AB2-ASA3,42,2525
b. Privately owned movie theater grants.
AB2-ASA3,43,1
1c. A nonprofit grant program.
AB2-ASA3,43,22
d. A tourism grants program.
AB2-ASA3,43,33
e. A cultural organization grant program.
AB2-ASA3,43,44
f. Music and performance venue grants.
AB2-ASA3,43,55
g. Lodging industry grants.
AB2-ASA3,43,66
h. Low-income home energy assistance.
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i. A rental assistance program.
AB2-ASA3,43,88
j. Supplemental child care grants.
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k. A food insecurity initiative.
AB2-ASA3,43,1010
L. A farm support program.
AB2-ASA3,43,1111
m. Grants to small businesses.
AB2-ASA3,43,1212
n. Ethanol industry assistance.
AB2-ASA3,43,1313
o. Wisconsin Eye.
AB2-ASA3,88
14Section
88. 71.47 (6) (h) of the statutes is amended to read:
AB2-ASA3,44,215
71.47
(6) (h) Any person, including a nonprofit entity described in section
501 16(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under
17par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes
18imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
19transfer, and submits with the notification a copy of the transfer documents, and the
20department certifies ownership of the credit with each transfer.
The transferor may
21file a claim for more than one taxable year on a form prescribed by the department
22to compute all years of the credit under par. (a) 2m. or 3., at the time of the transfer
23request. The transferee may first use the credit to offset tax in the taxable year of the
24transferor in which the transfer occurs, and may use the credit only to offset tax in
1taxable years otherwise allowed to be claimed and carried forward by the original
2claimant.
AB2-ASA3,89
3Section
89. 71.52 (1g) of the statutes is created to read:
AB2-ASA3,44,124
71.52
(1g) “Earned income” means wages, salaries, tips, and other employee
5compensation that may be included in federal adjusted gross income for the taxable
6year, plus the amount of the claimant's net earnings from self-employment for the
7taxable year determined with regard to the deduction allowed to the taxpayer by
8section
164 (f) of the Internal Revenue Code. For purposes of this subsection, a
9claimant's earned income is computed without regard to any marital property laws
10and a claimant may elect to treat amounts excluded from federal adjusted gross
11income as earned income, as provided under section
112 of the Internal Revenue
12Code. “Earned income” does not include the following:
AB2-ASA3,44,1313
(a) Any amount received as a pension or annuity.
AB2-ASA3,44,1414(b) Any amount to which section
871 (a) of the Internal Revenue Code applies.
AB2-ASA3,44,1615
(c) Any amount received for services provided by an individual while the
16individual is an inmate at a penal institution.
AB2-ASA3,44,2117
(d) Any amount received for service performed in work activities under
18paragraphs (4) or (7) of section 407 (d) of the Social Security Act to which the claimant
19is assigned under any state program under part A of title IV of the Social Security
20Act. This paragraph applies only to amounts subsidized under any such state
21program.
AB2-ASA3,90
22Section
90. 71.55 (10) of the statutes is amended to read:
AB2-ASA3,45,623
71.55
(10) Farmers. Notwithstanding the provision in s. 71.52 (6) that requires
24the addition of certain disqualified losses to income, such an addition may not be
25made by a claimant who is a farmer whose primary income is from farming and
1whose farming generates less than $250,000 in gross receipts from the operation of
2farm premises in the year to which the claim relates.
For purposes of this subsection,
3a claimant's primary income is from farming if the claimant's gross income from
4farming for the year to which the claim relates is greater than 50 percent of the
5claimant's total gross income from all sources for the year to which the claim relates.
6In this subsection, “gross income” has the meaning given in s. 71.03 (1).
AB2-ASA3,91
7Section
91. 71.76 of the statutes is renumbered 71.76 (1) and amended to read:
AB2-ASA3,45,258
71.76
(1) If for any year the amount of federal net income tax payable, of a credit
9claimed or carried forward, of a net operating loss carried forward or of a capital loss
10carried forward of any taxpayer as reported to the internal revenue service is
11changed or corrected by the internal revenue service or other officer of the United
12States, such taxpayer shall report such changes or corrections to the department
13within
90 180 days after its final determination and shall concede the accuracy of
14such determination or state how the determination is erroneous. Such changes or
15corrections need not be reported unless they affect the amount of net tax payable
16under this chapter, of a credit calculated under this chapter, of a Wisconsin net
17operating loss carried forward, of a Wisconsin net business loss carried forward or
18of a capital loss carried forward under this chapter. Any taxpayer submitting an
19amended return to the internal revenue service, or to another state if there has been
20allowed a credit against Wisconsin taxes for taxes paid to that state, shall also file,
21within
90 180 days of such filing date, an amended return if any information
22contained on the amended return affects the amount of net tax payable under this
23chapter of a credit calculated under this chapter, of a Wisconsin net operating loss
24carried forward, of a Wisconsin net business loss carried forward or of a capital loss
25carried forward under this chapter.
AB2-ASA3,92
1Section
92. 71.76 (2) of the statutes is created to read:
AB2-ASA3,46,102
71.76
(2) In the case of any partnership adjustments, as defined under section
36241 of the Internal Revenue Code and including adjustments under section
6225 4of the Internal Revenue Code, the partnership and its partners shall report such
5changes or corrections to the department within 180 days after the final
6determination by the internal revenue service and shall concede the accuracy of such
7determination or state how the determination is erroneous. The partnership and its
8partners shall submit amended returns, as applicable, for each reviewed year, as
9defined under section
6225 of the Internal Revenue Code, to which such partnership
10adjustments relate.
AB2-ASA3,93
11Section
93. 71.77 (7) (b) of the statutes is amended to read: