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LRBa0130/1
JK:cjs
2021 - 2022 LEGISLATURE
ASSEMBLY AMENDMENT 2,
TO ASSEMBLY SUBSTITUTE AMENDMENT 1,
TO ASSEMBLY BILL 2
February 10, 2021 - Offered by Joint Committee on Finance.
AB2-ASA1-AA2,1,11 At the locations indicated, amend the substitute amendment as follows:
AB2-ASA1-AA2,1,2 21. Page 15, line 16: after that line insert:
AB2-ASA1-AA2,1,3 3 Section 25m. 71.05 (6) (a) 30. of the statutes is created to read:
AB2-ASA1-AA2,1,74 71.05 (6) (a) 30. For taxable years beginning after December 31, 2018, the
5amount of the deductions in excess of $250,000 for expenses paid or incurred in the
6taxable year directly or indirectly from forgiven loans under sections 276 (a) and (b)
7and 278 (a) of Division N of P.L. 116-260.”.
AB2-ASA1-AA2,1,8 82. Page 26, line 18: after that line insert:
AB2-ASA1-AA2,1,9 9 Section 53m. 71.26 (2) (a) 13. of the statutes is created to read:
AB2-ASA1-AA2,2,210 71.26 (2) (a) 13. For taxable years beginning after December 31, 2018, plus the
11amount of the deductions in excess of $250,000 for expenses paid or incurred in the

1taxable year directly or indirectly from forgiven loans under sections 276 (a) and (b)
2and 278 (a) of Division N of P.L. 116-260.”.
AB2-ASA1-AA2,2,3 33. Page 34, line 19: after that line insert:
AB2-ASA1-AA2,2,4 4 Section 70m. 71.34 (1k) (q) of the statutes is created to read:
AB2-ASA1-AA2,2,85 71.34 (1k) (q) For taxable years beginning after December 31, 2018, an addition
6shall be made for the amount of the deductions in excess of $250,000 for expenses
7paid or incurred in the taxable year directly or indirectly from forgiven loans under
8sections 276 (a) and (b) and 278 (a) of Division N of P.L. 116-260.”.
AB2-ASA1-AA2,2,9 94. Page 38, line 6: after that line insert:
AB2-ASA1-AA2,2,10 10 Section 80m. 71.45 (2) (a) 22. of the statutes is created to read:
AB2-ASA1-AA2,2,1411 71.45 (2) (a) 22. For taxable years beginning after December 31, 2018, by
12adding to federal taxable income the amount of the deductions in excess of $250,000
13for expenses paid or incurred in the taxable year directly or indirectly from forgiven
14loans under sections 276 (a) and (b) and 278 (a) of Division N of P.L. 116-260.”.
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