SB148: Bill Text

SB148,137 Section 137. 71.07 (2dy) (c) 1. of the statutes is amended to read:

SB148,50,17 71.07 (2dy) (c) 1. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification under s. 235.301 (2) or s. 238.301 (2), 2013 stats., or s. 560.701 (2), 2009 stats., and a copy of the claimant's notice of eligibility to receive tax benefits under s. 235.303 (3) or s. 238.303 (3), 2013 stats., or s. 560.703 (3), 2009 stats.

SB148,138 Section 138. 71.07 (2dy) (c) 2. of the statutes is amended to read:

SB148,51,2 71.07 (2dy) (c) 2. 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 authorization to claim tax benefits under s. 235.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats. 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.

SB148,139 Section 139. 71.07 (2dy) (d) 2. of the statutes is amended to read:

SB148,51,14 71.07 (2dy) (d) 2. If a claimant's certification is revoked under s. 235.305 or s. 238.305, 2013 stats., or s. 560.705, 2009 stats., or if a claimant becomes ineligible for tax benefits under s. 235.302 or s. 238.302, 2013 stats., or s. 560.702, 2009 stats., the claimant may not claim credits under this subsection for the taxable year that includes the day on which the certification is revoked; the taxable year that includes the day on which the claimant becomes ineligible for tax benefits; or succeeding taxable years and the claimant may not carry over unused credits from previous years to offset the tax imposed under s. 71.02 or 71.08 for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the claimant becomes ineligible for tax benefits; or succeeding taxable years.

SB148,140 Section 140. 71.07 (3g) (a) (intro.) of the statutes is amended to read:

SB148,51,21 71.07 (3g) (a) (intro.) Subject to the limitations under this subsection and ss. 73.03 (35m) and 235.23 and s. 238.23, 2013 stats., and s. 560.96, 2009 stats., a business that is certified under s. 235.23 (3) or s. 238.23 (3), 2013 stats., or s. 560.96 (3), 2009 stats., may claim as a credit against the taxes imposed under s. 71.02 an amount equal to the sum of the following, as established under s. 235.23 (3) (c) or s. 238.23 (3) (c), 2013 stats., or s. 560.96 (3) (c), 2009 stats.:

SB148,141 Section 141. 71.07 (3g) (b) of the statutes is amended to read:

SB148,51,25 71.07 (3g) (b) The department of revenue shall notify the department of commerce or the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority of all claims under this subsection.

SB148,142 Section 142. 71.07 (3g) (e) 2. of the statutes is amended to read:

SB148,52,5 71.07 (3g) (e) 2. The investments that relate to the amount described under par. (a) 2. for which a claimant makes a claim under this subsection must be retained for use in the technology zone for the period during which the claimant's business is certified under s. 235.23 (3) or s. 238.23 (3), 2013 stats., or s. 560.96 (3), 2009 stats.

SB148,143 Section 143. 71.07 (3g) (f) 1. of the statutes is amended to read:

SB148,52,10 71.07 (3g) (f) 1. A copy of the verification that the claimant's business is certified under s. 235.23 (3) or s. 238.23 (3), 2013 stats., or s. 560.96 (3), 2009 stats., and that the business has entered into an agreement under s. 235.23 (3) (d) or s. 238.23 (3) (d), 2013 stats., or s. 560.96 (3) (d), 2009 stats.

SB148,144 Section 144. 71.07 (3g) (f) 2. of the statutes is amended to read:

SB148,52,15 71.07 (3g) (f) 2. A statement from the department of commerce or the Wisconsin Economic Development Corporation or the Forward Wisconsin Development Authority verifying the purchase price of the investment described under par. (a) 2. and verifying that the investment fulfills the requirement under par. (e) 2.

SB148,145 Section 145. 71.07 (3q) (a) 1. of the statutes is amended to read:

SB148,52,18 71.07 (3q) (a) 1. "Claimant" means a person certified to receive tax benefits under s. 235.16 (2) or s. 238.16 (2), 2013 stats., or s. 560.2055 (2), 2009 stats.

SB148,146 Section 146. 71.07 (3q) (a) 2. of the statutes is amended to read:

SB148,52,25 71.07 (3q) (a) 2. "Eligible employee" means, for taxable years beginning before January 1, 2011, an eligible employee under s. 560.2055 (1) (b), 2009 stats., who satisfies the wage requirements under s. 560.2055 (3) (a) or (b), 2009 stats., or, for taxable years beginning after December 31, 2010, an eligible employee under s. 238.16 235.16 (1) (b) who satisfies the wage requirements under s. 238.16 235.16 (3) (a) or (b).

SB148,147 Section 147. 71.07 (3q) (b) (intro.) of the statutes is amended to read:

SB148,53,5 71.07 (3q) (b) Filing claims. (intro.) Subject to the limitations provided in this subsection and s. 235.16 or s. 238.16, 2013 stats., or s. 560.2055, 2009 stats., for taxable years beginning after December 31, 2009, a claimant may claim as a credit against the taxes imposed under ss. 71.02 and 71.08 any of the following:

SB148,148 Section 148. 71.07 (3q) (b) 1. of the statutes is amended to read:

SB148,53,11 71.07 (3q) (b) 1. The amount of wages that the claimant paid to an eligible employee in the taxable year, not to exceed 10 percent of such wages, as determined by the Forward Wisconsin Development Authority under s. 235.16 or the Wisconsin Economic Development Corporation under s. 238.16, 2013 stats., or the department of commerce under s. 560.2055, 2009 stats.

SB148,149 Section 149. 71.07 (3q) (b) 2. of the statutes is amended to read:

SB148,53,16 71.07 (3q) (b) 2. The amount of the costs incurred by the claimant in the taxable year, as determined under s. 235.16 or s. 238.16, 2013 stats., or s. 560.2055, 2009 stats., to undertake the training activities described under s. 235.16 (3) (c) or s. 238.16 (3) (c), 2013 stats., or s. 560.2055 (3) (c), 2009 stats.

SB148,150 Section 150. 71.07 (3q) (c) 2. of the statutes is amended to read:

SB148,53,21 71.07 (3q) (c) 2. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification for tax benefits under s. 235.16 (2) or s. 238.16 (2) , 2013 stats., or s. 560.2055 (2), 2009 stats.

SB148,151 Section 151. 71.07 (3q) (c) 3. of the statutes is amended to read:

SB148,54,2 71.07 (3q) (c) 3. The maximum amount of credits that may be awarded under this subsection and ss. 71.28 (3q) and 71.47 (3q) for the period beginning on January 1, 2010, and ending on June 30, 2013, is $14,500,000, not including the amount of any credits reallocated under s. 238.15 (3) (d), 2013 stats., or s. 560.205 (3) (d), 2009 stats.

SB148,152 Section 152. 71.07 (3w) (a) 2. of the statutes is amended to read:

SB148,54,6 71.07 (3w) (a) 2. "Claimant" means a person who is certified to claim tax benefits under s. 235.399 (5) or s. 238.399 (5), 2013 stats., or s. 560.799 (5), 2009 stats., and who files a claim under this subsection.

SB148,153 Section 153. 71.07 (3w) (a) 3. of the statutes is amended to read:

SB148,54,10 71.07 (3w) (a) 3. "Full-time employee" means a full-time employee, as defined in s. 235.399 (1) (am) or s. 238.399 (1) (am), 2013 stats., or s. 560.799 (1) (am), 2009 stats.

SB148,154 Section 154. 71.07 (3w) (a) 4. of the statutes is amended to read:

SB148,54,13 71.07 (3w) (a) 4. "Enterprise zone" means a zone designated under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats.

SB148,155 Section 155. 71.07 (3w) (a) 5d. of the statutes is amended to read:

SB148,54,17 71.07 (3w) (a) 5d. "Tier I county or municipality" means a tier I county or municipality, as determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats.

SB148,156 Section 156. 71.07 (3w) (a) 5e. of the statutes is amended to read:

SB148,54,21 71.07 (3w) (a) 5e. "Tier II county or municipality" means a tier II county or municipality, as determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats.

SB148,157 Section 157. 71.07 (3w) (b) (intro.) of the statutes is amended to read:

SB148,55,2 71.07 (3w) (b) Filing claims; payroll. (intro.) Subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 an amount calculated as follows:

SB148,158 Section 158. 71.07 (3w) (b) 5. of the statutes is amended to read:

SB148,55,6 71.07 (3w) (b) 5. Multiply the amount determined under subd. 4. by the percentage determined by under s. 235.399 or s. 238.399 , 2013 stats., or s. 560.799, 2009 stats., not to exceed 7 percent.

SB148,159 Section 159. 71.07 (3w) (bm) 1. of the statutes is amended to read:

SB148,55,18 71.07 (3w) (bm) 1. In addition to the credits under par. (b) and subds. 2., 3., and 4., and subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 an amount equal to a percentage, as determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., not to exceed 100 percent, of the amount the claimant paid in the taxable year to upgrade or improve the job-related skills of any of the claimant's full-time employees, to train any of the claimant's full-time employees on the use of job-related new technologies, or to provide job-related training to any full-time employee whose employment with the claimant represents the employee's first full-time job. This subdivision does not apply to employees who do not work in an enterprise zone.

SB148,160 Section 160. 71.07 (3w) (bm) 2. of the statutes is amended to read:

SB148,56,9 71.07 (3w) (bm) 2. In addition to the credits under par. (b) and subds. 1., 3., and 4., and subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 an amount equal to the percentage, as determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., not to exceed 7 percent, of the claimant's zone payroll paid in the taxable year to all of the claimant's full-time employees whose annual wages are greater than the amount determined by multiplying 2,080 by 150 percent of the federal minimum wage in a tier I county or municipality, not including the wages paid to the employees determined under par. (b) 1., or greater than $30,000 in a tier II county or municipality, not including the wages paid to the employees determined under par. (b) 1., and who the claimant employed in the enterprise zone in the taxable year, if the total number of such employees is equal to or greater than the total number of such employees in the base year. A claimant may claim a credit under this subdivision for no more than 5 consecutive taxable years.

SB148,161 Section 161. 71.07 (3w) (bm) 3. of the statutes is amended to read:

SB148,56,17 71.07 (3w) (bm) 3. In addition to the credits under par. (b) and subds. 1., 2., and 4., and subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., for taxable years beginning after December 31, 2008, a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 up to 10 percent of the claimant's significant capital expenditures, as determined under s. 235.399 (5m) or s. 238.399 (5m), 2013 stats., or s. 560.799 (5m), 2009 stats.

SB148,162 Section 162. 71.07 (3w) (bm) 4. of the statutes is amended to read:

SB148,57,3 71.07 (3w) (bm) 4. In addition to the credits under par. (b) and subds. 1., 2., and 3., and subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., for taxable years beginning after December 31, 2009, a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08, up to 1 percent of the amount that the claimant paid in the taxable year to purchase tangible personal property, items, property, or goods under s. 77.52 (1) (b), (c), or (d), or services from Wisconsin vendors, as determined under s. 235.399 (5) (e) or s. 238.399 (5) (e), 2013 stats., or s. 560.799 (5) (e), 2009 stats., except that the claimant may not claim the credit under this subdivision and subd. 3. for the same expenditures.

SB148,163 Section 163. 71.07 (3w) (c) 3. of the statutes is amended to read:

SB148,57,8 71.07 (3w) (c) 3. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification for tax benefits under s. 235.399 (5) or (5m) or s. 238.399 (5) or (5m), 2013 stats., or s. 560.799 (5) or (5m), 2009 stats.

SB148,164 Section 164. 71.07 (3w) (d) of the statutes is amended to read:

SB148,57,15 71.07 (3w) (d) Administration. Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. Claimants shall include with their returns a copy of their certification for tax benefits, and a copy of the verification of their expenses, from the department of commerce or the Wisconsin Economic Development Corporation or the Forward Wisconsin Development Authority.

SB148,165 Section 165. 71.07 (5b) (a) 2. of the statutes is amended to read:

SB148,57,18 71.07 (5b) (a) 2. "Fund manager" means an investment fund manager certified under s. 235.15 (2) or s. 238.15 (2), 2013 stats.,   or s. 560.205 (2), 2009 stats.

SB148,166 Section 166. 71.07 (5b) (b) 1. of the statutes is amended to read:

SB148,58,2 71.07 (5b) (b) 1. For taxable years beginning after December 31, 2004, subject to the limitations provided under this subsection and s. 235.15 or s. 238.15, 2013 stats., or s. 560.205, 2009 stats., and except as provided in subd. 2., a claimant may claim as a credit against the tax imposed under ss. 71.02 and 71.08, up to the amount of those taxes, 25 percent of the claimant's investment paid to a fund manager that the fund manager invests in a business certified under s. 235.15 or s. 238.15 (1), 2013 stats., or s. 560.205 (1), 2009 stats.

SB148,167 Section 167. 71.07 (5b) (b) 2. of the statutes is amended to read:

SB148,58,12 71.07 (5b) (b) 2. In the case of a partnership, limited liability company, or tax-option corporation, the computation of the 25 percent limitation under subd. 1. shall be determined at the entity level rather than the claimant level and may be allocated among the claimants who make investments in the manner set forth in the entity's organizational documents. The entity shall provide to the department of revenue and to the department of commerce or the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority the names and tax identification numbers of the claimants, the amounts of the credits allocated to the claimants, and the computation of the allocations.

SB148,168 Section 168. 71.07 (5b) (d) 3. of the statutes is amended to read:

SB148,58,18 71.07 (5b) (d) 3. Except as provided under s. 238.15 235.15 (3) (d) (intro.), for investments made after December 31, 2007, if an investment for which a claimant claims a credit under par. (b) is held by the claimant for less than 3 years, the claimant shall pay to the department, in the manner prescribed by the department, the amount of the credit that the claimant received related to the investment.

SB148,169 Section 169. 71.07 (5d) (a) 1. (intro.) of the statutes is amended to read:

SB148,58,22 71.07 (5d) (a) 1. (intro.) "Bona fide angel investment" means a purchase of an equity interest, or any other expenditure, as determined by rule under s. 235.15 or s. 238.15, 2013 stats., or s. 560.205, 2009 stats., that is made by any of the following:

SB148,170 Section 170. 71.07 (5d) (a) 2m. of the statutes is amended to read:

SB148,59,2 71.07 (5d) (a) 2m. "Person" means a partnership or limited liability company that is a nonoperating entity, as determined by the department of commerce or the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority, a natural person, or fiduciary.

SB148,171 Section 171. 71.07 (5d) (a) 3. of the statutes is amended to read:

SB148,59,5 71.07 (5d) (a) 3. "Qualified new business venture" means a business that is certified under s. 235.15 (1) or s. 238.15 (1), 2013 stats., or s. 560.205 (1), 2009 stats.

SB148,172 Section 172. 71.07 (5d) (b) (intro.) of the statutes is amended to read:

SB148,59,10 71.07 (5d) (b) Filing claims. (intro.) Subject to the limitations provided in this subsection and in s. 235.15 or s. 238.15, 2013 stats., or s. 560.205, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08, up to the amount of those taxes, the following:

SB148,173 Section 173. 71.07 (5d) (b) 1. of the statutes is amended to read:

SB148,59,17 71.07 (5d) (b) 1. For taxable years beginning before January 1, 2008, in each taxable year for 2 consecutive years, beginning with the taxable year as certified by the department of commerce or, the Wisconsin Economic Development Corporation, or the Forward Wisconsin Development Authority, an amount equal to 12.5 percent of the claimant's bona fide angel investment made directly in a qualified new business venture.

SB148,174 Section 174. 71.07 (5d) (b) 2. of the statutes is amended to read:

SB148,59,23 71.07 (5d) (b) 2. For taxable years beginning after December 31, 2007, for the taxable year certified by the department of commerce or , the Wisconsin Economic Development Corporation, or the Forward Wisconsin Development Authority, an amount equal to 25 percent of the claimant's bona fide angel investment made directly in a qualified new business venture.

SB148,175 Section 175. 71.07 (5d) (c) 2. of the statutes is amended to read:

SB148,60,5 71.07 (5d) (c) 2. For taxable years beginning before January 1, 2008, the maximum amount of a claimant's investment that may be used as the basis for a credit under this subsection is $2,000,000 for each investment made directly in a business certified under s. 235.15 (1) or s. 238.15 (1), 2013 stats., or s. 560.205 (1), 2009 stats.

SB148,176 Section 176. 71.07 (5d) (d) 1. of the statutes is amended to read:

SB148,60,11 71.07 (5d) (d) 1. Except as provided under s. 238.15 235.15 (3) (d) (intro.), for investments made after December 31, 2007, if an investment for which a claimant claims a credit under par. (b) is held by the claimant for less than 3 years, the claimant shall pay to the department, in the manner prescribed by the department, the amount of the credit that the claimant received related to the investment.

SB148,177 Section 177. 71.07 (9m) (c) (intro.) of the statutes is amended to read:

SB148,60,17 71.07 (9m) (c) (intro.) No person may claim the credit under par. (a) 2m. unless the claimant includes with the claimant's return a copy of the claimant's certification under s. 238.17 235.17. For certification purposes under s. 238.17 235.17, the claimant shall provide to the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority all of the following:

SB148,178 Section 178. 71.26 (1) (be) of the statutes is amended to read:

SB148,60,22 71.26 (1) (be) Certain authorities. Income of the University of Wisconsin Hospitals and Clinics Authority, of the Fox River Navigational System Authority, of the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority, and of the Wisconsin Aerospace Authority.

SB148,179 Section 179. 71.26 (1m) (e) of the statutes is amended to read:

SB148,61,3 71.26 (1m) (e) Those issued under s. 234.65 , 2013 stats., to fund an economic development loan to finance construction, renovation or development of property that would be exempt under s. 70.11 (36).

SB148,180 Section 180. 71.26 (1m) (em) of the statutes is amended to read:

SB148,61,8 71.26 (1m) (em) Those issued under s. 234.08, 2013 stats., or s. 234.61, 2013 stats., on or after January 1, 2004, or the Forward Wisconsin Development Authority under s. 235.02 or 235.61, if the obligations are issued to fund multifamily affordable housing projects or elderly housing projects.

SB148,181 Section 181. 71.26 (1m) (k) 1. of the statutes is amended to read: