AB100-engrossed, s. 1424d Section 1424d. 71.47 (3n) (a) 5. of the statutes is created to read:

AB100-engrossed,695,13 71.47 (3n) (a) 5. "Livestock farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or the acquisition of equipment, for livestock housing, confinement, feeding, or waste management, including the following, if used exclusively related to livestock and if acquired and placed in service in this state during taxable years that begin after December 31, 2005, and before January 1, 2012:

AB100-engrossed,695,14 a. Birthing structures.

AB100-engrossed,695,15 b. Rearing structures.

AB100-engrossed,695,16 c. Feedlot structures.

AB100-engrossed,695,17 d. Feed storage and handling equipment.

AB100-engrossed,695,18 e. Fences.

AB100-engrossed,695,19 f. Watering facilities.

AB100-engrossed,695,20 g. Scales.

AB100-engrossed,695,21 h. Manure pumping and storage facilities.

AB100-engrossed,695,22 i. Digesters.

AB100-engrossed,695,23 j. Equipment used to produce energy.

AB100-engrossed,695,24 k. Fish hatchery buildings.

AB100-engrossed,695,25 L. Fish processing buildings.

AB100-engrossed,696,1 m. Fish rearing ponds.

AB100-engrossed, s. 1424e Section 1424e. 71.47 (3n) (a) 6. of the statutes is created to read:

AB100-engrossed,696,5 71.47 (3n) (a) 6. a. For taxable years that begin after December 31, 2003, and before January 1, 2006, "used exclusively," related to dairy animals, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.

AB100-engrossed,696,8 b. For taxable years that begin after December 31, 2005, and before January 1, 2010, "used exclusively," related to livestock, dairy animals, or both, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.

AB100-engrossed,696,11 c. For taxable years that begin after December 31, 2009, and before January 1, 2012, "used exclusively," related to livestock, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.

AB100-engrossed, s. 1425b Section 1425b. 71.47 (3n) (b) of the statutes is renumbered 71.47 (3n) (b) 1.

AB100-engrossed, s. 1425c Section 1425c. 71.47 (3n) (b) 2. of the statutes is created to read:

AB100-engrossed,696,19 71.47 (3n) (b) 2. Subject to the limitations provided in this subsection, for taxable years that begin after December 31, 2005, and before January 1, 2012, a claimant may claim as a credit against the tax imposed under s. 71.43 an amount equal to 10 percent of the amount the claimant paid in the taxable year for livestock farm modernization or expansion related to the operation of the claimant's livestock farm.

AB100-engrossed, s. 1425d Section 1425d. 71.47 (3n) (e) of the statutes is renumbered 71.47 (3n) (e) 1. and amended to read:

AB100-engrossed,697,5 71.47 (3n) (e) 1. 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 expenses under par. (b), except that the aggregate amount of credits that the entity may compute shall not exceed $50,000. 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 interest.

AB100-engrossed, s. 1425e Section 1425e. 71.47 (3n) (e) 2. of the statutes is created to read:

AB100-engrossed,697,10 71.47 (3n) (e) 2. If 2 or more persons own and operate the dairy or livestock farm, each person may claim a credit under par. (b) in proportion to his or her ownership interest, except that the aggregate amount of the credits claimed by all persons who own and operate the farm shall not exceed $50,000.

AB100-engrossed, s. 1426 Section 1426. 71.47 (4) (a) of the statutes is amended to read:

AB100-engrossed,697,25 71.47 (4) (a) Credit. Any corporation may credit against taxes otherwise due under this chapter an amount equal to 5% of the amount obtained by subtracting from the corporation's qualified research expenses, as defined in section 41 of the internal revenue code, except that "qualified research expenses" includes only expenses incurred by the claimant, incurred for research conducted in this state for the taxable year, except that a taxpayer may elect the alternative computation under section 41 (c) (4) of the Internal Revenue Code and that election applies until the department permits its revocation and except that "qualified research expenses" does not include compensation used in computing the credit under subs. (1dj) and (1dx), the corporation's base amount, as defined in section 41 (c) of the internal revenue code, except that gross receipts used in calculating the base amount means gross receipts from sales attributable to Wisconsin under s. 71.25 (9) (b) 1. and 2. and, (d), (df), and (dh). Section 41 (h) of the internal revenue code does not apply to the credit under this paragraph.

AB100-engrossed, s. 1427 Section 1427. 71.47 (4) (am) of the statutes is amended to read: