AB50,13544Section 1354. 71.28 (6) (cm) of the statutes is amended to read: AB50,717,6571.28 (6) (cm) Any credit claimed under this subsection par. (a) 2m. and 3. for 6Wisconsin purposes shall be claimed at the same time as for federal purposes. AB50,13557Section 1355. 71.28 (6) (cn) (intro.) of the statutes is amended to read: AB50,717,10871.28 (6) (cn) (intro.) For taxable years beginning after December 31, 2014, 9and before January 1, 2026, the Wisconsin Economic Development Corporation 10shall certify a person to claim a credit under par. (a) 3. if all of the following apply: AB50,135611Section 1356. 71.28 (6) (f) of the statutes is renumbered 71.28 (6) (f) 1. and 12amended to read: AB50,718,131371.28 (6) (f) 1. A partnership, limited liability company, or tax-option 14corporation may not claim the credit under this subsection par. (a) 2m. and 3. The 15partners of a partnership, members of a limited liability company, or shareholders 16in a tax-option corporation may claim the credit under this subsection par. (a) 2m. 17and 3. based on eligible costs incurred by the partnership, limited liability company, 18or tax-option corporation. The partnership, limited liability company, or tax-option 19corporation shall calculate the amount of the credit which may be claimed by each 20partner, member, or shareholder and shall provide that information to the partner, 21member, or shareholder. For shareholders of a tax-option corporation, the credit 22may be allocated in proportion to the ownership interest of each shareholder. 23Credits computed by a partnership or limited liability company may be claimed in 24proportion to the ownership interests of the partners or members or allocated to
1partners or members as provided in a written agreement among the partners or 2members that is entered into no later than the last day of the taxable year of the 3partnership or limited liability company, for which the credit is claimed. For a 4partnership or limited liability company that places property in service after June 529, 2008, and before January 1, 2009, the credit attributable to such property may 6be allocated, at the election of the partnership or limited liability company, to 7partners or members for a taxable year of the partnership or limited liability 8company that ends after June 29, 2008, and before January 1, 2010. Any partner or 9member who claims the credit as provided under this paragraph shall attach a copy 10of the agreement, if applicable, to the tax return on which the credit is claimed. A 11person claiming the credit as provided under this paragraph is solely responsible 12for any tax liability arising from a dispute with the department of revenue related 13to claiming the credit. AB50,135714Section 1357. 71.28 (6) (f) 2. of the statutes is created to read: AB50,718,181571.28 (6) (f) 2. a. A partnership, limited liability company, or tax-option 16corporation may make an election under s. 71.21 (6) (a) or 71.365 (4m) (a) to claim 17the credit under par. (a) 4. against the net income or franchise tax otherwise 18payable to this state on income of the same year. AB50,718,2019b. A partnership’s partners, limited liability company’s members, and tax-20option corporation’s shareholders may not claim the credit under par. (a) 4. AB50,135821Section 1358. 71.28 (6) (g) 1. of the statutes is amended to read: AB50,719,22271.28 (6) (g) 1. If Except as provided in subd. 1m., if a person who claims the 23credit under this subsection elects to claim the credit based on claiming amounts for 24expenditures as the expenditures are paid, rather than when the rehabilitation
1work is completed, the person shall file an election form with the department, in the 2manner prescribed by the department. AB50,13593Section 1359. 71.28 (6) (g) 1m. of the statutes is created to read: AB50,719,6471.28 (6) (g) 1m. No person may claim the credit under par. (a) 4. unless the 5person claims the credit for the taxable year in which the rehabilitation work is 6completed. AB50,13607Section 1360. 71.28 (6) (h) of the statutes is amended to read: AB50,719,19871.28 (6) (h) Any person, including a nonprofit entity described in section 501 9(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under 10par. (a) 2m. or, 3., or 4., in whole or in part, to another person who is subject to the 11taxes imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department 12of the transfer, and submits with the notification a copy of the transfer documents, 13and the department certifies ownership of the credit with each transfer. The 14transferor may file a claim for more than one taxable year on a form prescribed by 15the department to compute all years of the credit under par. (a) 2m. or, 3., or 4., at 16the time of the transfer request. The transferee may first use the credit to offset tax 17in the taxable year of the transferor in which the transfer occurs, and may use the 18credit only to offset tax in taxable years otherwise allowed to be claimed and carried 19forward by the original claimant. AB50,136120Section 1361. 71.28 (8b) (a) 7. of the statutes is amended to read: AB50,720,62171.28 (8b) (a) 7. “Qualified development” means a qualified low-income 22housing project under section 42 (g) of the Internal Revenue Code that is financed 23with tax-exempt bonds, pursuant to section 42 (i) (2) described in section 42 (h) (4) 24(A) of the Internal Revenue Code, allocated the credit under section 42 of the
1Internal Revenue Code, and located in this state; except that the authority may 2waive, in the qualified allocation plan under section 42 (m) (1) (B) of the Internal 3Revenue Code, the requirements of tax-exempt bond financing and federal credit 4allocation to the extent the authority anticipates that sufficient volume cap under 5section 146 of the Internal Revenue Code will not be available to finance low-income 6housing projects in any year. AB50,13627Section 1362. 71.28 (8m) of the statutes is created to read: AB50,720,9871.28 (8m) Universal changing station credit. (a) Definitions. In this 9subsection: AB50,720,11101. “Claimant” means a person who files a claim under this subsection and 11meets either of the following conditions during the preceding taxable year: AB50,720,1212a. Had gross receipts that did not exceed $1,000,000. AB50,720,1313b. Employed no more than 30 full-time employees. AB50,720,15142. “Full-time employee” means an individual who is employed for at least 30 15hours per week for 20 or more calendar weeks during a taxable year. AB50,720,16163. “Universal changing station” has the meaning given in s. 71.07 (8m) (a) 3. AB50,720,2117(b) Filing claims. For taxable years beginning after December 31, 2024, 18subject to the limitations provided in this subsection, a claimant may claim as a 19credit against the tax imposed under s. 71.23, up to the amount of those taxes, an 20amount equal to 50 percent of the amount the claimant paid during the taxable 21year to install a universal changing station. AB50,721,422(c) Limitations. 1. No credit may be claimed under this subsection unless the 23universal changing station is installed in a single-occupant restroom that measures
1at least 8 feet by 10 feet, with adequate space for a wheelchair and a care provider to 2maneuver; that is equipped with a waste receptacle, a toilet, a lavatory, a soap 3dispenser, and a paper towel dispenser; and that complies with accessibility 4standards under the federal Americans with Disabilities Act. AB50,721,552. The credit claimed under this subsection may not exceed $5,125. AB50,721,1263. Partnerships, limited liability companies, and tax-option corporations may 7not claim the credit under this subsection, but the eligibility for, and the amount of, 8the credit are based on the amounts paid by the entity. A partnership, limited 9liability company, or tax-option corporation shall compute the amount of credit that 10each of its partners, members, or shareholders may claim and shall provide that 11information to each of them. Partners, members, and shareholders may claim the 12credit in proportion to their ownership interests. AB50,721,1413(d) Administration. Subsection (4) (e) to (h), as it applies to the credit under 14sub. (4), applies to the credit under this subsection.