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 claimant’s eligible qualified production activities income 23under this subsection, the claimant shall multiply the claimant’s 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 claimant’s 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 claimant’s eligible qualified production activities income shall equal 8the amount of the claimant’s 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 claimant’s 12eligible qualified production activities income from manufacturing under this 13subsection, the claimant shall multiply the claimant’s 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 18claimant’s 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 claimant’s eligible qualified production 21activities income from manufacturing under this subsection shall equal the amount 22of the claimant’s 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 claimant’s property taxes or rent constituting property taxes. If 20the allowable amount of the claim exceeds the income taxes otherwise due on the 21claimant’s 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 veteran’s 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 veteran’s 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: SB45,687,5471.07 (8m) Universal changing station credit. (a) Definitions. In this 5subsection: SB45,687,961. “Claimant” means a sole proprietor, a partner of a partnership, a member 7of a limited liability company, or a shareholder of a tax-option corporation who files 8a claim under this subsection and meets either of the following conditions during 9the preceding taxable year: SB45,687,1010a. Had gross receipts that did not exceed $1,000,000. SB45,687,1111b. Employed no more than 30 full-time employees. SB45,687,13122. “Full-time employee” means an individual who is employed for at least 30 13hours per week for 20 or more calendar weeks during a taxable year.