SB40-ASA1,1010,5 71.47 (1dx) (a) 5. "Member of a targeted group" means a person who resides in an area designated by the federal government as an economic revitalization area, a person who is employed in an unsubsidized job but meets the eligibility requirements under s. 49.145 (2) and (3) for a Wisconsin Works employment position, a person who is employed in a trial job, as defined in s. 49.141 (1) (n), or in a real work, real pay project position under s. 49.147 (3m), a person who is eligible for child care assistance under s. 49.155, a person who is a vocational rehabilitation referral, an economically disadvantaged youth, an economically disadvantaged veteran, a supplemental security income recipient, a general assistance recipient, an economically disadvantaged ex-convict, a qualified summer youth employee, as defined in 26 USC 51 (d) (7), a dislocated worker, as defined in 29 USC 2801 (9), or a food stamp recipient, if the person has been certified in the manner under sub. (1dj) (am) 3. by a designated local agency, as defined in sub. (1dj) (am) 2.

SB40-ASA1, s. 1803 Section 1803. 71.47 (1dx) (b) 2. of the statutes is amended to read:

SB40-ASA1,1010,11 71.47 (1dx) (b) 2. The amount determined by multiplying the amount determined under s. 560.785 (1) (b) 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) or the subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.

SB40-ASA1, s. 1804 Section 1804. 71.47 (1dx) (b) 3. of the statutes is amended to read:

SB40-ASA1,1010,17 71.47 (1dx) (b) 3. The amount determined by multiplying the amount determined under s. 560.785 (1) (c) 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) or the subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.

SB40-ASA1, s. 1805 Section 1805. 71.47 (1dx) (b) 4. of the statutes is amended to read:

SB40-ASA1,1010,25 71.47 (1dx) (b) 4. The amount determined by multiplying the amount determined under s. 560.785 (1) (bm) by the number of full-time jobs retained, as provided in the rules under s. 560.785, excluding jobs for which a credit has been claimed under sub. (1dj), in an enterprise development zone under s. 560.797 and for which significant capital investment was made and by then subtracting the subsidies paid under s. 49.147 (3) (a) or the subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.

SB40-ASA1, s. 1806 Section 1806. 71.47 (1dx) (b) 5. of the statutes is amended to read:

SB40-ASA1,1011,7 71.47 (1dx) (b) 5. The amount determined by multiplying the amount determined under s. 560.785 (1) (c) by the number of full-time jobs retained, as provided in the rules under s. 560.785, excluding jobs for which a credit has been claimed under sub. (1dj), 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) or the subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.

SB40-ASA1, s. 1807 Section 1807. 71.47 (3p) of the statutes is created to read:

SB40-ASA1,1011,10 71.47 (3p) Dairy manufacturing facility investment credit. (a) Definitions. In this subsection:

SB40-ASA1,1011,11 1. "Claimant" means a person who files a claim under this subsection.

SB40-ASA1,1011,13 2. "Dairy manufacturing" means processing milk into dairy products or processing dairy products for sale commercially.

SB40-ASA1,1011,18 3. "Dairy manufacturing modernization or expansion" means constructing, improving, or acquiring buildings or facilities, or acquiring equipment, for dairy manufacturing, including the following, if used exclusively for dairy manufacturing and if acquired and placed in service in this state during taxable years that begin after December 31, 2006, and before January 1, 2015:

SB40-ASA1,1011,19 a. Building construction, including storage and warehouse facilities.

SB40-ASA1,1011,20 b. Building additions.

SB40-ASA1,1011,21 c. Upgrades to utilities, including water, electric, heat, and waste facilities.

SB40-ASA1,1011,22 d. Milk intake and storage equipment.

SB40-ASA1,1011,25 e. Processing and manufacturing equipment, including pipes, motors, pumps, valves, pasteurizers, homogenizers, vats, evaporators, dryers, concentrators, and churns.

SB40-ASA1,1012,2 f. Packaging and handling equipment, including sealing, bagging, boxing, labeling, conveying, and product movement equipment.

SB40-ASA1,1012,3 g. Warehouse equipment, including storage racks.

SB40-ASA1,1012,6 h. Waste treatment and waste management equipment, including tanks, blowers, separators, dryers, digesters, and equipment that uses waste to produce energy, fuel, or industrial products.

SB40-ASA1,1012,9 i. Computer software and hardware used for managing the claimant's dairy manufacturing operation, including software and hardware related to logistics, inventory management, and production plant controls.

SB40-ASA1,1012,11 4. "Used exclusively" means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.

SB40-ASA1,1012,17 (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2006, and before January 1, 2015, a claimant may claim as a credit against the taxes imposed under s. 71.43, up to the amount of the tax, an amount equal to 10 percent of the amount the claimant paid in the taxable year for dairy manufacturing modernization or expansion related to the claimant's dairy manufacturing operation.

SB40-ASA1,1012,20 (c) Limitations. 1. No credit may be allowed under this subsection for any amount that the claimant paid for expenses described under par. (b) that the claimant also claimed as a deduction under section 162 of the Internal Revenue Code.

SB40-ASA1,1012,22 2. The aggregate amount of credits that a claimant may claim under this subsection is $200,000.

SB40-ASA1,1013,6 3. 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 $200,000. 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.

SB40-ASA1,1013,10 4. If 2 or more persons own and operate the dairy manufacturing operation, 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 dairy manufacturing operation shall not exceed $200,000.