Amendment ASA1-AB184

LRBs0124/1

JK:jld:ph

2009 - 2010 LEGISLATURE

ASSEMBLY SUBSTITUTE AMENDMENT 1, TO 2009 ASSEMBLY BILL 184

September 17, 2009 - Offered by Representative Roth.

AB184-ASA1,1,3 An Act to create 71.01 (7r) (d), 71.22 (5m) (c) and 71.34 (1m) (c) of the statutes; relating to: increasing expense deductions for income and franchise tax purposes.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB184-ASA1, s. 1 Section 1. 71.01 (7r) (d) of the statutes is created to read:

AB184-ASA1,1,9 71.01 (7r) (d) Notwithstanding sub. (6), and except as provided under par. (c), the total amount of the expense deduction that may be claimed under section 179 of the Internal Revenue Code is $50,000 and the investment limit phase-out for nonfarm assets is $200,000. This paragraph applies to section 179 property that is acquired and placed in service in taxable years beginning on or after January 1, 2009.

AB184-ASA1, s. 2 Section 2. 71.22 (5m) (c) of the statutes is created to read:

AB184-ASA1,2,4 71.22 (5m) (c) Notwithstanding subs. (4) and (4m), and except as provided under par. (b), the total amount of the expense deduction that may be claimed under section 179 of the Internal Revenue Code is $50,000 and the investment limit phase-out for nonfarm assets is $200,000. This paragraph applies to section 179 property that is acquired and placed in service in taxable years beginning on or after January 1, 2009.

AB184-ASA1, s. 3 Section 3. 71.34 (1m) (c) of the statutes is created to read:

AB184-ASA1,2,10 71.34 (1m) (c) Notwithstanding sub. (1g), and except as provided under par. (b), the total amount of the expense deduction that may be claimed under section 179 of the Internal Revenue Code is $50,000 and the investment limit phase-out for nonfarm assets is $200,000. This paragraph applies to section 179 property that is acquired and placed in service in taxable years beginning on or after January 1, 2009.

AB184-ASA1,2,11 (End)