SB30-SSA1,1113u Section 1113u. 71.47 (6) (h) of the statutes is amended to read:

SB30-SSA1,661,6 71.47 (6) (h) Any person, including a nonprofit entity described in section 501 (c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes imposed under s. 71.02, 71.08, 71.23, or 71.43, if the person notifies the department of the transfer, and submits with the notification a copy of the transfer documents, and the department certifies ownership of the credit with each transfer.

SB30-SSA1,1114 Section 1114 . 71.47 (6) (i) of the statutes is created to read:

SB30-SSA1,661,12 71.47 (6) (i) If a person who claims a credit under this subsection and a credit under section 47 of the Internal Revenue Code for the same qualified rehabilitation expenditures is required to repay any amount of the credit claimed under section 47 of the Internal Revenue Code, the person shall repay to the department a proportionate amount of the credit claimed under this subsection.

SB30-SSA1,1114j Section 1114j. 71.49 (1) (c) of the statutes is amended to read:

SB30-SSA1,661,15 71.49 (1) (c) Research credit under s. 71.47 (4) , except as provided under par. (f).

SB30-SSA1,1114k Section 1114k. 71.49 (1) (f) of the statutes is amended to read:

SB30-SSA1,662,2 71.49 (1) (f) The total of farmland preservation credit under subch. IX, farmland tax relief credit under s. 71.47 (2m), dairy manufacturing facility investment credit under s. 71.47 (3p), jobs credit under s. 71.47 (3q), meat processing facility investment credit under s. 71.47 (3r), woody biomass harvesting and processing credit under s. 71.47 (3rm), food processing plant and food warehouse investment credit under s. 71.47 (3rn), enterprise zone jobs credit under s. 71.47 (3w), business development credit under s. 71.47 (3y), research credit under s. 71.47 (4) (k) 1., film production services credit under s. 71.47 (5f), film production company investment credit under s. 71.47 (5h), beginning farmer and farm asset owner tax credit under s. 71.47 (8r), and estimated tax payments under s. 71.48.

SB30-SSA1,1115 Section 1115 . 71.52 (1d) of the statutes is created to read:

SB30-SSA1,662,7 71.52 (1d) “Disabled” means an individual who is unable to engage in any substantial gainful employment by reason of a medically determinable physical or mental impairment which has lasted or is reasonably expected to last for a continuous period of not less than 12 months.

SB30-SSA1,1116 Section 1116 . 71.52 (1e) of the statutes is created to read:

SB30-SSA1,662,11 71.52 (1e) “Disqualified loss" means the sum of the following amounts, exclusive of net gains from the sale or exchange of capital or business assets and exclusive of net profits:

SB30-SSA1,662,12 (a) Net loss from sole proprietorships.

SB30-SSA1,662,13 (b) Net capital loss.

SB30-SSA1,662,15 (c) Net loss from sales of business property, excluding loss from involuntary conversions.

SB30-SSA1,662,17 (d) Net loss from rental real estate, royalties, partnerships, tax-option S corporations, trusts, estates, and real estate mortgage investment conduits.

SB30-SSA1,662,18 (e) Net farm loss.

SB30-SSA1,1117 Section 1117 . 71.52 (1m) of the statutes is created to read:

SB30-SSA1,662,21 71.52 (1m) “Farmer,” “farming,” and “farm premises” have the meanings given in s. 102.04 (3).

SB30-SSA1,1118 Section 1118 . 71.52 (6) of the statutes is amended to read:

SB30-SSA1,664,11 71.52 (6) “Income" means the sum of Wisconsin adjusted gross income and the following amounts, to the extent not included in Wisconsin adjusted gross income: maintenance payments (except foster care maintenance and supplementary payments excludable under section 131 of the internal revenue code), support money, cash public assistance (not including credit granted under this subchapter and amounts under s. 46.27), cash benefits paid by counties under s. 59.53 (21), the gross amount of any pension or annuity (including railroad retirement benefits, all payments received under the federal social security act and veterans disability pensions), nontaxable interest received from the federal government or any of its instrumentalities, nontaxable interest received on state or municipal bonds, worker's compensation, unemployment insurance, the gross amount of “loss of time" insurance, compensation and other cash benefits received from the United States for past or present service in the armed forces, scholarship and fellowship gifts or income, capital gains, gain on the sale of a personal residence excluded under section 121 of the internal revenue code, dividends, income of a nonresident or part-year resident who is married to a full-year resident, housing allowances provided to members of the clergy, the amount by which a resident manager's rent is reduced, nontaxable income of an American Indian, nontaxable income from sources outside this state and nontaxable deferred compensation. Intangible drilling costs, depletion allowances and depreciation, including first-year depreciation allowances under section 179 of the internal revenue code, amortization, contributions to individual retirement accounts under section 219 of the internal revenue code, contributions to Keogh plans, net operating loss carry-backs and carry-forwards and, capital loss carry-forwards , and disqualified losses deducted in determining Wisconsin adjusted gross income shall be added to “income". “Income" does not include gifts from natural persons, cash reimbursement payments made under title XX of the federal social security act, surplus food or other relief in kind supplied by a governmental agency, the gain on the sale of a personal residence deferred under section 1034 of the internal revenue code or nonrecognized gain from involuntary conversions under section 1033 of the internal revenue code. Amounts not included in adjusted gross income but added to “income" under this subsection in a previous year and repaid may be subtracted from income for the year during which they are repaid. Scholarship and fellowship gifts or income that are included in Wisconsin adjusted gross income and that were added to household income for purposes of determining the credit under this subchapter in a previous year may be subtracted from income for the current year in determining the credit under this subchapter. A marital property agreement or unilateral statement under ch. 766 has no effect in computing “income" for a person whose homestead is not the same as the homestead of that person's spouse.

SB30-SSA1,1120 Section 1120 . 71.54 (1) (g) 4. of the statutes is created to read:

SB30-SSA1,664,17 71.54 (1) (g) 4. Except as provided in subds. 5. and 7., for claims filed in 2018 and thereafter and based on property taxes accrued or rent constituting property taxes accrued during the previous year, no credit may be allowed under this paragraph unless the claimant or the claimant's spouse is over the age of 61 at the close of the year to which the claim relates.

SB30-SSA1,1121 Section 1121 . 71.54 (1) (g) 5., 6. and 7. of the statutes are created to read:

SB30-SSA1,664,21 71.54 (1) (g) 5. For claims filed in 2018 and thereafter and based on property taxes accrued or rent constituting property taxes accrued during the previous year, no credit may be allowed under this paragraph unless the claimant is disabled.

SB30-SSA1,664,25 6. With regard to a claimant who is disabled, the claimant shall provide with his or her return proof that his or her disability is in effect for the taxable year to which the claim relates. Proof of disability may be demonstrated by any of the following:

SB30-SSA1,665,2 a. A statement from the Veteran's Administration certifying that the claimant is receiving a disability benefit due to 100 percent disability.

SB30-SSA1,665,4 b. A document, or copy of a document, from the Social Security Administration stating the date the disability began.

SB30-SSA1,665,7 c. A statement from a physician, as defined in s. 448.01 (5), stating the beginning date of the disability and whether the disability is permanent or temporary.