AB1048,28,15 71.07 (5n) (a) 5. a. “Manufacturing property factor" means a fraction, the numerator of which is the average value of the claimant's real and personal land and depreciable property assessed under s. 70.995, owned or rented and used in this state by the claimant during the taxable year to manufacture qualified production property, and the denominator of which is the average value of all the claimant's real and personal land and depreciable property owned or rented during the taxable year and used by the claimant to manufacture qualified production property.

AB1048,73 Section 73 . 71.07 (5n) (a) 9. (intro.) of the statutes is amended to read:

AB1048,28,18 71.07 (5n) (a) 9. (intro.) “Qualified production property" means either any of the following:

AB1048,74 Section 74 . 71.07 (5n) (a) 9. a. of the statutes is amended to read:

AB1048,29,2 71.07 (5n) (a) 9. a. Tangible personal property manufactured in whole or in part by the claimant on property that is located in this state and assessed as manufacturing property under s. 70.995. Tangible personal property manufactured in this state may only be qualified production property if it is manufactured on property approved to be classified as manufacturing real property for purposes of s. 70.995, even if it is not eligible to be listed on the department's manufacturing roll until January 1 of the following year.

AB1048,75 Section 75 . 71.07 (5n) (a) 9. c. of the statutes is created to read:

AB1048,29,13 71.07 (5n) (a) 9. c. Tangible personal property manufactured in whole or in part by the claimant at an establishment that is located in this state and classified as manufacturing under s. 70.995 (5n). A person wishing to classify the person's establishment as manufacturing under this subd. 9. c. shall file an application in the form and manner prescribed by the department no later than July 1 of the taxable year for which the person wishes to claim the credit under this subsection, pursuant to s. 70.995 (5n). The department shall make a determination and provide written notice by December 31 of the year in which the application is filed. A determination on the classification under this subd. 9. c. may be appealed as provided under s. 70.995 (5n).

AB1048,76 Section 76 . 71.07 (5n) (d) 2. of the statutes is amended to read:

AB1048,29,23 71.07 (5n) (d) 2. 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.

AB1048,77 Section 77 . 71.07 (6e) (a) 5. of the statutes is amended to read:

AB1048,30,17 71.07 (6e) (a) 5. “Property taxes" means real and personal property taxes, exclusive of special assessments, delinquent interest, and charges for service, paid by a claimant, and the claimant's spouse if filing a joint return, on the eligible veteran's or unremarried surviving spouse's principal dwelling in this state during the taxable year for which credit under this subsection is claimed, less any property taxes paid which are properly includable as a trade or business expense under section 162 of the Internal Revenue Code. If the principal dwelling on which the taxes were paid is owned by 2 or more persons or entities as joint tenants or tenants in common or is owned by spouses as marital property, “property taxes" is that part of property taxes paid that reflects the ownership percentage of the claimant, except that this limitation does not apply to spouses who file a joint return. If the principal dwelling is sold during the taxable year, the “property taxes" for the seller and buyer shall be the amount of the tax prorated to each in the closing agreement pertaining to the sale or, if not so provided for in the closing agreement, the tax shall be prorated between the seller and buyer in proportion to months of their respective ownership. “Property taxes" includes monthly municipal permit fees in respect to a principal dwelling collected under s. 66.0435 (3) (c).

AB1048,78 Section 78. 71.07 (9) (a) 3. of the statutes is amended to read:

AB1048,31,8 71.07 (9) (a) 3. “Property taxes" means real and personal property taxes, exclusive of special assessments, delinquent interest and charges for service, paid by a claimant on the claimant's principal dwelling during the taxable year for which credit under this subsection is claimed, less any property taxes paid which are properly includable as a trade or business expense under section 162 of the Internal Revenue Code. If the principal dwelling on which the taxes were paid is owned by 2 or more persons or entities as joint tenants or tenants in common or is owned by spouses as marital property, “property taxes" is that part of property taxes paid that reflects the ownership percentage of the claimant. If the principal dwelling is sold during the taxable year the “property taxes" for the seller and buyer shall be the amount of the tax prorated to each in the closing agreement pertaining to the sale or, if not so provided for in the closing agreement, the tax shall be prorated between the seller and buyer in proportion to months of their respective ownership. “ Property taxes" includes monthly municipal permit fees in respect to a principal dwelling collected under s. 66.0435 (3) (c).

AB1048,79 Section 79. 71.17 (2) of the statutes is amended to read:

AB1048,31,17 71.17 (2) Lien on trust estate; income taxes levied against beneficiary. All income taxes levied against the income of beneficiaries shall be a lien on that portion of the trust estate or interest therein from which the income taxed is derived, and such taxes shall be paid by the fiduciary, if not paid by the distributee, before the same become delinquent. Every person who, as a fiduciary under the provisions of this subchapter, pays an income tax shall have all the rights and remedies of reimbursement for any taxes assessed against him or her or paid by him or her in such capacity, as provided in s. 70.19 (1) and (2), 2019 stats.

AB1048,80 Section 80 . 71.28 (5n) (a) 5. a. of the statutes is amended to read:

AB1048,31,25 71.28 (5n) (a) 5. a. “Manufacturing property factor" means a fraction, the numerator of which is the average value of the claimant's real and personal land and depreciable property assessed under s. 70.995, owned or rented and used in this state by the claimant during the taxable year to manufacture qualified production property, and the denominator of which is the average value of all the claimant's real and personal land and depreciable property owned or rented during the taxable year and used by the claimant to manufacture qualified production property.

AB1048,81 Section 81. 71.28 (5n) (a) 5. d. of the statutes is repealed.

AB1048,82 Section 82 . 71.28 (5n) (a) 9. (intro.) of the statutes is amended to read:

AB1048,32,4 71.28 (5n) (a) 9. (intro.) “Qualified production property" means either any of the following:

AB1048,83 Section 83 . 71.28 (5n) (a) 9. a. of the statutes is amended to read:

AB1048,32,12 71.28 (5n) (a) 9. a. Tangible personal property manufactured in whole or in part by the claimant on property that is located in this state and assessed as manufacturing property under s. 70.995. Tangible personal property manufactured in this state may only be qualified production property if it is manufactured on property approved to be classified as manufacturing real property for purposes of s. 70.995, even if it is not eligible to be listed on the department's manufacturing roll until January 1 of the following year.

AB1048,84 Section 84 . 71.28 (5n) (a) 9. c. of the statutes is created to read:

AB1048,32,23 71.28 (5n) (a) 9. c. Tangible personal property manufactured in whole or in part by the claimant with an establishment that is located in this state and classified as manufacturing under s. 70.995 (5n). A person wishing to classify the person's establishment as manufacturing under this subd. 9. c. shall file an application in the form and manner prescribed by the department no later than July 1 of the taxable year for which the person wishes to claim the credit under this subsection, pursuant to s. 70.995 (5n). The department shall make a determination and provide written notice by December 31 of the year in which the application is filed. A determination on the classification under this subd. 9. c. may be appealed as provided under s. 70.995 (5n).

AB1048,85 Section 85 . 71.28 (5n) (d) 2. of the statutes is amended to read:

AB1048,33,9 71.28 (5n) (d) 2. Except as provided in subd. 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.

AB1048,86 Section 86 . 73.06 (3) of the statutes is amended to read:

AB1048,33,22 73.06 (3) The department of revenue, through its supervisors of equalization, shall examine and test the work of assessors during the progress of their assessments and ascertain whether any of them is assessing property at other than full value or is omitting property subject to taxation from the roll. The department and such supervisors shall have the rights and powers of a local assessor for the examination of persons and property and for the discovery of property subject to taxation. If any property has been omitted or not assessed according to law, they shall bring the same to the attention of the local assessor of the proper district and if such local assessor shall neglect or refuse to correct the assessment they shall report the fact to the board of review. All disputes between the department, municipalities, and property owners about the taxability or value of the property under s. 70.995 (12r) shall be resolved by using the procedures under s. 70.995 (8).

AB1048,87 Section 87. 74.05 (1) of the statutes is amended to read: