SB2,52
10Section 52
. 71.22 (4m) (m) of the statutes is created to read:
SB2,24,1511
71.22
(4m) (m) 1. For taxable years beginning after December 31, 2020,
12“Internal Revenue Code," for corporations that are subject to a tax on unrelated
13business income under s. 71.26 (1) (a), means the federal Internal Revenue Code as
14amended to December 31, 2019, except as provided in subds. 2. and 3. and s. 71.98
15and subject to subd. 4.
SB2,25,1316
2. For purposes of this paragraph, “Internal Revenue Code" does not include
17the following provisions of federal public laws for taxable years beginning after
18December 31, 2020: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
19106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
20109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
21P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
22110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
2315351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
24312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
251501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
1111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
2111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
3411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
4P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
5171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
613201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
713801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
814221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
940306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
10sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
11(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
12115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
13117, 118, 130, 132, and 145 of division Q of P.L.
116-94.
SB2,25,1914
3. For purposes of this paragraph, “Internal Revenue Code" does not include
15amendments to the federal Internal Revenue Code enacted after December 31, 2019,
16except that "Internal Revenue Code" includes sections 7001, 7002, 7003, 7004, and
177005 of division G of P.L.
116-127 and sections 1106, 2201, 2202, 2203, 2204, 2205,
182206, 2301, 2302, 2303, 2305, 2307, 2308, 3606, 3608, 3609, 3701, 3702, and 4007 of
19division A of P.L.
116-136.
SB2,26,220
4. For purposes of this paragraph, the provisions of federal public laws that
21directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
22apply for Wisconsin purposes at the same time as for federal purposes, except that
23changes made by section 13516 of P.L.
115-97, sections 20101, 20102, 20104, 20201,
2440201, 40202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116
25of P.L.
115-123, section 101 (a), (b), and (h) of division U of P.L.
115-141, section 1122
1of P.L.
116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L.
116-94, and
2section 2 of P.L.
116-98 apply for taxable years beginning after December 31, 2020.
SB2,53
3Section 53
. 71.22 (5g) of the statutes is created to read:
SB2,26,54
71.22
(5g) For purposes of s. 71.22 (4) (b) and (4m) (b), 2013 stats., “Internal
5Revenue Code" includes section 109 of division U of P.L.
115-141.
SB2,54
6Section 54
. 71.26 (2) (b) 3., 4., 5., 6., 7., 8. and 9. of the statutes are repealed.
SB2,55
7Section 55
. 71.26 (2) (b) 10. d. of the statutes is amended to read:
SB2,26,178
71.26
(2) (b) 10. d. For purposes of subd. 10. a., “Internal Revenue Code" does
9not include amendments to the federal Internal Revenue Code enacted after
10December 31, 2013, except that “Internal Revenue Code" includes the provisions of
11P.L.
113-97, P.L.
113-159, P.L.
113-168, section 302901 of P.L.
113-287, sections 171,
12172, and 201 to 221 of P.L.
113-295, sections 102, 105, and 207 of division B of P.L.
13113-295, P.L.
114-14, P.L.
114-26, section 2004 of P.L.
114-41, sections 503 and 504
14of P.L.
114-74, sections 103, 104, 124, 168, 184, 185, 190, 204, 303, 306, 336, and 341
15of division Q of P.L.
114-113,
and P.L.
114-239
; sections 101 (m), (n), (o), (p), and (q)
16and 104 (a) of division U of P.L. 115-141; and section 102 of division M and sections
17110, 111, and 116 (b) of division O of P.L. 116-94.
SB2,56
18Section 56
. 71.26 (2) (b) 11. d. of the statutes is amended to read:
SB2,26,2419
71.26
(2) (b) 11. d. For purposes of subd. 11. a., “Internal Revenue Code" does
20not include amendments to the federal Internal Revenue Code enacted after
21December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
2211025, and 13543 of P.L.
115-97, sections 40307 and 40413 of P.L. 115-123, and
23section 102 of division M and sections 110, 111, and 116 (b) of division O of P.L.
24116-94.
SB2,57
25Section 57
. 71.26 (2) (b) 12. a. of the statutes is amended to read:
SB2,27,9
171.26
(2) (b) 12. a. For taxable years beginning after December 31, 2017,
and
2before January 1, 2021, for a corporation, conduit, or common law trust which
3qualifies as a regulated investment company, real estate mortgage investment
4conduit, real estate investment trust, or financial asset securitization investment
5trust under the Internal Revenue Code, “net income" means the federal regulated
6investment company taxable income, federal real estate mortgage investment
7conduit taxable income, federal real estate investment trust or financial asset
8securitization investment trust taxable income of the corporation, conduit, or trust
9as determined under the Internal Revenue Code.
SB2,58
10Section
58. 71.26 (2) (b) 12. d. of the statutes is amended to read:
SB2,27,1811
71.26
(2) (b) 12. d. For purposes of subd. 12. a., “Internal Revenue Code" does
12not include amendments to the federal Internal Revenue Code enacted after
13December 31, 2017, except that “Internal Revenue Code” includes
sections 40307
14and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
15sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
161302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.
17116-94; section 2 (b) of P.L. 116-98; and sections 1106, 2202, 2203, 2204, 2205, 2206,
182307, 3608, 3609, 3701, and 3702 of division A of P.L.
116-136.
SB2,59
19Section 59
. 71.26 (2) (b) 12. e. of the statutes is amended to read:
SB2,27,2520
71.26
(2) (b) 12. e. For purposes of subd. 12. a., the provisions of federal public
21laws that directly or indirectly affect the Internal Revenue Code, as defined in this
22subdivision, apply for Wisconsin purposes at the same time as for federal purposes
,
23except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
2413306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
25first apply for taxable years beginning after December 31, 2017.
SB2,60
1Section
60. 71.26 (2) (b) 13. of the statutes is created to read:
SB2,28,92
71.26
(2) (b) 13. a. For taxable years beginning after December 31, 2020, for a
3corporation, conduit, or common law trust that qualifies as a regulated investment
4company, real estate mortgage investment conduit, real estate investment trust, or
5financial asset securitization investment trust under the Internal Revenue Code,
6“net income" means the federal regulated investment company taxable income,
7federal real estate mortgage investment conduit taxable income, federal real estate
8investment trust, or financial asset securitization investment trust taxable income
9of the corporation, conduit, or trust as determined under the Internal Revenue Code.
SB2,28,1210
b. For purposes of subd. 13. a., “Internal Revenue Code" means the federal
11Internal Revenue Code as amended to December 31, 2019, except as provided in
12subd. 13. c. and d. and s. 71.98 and subject to subd. 13. e.
SB2,29,1013
c. For purposes of subd. 13. a., “Internal Revenue Code" does not include the
14following provisions of federal public laws for taxable years beginning after
15December 31, 2020: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
16106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
17109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
18P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
19110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
2015351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
21312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
221501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
23111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
24111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
25411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
1P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
2171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
313201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
413801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
514221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
640306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
7sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
8(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
9115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
10117, 118, 130, 132, and 145 of division Q of P.L.
116-94.
SB2,29,1611
d. For purposes of subd. 13. a., “Internal Revenue Code" does not include
12amendments to the federal Internal Revenue Code enacted after December 31, 2019,
13except that "Internal Revenue Code" includes sections 7001, 7002, 7003, 7004, and
147005 of division G of P.L.
116-127 and sections 1106, 2201, 2202, 2203, 2204, 2205,
152206, 2301, 2302, 2303, 2305, 2307, 2308, 3606, 3608, 3609, 3701, 3702, and 4007 of
16division A of P.L.
116-136.
SB2,29,2417
e. For purposes of subd. 13. a., the provisions of federal public laws that directly
18or indirectly affect the Internal Revenue Code, as defined in this subdivision, apply
19for Wisconsin purposes at the same time as for federal purposes, except that changes
20made by section 13516 of P.L.
115-97, sections 20101, 20102, 20104, 20201, 40201,
2140202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116 of P.L.
22115-123, section 101 (a), (b), and (h) of division U of P.L.
115-141, section 1122 of P.L.
23116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L.
116-94, and section
242 of P.L.
116-98 apply for taxable years beginning after December 31, 2020.
SB2,61
25Section 61
. 71.26 (2) (b) 14. of the statutes is created to read:
SB2,30,2
171.26
(2) (b) 14. For purposes of s. 71.26 (2) (b) 2., 2013 stats., “Internal Revenue
2Code" includes section 109 of division U of P.L.
115-141.
SB2,62
3Section
62. 71.28 (6) (h) of the statutes is amended to read:
SB2,30,154
71.28
(6) (h) Any person, including a nonprofit entity described in section
501 5(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under
6par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes
7imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
8transfer, and submits with the notification a copy of the transfer documents, and the
9department certifies ownership of the credit with each transfer.
The transferor may
10file a claim for more than one taxable year on a form prescribed by the department
11to compute all years of the credit under par. (a) 2m. or 3., at the time of the transfer
12request. The transferee may first use the credit to offset tax in the taxable year of the
13transferor in which the transfer occurs, and may use the credit only to offset tax in
14taxable years otherwise allowed to be claimed and carried forward by the original
15claimant.
SB2,63
16Section 63
. 71.34 (1g) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.