SB706-SA3,2,26
71.08
(1) Imposition. (intro.) If the tax imposed on a natural person, married
7couple filing jointly, trust, or estate under s. 71.02, not considering the credits under
8ss. 71.07 (1), (2dx), (2dy), (3m), (3n), (3p), (3q), (3r), (3rm), (3rn), (3s), (3t), (3w),
9(3wm), (3y), (4k), (5b), (5d), (5e), (5f), (5h), (5i), (5j), (5n), (6), (6e),
(8b), (8r), (9e), (9m),
10and (9r), 71.28 (1dx), (1dy), (2m), (3), (3n), (3t), (3w), (3wm), and (3y), 71.47 (1dx),
11(1dy), (2m), (3), (3n), (3t), (3w), and (3y), 71.57 to 71.61, and 71.613 and subch. VIII
12and payments to other states under s. 71.07 (7), is less than the tax under this
13section, there is imposed on that natural person, married couple filing jointly, trust
1or estate, instead of the tax under s. 71.02, an alternative minimum tax computed
2as follows:”.
SB706-SA3,2,17
127. Page 14, line 1: delete the material beginning with “The aggregate" and
13ending with “$42,000,000" on line 3 and substitute “In any calendar year, the
14aggregate amount of all state tax credits for which the authority certifies persons in
15allocation certificates issued under sub. (3) in that year may not exceed $42,000,000,
16including all amounts each person is eligible to claim for each year of the credit
17period”.
SB706-SA3,3,2
188. Page 15, line 3: after “section." insert “The policies and procedures
19established under this subsection shall, to the extent practicable, incorporate the
20authority's policies and procedures for awarding federal low-income housing credits
21under section
42 of the Internal Revenue Code. The authority shall issue allocation
22certificates annually, on a rolling basis, based on eligibility, as determined by the
1authority, except that the authority may develop a competitive process to award
2allocation certificates as a part of its qualified allocation plan.".