginning after December 31, 2016, a claimant who purchases bonds issued under s. 239.11 (2) and who has been awarded a credit under s. 239.14, may claim as a credit against the tax imposed under s. 71.02, up to the amount of the tax, the amount determined under s. 239.14.

SB94,25,6 (c) Limitations. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their purchase of bonds issued under s. 239.11 (2) for which a credit has been awarded under s. 239.14. A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.

SB94,25,12 (d) Carry-forward. 1. If a credit computed under this subsection is not entirely offset against Wisconsin income or franchise taxes otherwise due, the unused balance may be carried forward and credited against Wisconsin income or franchise taxes otherwise due for the following taxable years to the extent not offset by these taxes otherwise due in all intervening years between the year in which the expense was incurred and the year in which the carry-forward credit is claimed.

SB94,25,14 2. The amount of the carry-forward computed under subd. 1. shall be reduced by the amount of any credit transferred under par. (e).

SB94,25,22 (e) Sale of credit. A person who is awarded a credit under s. 239.14, or to whom a credit is transferred as provided under this paragraph, may sell or otherwise transfer the credit to another person who is subject to the tax imposed under s. 71.02, 71.23, or 71.43 if the person notifies the department of revenue and the Wisconsin Venture Capital Authority created under ch. 239 of the transfer and includes with the notification a copy of the transfer documents. No credit may be sold or transferred under this paragraph until 180 days after the date on which the person becomes eligible to claim the credit.

SB94,25,24 (f) Administration. 1. Section 71.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

SB94,25,25 2. The department shall promulgate rules to administer this subsection.

SB94, s. 42 Section 42. 71.10 (4) (ds) of the statutes is created to read:

SB94,26,2 71.10 (4) (ds) Badger jobs fund bonds credit under s. 71.07 (8s).

SB94, s. 43 Section 43. 71.21 (4) of the statutes is amended to read:

SB94,26,7 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3s), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), and (8r), and (8s) and passed through to partners shall be added to the partnership's income.

SB94, s. 44 Section 44. 71.26 (1) (be) of the statutes, as affected by 2011 Wisconsin Act 10, is amended to read:

SB94,26,14 71.26 (1) (be) Certain authorities. Income of the University of Wisconsin Hospitals and Clinics Authority, of the Health Insurance Risk-Sharing Plan Authority, of the Fox River Navigational System Authority, of the Wisconsin Economic Development Corporation, of the Wisconsin Venture Capital Authority, and of the Wisconsin Aerospace Authority.

SB94, s. 45 Section 45. 71.26 (2) (a) 4. of the statutes, as affected by 2011 Wisconsin Act 3, is amended to read:

SB94,26,23 71.26 (2) (a) 4. Plus the amount of the credit computed under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (8r), (8s), and (9s) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, limited liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g).

SB94, s. 46 Section 46. 71.26 (2) (a) 4c. of the statutes is created to read:

SB94,27,2 71.26 (2) (a) 4c. Plus the amount of credits received from another person under ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e).

SB94, s. 47 Section 47. 71.26 (2) (a) 4d. of the statutes is created to read:

SB94,27,6 71.26 (2) (a) 4d. Plus the amount received for the sale or transfer of credits under ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e), including the fair market value of property received.

SB94, s. 48 Section 48. 71.26 (2) (a) 4e. of the statutes is created to read:

SB94,27,9 71.26 (2) (a) 4e. Minus the amount of credits sold or transferred under ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e).

SB94, s. 49 Section 49. 71.28 (8s) of the statutes is created to read:

SB94,27,12 71.28 (8s) Badger jobs fund bonds credit. (a) Definition. In this subsection, "claimant" means a person who files a claim under this subsection.

SB94,27,17 (b) Filing claims. Subject to the limitations provided in this subsection and s. 239.11, for taxable years beginning after December 31, 2016, a claimant who purchases bonds issued under s. 239.11 (2) and who has been awarded a credit under s. 239.14, may claim as a credit against the tax imposed under s. 71.23, up to the amount of the tax, the amount determined under s. 239.14.

SB94,28,2 (c) Limitations. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their purchase of bonds issued under s. 239.11 (2) for which a credit has been awarded under s. 239.14. A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.

SB94,28,8 (d) Carry-forward. 1. If a credit computed under this subsection is not entirely offset against Wisconsin income or franchise taxes otherwise due, the unused balance may be carried forward and credited against Wisconsin income or franchise taxes otherwise due for the following taxable years to the extent not offset by these taxes otherwise due in all intervening years between the year in which the expense was incurred and the year in which the carry-forward credit is claimed.

SB94,28,10 2. The amount of the carry-forward computed under subd. 1. shall be reduced by the amount of any credit transferred under par. (e).

SB94,28,18 (e) Sale of credit. A person who is awarded a credit under s. 239.14, or to whom a credit is transferred as provided under this paragraph, may sell or otherwise transfer the credit to another person who is subject to the tax imposed under s. 71.02, 71.23, or 71.43 if the person notifies the department of revenue and the Wisconsin Venture Capital Authority created under ch. 239 of the transfer and includes with the notification a copy of the transfer documents. No credit may be sold or transferred under this paragraph until 180 days after the date on which the person becomes eligible to claim the credit.

SB94,28,20 (f) Administration. 1. Subsection (4) (e), (g), and (h), as it applies to the credit under sub. (4), applies to the credit under this subsection.

SB94,28,21 2. The department shall promulgate rules to administer this subsection.

SB94, s. 50 Section 50. 71.30 (3) (dn) of the statutes is created to read:

SB94,28,23 71.30 (3) (dn) Badger jobs fund bonds credit under s. 71.28 (8s).

SB94, s. 51 Section 51. 71.34 (1k) (g) of the statutes is amended to read:

SB94,29,4 71.34 (1k) (g) An addition shall be made for credits computed by a tax-option corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy), (3), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), and (8r), and (8s) and passed through to shareholders.

SB94, s. 52 Section 52. 71.45 (2) (a) 10. of the statutes, as affected by 2011 Wisconsin Act 3, is amended to read:

SB94,29,13 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit computed under s. 71.47 (1dd) to (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (8r), (8s), and (9s) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, limited liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g) and the amount of credit computed under s. 71.47 (1), (3), (3t), (4), (4m), and (5).

SB94, s. 53 Section 53. 71.45 (2) (a) 10c. of the statutes is created to read:

SB94,29,16 71.45 (2) (a) 10c. By adding to federal taxable income the amount of credits received from another person under ss. 71.07 (8s) (e), 71.28 (8s) (e), 71.47 (8s) (e).

SB94, s. 54 Section 54. 71.45 (2) (a) 10d. of the statutes is created to read:

SB94,29,20 71.45 (2) (a) 10d. By adding to federal taxable income the amount received for the sale or transfer of credits under ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e), including the fair market value of property received.

SB94, s. 55 Section 55. 71.45 (2) (a) 10e. of the statutes is created to read:

SB94,29,23 71.45 (2) (a) 10e. By subtracting from federal taxable income the amount of credits sold or transferred under ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e).

SB94, s. 56 Section 56. 71.47 (8s) of the statutes is created to read:

SB94,30,2 71.47 (8s) Badger jobs fund bonds credit. (a) Definition. In this subsection, "claimant" means a person who files a claim under this subsection.

SB94,30,7 (b) Filing claims. Subject to the limitations provided in this subsection and s. 239.11, for taxable years beginning after December 31, 2016, a claimant who purchases bonds issued under s. 239.11 (2) and who has been awarded a credit under s. 239.14, may claim as a credit against the tax imposed under s. 71.43, up to the amount of the tax, the amount determined under s. 239.14.

SB94,30,16 (c) Limitations. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their purchase of bonds issued under s. 239.11 (2) for which a credit has been awarded under s. 239.14. A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.

SB94,30,22 (d) Carry-forward. 1. If a credit computed under this subsection is not entirely offset against Wisconsin income or franchise taxes otherwise due, the unused balance may be carried forward and credited against Wisconsin income or franchise taxes otherwise due for the following taxable years to the extent not offset by these taxes otherwise due in all intervening years between the year in which the expense was incurred and the year in which the carry-forward credit is claimed.

SB94,30,24 2. The amount of the carry-forward computed under subd. 1. shall be reduced by the amount of any credit transferred under par. (e).

SB94,31,8 (e) Sale of credit. A person who is awarded a credit under s. 239.14, or to whom a credit is transferred as provided under this paragraph, may sell or otherwise transfer the credit to another person who is subject to the tax imposed under s. 71.02, 71.23, or 71.43 if the person notifies the department of revenue and the Wisconsin Venture Capital Authority created under ch. 239 of the transfer and includes with the notification a copy of the transfer documents. No credit may be sold or transferred under this paragraph until 180 days after the date on which the person becomes eligible to claim the credit.

SB94,31,10 (f) Administration. 1. Section 71.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

SB94,31,11 2. The department shall promulgate rules to administer this subsection.

SB94, s. 57 Section 57. 71.49 (1) (dn) of the statutes is created to read:

SB94,31,13 71.49 (1) (dn) Badger jobs fund bonds credit under s. 71.47 (8s).

SB94, s. 58 Section 58. 73.033 of the statutes is created to read:

SB94,31,20 73.033 Jobs now fund and badger jobs fund investments; withholding tax determinations. (1) (a) The department of revenue, in consultation with the Wisconsin Venture Capital Authority created under ch. 239, shall determine the amount of the withholding taxes under subch. X of ch. 71 paid by each business that receives an investment under s. 239.13 (2) for the year prior to the first year in which each business receives the investment.

SB94,32,3 (b) Each year, for 15 years following the first year in which a business receives an investment under s. 239.13 (2), the department shall credit to the appropriation account under s. 20.195 (1) (g) an amount equal to 50 percent of the increase, if any, in withholding taxes under subch. X of ch. 71 paid by all businesses that receive investments under s. 239.13 (2) over the amount determined for all such businesses under par. (a). The department shall credit the amounts determined under this subsection on a quarterly basis based on its estimate of the total annual increase in the withholding taxes described in this subsection.

SB94,32,8 (2) (a) The department of revenue, in consultation with the Wisconsin Venture Capital Authority created under ch. 239, shall determine the amount of the withholding taxes under subch. X of ch. 71 paid by each business that receives an investment under s. 239.23 (2) for the year prior to the first year in which each business receives the investment.

SB94,32,16 (b) Each year, for 15 years following the first year in which a business receives an investment under s. 239.23 (2), the department shall credit to the appropriation account under s. 20.195 (1) (g) an amount equal to 50 percent of the increase, if any, in withholding taxes under subch. X of ch. 71 paid by all businesses that receive investments under s. 239.23 (2) over the amount determined for all such businesses under par. (a). The department shall credit the amounts determined under this subsection on a quarterly basis based on its estimate of the total annual increase in the withholding taxes described in this subsection.

SB94, s. 59 Section 59. 76.634 of the statutes is created to read:

SB94,32,19 76.634 Credit for jobs now fund investments. (1) Definitions. In this section: