SB468: Bill Text

SB468,140 Section 140. 71.07 (3y) (b) (intro.) of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,50,4 71.07 (3y) (b) Filing claims. (intro.) Subject to the limitations provided in this subsection and s. 238.308 555.308, for taxable years beginning after December 31, 2015, a claimant may claim as a credit against the tax imposed under ss. 71.02 and 71.08 all of the following:

SB468,141 Section 141. 71.07 (3y) (b) 1. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,50,10 71.07 (3y) (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 Wisconsin Economic Development Corporation department of economic opportunity under s. 238.308 555.308.

SB468,142 Section 142. 71.07 (3y) (b) 2. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,50,17 71.07 (3y) (b) 2. In addition to any amount claimed for an eligible employee under subd. 1., the amount of wages that the claimant paid to the eligible employee in the taxable year, not to exceed 5 percent of such wages, if the eligible employee is employed in an economically distressed area, as determined by the Wisconsin Economic Development Corporation department of economic opportunity.

SB468,143 Section 143. 71.07 (3y) (b) 3. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,50,23 71.07 (3y) (b) 3. The amount of training costs that the claimant incurred under s. 238.308 555.308 (4) (a) 3., not to exceed 50 percent of such costs, as determined by the Wisconsin Economic Development Corporation department of economic opportunity.

SB468,144 Section 144. 71.07 (3y) (b) 4. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,51,5 71.07 (3y) (b) 4. The amount of the personal property investment, not to exceed 3 percent of such investment, and the amount of the real property investment, not to exceed 5 percent of such investment, in a capital investment project that satisfies s. 238.308 555.308 (4) (a) 4., as determined by the Wisconsin Economic Development Corporation department of economic opportunity.

SB468,145 Section 145. 71.07 (3y) (b) 5. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,51,15 71.07 (3y) (b) 5. An amount, as determined by the Wisconsin Economic Development Corporation department of economic opportunity under s. 238.308 555.308 (4) (a) 5., equal to a percentage of the amount of wages that the claimant paid to an eligible employee in the taxable year if the position in which the eligible employee was employed was created or retained in connection with the claimant's location or retention of the claimant's corporate headquarters in Wisconsin and the job duties associated with the eligible employee's position involve the performance of corporate headquarters functions.

SB468,146 Section 146. 71.07 (3y) (c) 2. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,51,20 71.07 (3y) (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. 238.308 555.308.

SB468,147 Section 147. 71.07 (5b) (a) 2. of the statutes is amended to read:

SB468,51,23 71.07 (5b) (a) 2. "Fund manager" means an investment fund manager certified under s. 555.15 (2) or s. 238.15 (2), 2013 stats., or s. 560.205 (2), 2009 stats.

SB468,148 Section 148. 71.07 (5b) (b) 1. of the statutes is amended to read:

SB468,52,7 71.07 (5b) (b) 1. For taxable years beginning after December 31, 2004, subject to the limitations provided under this subsection and s. 555.15 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. 555.15 (1) or s. 238.15 (1), 2013 stats., or s. 560.205 (1), 2009 stats.

SB468,149 Section 149. 71.07 (5b) (b) 2. of the statutes is amended to read:

SB468,52,17 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 department of economic opportunity the names and tax identification numbers of the claimants, the amounts of the credits allocated to the claimants, and the computation of the allocations.

SB468,150 Section 150. 71.07 (5b) (d) 3. of the statutes is amended to read:

SB468,52,23 71.07 (5b) (d) 3. Except as provided under s. 238.15 555.15 (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.

SB468,151 Section 151. 71.07 (5d) (a) 1. (intro.) of the statutes is amended to read:

SB468,53,3 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. 555.15 or s. 238.15, 2013 stats., or s. 560.205, 2009 stats., that is made by any of the following:

SB468,152 Section 152. 71.07 (5d) (a) 2m. of the statutes is amended to read:

SB468,53,8 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 department of economic opportunity, a natural person, or fiduciary.

SB468,153 Section 153. 71.07 (5d) (a) 3. of the statutes is amended to read:

SB468,53,11 71.07 (5d) (a) 3. "Qualified new business venture" means a business that is certified under s. 555.15 (1) or s. 238.15 (1), 2013 stats., or s. 560.205 (1), 2009 stats.

SB468,154 Section 154. 71.07 (5d) (b) (intro.) of the statutes is amended to read:

SB468,53,16 71.07 (5d) (b) Filing claims. (intro.) Subject to the limitations provided in this subsection and in s. 555.15 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:

SB468,155 Section 155. 71.07 (5d) (b) 1. of the statutes is amended to read:

SB468,53,23 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 department of economic opportunity, an amount equal to 12.5 percent of the claimant's bona fide angel investment made directly in a qualified new business venture.

SB468,156 Section 156. 71.07 (5d) (b) 2. of the statutes is amended to read:

SB468,54,5 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 department of economic opportunity, an amount equal to 25 percent of the claimant's bona fide angel investment made directly in a qualified new business venture.

SB468,157 Section 157. 71.07 (5d) (c) 2. of the statutes is amended to read:

SB468,54,11 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. 555.15 (1) or s. 238.15 (1), 2013 stats., or s. 560.205 (1), 2009 stats.

SB468,158 Section 158. 71.07 (5d) (d) 1. of the statutes is amended to read:

SB468,54,17 71.07 (5d) (d) 1. Except as provided under s. 238.15 555.15 (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.

SB468,159 Section 159. 71.07 (9m) (c) (intro.) of the statutes is amended to read:

SB468,54,23 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. 238.17 555.17. For certification purposes under s. 238.17 555.17, the claimant shall provide to the Wisconsin Economic Development Corporation department of economic opportunity all of the following:

SB468,160 Section 160. 71.26 (1) (be) of the statutes is amended to read:

SB468,55,4 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, and of the Wisconsin Aerospace Authority.

SB468,161 Section 161. 71.28 (1dm) (a) 1. of the statutes is amended to read:

SB468,55,10 71.28 (1dm) (a) 1. "Certified" means entitled under s. 555.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 555.395 (5), 555.398 (3), or 555.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats.

SB468,162 Section 162. 71.28 (1dm) (a) 3. of the statutes is amended to read:

SB468,55,16 71.28 (1dm) (a) 3. "Development zone" means a development opportunity zone under s. 555.395 (1) (e) and (f) or 555.398 or s. 238.395 (1) (e) and (f), 2013 stats., or s. 238.398, 2013 stats., or s. 560.795 (1) (e) and (f), 2009 stats., or s. 560.798, 2009 stats., or an airport development zone under s. 555.3995 or s. 238.3995, 2013 stats., or s. 560.7995, 2009 stats.

SB468,163 Section 163. 71.28 (1dm) (a) 4. of the statutes is amended to read:

SB468,56,2 71.28 (1dm) (a) 4. "Previously owned property" means real property that the claimant or a related person owned during the 2 years prior to the department of commerce or the Wisconsin Economic Development Corporation or the department of economic opportunity designating the place where the property is located as a development zone and for which the claimant may not deduct a loss from the sale of the property to, or an exchange of the property with, the related person under section 267 of the Internal Revenue Code, except that section 267 (b) of the Internal Revenue Code is modified so that if the claimant owns any part of the property, rather than 50% ownership, the claimant is subject to section 267 (a) (1) of the Internal Revenue Code for purposes of this subsection.

SB468,164 Section 164. 71.28 (1dm) (f) 1. of the statutes is amended to read:

SB468,56,8 71.28 (1dm) (f) 1. A copy of the verification that the claimant may claim tax benefits under s. 555.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., or is certified under s. 555.395 (5), 555.398 (3), or 555.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (3) , 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats.

SB468,165 Section 165. 71.28 (1dm) (f) 2. of the statutes is amended to read:

SB468,56,13 71.28 (1dm) (f) 2. A statement from the department of commerce or the Wisconsin Economic Development Corporation or the department of economic opportunity verifying the purchase price of the investment and verifying that the investment fulfills the requirements under par. (b).

SB468,166 Section 166. 71.28 (1dm) (i) of the statutes is amended to read:

SB468,57,4 71.28 (1dm) (i) Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, that credit shall be determined on the basis of their economic activity, not that of their shareholders, partners, or members. The corporation, partnership, or limited liability company shall compute the amount of credit that may be claimed by each of its shareholders, partners, or members and provide that information to its shareholders, partners, or members. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit based on the partnership's, company's, or corporation's activities in proportion to their ownership interest and may offset it against the tax attributable to their income from the partnership's, company's, or corporation's business operations in the development zone; except that partners, members, and shareholders in a development zone under s. 555.395 (1) (e) or s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., may offset the credit against the amount of the tax attributable to their income.

SB468,167 Section 167. 71.28 (1dm) (j) of the statutes is amended to read:

SB468,57,18 71.28 (1dm) (j) If a person who is entitled under s. 555.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits becomes ineligible for such tax benefits, or if a person's certification under s. 555.395 (5), 555.398 (3), or 555.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., is revoked, that person may claim no credits under this subsection for the taxable year that includes the day on which the person becomes ineligible for tax benefits, the taxable year that includes the day on which the certification is revoked, or succeeding taxable years, and that person may carry over no unused credits from previous years to offset tax under this chapter for the taxable year that includes the day on which the person becomes ineligible for tax benefits, the taxable year that includes the day on which the certification is revoked, or succeeding taxable years.

SB468,168 Section 168. 71.28 (1dm) (k) of the statutes is amended to read:

SB468,58,3 71.28 (1dm) (k) If a person who is entitled under s. 555.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 555.395 (5), 555.398 (3), or 555.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., ceases business operations in the development zone during any of the taxable years that that zone exists, that person may not carry over to any taxable year following the year during which operations cease any unused credits from the taxable year during which operations cease or from previous taxable years.

SB468,169 Section 169. 71.28 (1dx) (a) 2. of the statutes is amended to read:

SB468,58,11 71.28 (1dx) (a) 2. "Development zone" means a development zone under s. 555.30 or s. 238.30, 2013 stats., or s. 560.70, 2009 stats., a development opportunity zone under s. 555.395 or s. 238.395, 2013 stats., or s. 560.795, 2009 stats., an enterprise development zone under s. 555.397 or s. 238.397, 2013 stats., or s. 560.797, 2009 stats., an agricultural development zone under s. 555.398 or s. 238.398, 2013 stats., or s. 560.798, 2009 stats., or an airport development zone under s. 555.3995 or s. 238.3995, 2013 stats., or s. 560.7995, 2009 stats.

SB468,170 Section 170. 71.28 (1dx) (a) 4. of the statutes is amended to read:

SB468,58,14 71.28 (1dx) (a) 4. "Full-time job" has the meaning given in s. 238.30 555.30 (2m).

SB468,171 Section 171. 71.28 (1dx) (b) (intro.) of the statutes is amended to read:

SB468,58,24 71.28 (1dx) (b) Credit. (intro.) Except as provided in pars. (be) and (bg) and in s. 73.03 (35), and subject to s. 555.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., for any taxable year for which the person is entitled under s. 555.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., to claim tax benefits or certified under s. 555.365 (3), 555.397 (4), 555.398 (3), or 555.3995 (4) or s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., any person may claim as a credit against the taxes otherwise due under this chapter the following amounts:

SB468,172 Section 172. 71.28 (1dx) (b) 2. of the statutes is amended to read:

SB468,59,5 71.28 (1dx) (b) 2. The amount determined by multiplying the amount determined under s. 555.385 (1) (b) or s. 238.385 (1) (b), 2013 stats., or s. 560.785 (1) (b), 2009 stats., by the number of full-time jobs created in a development zone and filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB468,173 Section 173. 71.28 (1dx) (b) 3. of the statutes is amended to read:

SB468,59,11 71.28 (1dx) (b) 3. The amount determined by multiplying the amount determined under s. 555.385 (1) (c) or s. 238.385 (1) (c), 2013 stats., or s. 560.785 (1) (c), 2009 stats., by the number of full-time jobs created in a development zone and not filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB468,174 Section 174. 71.28 (1dx) (b) 4. of the statutes, as affected by 2015 Wisconsin Act 55, is amended to read:

SB468,59,20 71.28 (1dx) (b) 4. The amount determined by multiplying the amount determined under s. 555.385 (1) (bm) or s. 238.385 (1) (bm), 2013 stats., or s. 560.785 (1) (bm), 2009 stats., by the number of full-time jobs retained, as provided in the rules under s. 555.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., in an enterprise development zone under s. 555.397 or s. 238.397, 2013 stats., or s. 560.797, 2009 stats., and for which significant capital investment was made and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB468,175 Section 175. 71.28 (1dx) (b) 5. of the statutes, as affected by 2015 Wisconsin Act 55, is amended to read:

SB468,60,3 71.28 (1dx) (b) 5. The amount determined by multiplying the amount determined under s. 555.385 (1) (c) or s. 238.385 (1) (c), 2013 stats., or s. 560.785 (1) (c), 2009 stats., by the number of full-time jobs retained, as provided in the rules under s. 555.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., in a development zone and not filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB468,176 Section 176. 71.28 (1dx) (be) of the statutes is amended to read:

SB468,60,10 71.28 (1dx) (be) Offset. A claimant in a development zone under s. 555.395 (1) (e) or s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., may offset any credits claimed under this subsection, including any credits carried over, against the amount of the tax otherwise due under this subchapter attributable to all of the claimant's income and against the tax attributable to income from directly related business operations of the claimant.

SB468,177 Section 177. 71.28 (1dx) (bg) of the statutes is amended to read:

SB468,60,23 71.28 (1dx) (bg) Other entities. For claimants in a development zone under s. 555.395 (1) (e) or s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and amount of, that credit shall be determined on the basis of their economic activity, not that of their shareholders, partners, or members. The corporation, partnership, or company shall compute the amount of the credit that may be claimed by each of its shareholders, partners, or members and shall provide that information to each of its shareholders, partners, or members. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit based on the partnership's, company's, or corporation's activities in proportion to their ownership interest and may offset it against the tax attributable to their income.

SB468,178 Section 178. 71.28 (1dx) (c) of the statutes is amended to read:

SB468,61,13 71.28 (1dx) (c) Credit precluded. If the certification of a person for tax benefits under s. 555.365 (3), 555.397 (4), 555.398 (3), or 555.3995 (4) or s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., is revoked, or if the person becomes ineligible for tax benefits under s. 555.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., that person 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 person becomes ineligible for tax benefits; or succeeding taxable years and that person may not carry over unused credits from previous years to offset tax under this chapter for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the person becomes ineligible for tax benefits; or succeeding taxable years.

SB468,179 Section 179. 71.28 (1dx) (d) of the statutes is amended to read:

SB468,61,24 71.28 (1dx) (d) Carry-over precluded. If a person who is entitled under s. 555.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., to claim tax benefits or certified under s. 555.365 (3), 555.397 (4), 555.398 (3), or 555.3995 (4) or s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., for tax benefits ceases business operations in the development zone during any of the taxable years that that zone exists, that person may not carry over to any taxable year following the year during which operations cease any unused credits from the taxable year during which operations cease or from previous taxable years.

SB468,180 Section 180. 71.28 (1dy) (a) of the statutes is amended to read:

SB468,62,4 71.28 (1dy) (a) Definition. In this subsection, "claimant" means a person who files a claim under this subsection and is certified under s. 555.301 (2) or s. 238.301 (2), 2013 stats., or s. 560.701 (2), 2009 stats., and authorized to claim tax benefits under s. 555.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats.

SB468,181 Section 181. 71.28 (1dy) (b) of the statutes is amended to read:

SB468,62,11 71.28 (1dy) (b) Filing claims. Subject to the limitations under this subsection and ss. 555.301 to 555.306 or ss. 238.301 to 238.306 , 2013 stats., or s. ss. 560.701 to 560.706, 2009 stats., for taxable years beginning after December 31, 2008, a claimant may claim as a credit against the tax imposed under s. 71.23, up to the amount of the tax, the amount authorized for the claimant under s. 555.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats.

SB468,182 Section 182. 71.28 (1dy) (c) 1. of the statutes is amended to read:

SB468,62,17 71.28 (1dy) (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. 555.301 (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. 555.303 (3) or s. 238.303 (3), 2013 stats., or s. 560.703 (3), 2009 stats.

SB468,183 Section 183. 71.28 (1dy) (c) 2. of the statutes is amended to read:

SB468,63,2 71.28 (1dy) (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. 555.303 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.

SB468,184 Section 184. 71.28 (1dy) (d) 2. of the statutes is amended to read: