AB64-ASA1,1082 Section 1082 . 71.26 (2) (b) 11. of the statutes is created to read:

AB64-ASA1,637,14 71.26 (2) (b) 11. a. For taxable years beginning after December 31, 2016, for a corporation, conduit, or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust, or financial asset securitization investment trust under the Internal Revenue Code, “net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit, or trust as determined under the Internal Revenue Code.

AB64-ASA1,637,17 b. For purposes of subd. 11. a., “Internal Revenue Code" means the federal Internal Revenue Code as amended to December 31, 2016, except as provided in subd. 11. c. and d. and s. 71.98 and subject to subd. 11. e.

AB64-ASA1,638,7 c. For purposes of subd. 11. a., “Internal Revenue Code" does not include the following provisions of federal public laws for taxable years beginning after December 31, 2016: section 13113 of P.L 103-66; sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422 of P.L 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; sections 104 and 307 of P.L. 109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A, section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232, 1241, 1251, 1501, and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214, and 216 of P.L. 111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754, and 760 of P.L. 111-312; section 1106 of P.L. 112-95; sections 104, 318, 322, 323, 324, 326, 327, and 411 of P.L. 112-240; P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113; and sections 112, 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113.

AB64-ASA1,638,9 d. For purposes of subd. 11. a., “Internal Revenue Code" does not include amendments to the federal Internal Revenue Code enacted after December 31, 2016.

AB64-ASA1,638,16 e. For purposes of subd. 11. a., the provisions of federal public laws that directly or indirectly affect the Internal Revenue Code, as defined in this subdivision, apply for Wisconsin purposes at the same time as for federal purposes, except that changes made by section 4007 (b) of P.L. 114-41, section 1102 of P.L. 114-74, sections 105, 111, 113 to 115, 133, 301, 302, 304, 305, 308, 311, 313 to 323, 325, 331, and 343 to 345 of division Q of P.L. 114-113 first apply for taxable years beginning after December 31, 2016.

AB64-ASA1,1082m Section 1082m. 71.26 (3) (cf) of the statutes is created to read:

AB64-ASA1,638,22 71.26 (3) (cf) For taxable years beginning after December 31, 2016, section 118 (a) (relating to nonshareholder contributions to capital) is modified so that the amount of income and franchise tax credits under s. 71.28 (3q) (b), (3w) (b) and (bm) 1., 2., and 4., (3wm) (b) and (bm), and (3y) (b) that is not included in federal taxable income is added to federal taxable income.

AB64-ASA1,1083 Section 1083 . 71.26 (4) (a) of the statutes is amended to read:

AB64-ASA1,639,15 71.26 (4) (a) Except as provided in par. (b) and s. 71.80 (25), a corporation, except a tax-option corporation or an insurer to which s. 71.45 (4) applies, may offset against its Wisconsin net business income any Wisconsin net business loss sustained incurred in any of the next 20 immediately preceding taxable years, if the corporation was subject to taxation under this chapter in the taxable year in which the loss was sustained incurred, to the extent not offset by other items of Wisconsin income in the loss year and by Wisconsin net business income of any year between the loss year and the taxable year for which an offset is claimed. For purposes of this subsection, Wisconsin net business income or loss shall consist of all the income attributable to the operation of a trade or business in this state, less the business expenses allowed as deductions in computing net income. The Wisconsin net business income or loss of corporations engaged in business within and without the state shall be determined under s. 71.25 (6) and (10) to (12). Nonapportionable losses having a Wisconsin situs under s. 71.25 (5) (b) shall be included in Wisconsin net business loss; and nonapportionable income having a Wisconsin situs under s. 71.25 (5) (b), whether taxable or exempt, shall be included in other items of Wisconsin income and Wisconsin net business income for purposes of this subsection.

AB64-ASA1,1083x Section 1083x. 71.28 (3q) (c) 3. of the statutes is amended to read:

AB64-ASA1,639,21 71.28 (3q) (c) 3. The maximum amount of credits that may be awarded under this subsection and ss. 71.07 (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), 2015 stats., or s. 560.205 (3) (d), 2009 stats.

AB64-ASA1,1084 Section 1084 . 71.28 (3q) (d) 2. of the statutes is amended to read:

AB64-ASA1,640,6 71.28 (3q) (d) 2. If the allowable amount of the claim under par. (b) exceeds the tax otherwise due under s. 71.23, the amount of the claim not used to offset the tax due shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation account under s. 20.835 (2) (bb), except that the amounts certified under this subdivision for taxable years beginning after December 31, 2009, and before January 1, 2012, shall be paid in taxable years beginning after December 31, 2011. Notwithstanding s. 71.82, no interest shall be paid on amounts certified under this subdivision.

AB64-ASA1,1085ba Section 1085ba. 71.28 (3w) (b) (intro.) of the statutes is amended to read:

AB64-ASA1,640,11 71.28 (3w) (b) Filing claims; payroll. (intro.) Subject to the limitations provided in this subsection and s. 238.399 or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.23 an amount calculated as follows:

AB64-ASA1,1085bb Section 1085bb. 71.28 (3w) (bm) 1. of the statutes is amended to read:

AB64-ASA1,640,23 71.28 (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. 238.399 or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.23 an amount equal to a percentage, as determined under s. 238.399 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.

AB64-ASA1,1085bc Section 1085bc. 71.28 (3w) (bm) 2. of the statutes is amended to read:

AB64-ASA1,641,14 71.28 (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. 238.399 or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.23 an amount equal to the percentage, as determined under s. 238.399 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.

AB64-ASA1,1085bd Section 1085bd. 71.28 (3w) (bm) 3. of the statutes is amended to read:

AB64-ASA1,641,21 71.28 (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. 238.399 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. 71.23 up to 10 percent of the claimant's significant capital expenditures, as determined under s. 238.399 (5m) or s. 560.799 (5m), 2009 stats.

AB64-ASA1,1085be Section 1085be. 71.28 (3w) (bm) 4. of the statutes is amended to read:

AB64-ASA1,642,6 71.28 (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. 238.399 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. 71.23, 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. 238.399 (5) (e) 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.

AB64-ASA1,1085d Section 1085d. 71.28 (3w) (c) 1. of the statutes is renumbered 71.28 (3w) (c) 1. a. and amended to read:

AB64-ASA1,642,15 71.28 (3w) (c) 1. a. If For claims filed before January 1, 2018, if the allowable amount of the claim under this subsection exceeds the taxes otherwise due on the claimant's income under s. 71.23, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (co). Notwithstanding s. 71.82, no interest shall be paid on amounts certified under this subd. 1. a.

AB64-ASA1,1085e Section 1085e. 71.28 (3w) (c) 1. b. of the statutes is created to read:

AB64-ASA1,642,23 71.28 (3w) (c) 1. b. For claims filed after December 31, 2017, claims under this subsection shall be made to the Wisconsin Economic Development Corporation using policies and procedures established by the corporation board. The corporation shall certify valid claims to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (co). Notwithstanding s. 71.82, no interest shall be paid on amounts certified under this subd. 1. b.

AB64-ASA1,1085f Section 1085f. 71.28 (3w) (c) 2. of the statutes is amended to read: