AB147,4,1817 d. The costs were not incurred before the state historical society approved the
18proposed preservation or rehabilitation plan.
AB147,6 19Section 6. 71.07 (9m) (h) of the statutes is created to read:
AB147,4,2320 71.07 (9m) (h) A person who is eligible to claim the credit under par. (a) 2. or
213. may sell or otherwise transfer the credit to another person who is subject to the
22taxes imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department
23of the transfer and submits with the notification a copy of the transfer documents.
AB147,7 24Section 7. 71.28 (6) (a) of the statutes is renumbered 71.28 (6) (a) 1. and
25amended to read:
AB147,5,8
171.28 (6) (a) 1. Any For taxable years beginning before January 1, 2013, any
2person may credit against taxes otherwise due under this chapter, up to the amount
3of those taxes, an amount equal to 5% of the costs of qualified rehabilitation
4expenditures, as defined in section 47 (c) (2) of the internal revenue code, for certified
5historic structures on property located in this state if the physical work of
6construction or destruction in preparation for construction begins after December
731, 1988, and the rehabilitated property is placed in service after June 30, 1989, and
8before January 1, 2013
.
AB147,8 9Section 8. 71.28 (6) (a) 2. of the statutes is created to read:
AB147,5,1710 71.28 (6) (a) 2. For taxable years beginning after December 31, 2012, and before
11January 1, 2023, any person may claim as a credit against taxes otherwise due under
12s. 71.23, up to the amount of those taxes, an amount equal to 20 percent of the costs
13of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal
14Revenue Code, for certified historic structures on property located in this state, if the
15cost of the person's qualified rehabilitation expenditures is at least $50,000 and the
16rehabilitated property is placed in service after December 31, 2012, and before
17January 1, 2023.
AB147,9 18Section 9. 71.28 (6) (a) 3. of the statutes is created to read:
AB147,6,219 71.28 (6) (a) 3. For taxable years beginning after December 31, 2012, and before
20January 1, 2023, any person may claim as a credit against taxes otherwise due under
21s. 71.23, up to the amount of those taxes, an amount equal to 5 percent of the costs
22of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal
23Revenue Code, for qualified rehabilitated buildings, as defined in section 47 (c) (1)
24of the Internal Revenue Code, on property located in this state, if the cost of the
25person's qualified rehabilitation expenditures is at least $50,000 and the

1rehabilitated property is placed in service after December 31, 2012, and before
2January 1, 2023.
AB147,10 3Section 10. 71.28 (6) (c) of the statutes is renumbered 71.28 (6) (c) (intro.) and
4amended to read:
AB147,6,75 71.28 (6) (c) (intro.) No person may claim the credit under this subsection
6unless the claimant includes with the claimant's return evidence any of the
7following:
AB147,6,12 81. Evidence that the rehabilitation was recommended by the state historic
9preservation officer for approval by the secretary of the interior under 36 CFR 67.6
10before the physical work of construction, or destruction in preparation for
11construction, began and that the rehabilitation was approved by the secretary of the
12interior under 36 CFR 67.6.
AB147,11 13Section 11. 71.28 (6) (c) 2. of the statutes is created to read:
AB147,6,1514 71.28 (6) (c) 2. Evidence that the taxpayer obtained written certification from
15the state historic preservation officer that:
AB147,6,2416 a. The property is listed on the national register of historic places in Wisconsin
17or the state register of historic places, or is determined by the state historical society
18to be eligible for listing on the national register of historic places in Wisconsin or the
19state register of historic places, or is located in a historic district that is listed in the
20national register of historic places in Wisconsin or the state register of historic places
21and is certified by the state historic preservation officer as being of historic
22significance to the district, or is an outbuilding of an otherwise eligible property
23certified by the state historic preservation officer as contributing to the historic
24significance of the property.
AB147,7,3
1b. The proposed preservation or rehabilitation plan complies with standards
2promulgated under s. 44.02 (24) and the completed preservation or rehabilitation
3substantially complies with the proposed plan.
AB147,7,54 c. The costs are not incurred to acquire any building or interest in a building
5or to enlarge an existing building.
AB147,7,76 d. The costs were not incurred before the state historical society approved the
7proposed preservation or rehabilitation plan.
AB147,12 8Section 12. 71.28 (6) (h) of the statutes is created to read:
AB147,7,129 71.28 (6) (h) A person who is eligible to claim the credit under par. (a) 2. or 3.
10may sell or otherwise transfer the credit to another person who is subject to the taxes
11imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
12transfer and submits with the notification a copy of the transfer documents.
AB147,13 13Section 13. 71.47 (6) (a) of the statutes is renumbered 71.47 (6) (a) 1. and
14amended to read:
AB147,7,2215 71.47 (6) (a) 1. Any For taxable years beginning before January 1, 2013, any
16person may credit against taxes otherwise due under this chapter, up to the amount
17of those taxes, an amount equal to 5% of the costs of qualified rehabilitation
18expenditures, as defined in section 47 (c) (2) of the internal revenue code, for certified
19historic structures on property located in this state if the physical work of
20construction or destruction in preparation for construction begins after December
2131, 1988, and the rehabilitated property is placed in service after June 30, 1989, and
22before January 1, 2013
.
AB147,14 23Section 14. 71.47 (6) (a) 2. of the statutes is created to read:
AB147,8,624 71.47 (6) (a) 2. For taxable years beginning after December 31, 2012, and before
25January 1, 2023, any person may claim as a credit against taxes otherwise due under

1s. 71.23, up to the amount of those taxes, an amount equal to 20 percent of the costs
2of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal
3Revenue Code, for certified historic structures on property located in this state, if the
4cost of the person's qualified rehabilitation expenditures is at least $50,000 and the
5rehabilitated property is placed in service after December 31, 2012, and before
6January 1, 2023.
AB147,15 7Section 15. 71.47 (6) (a) 3. of the statutes is created to read:
AB147,8,168 71.47 (6) (a) 3. For taxable years beginning after December 31, 2012, and before
9January 1, 2023, any person may claim as a credit against taxes otherwise due under
10s. 71.43, up to the amount of those taxes, an amount equal to 5 percent of the costs
11of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal
12Revenue Code, for qualified rehabilitated buildings, as defined in section 47 (c) (1)
13of the Internal Revenue Code, on property located in this state, if the cost of the
14person's qualified rehabilitation expenditures is at least $50,000 and the
15rehabilitated property is placed in service after December 31, 2012, and before
16January 1, 2023.
AB147,16 17Section 16. 71.47 (6) (c) of the statutes is renumbered 71.47 (6) (c) (intro.) and
18amended to read:
AB147,8,2119 71.47 (6) (c) (intro.) No person may claim the credit under this subsection
20unless the claimant includes with the claimant's return evidence any of the
21following:
AB147,9,2 221. Evidence that the rehabilitation was recommended by the state historic
23preservation officer for approval by the secretary of the interior under 36 CFR 67.6
24before the physical work of construction, or destruction in preparation for

1construction, began and that the rehabilitation was approved by the secretary of the
2interior under 36 CFR 67.6.
AB147,17 3Section 17. 71.47 (6) (c) 2. of the statutes is created to read:
AB147,9,54 71.47 (6) (c) 2. Evidence that the taxpayer obtained written certification from
5the state historic preservation officer that:
AB147,9,146 a. The property is listed on the national register of historic places in Wisconsin
7or the state register of historic places, or is determined by the state historical society
8to be eligible for listing on the national register of historic places in Wisconsin or the
9state register of historic places, or is located in a historic district that is listed in the
10national register of historic places in Wisconsin or the state register of historic places
11and is certified by the state historic preservation officer as being of historic
12significance to the district, or is an outbuilding of an otherwise eligible property
13certified by the state historic preservation officer as contributing to the historic
14significance of the property.
AB147,9,1715 b. The proposed preservation or rehabilitation plan complies with standards
16promulgated under s. 44.02 (24) and the completed preservation or rehabilitation
17substantially complies with the proposed plan.
AB147,9,1918 c. The costs are not incurred to acquire any building or interest in a building
19or to enlarge an existing building.
AB147,9,2120 d. The costs were not incurred before the state historical society approved the
21proposed preservation or rehabilitation plan.
AB147,18 22Section 18. 71.47 (6) (h) of the statutes is created to read:
AB147,9,2423 71.47 (6) (h) A person who is eligible to claim the credit under par. (a) 2. or 3.
24may sell or otherwise transfer the credit to another person who is subject to the taxes

1imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
2transfer and submits with the notification a copy of the transfer documents.
AB147,19 3Section 19. Nonstatutory provisions.
AB147,10,174 (1) Joint finance review. No later than June 30, 2018, the department of
5revenue, in conjunction with the state historical society, shall submit to the joint
6committee on finance a report describing the economic impact of the tax credits
7under sections 71.07 (9m) (a) 2. and 3., 71.28 (6) (a) 2. and 3., and 71.47 (6) (a) 2. and
83. of the statutes, as affected by this act, and shall make a recommendation to the
9committee as to whether the tax credits should continue. The report shall also
10specify the number and type of claimants who have claimed the credits under
11sections 71.07 (9m) (a) 2. and 3., 71.28 (6) (a) 2. and 3., and 71.47 (6) (a) 2. and 3. of
12the statutes, as affected by this act, and the commercial purposes for which the
13rehabilitated properties are used. Within 14 working days after the submittal date
14of the report, the cochairpersons of the committee shall notify the department of
15revenue and the state historical society that the committee has scheduled a meeting
16for the purpose of reviewing the recommendation. The recommendation may be
17implemented only upon approval of the committee.
AB147,10,1818 (End)
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