SB45,682,15123. A claimant may claim the credit under par. (b) 2. for an amount expended to
13acquire real property, if the property is not previously owned property and if the
14claimant acquires the property after December 31, 2025, or if the completed project
15is placed in service after December 31, 2025.
SB45,682,19164. No claim may be allowed under this subsection unless the department of
17tourism certifies, in writing, that the credits claimed under this subsection are for
18expenses related to establishing a film production company in this state and the
19claimant submits a copy of the certification with the claimants return.
SB45,683,4205. Partnerships, limited liability companies, and tax-option corporations may
21not claim the credit under this subsection, but the eligibility for, and the amount of,
22the credit are based on their payment of amounts under par. (b). A partnership,
23limited liability company, or tax-option corporation shall compute the amount of

1credit that each of its partners, members, or shareholders may claim and shall
2provide that information to each of them. Partners, members of limited liability
3companies, and shareholders of tax-option corporations may claim the credit in
4proportion to their ownership interests.
SB45,683,65(d) Administration. 1. Section 71.28 (4) (e) to (h), as it applies to the credit
6under s. 71.28 (4), applies to the credits under this subsection.
SB45,683,1572. Any person, including a nonprofit entity described in section 501 (c) (3) of
8the Internal Revenue Code, may sell or otherwise transfer a credit under this
9subsection, in whole or in part, to another person who is subject to the taxes
10imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
11transfer, and submits with the notification a copy of the transfer documents, and
12the department certifies ownership of the credit. The transferee may first use the
13credit to offset tax of the transferor in the taxable year in which the transfer occurs
14and may use the credit only to offset tax in taxable years in which the credit is
15otherwise allowed to be claimed and carried forward by the original claimant.
SB45,128416Section 1284. 71.07 (5m) (a) 3. of the statutes is amended to read:
SB45,683,181771.07 (5m) (a) 3. Household means a claimant and an individual related to
18the claimant as husband or wife his or her spouse.
SB45,128519Section 1285. 71.07 (5n) (d) 2. of the statutes is renumbered 71.07 (5n) (d) 2.
20a. and amended to read:
SB45,684,32171.07 (5n) (d) 2. a. For Except as provided in subd. 2. b., c., and d., for
22purposes of determining a claimants eligible qualified production activities income
23under this subsection, the claimant shall multiply the claimants qualified
24production activities income from property manufactured by the claimant by the

1manufacturing property factor and qualified production activities income from
2property produced, grown, or extracted by the claimant by the agriculture property
3factor. This subdivision does not apply if
SB45,684,84b. Except as provided in subd. 2. d., if the claimants entire qualified
5production activities income results from the sale of tangible personal property that
6was manufactured, produced, grown, or extracted wholly in this state by the
7claimant, the claimants eligible qualified production activities income shall equal
8the amount of the claimants qualified production activities income.
SB45,12869Section 1286. 71.07 (5n) (d) 2. c. of the statutes is created to read:
SB45,684,151071.07 (5n) (d) 2. c. Except as provided in subd. 2. d., for taxable years
11beginning after December 31, 2024, for purposes of determining a claimants
12eligible qualified production activities income from manufacturing under this
13subsection, the claimant shall multiply the claimants qualified production
14activities income, not exceeding $300,000, from property manufactured by the
15claimant by the manufacturing property factor.
SB45,128716Section 1287. 71.07 (5n) (d) 2. d. of the statutes is created to read:
SB45,684,231771.07 (5n) (d) 2. d. For taxable years beginning after December 31, 2024, if a
18claimants entire qualified production activities income results from the sale of
19tangible personal property that was manufactured, produced, grown, or extracted
20wholly in this state by the claimant, the claimants eligible qualified production
21activities income from manufacturing under this subsection shall equal the amount
22of the claimants qualified production activities income from property
23manufactured by the claimant, not exceeding $300,000.
SB45,128824Section 1288. 71.07 (6e) (a) 2. b. of the statutes is amended to read:
SB45,685,8
171.07 (6e) (a) 2. b. An individual who had served on active duty under
2honorable conditions in the U.S. armed forces or in forces incorporated as part of
3the U.S. armed forces; who was a resident of this state at the time of entry into that
4active service or who had been a resident of this state for any consecutive 5-year
5period after entry into that active duty service; who was a resident of this state at
6the time of his or her death; and who had either a service-connected disability
7rating of 100 at least 70 percent under 38 USC 1114 or 1134 or a 100 percent
8disability rating based on individual unemployability.
SB45,12899Section 1289. 71.07 (6e) (a) 3. d. of the statutes is amended to read:
SB45,685,121071.07 (6e) (a) 3. d. Has either a service-connected disability rating of 100 at
11least 70 percent under 38 USC 1114 or 1134 or a 100 percent disability rating based
12on individual unemployability.
SB45,129013Section 1290. 71.07 (6e) (a) 6. of the statutes is created to read:
SB45,685,151471.07 (6e) (a) 6. Rent constituting property taxes has the meaning given in
15sub. (9) (a) 4.
SB45,129116Section 1291. 71.07 (6e) (b) of the statutes is amended to read:
SB45,686,21771.07 (6e) (b) Filing claims. Subject to the limitations provided in this
18subsection, a claimant may claim as a credit against the tax imposed under s. 71.02
19the amount of the claimants property taxes or rent constituting property taxes. If
20the allowable amount of the claim exceeds the income taxes otherwise due on the
21claimants income, the amount of the claim not used as an offset against those taxes
22shall be certified by the department of revenue to the department of administration

1for payment to the claimant by check, share draft, or other draft from the
2appropriation under s. 20.835 (2) (em).
SB45,12923Section 1292. 71.07 (6e) (c) 3. of the statutes is amended to read:
SB45,686,9471.07 (6e) (c) 3. If an eligible veteran and an eligible spouse file separate
5returns, each spouse may claim a credit under this subsection for property taxes
6based on their respective ownership interest in the eligible veterans principal
7dwelling or for rent constituting property taxes based on 50 percent of the total rent
8constituting property taxes paid during the taxable year for the eligible veterans
9principal dwelling.
SB45,129310Section 1293. 71.07 (6e) (c) 4. of the statutes is created to read:
SB45,686,131171.07 (6e) (c) 4. If a service-connected disability rating is less than 100
12percent, the amount that the claimant may claim under this subsection shall be
13multiplied by a percentage that equals that service-connected disability rating.
SB45,129414Section 1294. 71.07 (8b) (a) 7. of the statutes is amended to read:
SB45,687,21571.07 (8b) (a) 7. Qualified development means a qualified low-income
16housing project under section 42 (g) of the Internal Revenue Code that is financed
17with tax-exempt bonds, pursuant to section 42 (i) (2) described in section 42 (h) (4)
18(A) of the Internal Revenue Code, allocated the credit under section 42 of the
19Internal Revenue Code, and located in this state; except that the authority may
20waive, in the qualified allocation plan under section 42 (m) (1) (B) of the Internal
21Revenue Code, the requirements of tax-exempt bond financing and federal credit
22allocation to the extent the authority anticipates that sufficient volume cap under

1section 146 of the Internal Revenue Code will not be available to finance low-income
2housing projects in any year.
SB45,12953Section 1295. 71.07 (8m) of the statutes is created to read: