SB585: Bill Text

SB585,,4 The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

SB585,1 Section 1. 71.07 (3y) (b) 4. of the statutes is amended to read:

SB585,,6 71.07 (3y) (b) 4. The For taxable years beginning before January 1, 2023, the amount of the personal property investment, not to exceed 3 percent of such investment, and the amount of the real property investment, not to exceed 5 percent of such investment, in a capital investment project that satisfies s. 238.308 (4) (a) 4., as determined by the Wisconsin Economic Development Corporation.

SB585,2 Section 2. 71.07 (3y) (b) 4m. of the statutes is created to read:

SB585,,8 71.07 (3y) (b) 4m. For taxable years beginning after December 31, 2022, the amount of the personal property investment, not to exceed 10 percent of such investment, and the amount of real property investment, not to exceed 10 percent of such investment, in a capital investment project that satisfies s. 238.308 (4) (a) 4m., as determined by the Wisconsin Economic Development Corporation.

SB585,3 Section 3. 71.07 (3y) (b) 6. of the statutes is created to read:

SB585,,10 71.07 (3y) (b) 6. For taxable years beginning after December 31, 2022, the amount of the investment in workforce housing, as defined in s. 234.66 (1) (i), for eligible employees, not to exceed 15 percent of such investment, and the amount of the investment in establishing an employee child care program for eligible employees, not to exceed 15 percent of such investment, as determined by the Wisconsin Economic Development Corporation.

SB585,4 Section 4. 71.28 (3y) (b) 4. of the statutes is amended to read:

SB585,,12 71.28 (3y) (b) 4. The For taxable years beginning before January 1, 2023, the amount of the personal property investment, not to exceed 3 percent of such investment, and the amount of the real property investment, not to exceed 5 percent of such investment, in a capital investment project that satisfies s. 238.308 (4) (a) 4., as determined by the Wisconsin Economic Development Corporation.

SB585,5 Section 5. 71.28 (3y) (b) 4m. of the statutes is created to read:

SB585,,14 71.28 (3y) (b) 4m. For taxable years beginning after December 31, 2022, the amount of the personal property investment, not to exceed 10 percent of such investment, and the amount of the real property investment, not to exceed 10 percent of such investment, in a capital investment project that satisfies s. 238.308 (4) (a) 4m., as determined by the Wisconsin Economic Development Corporation.

SB585,6 Section 6. 71.28 (3y) (b) 6. of the statutes is created to read:

SB585,,16 71.28 (3y) (b) 6. For taxable years beginning after December 31, 2022, the amount of the investment in workforce housing, as defined in s. 234.66 (1) (i), for eligible employees, not to exceed 15 percent of such investment, and the amount of the investment made in establishing an employee child care program for eligible employees, not to exceed 15 percent of such investment, as determined by the Wisconsin Economic Development Corporation.

SB585,7 Section 7. 71.47 (3y) (b) 4. of the statutes is amended to read:

SB585,,18 71.47 (3y) (b) 4. The For taxable years beginning before January 1, 2023, the amount of the personal property investment, not to exceed 3 percent of such investment, and the amount of the real property investment, not to exceed 5 percent of such investment, in a capital investment project that satisfies s. 238.308 (4) (a) 4., as determined by the Wisconsin Economic Development Corporation.

SB585,8 Section 8. 71.47 (3y) (b) 4m. of the statutes is created to read:

SB585,,20 71.47 (3y) (b) 4m. For taxable years beginning after December 31, 2022, the amount of the personal property investment, not to exceed 10 percent of such investment, and the amount of the real property investment, not to exceed 10 percent of such investment, in a capital investment project that satisfies s. 238.308 (4) (a) 4m., as determined by the Wisconsin Economic Development Corporation.

SB585,9 Section 9. 71.47 (3y) (b) 6. of the statutes is created to read:

SB585,,22 71.47 (3y) (b) 6. For taxable years beginning after December 31, 2022, the amount of the investment in workforce housing, as defined in s. 234.66 (1) (i), for eligible employees, not to exceed 15 percent of such investment, and the amount of the investment made in establishing an employee child care program for eligible employees, not to exceed 15 percent of such investment, as determined by the Wisconsin Economic Development Corporation.

SB585,10 Section 10. 238.308 (2) (c) of the statutes is created to read:

SB585,,24 238.308 (2) (c) The corporation shall approve or deny the certification of a person under par. (a) within 90 days after receiving a person’s application for certification.

SB585,11 Section 11. 238.308 (3) of the statutes is renumbered 238.308 (3) (a) and amended to read:

SB585,,26 238.308 (3) (a) A For taxable years beginning before January 1, 2023, a person is eligible to receive tax benefits if, in each year for which the person claims tax benefits under this section, the person increases net employment in this state in the person’s business above the net employment in this state in the person’s business during the year before the person was certified under sub. (2), as determined by the corporation under its policies and procedures.

SB585,12 Section 12. 238.308 (3) (b) of the statutes is created to read:

SB585,,28 238.308 (3) (b) For taxable years beginning after December 31, 2022, a person is eligible to receive tax benefits if, in each year for which the person claims tax benefits under this section, all of the following conditions are met:

SB585,,29 1. The person creates new jobs or retains existing jobs and the person makes a capital investment in this state in the person’s business, as determined by the corporation under its policies and procedures.

SB585,,30 2. The person does not decrease net employment in this state in the person’s business below the net employment in this state in the person’s business during the year before the person is certified under sub. (2), as determined by the corporation under its policies and procedures.

SB585,13 Section 13. 238.308 (4) (a) 4. of the statutes is amended to read:

SB585,,32 238.308 (4) (a) 4. An For taxable years beginning before January 1, 2023, an amount equal to up to 3 percent of the person’s personal property investment and up to 5 percent of the person’s real property investment in a capital investment project, if the project involves a total capital investment of at least $1,000,000 or, if less than $1,000,000, the project involves a capital investment that is equal to at least $10,000 per eligible employee employed on the project.

SB585,14 Section 14. 238.308 (4) (a) 4m. of the statutes is created to read:

SB585,,34 238.308 (4) (a) 4m. For taxable years beginning after December 31, 2022, an amount equal to up to 10 percent of the person’s personal property investment and up to 10 percent of the person’s real property investment in a capital investment project, if the project involves a total capital investment of at least $1,000,000 or, if less than $1,000,000, the project involves a capital investment that is equal to at least $10,000 per eligible employee employed on the project.

SB585,15 Section 15. 238.308 (4) (a) 6. of the statutes is created to read:

SB585,,36 238.308 (4) (a) 6. For taxable years beginning after December 31, 2022, an amount equal to up to 15 percent of the person’s investment in workforce housing, as defined in s. 234.66 (1) (i), for eligible employees and up to 15 percent of the person’s investment in establishing an employee child care program for eligible employees.

SB585,16 Section 16. 238.308 (5) (a) of the statutes is amended to read:

SB585,,38 238.308 (5) (a) The corporation may require a person to repay any tax benefits the person claims for a year in which the person failed to employ an eligible employee required by comply with an agreement under sub. (2) (b).

SB585,,39 (end)