SB55-ASA1,736,12 (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).

SB55-ASA1,736,20 (d) 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 amounts under par. (a). 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.

SB55-ASA1, s. 1162 Section 1162. 71.07 (7) (b) of the statutes is amended to read:

SB55-ASA1,737,11 71.07 (7) (b) If a resident individual, estate or trust pays a net income tax to another state, that resident individual, estate or trust may credit the net tax paid to that other state on that income against the net income tax otherwise payable to the state on income of the same year. The credit may not be allowed unless the income taxed by the other state is also considered income for Wisconsin tax purposes. The credit may not be allowed unless claimed within the time provided in s. 71.75 (2), but s. 71.75 (4) does not apply to those credits. For purposes of this paragraph, amounts declared and paid pursuant to under the income tax law of another state shall be deemed are considered a net income tax paid to that other state only in the year in which the income tax return for that state was required to be filed. Income and franchise taxes paid to another state by a tax-option corporation, partnership, or limited liability company that is treated as a partnership may be claimed as a credit under this paragraph by that corporation's shareholders, that partnership's partners, or that limited liability company's members who are residents of this state and who otherwise qualify under this paragraph.

SB55-ASA1, s. 1163 Section 1163. 71.07 (7m) of the statutes is created to read:

SB55-ASA1,737,13 71.07 (7m) Tax relief fund tax credit. (a) Definitions. In this subsection:

SB55-ASA1,737,14 1. "Claimant" means an individual taxpayer who is not a dependent.

SB55-ASA1,737,17 2. "Credit unit" means an amount calculated by the department by dividing the amount certified under par. (c) 3. by the sum of all claimants, all spouses of claimants, and all dependents.

SB55-ASA1,737,18 3. "Department" means the department of revenue.

SB55-ASA1,737,20 4. "Dependent" means an individual who is claimed by the claimant as a dependent under section 151 (c) of the Internal Revenue Code.

SB55-ASA1,738,2 (b) Filing claims. Subject to the limitations and conditions provided in this subsection, a claimant, or a claimant and his or her spouse, may claim as a credit against the tax imposed under s. 71.02, up to the amount of those taxes, an amount determined by the department under par. (c). One credit amount may be claimed by each claimant, by the claimant's spouse, and for each dependent of a claimant. No credit may be claimed by a dependent.

SB55-ASA1,738,5 (c) Determination of credit amount. 1. Not later than September 1 each year, the secretary of administration shall certify to the secretary of the department the amount that is in the tax relief fund under s. 25.63.

SB55-ASA1,738,7 2. If the amount of the certification is $100,000,000 or less, the amount that may be claimed in that taxable year is zero.

SB55-ASA1,738,13 3. If the amount of the certification exceeds $100,000,000, the department shall determine the credit amount for that taxable year. The credit amount shall be based on the credit unit, but shall be modified such that the certified amount in the tax relief fund is expended as fully as possible and that the credit amount for each claimant, spouse of a claimant, and dependent of a claimant is rounded down to the nearest whole dollar amount.

SB55-ASA1,738,18 (d) Certification of amounts claimed. Not later than August 15 of the year following the year in which the department determines a credit amount under par. (c) 3., the department shall determine the amount of revenue lost because of credits claimed in the taxable year to which that credit amount relates. The amount of revenue lost shall be certified to the secretary of administration.

SB55-ASA1,738,20 (e) Limitations and conditions. 1. No credit may be allowed under this subsection unless it is claimed within the time period under s. 71.75 (2).

SB55-ASA1,738,22 2. Part-year residents and nonresidents of this state are not eligible for the credit under this subsection.

SB55-ASA1,738,24 (f) Administration. Subsection (9e) (d), to the extent that it applies to the credit under that subsection, applies to the credit under this subsection.

SB55-ASA1, s. 1164 Section 1164. 71.10 (4) (dt) of the statutes is created to read:

SB55-ASA1,739,1 71.10 (4) (dt) Tax relief fund credit under s. 71.07 (7m).

SB55-ASA1, s. 1165 Section 1165. 71.10 (4) (grb) of the statutes is created to read:

SB55-ASA1,739,4 71.10 (4) (grb) Development zone capital investment credit under s. 71.07 (2dm).

SB55-ASA1, s. 1166 Section 1166. 71.10 (4) (grd) of the statutes is created to read:

SB55-ASA1,739,6 71.10 (4) (grd) Technology zones credit under s. 71.07 (3g).

SB55-ASA1, s. 2153g Section 2153g. 71.10 (5f) of the statutes is created to read:

SB55-ASA1,739,9 71.10 (5f) Local professional baseball park district donation. (a) Definitions. In this subsection:

SB55-ASA1,739,13 1. "Baseball donation" means a designation made under this subsection, the net proceeds of which shall be deposited into the fund under s. 229.685 to be used for the repayment of bonds issued for purposes related to baseball park facilities under s. 229.65 (1).

SB55-ASA1,739,14 2. "Department" means the department of revenue.

SB55-ASA1,739,18 (b) Voluntary payments. 1. `Designation on return.' Every individual filing an income tax return who has a tax liability or is entitled to a tax refund may designate on the return any amount of additional payment or any amount of a refund due that individual as a baseball donation.