Wisconsin Legislature: AB395,38

AB395,16 24Section 16. 71.07 (3rn) of the statutes is repealed.

AB395,17 25Section 17. 71.07 (5f) of the statutes is repealed.

1Section 18. 71.07 (5h) of the statutes is repealed.

AB395,19 2Section 19. 71.07 (8r) of the statutes is repealed.

AB395,20 3Section 20. 71.08 (1) (intro.) of the statutes is amended to read:

AB395,4,134 71.08 (1) Imposition. (intro.) If the tax imposed on a natural person, married
5couple filing jointly, trust, or estate under s. 71.02, not considering the credits under
6ss. 71.07 (1), (2dx), (2dy), (3m), (3n), (3p), (3q), (3r), (3rm), (3rn), (3s), (3t), (3w),
7(3wm), (3y), (4k), (5b), (5d), (5e), (5f), (5h), (5i), (5j), (5n), (6), (6e), (8b), (8r), (9e), (9m),
8and (9r), 71.28 (1dx), (1dy), (2m), (3), (3n), (3t), (3w), (3wm), and (3y), 71.47 (1dx),
9(1dy), (2m), (3), (3n), (3t), (3w), and (3y), 71.57 to 71.61, and 71.613 and subch. VIII
10and payments to other states under s. 71.07 (7), is less than the tax under this
11section, there is imposed on that natural person, married couple filing jointly, trust
12or estate, instead of the tax under s. 71.02, an alternative minimum tax computed
13as follows:

AB395,21 14Section 21. 71.10 (4) (i) of the statutes is amended to read:

AB395,5,415 71.10 (4) (i) The total of claim of right credit under s. 71.07 (1), farmland
16preservation credit under ss. 71.57 to 71.61, farmland preservation credit, 2010 and
17beyond under s. 71.613, homestead credit under subch. VIII, farmland tax relief
18credit under s. 71.07 (3m), dairy manufacturing facility investment credit under s.
1971.07 (3p), jobs tax credit under s. 71.07 (3q), meat processing facility investment
20credit under s. 71.07 (3r), woody biomass harvesting and processing credit under s.
2171.07 (3rm), food processing plant and food warehouse investment credit under s.
2271.07 (3rn), business development credit under s. 71.07 (3y), research credit under
23s. 71.07 (4k) (e) 2. a., film production services credit under s. 71.07 (5f), film
24production company investment credit under s. 71.07 (5h), veterans and surviving
25spouses property tax credit under s. 71.07 (6e), enterprise zone jobs credit under s.

171.07 (3w), electronics and information technology manufacturing zone credit under
2s. 71.07 (3wm), beginning farmer and farm asset owner tax credit under s. 71.07 (8r),
3earned income tax credit under s. 71.07 (9e), estimated tax payments under s. 71.09,
4and taxes withheld under subch. X.

AB395,22 5Section 22. 71.10 (7e) (c) 1. of the statutes is renumbered 71.10 (7e) (c).

AB395,23 6Section 23. 71.10 (7e) (c) 2. of the statutes is repealed.

AB395,24 7Section 24. 71.21 (4) (a) of the statutes is amended to read:

AB395,5,118 71.21 (4) (a) The amount of the credits computed by a partnership under s.
971.07 (2dm), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3s), (3t), (3w),
10(3wm), (3y), (4k), (4n), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (6n), (8r), and
11(10) and passed through to partners shall be added to the partnership's income.

AB395,25 12Section 25. 71.26 (2) (a) 4. of the statutes is amended to read:

AB395,5,1813 71.26 (2) (a) 4. Plus the amount of the credit computed under s. 71.28 (1dm),
14(1dx), (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3t), (3w), (3wm), (3y), (5e),
15(5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (6n), (8r), (9s), and (10) and not passed
16through by a partnership, limited liability company, or tax-option corporation that
17has added that amount to the partnership's, limited liability company's, or
18tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g).

AB395,26 19Section 26. 71.28 (3p) of the statutes is repealed.

AB395,27 20Section 27. 71.28 (3r) of the statutes is repealed.

AB395,28 21Section 28. 71.28 (3rm) of the statutes is repealed.

AB395,29 22Section 29. 71.28 (3rn) of the statutes is repealed.

AB395,30 23Section 30. 71.28 (5f) of the statutes is repealed.

AB395,31 24Section 31. 71.28 (5h) of the statutes is repealed.

AB395,32 25Section 32. 71.28 (8r) of the statutes is repealed.

AB395,33

1Section 33. 71.30 (3) (f) of the statutes is amended to read:

AB395,6,122 71.30 (3) (f) The total of farmland preservation credit under subch. IX,
3farmland tax relief credit under s. 71.28 (2m), dairy manufacturing facility
4investment credit under s. 71.28 (3p), jobs credit under s. 71.28 (3q), meat processing
5facility investment credit under s. 71.28 (3r), woody biomass harvesting and
6processing credit under s. 71.28 (3rm), food processing plant and food warehouse
7investment credit under s. 71.28 (3rn), enterprise zone jobs credit under s. 71.28
8(3w), electronics and information technology manufacturing zone credit under s.
971.28 (3wm), business development credit under s. 71.28 (3y), research credit under
10s. 71.28 (4) (k) 1., film production services credit under s. 71.28 (5f), film production
11company investment credit under s. 71.28 (5h), beginning farmer and farm asset
12owner tax credit under s. 71.28 (8r), and estimated tax payments under s. 71.29.

AB395,34 13Section 34. 71.34 (1k) (g) of the statutes is amended to read:

AB395,6,1714 71.34 (1k) (g) An addition shall be made for credits computed by a tax-option
15corporation under s. 71.28 (1dm), (1dx), (1dy), (3), (3g), (3h), (3n), (3p), (3q), (3r),
16(3rm), (3rn), (3t), (3w), (3wm), (3y), (4), (5), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r),
17(5rm), (6n), (8r), and (10) and passed through to shareholders.

AB395,35 18Section 35. 71.45 (2) (a) 10. of the statutes is amended to read:

AB395,6,2519 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
20computed under s. 71.47 (1dm) to (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn),
21(3w), (3y), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (6n), (8r), (9s), and (10) and
22not passed through by a partnership, limited liability company, or tax-option
23corporation that has added that amount to the partnership's, limited liability
24company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g) and
25the amount of credit computed under s. 71.47 (1), (3), (3t), (4), (4m), and (5).

AB395,36

1Section 36. 71.47 (3p) of the statutes is repealed.

AB395,37 2Section 37. 71.47 (3r) of the statutes is repealed.

AB395,38 3Section 38. 71.47 (3rm) of the statutes is repealed.

AB395,39 4Section 39. 71.47 (3rn) of the statutes is repealed.

AB395,40 5Section 40. 71.47 (5f) of the statutes is repealed.

AB395,41 6Section 41. 71.47 (5h) of the statutes is repealed.

AB395,42 7Section 42. 71.47 (8r) of the statutes is repealed.

AB395,43 8Section 43. 71.49 (1) (f) of the statutes is amended to read:

AB395,7,189 71.49 (1) (f) The total of farmland preservation credit under subch. IX,
10farmland tax relief credit under s. 71.47 (2m), dairy manufacturing facility
11investment credit under s. 71.47 (3p), jobs credit under s. 71.47 (3q), meat processing
12facility investment credit under s. 71.47 (3r), woody biomass harvesting and
13processing credit under s. 71.47 (3rm), food processing plant and food warehouse
14investment credit under s. 71.47 (3rn), enterprise zone jobs credit under s. 71.47
15(3w), business development credit under s. 71.47 (3y), research credit under s. 71.47
16(4) (k) 1., film production services credit under s. 71.47 (5f), film production company
17investment credit under s. 71.47 (5h), beginning farmer and farm asset owner tax
18credit under s. 71.47 (8r), and estimated tax payments under s. 71.48.

AB395,44 19Section 44. 93.53 of the statutes is repealed.

AB395,45 20Section 45. 93.535 of the statutes is repealed.

AB395,46 21Section 46. 93.54 of the statutes is repealed.

AB395,47 22Section 47. 93.545 of the statutes is repealed.

AB395,48 23Section 48. 93.547 of the statutes is repealed.

AB395,49 24Section 49. Effective dates. This act takes effect on the day after publication,
25except as follows:

AB395,8,5

1(1) Woody biomass harvesting and processing credit. The repeal of ss. 20.835
2(2) (bc), 71.07 (3rm), 71.28 (3rm), 71.47 (3rm), and 93.547 and the amendment of ss.
371.05 (6) (a) 15. and (b) 47. b., 71.08 (1) (intro.), 71.10 (4) (i), 71.21 (4) (a), 71.26 (2)
4(a) 4., 71.30 (3) (f), 71.34 (1k) (g), 71.45 (2) (a) 10., and 71.49 (1) (f) (as they relate to
5the woody biomass harvesting and processing credit) take effect on July 1, 2020.

AB395,8,66 (End)