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AB905,2,32 20.835 (2) (cb) Older housing rehabilitation credit. A sum sufficient to pay the
3claims approved under s. 71.07 (8m).
AB905,2 4Section 2 . 71.07 (8m) of the statutes is created to read:
AB905,2,65 71.07 (8m) Older housing rehabilitation credit. (a) Definitions. In this
6subsection:
AB905,2,77 1. “Claimant" means an individual who files a claim under this subsection.
AB905,2,98 2. “Eligible housing” means a single-family residence that is the primary
9residence of a claimant and which meets the conditions specified in par. (c) 5. and 6.
AB905,2,1210 3. “Fair market value” means the estimated fair market value of a
11single-family residence as shown on the property tax bill prepared for the prior year
12under s. 74.09.
AB905,2,1313 4. “Municipality" means a city, village, or town.
AB905,2,1414 5. “Project” means a construction or reconstruction project on eligible housing.
AB905,3,2
16. “Qualified rehabilitation expenditure” means costs and expenses incurred
2by a claimant to complete a project.
AB905,3,113 (b) Filing claims. Subject to the limitations and conditions provided in this
4subsection, a claimant may claim as a credit against the tax imposed under s. 71.02
5an amount equal to 10 percent of the amount the claimant spent on qualified
6rehabilitation expenditures on a single residence. If the allowable amount of the
7claim exceeds the income taxes otherwise due on the claimant's income, the amount
8of the claim not used as an offset against those taxes shall be certified by the
9department of revenue to the department of administration for payment to the
10claimant by check, share draft, or other draft drawn from the appropriation account
11under s. 20.835 (2) (cb).
AB905,3,1312 (c) Limitations and conditions. 1. Except as provided in subd. 8., the maximum
13credit amount that a claimant may claim under this subsection is $15,000.
AB905,3,1514 2. No credit may be claimed under this subsection by a part-year resident or
15a nonresident of this state.
AB905,3,1716 3. No credit may be allowed under this subsection unless it is claimed within
17the period specified in s. 71.75 (2).
AB905,3,2018 4. No credit may be allowed under this subsection for a taxable year covering
19a period of less than 12 months, except for a taxable year closed by reason of the death
20of the claimant.
AB905,3,2221 5. No credit may be claimed under this subsection unless the initial
22construction of the residence to which the claim relates was completed before 1980.
AB905,4,323 6. No credit may be claimed under this subsection unless the fair market value
24of the residence to which the claim relates is equal to or less than the median price
25of a single-family residence located in the same county, based on the most recent year

1for which such data is available. For purposes of this subdivision, the median price
2of a single-family residence in the applicable county shall be determined by the
3county.
AB905,4,54 7. If a married couple files a joint return only one spouse may claim the credit
5under this subsection.
AB905,4,76 8. If a married couple files separate returns, the maximum amount that each
7spouse may claim under this subsection is $7,500.
AB905,4,128 9. A claimant may not file a claim under this subsection until the project to
9which the claim relates is complete. For purposes of this subsection, a project is
10complete when all of the following conditions are satisfied, and proof of satisfaction
11is filed with the department, along with the claimant's income tax return, on a form
12prepared by the department:
AB905,4,1413 a. All building and other permits required by the state and the municipality
14in which the eligible housing is located, which relate to the project, have been issued.
AB905,4,1615 b. All building inspections related to the project have been completed and
16approved by the municipal or state building inspector.
AB905,4,1817 10. The Wisconsin adjusted basis of the eligible housing shall be reduced by the
18amount of any credit received under this subsection.
AB905,4,2119 11. No credit may be claimed under this subsection for any qualified
20rehabilitation expenditure that is also used as the basis to claim the credit under s.
2171.07 (9m) or (9r).
AB905,4,2522 12. If the eligible housing is owned by 2 or more individuals who hold legal title
23or equitable title as a land contract vendee and are not joint tenants, tenants in
24common, or spouses owning marital property, the credit under this subsection may
25be claimed as follows:
AB905,5,2
1a. For projects benefitting one owner, an individual may claim the credit based
2on qualified rehabilitation expenditures incurred individually.
AB905,5,53 b. For projects benefitting 2 or more owners, an individual may claim the credit
4based on qualified rehabilitation expenditures incurred by the benefitting owners in
5proportion to the individual's ownership interest.
AB905,5,76 (d) Administration. Subsection (9e) (d), to the extent that it applies to the credit
7under that subsection, applies to the credit under this subsection.
AB905,3 8Section 3 . 71.10 (4) (i) of the statutes, as affected by 2019 Wisconsin Act 54,
9is amended to read:
AB905,5,2510 71.10 (4) (i) The total of claim of right credit under s. 71.07 (1), farmland
11preservation credit under ss. 71.57 to 71.61, farmland preservation credit, 2010 and
12beyond under s. 71.613, homestead credit under subch. VIII, farmland tax relief
13credit under s. 71.07 (3m), dairy manufacturing facility investment credit under s.
1471.07 (3p), jobs tax credit under s. 71.07 (3q), meat processing facility investment
15credit under s. 71.07 (3r), woody biomass harvesting and processing credit under s.
1671.07 (3rm), food processing plant and food warehouse investment credit under s.
1771.07 (3rn), business development credit under s. 71.07 (3y), research credit under
18s. 71.07 (4k) (e) 2. a., film production services credit under s. 71.07 (5f), film
19production company investment credit under s. 71.07 (5h), veterans and surviving
20spouses property tax credit under s. 71.07 (6e), older housing rehabilitation credit
21under s. 71.07 (8m),
enterprise zone jobs credit under s. 71.07 (3w), electronics and
22information technology manufacturing zone credit under s. 71.07 (3wm), beginning
23farmer and farm asset owner tax credit under s. 71.07 (8r), earned income tax credit
24under s. 71.07 (9e), estimated tax payments under s. 71.09, and taxes withheld under
25subch. X.
AB905,4
1Section 4. Initial applicability.
AB905,6,52 (1) This act first applies to taxable years beginning on January 1 of the year
3in which this subsection takes effect, except that if this subsection takes effect after
4July 31, this act first applies to taxable years beginning on January 1 of the year
5following the year in which this subsection takes effect.
AB905,6,66 (End)
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