Amendment AA1-ASA1-AB904

LRBa2327/2

JK:nwn:ph

2009 - 2010 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO ASSEMBLY SUBSTITUTE AMENDMENT 1, TO 2009 ASSEMBLY BILL 904

April 20, 2010 - Offered by Representatives Richards and Honadel.

AB904-ASA1-AA1,1,1 At the locations indicated, amend the substitute amendment as follows:

AB904-ASA1-AA1,1,2 1. Page 1, line 6: after "programs;" insert "a water consumption tax credit;".

AB904-ASA1-AA1,1,3 2. Page 4, line 8: after that line insert:

AB904-ASA1-AA1,1,5 " Section 8b. 71.05 (6) (a) 15. of the statutes, as affected by 2009 Wisconsin Act 28, is amended to read:

AB904-ASA1-AA1,1,11 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), (3s), (3t), (3w), (5e), (5f), (5h), (5i), (5j), (5k), (5rm), and (8r) 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).

AB904-ASA1-AA1, s. 8c Section 8c. 71.07 (5rm) of the statutes is created to read:

AB904-ASA1-AA1,1,13 71.07 (5rm) Water consumption credit. (a) Definitions. In this subsection:

AB904-ASA1-AA1,2,2 1. "Ccf" means 100 cubic feet.

AB904-ASA1-AA1,2,6 2. "Claimant" means a person who files a claim under this subsection, who is an industrial customer of a municipal water utility that is located in a federal renewal community zone in this state, and whose average annual water consumption from that utility for a 24-month period exceeds 1,000,000 Ccf.

AB904-ASA1-AA1,2,12 (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2009, and before January 1, 2020, a claimant may claim as a credit against the tax imposed under s. 71.02, up to the amount of the tax, the amount determined as follows, except that the maximum amount that a claimant may claim in a taxable year under this subsection is $300,000:

AB904-ASA1-AA1,2,14 1. Subtract the claimant's 2009 water usage costs from the claimant's water usage costs for the taxable year.

AB904-ASA1-AA1,2,16 2. If the amount determined under subd. 1. is a positive number, multiply that amount by 0.50.

AB904-ASA1-AA1,2,24 (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 payment of amounts under par. (b). 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.

AB904-ASA1-AA1,3,2 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

AB904-ASA1-AA1, s. 8d Section 8d. 71.10 (4) (ce) of the statutes is created to read:

AB904-ASA1-AA1,3,4 71.10 (4) (ce) Water consumption credit under s. 71.07 (5rm).

AB904-ASA1-AA1, s. 8e Section 8e. 71.21 (4) of the statutes, as affected by 2009 Wisconsin Act 28, is amended to read:

AB904-ASA1-AA1,3,10 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), (3s), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5rm), and (8r) and passed through to partners shall be added to the partnership's income.

AB904-ASA1-AA1, s. 8f Section 8f. 71.26 (2) (a) 4. of the statutes, as affected by 2009 Wisconsin Act 28, is amended to read:

AB904-ASA1-AA1,3,18 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), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5rm), and (8r) 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).

AB904-ASA1-AA1, s. 8g Section 8g. 71.28 (5rm) of the statutes is created to read:

AB904-ASA1-AA1,3,20 71.28 (5rm) Water consumption credit. (a) Definitions. In this subsection:

AB904-ASA1-AA1,3,21 1. "Ccf" means 100 cubic feet.

AB904-ASA1-AA1,3,25 2. "Claimant" means a person who files a claim under this subsection, who is an industrial customer of a municipal water utility that is located in a federal renewal community zone in this state, and whose average annual water consumption from that utility for a 24-month period exceeds 1,000,000 Ccf.

AB904-ASA1-AA1,4,6 (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2009, and before January 1, 2020, a claimant may claim as a credit against the tax imposed under s. 71.23, up to the amount of the tax, the amount determined as follows, except that the maximum amount that a claimant may claim in a taxable year under this subsection is $300,000:

AB904-ASA1-AA1,4,8 1. Subtract the claimant's 2009 water usage costs from the claimant's water usage costs for the taxable year.

AB904-ASA1-AA1,4,10 2. If the amount determined under subd. 1. is a positive number, multiply that amount by 0.50.

AB904-ASA1-AA1,4,18 (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 payment of amounts under par. (b). 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.

AB904-ASA1-AA1,4,20 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under sub. (4), applies to the credit under this subsection.

AB904-ASA1-AA1, s. 8h Section 8h. 71.30 (3) (ce) of the statutes is created to read:

AB904-ASA1-AA1,4,22 71.30 (3) (ce) Water consumption credit under s. 71.28 (5rm).

AB904-ASA1-AA1, s. 8i Section 8i. 71.34 (1k) (g) of the statutes, as affected by 2009 Wisconsin Act 28, is amended to read:

AB904-ASA1-AA1,5,4 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), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5rm), and (8r) and passed through to shareholders.

AB904-ASA1-AA1, s. 8j Section 8j. 71.45 (2) (a) 10. of the statutes, as affected by 2009 Wisconsin Act 28, is amended to read:

AB904-ASA1-AA1,5,13 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), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5rm), and (8r) 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).

AB904-ASA1-AA1, s. 8k Section 8k. 71.47 (5rm) of the statutes is created to read:

AB904-ASA1-AA1,5,15 71.47 (5rm) Water consumption credit. (a) Definitions. In this subsection:

AB904-ASA1-AA1,5,16 1. "Ccf" means 100 cubic feet.

AB904-ASA1-AA1,5,20 2. "Claimant" means a person who files a claim under this subsection, who is an industrial customer of a municipal water utility that is located in a federal renewal community zone in this state, and whose average annual water consumption from that utility for a 24-month period exceeds 1,000,000 Ccf.

AB904-ASA1-AA1,6,2 (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2009, and before January 1, 2020, a claimant may claim as a credit against the tax imposed under s. 71.43, up to the amount of the tax, the amount determined as follows, except that the maximum amount that a claimant may claim in a taxable year under this subsection is $300,000:

AB904-ASA1-AA1,6,4 1. Subtract the claimant's 2009 water usage costs from the claimant's water usage costs for the taxable year.

AB904-ASA1-AA1,6,6 2. If the amount determined under subd. 1. is a positive number, multiply that amount by 0.50.

AB904-ASA1-AA1,6,14 (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 payment of amounts under par. (b). 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.

AB904-ASA1-AA1,6,16 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

AB904-ASA1-AA1, s. 8L Section 8L. 71.49 (1) (ce) of the statutes is created to read:

AB904-ASA1-AA1,6,18 71.49 (1) (ce) Water consumption credit under s. 71.47 (5rm).