AB50,719,6 71.28 (6) (g) 1m. No person may claim the credit under par. (a) 4. unless the person claims the credit for the taxable year in which the rehabilitation work is completed.

AB50,1360 Section 1360. 71.28 (6) (h) of the statutes is amended to read:

AB50,719,19 71.28 (6) (h) Any person, including a nonprofit entity described in section 501 (c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under par. (a) 2m. or, 3., or 4., in whole or in part, to another person who is subject to the taxes imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the transfer, and submits with the notification a copy of the transfer documents, and the department certifies ownership of the credit with each transfer. The transferor may file a claim for more than one taxable year on a form prescribed by the department to compute all years of the credit under par. (a) 2m. or, 3., or 4., at the time of the transfer request. The transferee may first use the credit to offset tax in the taxable year of the transferor in which the transfer occurs, and may use the credit only to offset tax in taxable years otherwise allowed to be claimed and carried forward by the original claimant.

AB50,1361 Section 1361. 71.28 (8b) (a) 7. of the statutes is amended to read:

AB50,720,6 71.28 (8b) (a) 7. “Qualified development” means a qualified low-income housing project under section 42 (g) of the Internal Revenue Code that is financed with tax-exempt bonds, pursuant to section 42 (i) (2) described in section 42 (h) (4) (A) of the Internal Revenue Code, allocated the credit under section 42 of the Internal Revenue Code, and located in this state; except that the authority may waive, in the qualified allocation plan under section 42 (m) (1) (B) of the Internal Revenue Code, the requirements of tax-exempt bond financing and federal credit allocation to the extent the authority anticipates that sufficient volume cap under section 146 of the Internal Revenue Code will not be available to finance low-income housing projects in any year.

AB50,1362 Section 1362. 71.28 (8m) of the statutes is created to read:

AB50,720,9 71.28 (8m) Universal changing station credit. (a) Definitions. In this subsection:

AB50,720,11 1. “Claimant” means a person who files a claim under this subsection and meets either of the following conditions during the preceding taxable year:

AB50,720,12 a. Had gross receipts that did not exceed $1,000,000.

AB50,720,13 b. Employed no more than 30 full-time employees.

AB50,720,15 2. “Full-time employee” means an individual who is employed for at least 30 hours per week for 20 or more calendar weeks during a taxable year.

AB50,720,16 3. “Universal changing station” has the meaning given in s. 71.07 (8m) (a) 3.

AB50,720,21 (b) Filing claims. For taxable years beginning after December 31, 2024, subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.23, up to the amount of those taxes, an amount equal to 50 percent of the amount the claimant paid during the taxable year to install a universal changing station.

AB50,721,4 (c) Limitations. 1. No credit may be claimed under this subsection unless the universal changing station is installed in a single-occupant restroom that measures at least 8 feet by 10 feet, with adequate space for a wheelchair and a care provider to maneuver; that is equipped with a waste receptacle, a toilet, a lavatory, a soap dispenser, and a paper towel dispenser; and that complies with accessibility standards under the federal Americans with Disabilities Act.

AB50,721,5 2. The credit claimed under this subsection may not exceed $5,125.

AB50,721,12 3. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on the amounts paid by the entity. A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members, and shareholders may claim the credit in proportion to their ownership interests.

AB50,721,14 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under sub. (4), applies to the credit under this subsection.

AB50,1363 Section 1363. 71.30 (3) (cu) of the statutes is created to read:

AB50,721,16 71.30 (3) (cu) Universal changing station credit under s. 71.28 (8m).

AB50,1364 Section 1364. 71.30 (3) (epr) of the statutes is created to read:

AB50,721,19 71.30 (3) (epr) Film production company investment credit under s. 71.28 (5h).

AB50,1365 Section 1365. 71.30 (3) (eps) of the statutes is created to read:

AB50,721,21 71.30 (3) (eps) Film production services credit under s. 71.28 (5f) (b) 1. and 3.

AB50,1366 Section 1366. 71.30 (3) (f) of the statutes is amended to read:

AB50,722,5 71.30 (3) (f) The total of farmland preservation credit under subch. IX, jobs credit under s. 71.28 (3q), enterprise zone jobs credit under s. 71.28 (3w), electronics and information technology manufacturing zone credit under s. 71.28 (3wm), business development credit under s. 71.28 (3y), research credit under s. 71.28 (4) (k) 1., film production services credit under s. 71.28 (5f) (b) 2., and estimated tax payments under s. 71.29.

AB50,1367 Section 1367. 71.34 (1k) (g) of the statutes is amended to read:

AB50,722,10 71.34 (1k) (g) An addition shall be made for credits computed by a tax-option corporation under s. 71.28 (1dm), (1dx), (1dy), (3), (3g), (3h), (3n), (3q), (3t), (3w), (3wm), (3y), (4), (5), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (6n), (8m), and (10) and passed through to shareholders.

AB50,1368 Section 1368. 71.365 (4m) (d) 2. of the statutes is amended to read:

AB50,722,13 71.365 (4m) (d) 2. Except as provided in s. 71.07 (7) (b) 3. and (9m) (f) 2. a., the tax credits under this chapter may not be claimed by the tax-option corporation.