2003 WISCONSIN ACT 267
(Vetoed in Part)
An Act to repeal 71.10 (3) (ac), 71.10 (4) (gg), 71.10 (4) (grb), 71.10 (4) (grd), 71.10 (4) (gu), 71.30 (3) (eg), 71.30 (3) (emb), 71.30 (3) (eom), 71.30 (3) (eon), 71.49 (1) (eg), 71.49 (1) (emb), 71.49 (1) (eom) and 71.49 (1) (eon); to amend 71.07 (2di) (c), 71.07 (2dm) (h), 71.07 (2dx) (e), 71.07 (3g) (c), 71.07 (3s) (c) 1., 71.10 (4) (i), 71.28 (1di) (c), 71.28 (1dm) (h), 71.28 (1dx) (e), 71.28 (3) (c) 1., 71.28 (3g) (c), 71.30 (3) (f), 71.47 (1di) (c), 71.47 (1dm) (h), 71.47 (1dx) (e), 71.47 (3) (c) 1., 71.47 (3g) (c) and 71.49 (1) (f); and to create 20.835 (2) (dz), 71.07 (2di) (gm), 71.07 (2dm) (gm), 71.07 (2dx) (dm), 71.07 (3g) (bm), 71.28 (1di) (gm), 71.28 (1dm) (gm), 71.28 (1dx) (dm), 71.28 (3g) (bm), 71.47 (1di) (gm), 71.47 (1dm) (gm), 71.47 (1dx) (dm) and 71.47 (3g) (bm) of the statutes; relating to: the income and franchise tax credit for sales tax and use tax paid on fuel and electricity consumed in manufacturing, allowing refunds for claiming the development zones capital investment tax credit, development zones credit, development opportunity zones credit, technology zones credit and making an appropriation.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
267,1b
Section 1b. 20.835 (2) (dz) of the statutes is created to read:
20.835 (2) (dz) Development zones and technology zones credits. A sum sufficient to make the payments under ss. 71.07 (2di) (gm), (2dm) (gm), (2dx) (dm), and (3g) (bm), 71.28 (1di) (gm), (1dm) (gm), (1dx) (dm), and (3g) (bm), and 71.47 (1di) (gm), (1dm) (gm), (1dx) (dm), and (3g) (bm).
267,1c
Section 1c. 71.07 (2di) (c) of the statutes is amended to read:
71.07 (2di) (c) Except as provided in par. (b) 2.,
the for taxable years beginning before January 1, 2006, the carry-over provisions of s. 71.28 (4) (e) and (f) as they relate to the credit under s. 71.28 (4) relate to the credit under this subsection and apply as if the development zone continued to exist.
267,1d
Section 1d. 71.07 (2di) (gm) of the statutes is created to read:
71.07 (2di) (gm) For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, 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) (dz).
267,1e
Section 1e. 71.07 (2dm) (gm) of the statutes is created to read:
71.07 (2dm) (gm) For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise
due on the claimant's income, 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) (dz).
267,1f
Section 1f. 71.07 (2dm) (h) of the statutes is amended to read:
71.07 (2dm) (h) The For taxable years beginning before January 1, 2006, the carry-over provisions of s. 71.28 (4) (e) and (f) as they relate to the credit under s. 71.28 (4) relate to the credit under this subsection.
267,1g
Section 1g. 71.07 (2dx) (dm) of the statutes is created to read:
71.07 (2dx) (dm) Refunds. For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, 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) (dz).
267,1h
Section 1h. 71.07 (2dx) (e) of the statutes is amended to read:
71.07 (2dx) (e) Administration. Section 71.28 (4) (e) to (g) and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. For taxable years beginning before January 1, 2006, s. 71.28 (4) (e) and (f), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. Subsection (2dj) (c), as it applies to the credit under sub. (2dj), applies to the credit under this subsection. Claimants shall include with their returns a copy of their certification for tax benefits and a copy of the department of commerce's verification of their expenses.
267,1i
Section 1i. 71.07 (3g) (bm) of the statutes is created to read:
71.07 (3g) (bm) For credits computed based on amounts paid or incurred in taxable years beginning after December 31, 2005, if the allowable amount of the claim under this subsection exceeds the income taxes otherwise due on the claimant's income, 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) (dz).
267,1j
Section 1j. 71.07 (3g) (c) of the statutes is amended to read:
71.07 (3g) (c) Section 71.28 (4) (e), (f), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under par. (a). For taxable years beginning before January 1, 2006, s. 71.28 (4) (e) and (f), as it applies to the credit under s. 71.28 (4), applies to the credit under par. (a).