LRB-0203/1

JK:amn

2019 - 2020 LEGISLATURE

January 29, 2019 - Introduced by Senators Feyen, Darling and Nass, cosponsored
by Representatives Rohrkaste, Gundrum, Horlacher, Kulp, Ramthun,
Rodriguez and Skowronski. Referred to Committee on Agriculture, Revenue
and Financial Institutions.

SB14,1,4 1An Act to amend 71.05 (6) (a) 15., 71.10 (4) (i), 71.21 (4) (a), 71.26 (2) (a) 4., 71.30
2(3) (f), 71.34 (1k) (g), 71.45 (2) (a) 10. and 71.49 (1) (f); and to create 20.835 (2)
3(cq), 71.07 (5p), 71.28 (5p) and 71.47 (5p) of the statutes; relating to: an income
4and franchise tax credit for paid interns and making an appropriation.

Analysis by the Legislative Reference Bureau

This bill allows a person to claim an income and franchise tax credit equal to
$2,500 for each intern who performs work in this state for the person and for whom
the person provides compensation for performing the work. No person may claim the
credit for more than 40 interns in any taxable year. If the amount of the credit
exceeds the person's tax liability, the person receives a refund of the excess amount.

For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.

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

SB14,1 5Section 1. 20.835 (2) (cq) of the statutes is created to read:

SB14,1,76 20.835 (2) (cq) Paid intern credit. A sum sufficient to make the payments under
7ss. 71.07 (5p), 71.28 (5p), and 71.47 (5p).

SB14,2

1Section 2. 71.05 (6) (a) 15. of the statutes is amended to read:

SB14,2,82 71.05 (6) (a) 15. Except as provided under s. 71.07 (3p) (c) 5., the amount of the
3credits computed under s. 71.07 (2dm), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r),
4(3rm), (3rn), (3s), (3t), (3w), (3wm), (3y), (4k), (4n), (5e), (5f), (5h), (5i), (5j), (5k), (5p),
5(5r), (5rm), (6n), (8r), and (10) and not passed through by a partnership, limited
6liability company, or tax-option corporation that has added that amount to the
7partnership's, company's, or tax-option corporation's income under s. 71.21 (4) or
871.34 (1k) (g).

SB14,3 9Section 3. 71.07 (5p) of the statutes is created to read:

SB14,2,1010 71.07 (5p) Paid intern credit. (a) Definitions. In this subsection: