SB59: Bill Text

SB59,933 Section 933. 71.28 (1dx) (a) 5. of the statutes is amended to read:

SB59,634,18 71.28 (1dx) (a) 5. “Member of a targeted group" means a person who resides in an area designated by the federal government as an economic revitalization area, a person who is employed in an unsubsidized job but meets the eligibility requirements under s. 49.145 (2) and (3) for a Wisconsin Works employment position, a person who is employed in a trial job, as defined in s. 49.141 (1) (n), 2011 stats., or in a trial employment match program job subsidized employment placement, as defined in s. 49.141 (1) (n) (Lm), a person who is eligible for child care assistance under s. 49.155, a person who is a vocational rehabilitation referral, an economically disadvantaged youth, an economically disadvantaged veteran, a supplemental security income recipient, a general assistance recipient, an economically disadvantaged ex-convict, a qualified summer youth employee, as defined in 26 USC 51 (d) (7), a dislocated worker, as defined in 29 USC 2801 (9), or a food stamp recipient, if the person has been certified in the manner under s. 71.28 (1dj) (am) 3., 2013 stats., by a designated local agency, as defined in s. 71.28 (1dj) (am) 2., 2013 stats.

SB59,934 Section 934. 71.28 (4) (k) 1. of the statutes is amended to read:

SB59,635,2 71.28 (4) (k) 1. The For taxable years beginning after December 31, 2017, and before January 1, 2020, the amount of the claim not used to offset the tax due, not to exceed 10 percent of the allowable amount of the claim under par. (ad) 4., 5., or 6., shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation account under s. 20.835 (2) (d). A person who is certified to claim tax benefits under s. 238.396 (3) or (3m) is not eligible to receive the payment under this subdivision.

SB59,935 Section 935. 71.28 (4) (k) 1m. of the statutes is created to read:

SB59,635,10 71.28 (4) (k) 1m. For taxable years beginning after December 31, 2019, the amount of the claim not used to offset the tax due, not to exceed 20 percent of the allowable amount of the claim under par. (ad) 4., 5., or 6., shall be certified by the department of revenue to the department of administration for payment from the appropriation account under s. 20.835 (2) (d). A person who is certified to claim tax benefits under s. 238.396 (3) or (3m) is not eligible to receive the payment under this subdivision.

SB59,936 Section 936. 71.28 (4) (k) 2. of the statutes is amended to read:

SB59,635,17 71.28 (4) (k) 2. The amount of the claim not used to offset the tax due and not certified for payment under subd. 1. or 1m. may be carried forward and credited against Wisconsin income or franchise taxes otherwise due for the following 15 taxable years to the extent not offset by these taxes otherwise due in all intervening years between the year in which the expense was incurred and the year in which the carry-forward credit is claimed.

SB59,937 Section 937. 71.28 (5n) (d) 2. of the statutes is amended to read:

SB59,635,24 71.28 (5n) (d) 2. Except as provided in subd. subds. 2m. and 3., for purposes of determining a claimant's eligible qualified production activities income under this subsection, the claimant shall multiply the claimant's qualified production activities income from property manufactured by the claimant by the manufacturing property factor and qualified production activities income from property produced, grown, or extracted by the claimant by the agriculture property factor.

SB59,938 Section 938. 71.28 (5n) (d) 2m. of the statutes is created to read:

SB59,636,6 71.28 (5n) (d) 2m. Except as provided in subd. 3., for taxable years beginning after December 31, 2018, for purposes of determining a claimant's eligible qualified production activities income from manufacturing under this subsection, the claimant shall multiply the claimant's qualified production activities income, not exceeding $300,000, from property manufactured by the claimant by the manufacturing property factor.

SB59,939 Section 939. 71.28 (5n) (d) 3. a. of the statutes is amended to read:

SB59,636,9 71.28 (5n) (d) 3. a. The eligible qualified production activities income determined under subd. 2. or 2m.

SB59,940 Section 940. 71.28 (6) (a) 3. of the statutes is amended to read:

SB59,636,24 71.28 (6) (a) 3. For taxable years beginning after December 31, 2013, and before January 1, 2019, any person may claim as a credit against taxes otherwise due under s. 71.23, up to the amount of those taxes, an amount equal to 20 percent of the costs of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue Code, for qualified rehabilitated buildings, as defined in section 47 (c) (1) of the Internal Revenue Code, on property located in this state, if the cost of the person's qualified rehabilitation expenditures is at least $50,000 and the rehabilitated property is placed in service after December 31, 2013, and regardless of whether the rehabilitated property is used for multiple or revenue-producing purposes. No credit may be claimed under this subdivision for property listed as a contributing building in the state register of historic places or in the national register of historic places and no credit may be claimed under this subdivision for nonhistoric, nonresidential property converted into housing if the property has been previously used for housing.

SB59,941 Section 941. 71.28 (6) (cn) (intro.) of the statutes is amended to read:

SB59,637,3 71.28 (6) (cn) (intro.) For taxable years beginning after December 31, 2014, and before January 1, 2019, the Wisconsin Economic Development Corporation shall certify a person to claim a credit under par. (a) 3. if all of the following apply:

SB59,942 Section 942. 71.28 (6) (e) of the statutes is renumbered 71.28 (6) (e) 1.

SB59,943 Section 943. 71.28 (6) (e) 2. of the statutes is created to read:

SB59,637,9 71.28 (6) (e) 2. No credit may be claimed under par. (a) 3. for taxable years beginning after December 31, 2018. Credits under par. (a) 3. for taxable years that begin before January 1, 2019, may be carried forward to taxable years that begin after December 31, 2018.

SB59,944 Section 944 . 71.30 (3) (f) of the statutes is amended to read:

SB59,637,22 71.30 (3) (f) The total of farmland preservation credit under subch. IX, farmland tax relief credit under s. 71.28 (2m), dairy manufacturing facility investment credit under s. 71.28 (3p), jobs credit under s. 71.28 (3q), meat processing facility investment credit under s. 71.28 (3r), woody biomass harvesting and processing credit under s. 71.28 (3rm), food processing plant and food warehouse investment credit under s. 71.28 (3rn), enterprise zone jobs credit under s. 71.28 (3w), electronics and information technology manufacturing zone credit under s. 71.28 (3wm), business development credit under s. 71.28 (3y), research credit under s. 71.28 (4) (k) 1. and 1m., film production services credit under s. 71.28 (5f), film production company investment credit under s. 71.28 (5h), beginning farmer and farm asset owner tax credit under s. 71.28 (8r), and estimated tax payments under s. 71.29.

SB59,945 Section 945. 71.34 (1g) (c) of the statutes is repealed.

SB59,946 Section 946. 71.34 (1g) (j) 3. m. of the statutes is created to read:

SB59,638,2 71.34 (1g) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q) and 104 (a) of division U of P.L. 115-141.

SB59,947 Section 947. 71.34 (1g) (k) 3. of the statutes is amended to read:

SB59,638,7 71.34 (1g) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does not include amendments to the federal Internal Revenue Code enacted after December 31, 2016, except that “Internal Revenue Code” includes sections 11024, 11025, and 13543 of P.L. 115-97 and sections 40307 and 40413 of P.L. 115-123.

SB59,948 Section 948. 71.34 (1g) (L) 1. of the statutes is amended to read:

SB59,638,12 71.34 (1g) (L) 1. For taxable years beginning after December 31, 2017, and before January 1, 2019, for tax option corporations, “Internal Revenue Code" means the federal Internal Revenue Code as amended to December 31, 2017, except as provided in subds. 2., 3., and 5. and s. 71.98 and subject to subd. 4.

SB59,949 Section 949. 71.34 (1g) (L) 4. of the statutes is amended to read:

SB59,638,19 71.34 (1g) (L) 4. For purposes of this paragraph, the provisions of federal public laws that directly or indirectly affect the Internal Revenue Code, as defined in this paragraph, apply for Wisconsin purposes at the same time as for federal purposes, except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207, 13306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97 first apply for taxable years beginning after December 31, 2017.

SB59,950 Section 950. 71.34 (1g) (m) of the statutes is created to read:

SB59,638,24 71.34 (1g) (m) 1. For taxable years beginning after December 31, 2018, for tax option corporations, “Internal Revenue Code" means the federal Internal Revenue Code as amended to December 31, 2018, except as provided in subds. 2., 3., and 5. and s. 71.98 and subject to subd. 4.

SB59,639,21 2. For purposes of this paragraph, “Internal Revenue Code" does not include the following provisions of federal public laws for taxable years beginning after December 31, 2018: section 13113 of P.L. 103-66; sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422 of P.L. 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; sections 104 and 307 of P.L. 109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A, section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232, 1241, 1251, 1501, and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214, and 216 of P.L. 111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754, and 760 of P.L. 111-312; section 1106 of P.L. 112-95; sections 104, 318, 322, 323, 324, 326, 327, and 411 of P.L. 112-240; P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113; sections 11011, 13201 (a) to (e) and (g), 13801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215, 14221, 14222, 14301, 14302, 14304, and 14401 of P.L. 115-97; sections 40304, 40305, 40306, and 40412 of P.L. 115-123; section 101 (c) of division T of P.L. 115-141; and sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13), (17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L. 115-141.

SB59,639,23 3. For purposes of this paragraph, “Internal Revenue Code" does not include amendments to the federal Internal Revenue Code enacted after December 31, 2018.

SB59,640,6 4. For purposes of this paragraph, the provisions of federal public laws that directly or indirectly affect the Internal Revenue Code, as defined in this paragraph, apply for Wisconsin purposes at the same time as for federal purposes, except that changes made by sections 11012, 13221, 13301, 13304 (a) and (b), 13531, and 13601 of P.L. 115-97, 20101, 20102, 20104, 20201, 40201, 40202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116 of PL. 115-123 and section 101 (a), (b), and (h) of division U of P.L. 115-141 apply for taxable years beginning after December 31, 2018.

SB59,640,10 5. For purposes of this paragraph, section 1366 (f) of the Internal Revenue Code (relating to pass-through of items to shareholders) is modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and 1375 of the Internal Revenue Code.

SB59,951 Section 951. 71.34 (1k) (g) of the statutes is amended to read:

SB59,640,15 71.34 (1k) (g) An addition shall be made for credits computed by a tax-option corporation under s. 71.28 (1dm), (1dx), (1dy), (3), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3t), (3w), (3wm), (3y), (4), (5), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (6n), (8b), (8r), and (10) and passed through to shareholders.

SB59,952 Section 952. 71.34 (1k) (o) of the statutes is created to read:

SB59,640,21 71.34 (1k) (o) An addition shall be made for any amount deducted under the Internal Revenue Code as moving expenses, as defined in s. 71.01 (8j), paid or incurred during the taxable year to move the taxpayer's Wisconsin business operation, in whole or in part, to a location outside the state or to move the taxpayer's business operation outside the United States.

SB59,953 Section 953. 71.34 (1u) of the statutes is created to read:

SB59,640,24 71.34 (1u) For purposes of sub. (1g) (b), 2013 stats., “Internal Revenue Code” includes section 109 of division U of P.L. 115-141.

SB59,954 Section 954. 71.42 (2) (c) of the statutes is repealed.

SB59,955 Section 955. 71.42 (2) (j) 3. m. of the statutes is created to read:

SB59,641,3 71.42 (2) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q) and 104 (a) of division U of P.L. 115-141.

SB59,956 Section 956. 71.42 (2) (k) 3. of the statutes is amended to read:

SB59,641,8 71.42 (2) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does not include amendments to the federal Internal Revenue Code enacted after December 31, 2016, except that “Internal Revenue Code” includes sections 11024, 11025, and 13543 of P.L. 115-97 and sections 40307 and 40413 of P.L. 115-123.

SB59,957 Section 957. 71.42 (2) (L) 1. of the statutes is amended to read:

SB59,641,13 71.42 (2) (L) 1. For taxable years beginning after December 31, 2017, and before January 1, 2019, “Internal Revenue Code" means the federal Internal Revenue Code as amended to December 31, 2017, except as provided in subds. 2. to 4. and s. 71.98 and subject to subd. 5.

SB59,958 Section 958. 71.42 (2) (L) 5. of the statutes is amended to read:

SB59,641,20 71.42 (2) (L) 5. For purposes of this paragraph, the provisions of federal public laws that directly or indirectly affect the Internal Revenue Code, as defined in this paragraph, apply for Wisconsin purposes at the same time as for federal purposes, except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207, 13306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97 first apply for taxable years beginning after December 31, 2017.

SB59,959 Section 959. 71.42 (2) (m) of the statutes is created to read:

SB59,641,24 71.42 (2) (m) 1. For taxable years beginning after December 31, 2018, “Internal Revenue Code" means the federal Internal Revenue Code as amended to December 31, 2018, except as provided in subds. 2. to 4. and s. 71.98 and subject to subd. 5.

SB59,642,21 2. For purposes of this paragraph, “Internal Revenue Code" does not include the following provisions of federal public laws for taxable years beginning after December 31, 2018: section 13113 of P.L. 103-66; sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422 of P.L. 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; sections 104 and 307 of P.L. 109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A, section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232, 1241, 1251, 1501, and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214, and 216 of P.L. 111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754, and 760 of P.L. 111-312; section 1106 of P.L. 112-95; sections 104, 318, 322, 323, 324, 326, 327, and 411 of P.L. 112-240; P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113; sections 11011, 13201 (a) to (e) and (g), 13801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215, 14221, 14222, 14301, 14302, 14304, and 14401 of P.L. 115-97; sections 40304, 40305, 40306, and 40412 of P.L. 115-123; section 101 (c) of division T of P.L. 115-141; and sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13), (17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L. 115-141.

SB59,642,23 3. For purposes of this paragraph, “Internal Revenue Code" does not include amendments to the federal Internal Revenue Code enacted after December 31, 2018.

SB59,642,25 4. For purposes of this paragraph, “Internal Revenue Code" does not include section 847 of the federal Internal Revenue Code.

SB59,643,8 5. For purposes of this paragraph, the provisions of federal public laws that directly or indirectly affect the Internal Revenue Code, as defined in this paragraph, apply for Wisconsin purposes at the same time as for federal purposes, except that changes made by sections 11012, 13221, 13301, 13304 (a) and (b), 13531, and 13601 of P.L. 115-97, 20101, 20102, 20104, 20201, 40201, 40202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116 of PL. 115-123 and section 101 (a), (b), and (h) of division U of P.L. 115-141 apply for taxable years beginning after December 31, 2018.

SB59,960 Section 960. 71.42 (2p) of the statutes is created to read:

SB59,643,11 71.42 (2p) For purposes of sub. (2) (b), 2013 stats., “ Internal Revenue Code” includes section 109 of division U of P.L. 115-141.

SB59,961 Section 961. 71.45 (1t) (n) of the statutes is created to read:

SB59,643,16 71.45 (1t) (n) Those issued by the Wisconsin Health and Educational Facilities Authority under s. 231.03 (6), if the bonds or notes are issued in an amount totaling $35,000,000 or less, and to the extent that the interest income received is not otherwise exempt under this subsection.

SB59,962 Section 962. 71.45 (2) (a) 10. of the statutes is amended to read:

SB59,643,24 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit computed under s. 71.47 (1dm) to (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3w), (3y), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (6n), (8b), (8r), (9s), and (10) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, limited liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g) and the amount of credit computed under s. 71.47 (1), (3), (3t), (4), (4m), and (5).

SB59,963 Section 963. 71.45 (2) (a) 20. of the statutes is created to read:

SB59,644,5 71.45 (2) (a) 20. By adding to federal taxable income any amount deducted under the Internal Revenue Code as moving expenses, as defined in s. 71.01 (8j), paid or incurred during the taxable year to move the taxpayer's Wisconsin business operation, in whole or in part, to a location outside the state or to move the taxpayer's business operation outside the United States.

SB59,964 Section 964. 71.47 (1dx) (a) 5. of the statutes is amended to read:

SB59,644,21 71.47 (1dx) (a) 5. “Member of a targeted group" means a person who resides in an area designated by the federal government as an economic revitalization area, a person who is employed in an unsubsidized job but meets the eligibility requirements under s. 49.145 (2) and (3) for a Wisconsin Works employment position, a person who is employed in a trial job, as defined in s. 49.141 (1) (n), 2011 stats., or in a trial employment match program job subsidized employment placement, as defined in s. 49.141 (1) (n) (Lm), a person who is eligible for child care assistance under s. 49.155, a person who is a vocational rehabilitation referral, an economically disadvantaged youth, an economically disadvantaged veteran, a supplemental security income recipient, a general assistance recipient, an economically disadvantaged ex-convict, a qualified summer youth employee, as defined in 26 USC 51 (d) (7), a dislocated worker, as defined in 29 USC 2801 (9), or a food stamp recipient, if the person has been certified in the manner under s. 71.47 (1dj) (am) 3., 2013 stats., by a designated local agency, as defined in s. 71.47 (1dj) (am) 2., 2013 stats.

SB59,965 Section 965. 71.47 (4) (k) 1. of the statutes is amended to read:

SB59,645,4 71.47 (4) (k) 1. The For taxable years beginning after December 31, 2017, and before January 1, 2020, the amount of the claim not used to offset the tax due, not to exceed 10 percent of the allowable amount of the claim under par. (ad) 4., 5., or 6., shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation account under s. 20.835 (2) (d). A person who is certified to claim tax benefits under s. 238.396 (3) or (3m) is not eligible to receive the payment under this subdivision.

SB59,966 Section 966. 71.47 (4) (k) 1m. of the statutes is created to read:

SB59,645,12 71.47 (4) (k) 1m. For taxable years beginning after December 31, 2019, the amount of the claim not used to offset the tax due, not to exceed 20 percent of the allowable amount of the claim under par. (ad) 4., 5., or 6., shall be certified by the department of revenue to the department of administration for payment from the appropriation account under s. 20.835 (2) (d). A person who is certified to claim tax benefits under s. 238.396 (3) or (3m) is not eligible to receive the payment under this subdivision.

SB59,967 Section 967. 71.47 (4) (k) 2. of the statutes is amended to read:

SB59,645,19 71.47 (4) (k) 2. The amount of the claim not used to offset the tax due and not certified for payment under subd. 1. or 1m. may be carried forward and credited against Wisconsin income or franchise taxes otherwise due for the following 15 taxable years to the extent not offset by these taxes otherwise due in all intervening years between the year in which the expense was incurred and the year in which the carry-forward credit is claimed.

SB59,968 Section 968. 71.47 (6) (a) 3. of the statutes is amended to read:

SB59,646,9 71.47 (6) (a) 3. For taxable years beginning after December 31, 2013, and before January 1, 2019, any person may claim as a credit against taxes otherwise due under s. 71.43, up to the amount of those taxes, an amount equal to 20 percent of the costs of qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the Internal Revenue Code, for qualified rehabilitated buildings, as defined in section 47 (c) (1) of the Internal Revenue Code, on property located in this state, if the cost of the person's qualified rehabilitation expenditures is at least $50,000 and the rehabilitated property is placed in service after December 31, 2013, and regardless of whether the rehabilitated property is used for multiple or revenue-providing purposes. No credit may be claimed under this subdivision for property listed as a contributing building in the state register of historic places or in the national register of historic places and no credit may be claimed under this subdivision for nonhistoric, nonresidential property converted into housing if the property has been previously used for housing.

SB59,969 Section 969. 71.47 (6) (cn) (intro.) of the statutes is amended to read:

SB59,646,13 71.47 (6) (cn) (intro.) For taxable years beginning after December 31, 2014, and before January 1, 2019, the Wisconsin Economic Development Corporation shall certify a person to claim a credit under par. (a) 3. if all of the following apply:

SB59,970 Section 970. 71.47 (6) (e) of the statutes is renumbered 71.47 (6) (e) 1.

SB59,971 Section 971. 71.47 (6) (e) 2. of the statutes is created to read:

SB59,646,19 71.47 (6) (e) 2. No credit may be claimed under par. (a) 3. for taxable years beginning after December 31, 2018. Credits under par. (a) 3. for taxable years that begin before January 1, 2019, may be carried forward to taxable years that begin after December 31, 2018.

SB59,972 Section 972 . 71.49 (1) (f) of the statutes is amended to read:

SB59,647,5 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. and 1m., 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.

SB59,973 Section 973. 71.52 (6) of the statutes is amended to read:

SB59,648,20 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, 2017 stats.), 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, 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.

SB59,974 Section 974 . 71.54 (1) (g) (intro.) of the statutes is amended to read:

SB59,648,25 71.54 (1) (g) 2012 and thereafter to 2019. (intro.) The amount of any claim for calendar years beginning before January 1, 2020, filed in 2012 and thereafter and based on property taxes accrued or rent constituting property taxes accrued during the previous year is limited as follows:

SB59,975 Section 975. 71.54 (1) (h) of the statutes is created to read: