Amendment AA1-SB70

SB70-AA1,1195 Section 1195. 71.54 (1) (h) of the statutes is created to read:

SB70-AA1,548,3 71.54 (1) (h) 2024 and thereafter. Subject to sub. (2m), the amount of any claim filed in 2024 and thereafter and based on property taxes accrued or rent constituting property taxes accrued during the previous year is limited as follows:

SB70-AA1,548,6 1. If the household income was $8,060 or less in the year to which the claim relates, the claim is limited to 80 percent of the property taxes accrued or rent constituting property taxes accrued or both in that year on the claimant's homestead.

SB70-AA1,548,11 2. If the household income was more than $8,060 in the year to which the claim relates, the claim is limited to 80 percent of the amount by which the property taxes accrued or rent constituting property taxes accrued or both in that year on the claimant's homestead exceeds 5.614 percent of the household income exceeding $8,060.

SB70-AA1,548,12 3. No credit may be allowed if the household income exceeds $35,000.

SB70-AA1,548,14 4. Notwithstanding the time limitations described in par. (g) (intro.), the provisions of par. (g) 4. apply to claims filed under this paragraph.

SB70-AA1,1196 Section 1196. 71.54 (2) (b) 4. of the statutes is amended to read:

SB70-AA1,548,17 71.54 (2) (b) 4. In calendar years 2011 or any subsequent calendar year to 2022, $1,460.

SB70-AA1,1197 Section 1197. 71.54 (2) (b) 5. of the statutes is created to read:

SB70-AA1,548,20 71.54 (2) (b) 5. Subject to sub. (2m), in calendar year 2023 or any subsequent calendar year, $1,460.

SB70-AA1,1198 Section 1198. 71.54 (2m) of the statutes is amended to read:

SB70-AA1,549,14 71.54 (2m) Indexing for inflation; 2010 2024 and thereafter. (a) For calendar years beginning after December 31, 2009, and before January 1, 2011 2023, the dollar amounts of the threshold income under sub. (1) (f) (h) 1. and 2., the maximum household income under sub. (1) (f) (h) 3., and the maximum property taxes under sub. (2) (b) 3. 5. shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the 12-month average of the U.S. consumer price index for the month of August of the year before the previous year through the month of July of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the 12-month average of the U.S. consumer price index for August 2007 2021 through July 2008 2022, as determined by the federal department of labor, except that the adjustment may occur only if the percentage is a positive number. Each amount that is revised under this paragraph shall be rounded to the nearest multiple of $10 if the revised amount is not a multiple of $10 or, if the revised amount is a multiple of $5, such an amount shall be increased to the next higher multiple of $10. The department of revenue shall annually adjust the changes in dollar amounts required under this paragraph and incorporate the changes into the income tax forms and instructions.

SB70-AA1,549,20 (b) The department of revenue shall annually adjust the slope under sub. (1) (f) (h) 2. such so that, as a claimant's income increases from the threshold income as calculated adjusted under par. (a), to an amount that exceeds the maximum household income as calculated adjusted under par. (a), the credit that may be claimed is reduced to $0, and the department of revenue shall incorporate the changes into the income tax forms and instructions.

SB70-AA1,9337 Section 9337. Initial applicability; Revenue.

SB70-AA1,549,23 (1e) Homestead tax credit. The treatment of s. 71.54 (1) (h) first applies to claims filed for taxable years beginning after December 31, 2022.”.

SB70-AA1,549,24 199. Page 374, line 11: after that line insert:

SB70-AA1,550,1 “ Section 9101. Nonstatutory provisions; Administration.

SB70-AA1,550,5 (1) Enterprise zone tax credit funding reestimate. The secretary of administration shall reestimate the sum sufficient appropriation under s. 20.835 (2) (co) by increasing funding for the enterprise zone program by $525,000 in the 2024-25 fiscal year.”.

SB70-AA1,550,6 200. Page 374, line 11: after that line insert:

SB70-AA1,550,7 “ Section 1199. 71.07 (3y) (b) 5. of the statutes is amended to read:

SB70-AA1,550,15 71.07 (3y) (b) 5. An For taxable years beginning before January 1, 2023, an amount, as determined by the Wisconsin Economic Development Corporation under s. 238.308 (4) (a) 5., equal to a percentage of the amount of wages that the claimant paid to an eligible employee in the taxable year if the position in which the eligible employee was employed was created or retained in connection with the claimant's location or retention of the claimant's corporate headquarters in Wisconsin and the job duties associated with the eligible employee's position involve the performance of corporate headquarters functions.

SB70-AA1,1200 Section 1200. 71.07 (3y) (b) 5m. of the statutes is created to read:

SB70-AA1,550,22 71.07 (3y) (b) 5m. For taxable years beginning after December 31, 2022, an amount, as determined by the Wisconsin Economic Development Corporation under s. 238.308 (4) (a) 5., equal to a percentage of the amount of wages that the claimant paid to an eligible employee in the taxable year if the position in which the eligible employee was employed was created or retained in connection with the claimant's location or retention of the claimant's corporate headquarters in Wisconsin.

SB70-AA1,1201 Section 1201. 71.28 (3y) (b) 5. of the statutes is amended to read:

SB70-AA1,551,8 71.28 (3y) (b) 5. An For taxable years beginning before January 1, 2023, an amount, as determined by the Wisconsin Economic Development Corporation under s. 238.308 (4) (a) 5., equal to a percentage of the amount of wages that the claimant paid to an eligible employee in the taxable year if the position in which the eligible employee was employed was created or retained in connection with the claimant's location or retention of the claimant's corporate headquarters in Wisconsin and the job duties associated with the eligible employee's position involve the performance of corporate headquarters functions.

SB70-AA1,1202 Section 1202. 71.28 (3y) (b) 5m. of the statutes is created to read:

SB70-AA1,551,15 71.28 (3y) (b) 5m. For taxable years beginning after December 31, 2022, an amount, as determined by the Wisconsin Economic Development Corporation under s. 238.308 (4) (a) 5., equal to a percentage of the amount of wages that the claimant paid to an eligible employee in the taxable year if the position in which the eligible employee was employed was created or retained in connection with the claimant's location or retention of the claimant's corporate headquarters in Wisconsin.

SB70-AA1,1203 Section 1203. 71.47 (3y) (b) 5. of the statutes is amended to read:

SB70-AA1,551,24 71.47 (3y) (b) 5. An For taxable years beginning before January 1, 2023, an amount, as determined by the Wisconsin Economic Development Corporation under s. 238.308 (4) (a) 5., equal to a percentage of the amount of wages that the claimant paid to an eligible employee in the taxable year if the position in which the eligible employee was employed was created or retained in connection with the claimant's location or retention of the claimant's corporate headquarters in Wisconsin and the job duties associated with the eligible employee's position involve the performance of corporate headquarters functions.

SB70-AA1,1204 Section 1204. 71.47 (3y) (b) 5m. of the statutes is created to read:

SB70-AA1,552,6 71.47 (3y) (b) 5m. For taxable years beginning after December 31, 2022, an amount, as determined by the Wisconsin Economic Development Corporation under s. 238.308 (4) (a) 5., equal to a percentage of the amount of wages that the claimant paid to an eligible employee in the taxable year if the position in which the eligible employee was employed was created or retained in connection with the claimant's location or retention of the claimant's corporate headquarters in Wisconsin.

SB70-AA1,1205 Section 1205. 238.308 (4) (a) 3. of the statutes is amended to read:

SB70-AA1,552,15 238.308 (4) (a) 3. An amount equal to up to 50 percent of the person's training costs incurred to undertake activities to enhance an eligible employee's general knowledge, employability, and flexibility in the workplace; to develop skills unique to the person's workplace or equipment; or to develop skills that will increase the quality of the person's product upgrade or improve the job-related skills of an eligible employee, train an eligible employee on the use of job-related new technologies, or provide job-related training to an eligible employee whose employment with the person represents the employee's first full-time job.

SB70-AA1,1206 Section 1206. 238.308 (4) (a) 5. of the statutes is amended to read:

SB70-AA1,552,22 238.308 (4) (a) 5. An amount, as determined by the corporation, equal to a percentage of the amount of wages that the person paid to an eligible employee in the taxable year, if the position in which the eligible employee was employed was created or retained in connection with the person's location or retention of the person's corporate headquarters in Wisconsin and the job duties associated with the eligible employee's position involve the performance of corporate headquarters functions.”.

SB70-AA1,552,23 201. Page 374, line 11: after that line insert:

SB70-AA1,552,24 “ Section 1207. 71.07 (3y) (b) 6. of the statutes is created to read:

SB70-AA1,553,5 71.07 (3y) (b) 6. For taxable years beginning after December 31, 2023, an amount, as determined by the Wisconsin Economic Development Corporation under s. 238.308 (4) (a) 6., equal to a percentage, not to exceed 25 percent, of the claimant's energy efficiency or renewable energy project expenditures on real or personal property located in this state.

SB70-AA1,1208 Section 1208. 71.28 (3y) (b) 6. of the statutes is created to read:

SB70-AA1,553,11 71.28 (3y) (b) 6. For taxable years beginning after December 31, 2023, an amount, as determined by the Wisconsin Economic Development Corporation under s. 238.308 (4) (a) 6., equal to a percentage, not to exceed 25 percent, of the claimant's energy efficiency or renewable energy project expenditures on real or personal property located in this state.

SB70-AA1,1209 Section 1209. 71.47 (3y) (b) 6. of the statutes is created to read:

SB70-AA1,553,17 71.47 (3y) (b) 6. For taxable years beginning after December 31, 2023, an amount, as determined by the Wisconsin Economic Development Corporation under s. 238.308 (4) (a) 6., equal to a percentage, not to exceed 25 percent, of the claimant's energy efficiency or renewable energy project expenditures on real or personal property located in this state.

SB70-AA1,1210 Section 1210. 238.308 (4) (a) 6. of the statutes is created to read:

SB70-AA1,553,23 238.308 (4) (a) 6. An amount equal to up to 25 percent of the person's energy efficiency or renewable energy project expenditures on real or personal property located in this state. When making an award under this subdivision, the corporation shall ensure that the percentage of expenditures taken into account positively correlates to the scale of the project.

SB70-AA1,9349 Section 9349. Initial applicability; Wisconsin Economic Development Corporation.

SB70-AA1,554,3 (1) Energy efficiency and renewable energy project expenditures for business development tax credit. The treatment of s. 238.308 (4) (a) 6. first applies to credits awarded under s. 238.308 on January 1, 2024.”.

SB70-AA1,554,4 202. Page 374, line 11: after that line insert:

SB70-AA1,554,5 “ Section 1211. 71.07 (5n) (d) 2. of the statutes is amended to read:

SB70-AA1,554,14 71.07 (5n) (d) 2. For Except as provided in subd. 2m., 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. This subdivision does not apply if the claimant's entire qualified production activities income results from the sale of tangible personal property that was manufactured, produced, grown, or extracted wholly in this state by the claimant.

SB70-AA1,1212 Section 1212. 71.07 (5n) (d) 2m. of the statutes is created to read:

SB70-AA1,554,23 71.07 (5n) (d) 2m. For taxable years beginning after December 31, 2022, 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. This subdivision does not apply if the claimant's entire qualified production activities income results from the sale of tangible personal property that was manufactured, produced, grown, or extracted wholly in this state by the claimant.

SB70-AA1,1213 Section 1213. 71.28 (5n) (d) 2. of the statutes is amended to read:

SB70-AA1,555,9 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. This subdivision does not apply if the claimant's entire qualified production activities income results from the sale of tangible personal property that was manufactured, produced, grown, or extracted wholly in this state by the claimant.

SB70-AA1,1214 Section 1214. 71.28 (5n) (d) 2m. of the statutes is created to read:

SB70-AA1,555,19 71.28 (5n) (d) 2m. Except as provided in subd. 3., for taxable years beginning after December 31, 2022, 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. This subdivision does not apply if the claimant's entire qualified production activities income results from the sale of tangible personal property that was manufactured, produced, grown, or extracted wholly in this state by the claimant.

SB70-AA1,1215 Section 1215. 71.28 (5n) (d) 3. a. of the statutes is amended to read:

SB70-AA1,555,22 71.28 (5n) (d) 3. a. The eligible qualified production activities income determined under subd. 2. or 2m.”.

SB70-AA1,555,23 203. Page 374, line 11: after that line insert:

SB70-AA1,555,24 “ Section 1216. 71.07 (4k) (e) 2. a. of the statutes is amended to read:

SB70-AA1,556,11 71.07 (4k) (e) 2. a. For taxable years beginning before January 1, 2021, 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. (b) 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). For subsequent taxable years beginning after December 31, 2020 and before January 1, 2024, the amount of the claim not used to offset the tax due, up to 15 percent of the allowable amount of the claim under par. (b) 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).

SB70-AA1,1217 Section 1217. 71.07 (4k) (e) 2. ad. of the statutes is created to read:

SB70-AA1,556,18 71.07 (4k) (e) 2. ad. For taxable years beginning after December 31, 2023, the amount of the claim not used to offset the tax due, not to exceed 50 percent of the allowable amount of the claim under par. (b) 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).

SB70-AA1,1218 Section 1218. 71.07 (4k) (e) 2. b. of the statutes is amended to read:

SB70-AA1,556,25 71.07 (4k) (e) 2. b. The amount of the claim not used to offset the tax due and not certified for payment under subd. 2. a. or 2. ad. may be carried forward and credited against Wisconsin income 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.

SB70-AA1,1219 Section 1219. 71.28 (4) (k) 1. b. of the statutes is amended to read:

SB70-AA1,557,7 71.28 (4) (k) 1. b. For taxable years beginning after December 31, 2020 and before January 1, 2024, the amount of the claim not used to offset the tax due, up to 15 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).

SB70-AA1,1220 Section 1220. 71.28 (4) (k) 1. c. of the statutes is created to read:

SB70-AA1,557,14 71.28 (4) (k) 1. c. For taxable years beginning after December 31, 2023, the amount of the claim not used to offset the tax due, not to exceed 50 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).

SB70-AA1,1221 Section 1221. 71.47 (4) (k) 1. b. of the statutes is amended to read:

SB70-AA1,557,21 71.47 (4) (k) 1. b. For taxable years beginning after December 31, 2020 and before January 1, 2024, the amount of the claim not used to offset the tax due, up to 15 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).

SB70-AA1,1222 Section 1222. 71.47 (4) (k) 1. c. of the statutes is created to read:

SB70-AA1,558,3 71.47 (4) (k) 1. c. For taxable years beginning after December 31, 2023, the amount of the claim not used to offset the tax due, not to exceed 50 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).”.

SB70-AA1,558,4 204. Page 374, line 11: after that line insert:

SB70-AA1,558,5 “ Section 1223. 71.05 (1) (am) of the statutes is amended to read:

SB70-AA1,558,8 71.05 (1) (am) Military retirement systems. All retirement payments received from the U.S. military employee retirement system, to the extent that such payments are not exempt under par. (a) or sub. (6) (b) 54. or 54m.

SB70-AA1,1224 Section 1224. 71.05 (1) (an) of the statutes is amended to read:

SB70-AA1,558,14 71.05 (1) (an) Uniformed services retirement benefits. All retirement payments received from the U.S. government that relate to service with the coast guard, the commissioned corps of the national oceanic and atmospheric administration, or the commissioned corps of the public health service, to the extent that such payments are not exempt under par. (a) or (am) or sub. (6) (b) 54. or 54m.

SB70-AA1,1225 Section 1225. 71.05 (6) (b) 54. (intro.) of the statutes is amended to read:

SB70-AA1,558,21 71.05 (6) (b) 54. (intro.) Except for a payment that is exempt under sub. (1) (a), (am), or (an), or that is exempt as a railroad retirement benefit, for taxable years beginning after December 31, 2020, and before January 1, 2023, up to $5,000 of payments or distributions received each year by an individual from a qualified retirement plan under the Internal Revenue Code or from an individual retirement account established under 26 USC 408, if all of the following conditions apply:

SB70-AA1,1226 Section 1226. 71.05 (6) (b) 54m. of the statutes is created to read:

SB70-AA1,559,4 71.05 (6) (b) 54m. Except for a payment that is exempt under sub. (1) (a), (am), or (an), or that is exempt as a railroad retirement benefit, for taxable years beginning after December 31, 2022, up to $5,500 of payments or distributions received each year by an individual from a qualified retirement plan under the Internal Revenue Code or from an individual retirement account established under 26 USC 408, if all of the following conditions apply:

SB70-AA1,559,6 a. The individual is at least 65 years of age before the close of the taxable year to which the exemption claim relates.

SB70-AA1,559,9 b. If the individual is single or files as head of household, his or her federal adjusted gross income in the year to which the exemption claim relates is less than $30,000.

SB70-AA1,559,11 c. If the individual is married and is a joint filer, the couple's federal adjusted gross income in the year to which the exemption claim relates is less than $60,000.

SB70-AA1,559,14 d. If the individual is married and files a separate return, the sum of both spouses' federal adjusted gross income in the year to which the exemption claim relates is less than $60,000.

SB70-AA1,1227 Section 1227. 71.83 (1) (a) 6. of the statutes is amended to read:

SB70-AA1,559,21 71.83 (1) (a) 6. `Retirement plans.' Any natural person who is liable for a penalty for federal income tax purposes under section 72 (m) (5), (q), (t), and (v), 4973, 4974, 4975, or 4980A of the Internal Revenue Code is liable for 33 percent of the federal penalty unless the income received is exempt from taxation under s. 71.05 (1) (a) or (6) (b) 54. or 54m. The penalties provided under this subdivision shall be assessed, levied, and collected in the same manner as income or franchise taxes.”.

SB70-AA1,559,22 205. Page 374, line 11: after that line insert:

SB70-AA1,559,24 “ Section 1228. 71.07 (9g) (b) of the statutes is renumbered 71.07 (9g) (b) 1. and amended to read: