SB 720 is sponsored by Kooyenga, Smith, Jeff (Democrat), and Marklein, Howard (Republican).

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Wisconsin 2019-2020 Regular Session Status: Passed Senate Bipartisan · 1 D · 1 R cosponsors

SB 720 — Relating to: various changes to the laws administered and enforced by the Department of Revenue. (FE)

Last action April 01, 2020 — Failed to pass pursuant to Senate Joint Resolution 1

✓
Introduced
✓
In Committee
3
Passed Senate
4
Passed Assembly
5
To Executive
6
Enacted

This bill died with 2019-2020 Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

1147 added · 12 removed

Plain-language change summary

The latest version of SB 720 includes several amendments that primarily focus on updating and clarifying existing tax regulations. Notably, it adjusts the year mentioned in one section from 2018 to 2019 and specifies that final determinations must come from the Internal Revenue Service. These changes are important because they ensure that the bill accurately reflects current regulations and practices, which can help avoid confusion and ensure compliance for taxpayers and state authorities alike.

- 2020 LEGISLATURE ~~LRBa1095/1~~LRB-5373/1 ~~JK:cjs~~JK:wlj&amn SENATE ~~AMENDMENT~~BILL 1,720 TOJanuary ~~SENATE~~24, ~~SUBSTITUTE~~2020 ~~AMENDMENT~~- 1,Introduced TOby ~~SENATE~~Senators ~~BILL~~M ~~720~~ARKLEIN, ~~February~~KOOYENGA 5,and ~~2020~~SMITH, -cosponsored ~~Offered~~ by ~~SenatoARKLEI.~~Representatives WITTK, M ACCO, KATSMA, ZIMMERMAN and OHNSTAD .

AtReferred ~~the~~to ~~locations~~Committee ~~indicated,~~on ~~amend~~Agriculture, ~~the~~Revenue ~~substitute~~and ~~amendment~~Financial asInstitutions. ~~follows:~~

A N A CT to repeal 71.775 (1) (b), 77.51 (13gm) (a) 1.

and 2., 77.51 (13gm) (d) 1.

and 77.51 (13gm) (d) 3.

and 4.;

to renumber and amend 77.51 (13gm) (a) (intro.);

to consolidate, renumber and amend 71.775 (1) (intro.) and (a);

to amend48.561 (3) (a) 3., 48.561 (3) (b), 59.25 (3) (i), 66.0602 (3) (h) 2.

a., 66.0602 (6) (a), 66.0602 (6) (b), 66.1105 (6m) (d) 4., 70.46 (4), 70.855 (4) (b), 70.995 (8) (c) 1., 70.995 (8) (d), 70.995 (14) (b), 71.04 (1) (a), 71.04 (1) (b) (intro.), 71.04 (3) (b), 71.04 (4) (intro.), 71.04 (9), 71.05 (6) (b) 4., 71.07 (9m) (h), 71.25 (6) (intro.), 71.28 (6) (h), 71.47 (6) (h), 71.55 (10), 71.76, 71.77 (7) (b), 71.78 (1), 71.87, 73.0305, 73.09 (4) (c), 73.09 (5), 73.16 (4), 74.315 (1), 74.315 (2), 74.315 (3), 76.04 (1), 76.07 (1), 76.075, 76.13 (3), 76.28 (4) (b), 76.28 (11), 76.39 (4) (d), 76.48 (5), 77.51 (13gm) (b), 77.51 (13gm) (c), 77.51 (13gm) (d) 2., 77.51 (13gm) (d) 5., 77.52 (2m) (b), 77.54 (6) (am) 2., 77.54 (9a) (f), 79.02 (1), 79.02 (2) (b), 79.02 (3) (a), 79.02 (3) (e), 79.035 (6), 79.035 (7) (b), 79.05 (1) (am) and 79.05 (2m);

and to create 71.04 (1) (c), 71.04 (9m), 71.52 (1g), 71.738 (3c), 71.738 (3d), 71.738 (3f), - 2020 Legislature - 2 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 71.738 (3g), 71.738 (5b), 71.745, 71.75 (11), 71.78 (11), 71.80 (26), 71.80 (27), 71.83 (1) (a) 12., 74.315 (1m) and 77.61 (5) (b) 8m.

of the statutes;

relating to:

various changes to the laws administered and enforced by the Department of Revenue.

Analysis by the Legislative Reference Bureau This bill makes changes to the laws administered and enforced by the Department of Revenue.

SHARED REVENUE Reimbursement amounts Under current law, the state reduces the shared revenue payments to counties and municipalities for various purposes, including for the collection of penalties and the reimbursement for other amounts.

However, current law is not consistent with regard to which components of shared revenue are reduced for these purposes.

This bill provides that all such reductions are from the payment of all shared revenue components that the counties and municipalities receive on the fourth Monday in July and the third Monday in November.

Expenditure restraint payments Under current law, counties and municipalities receive 15 percent of their shared revenue payments on the fourth Monday in July and the remainder on the third Monday in November, except that municipalities receive the entire amount of their payment under the expenditure restraint program on the fourth Monday in July.

The bill allows municipalities to receive their entire expenditure restraint before the fourth Monday in July, upon certification by DOR.

Under current law, the inflation factor used to compute a municipality's expenditure restraint payment is a percentage equal to the average annual percentage change in the U.S.

consumer price index for all urban consumers, U.S.

city average, as determined by the U.S.

Department of Labor, for the 12 months ending on September 30.

The bill modifies the consumer price index provision so that it is for the 12 months ending on August 31.

PROPERTY Omitted property Current law requires a taxation district clerk to annually submit to DOR a listing of the taxes on property omitted from assessment in any of the previous two years that are to be included in the next assessment.

However, the clerk reports the omitted taxes only if those taxes exceed $5,000.

The bill modifies that $5,000 threshold so that the clerk reports the omitted taxes that are $250 or more for any single description of property.

The bill also provides that the clerk may not list an omitted tax that was levied on property within a tax incremental district unless the current value of the district is lower than the tax incremental base.

LRB-5373/1 - 2020 Legislature - 3 - JK:wlj&amn SENATE BILL 720 Objections Current law requires a person who files an objection to the assessment of the person's manufacturing property to pay a $45 fee.

The bill increases the filing fee to $200.

License fees Current law imposes license fees instead of property taxes on certain public utilities.

The fees are based, generally, on the value of a utility's property.

Utilities that are subject to the fees include light, heat, and power companies, pipeline companies, and railroad companies.

Each such company, other than a railroad company, must file a report with DOR on or before May 1 of each year.

DOR determines the value of the company's property on or before September 15.

A railroad company must file its report on or before April 15 and its value is determined on or before August 1.

The bill changes the filing and determination dates for a railroad company so that those dates are the same as those for other public utilities.

The bill also decreases the interest rate paid on refunds of license fees paid by public utilities from 9 percent to 3 percent.

Board of review Current law requires that at least one member of the board of review attend DOR training within the two-year period beginning on the date of the board's first meeting.

Show all 500 changed lines (460 more)

The bill requires all members of the board of review to complete the training each year, except that only one member needs to attend training in-person each year.

Assessor certification Current law requires a person applying for an assessor certification examination to submit a $20 fee with the application.

A person applying for a renewal of an assessor certification pays a $20 recertification fee with the application.

The bill allows DOR to determine the amount of the fee for an assessor certification examination on the basis of DOR's estimate of the actual cost to administer and grade the examination, but the fee may not exceed $75.

The bill also allows DOR to determine the recertification fee.

Levy limit;

joint fire departments The property tax levy limit under current law does not apply to the amount that a city, village, or town levies to pay for charges assessed by a joint fire department if the current year increase in such charges is equal to or less than the percentage change in the U.S.

consumer price index for all urban consumers, U.S.

city average, as determined by the U.S.

Department of Labor, for the 12 months ending on September 30 of the year of the levy, plus 2 percent.

The bill modifies the consumer price index provision so that it is for the 12 months ending on August 31 of the year of the levy.

INCOME TAX Disability income subtraction Current law allows an individual with less than $20,200 of federal adjusted gross income to claim a disability income subtraction on the individual's state tax - 2020 Legislature - 4 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 return, if the individual is at least 65 years of age and retired on disability, and, when the individual retired, was permanently and totally disabled.

For a married couple filing a joint return, each spouse may claim the credit if they meet the criteria and their combined income is less than $25,400.

The bill replaces an obsolete reference to the federal Internal Revenue Code with the language used to determine the claimant's eligibility that existed under the obsolete reference.

Homestead credit Under current law, an individual who is under the age of 62 and who does not have a disability must have earned income in order to claim the homestead credit.

However, current law does not define earned income for purposes of claiming the credit.

The bill defines “earned income” for purposes of claiming the homestead credit as wages, salaries, tips, and other employee compensation that may be included in federal adjusted gross income for the taxable year, plus the amount of net earnings from self-employment.

Current law also requires individuals who wish to claim the homestead credit to add certain disqualified losses to homestead income in order to determine eligibility to claim the credit.

However, the requirement does not apply to an individual whose primary income is from farming and whose farming operation generates less than $250,000 in the year to which the claim relates.

The bill clarifies that an individual's primary income is from farming if the individual's gross income from farming for the year in which the claim relates is greater than 50 percent of the individual's total gross income from all sources for that year.

Pass-through entity audits Under current law, in order to conduct an audit of a “pass-through” entity, DOR must interact with each member of the entity.

A pass-through entity is an entity such as a partnership or limited liability company that passes the income of the entity on to the individual partners or members.

The bill requires a pass-through entity to designate a member to act on the entity's behalf so that DOR may conduct an audit without having to interact with each individual member.

Final audit determinations Under current law, a taxpayer who receives a final audit determination from DOR has 90 days to report to DOR any changes or corrections related to that determination.

The bill increases the time for providing that report to 180 days.

Historic rehabilitation credit The bill modifies the procedure for transferring the historic rehabilitation tax credit so that the person transferring the credit may file a claim for more than one taxable year.

Nonresident income The bill modifies current law so that nonresidents who derive business income from services performed both in and outside this state determine the amount that is subject to state income or franchise tax by using the same apportionment formula under current law that applies to resident entities.

LRB-5373/1 - 2020 Legislature - 5 - JK:wlj&amn SENATE BILL 720 SALES TAX Property transferred with services Current law provides that persons providing landscaping, printing, fabricating, processing, or photographic services or performing services to tangible personal property may purchase for resale, without paying the sales tax, items that the person will transfer to a customer in conjunction with providing a service that is subject to the sales tax.

The bill provides that the exemption applies regardless of whether the service is taxable.

Nonprofit organizations The bill modifies the sales and use tax exemption for churches, religious organizations, and certain nonprofit organizations to conform with DOR's current practice with regard to the administration of the exemption.

The bill provides that the exemption applies to organizations that are exempt from federal taxation under section 501 (c) (3) of the Internal Revenue Code and have received a determination letter for the Internal Revenue Service.

The bill also provides that the exemption applies to churches and religious organizations that meet the requirements of section 501 (c) (3) of the Internal Revenue Code, but are not required to apply for or obtain tax-exempt status from the IRS.

Out-of-state retailer Under current law, an out-of-state retailer that has annual gross sales into this state in excess of $100,000 or 200 or more annual separate sales transactions into this state must register with DOR and collect the sales tax on those sales and transactions.

The determination of the annual gross sales and transactions is based on the retailer's taxable year for federal income tax purposes.

Under the bill, an out-of-state retailer that has annual gross sales into this state in excess of $100,000 in the previous or current calendar year must register with DOR and collect the sales tax on those sales.

Disclosure to state auditor The bill allows the state auditor and Legislative Audit Bureau to examine sales and use tax returns and related documents to the extent necessary for the bureau to carry out its duties.

OTHER Payments from counties to towns Under current law, during the period beginning on the third Monday of March and ending ten days after the annual town meeting, a county treasurer may not pay to a town treasurer any money that belongs to the town and that is in the hands of the county treasurer except upon a written order of the town board.

The bill eliminates this restriction.

Because this bill relates to an exemption from state or local taxes, it may be referred to the Joint Survey Committee on Tax Exemptions for a report to be printed as an appendix to the bill.

- 2020 Legislature - 6 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 For further information see the state and local 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:

SECTION 1.

48.561 (3) (a) 3.

of the statutes is amended to read:

48.561 (3) (a) 3.

Through a deduction of $20,101,300 from any state payment due that county under s.

79.035, 79.04, or 79.08 79.02 (1), as provided in par.

(b).

SECTION 2.

48.561 (3) (b) of the statutes is amended to read:

48.561 (3) (b) The department of administration shall collect the amount specified in par.

(a) 3.

from a county having a population of 750,000 or more by deducting all or part of that amount from any state payment due that county under s.

79.035, 79.04, or 79.08.02 (1).

The department of administration shall notify the department of revenue, by September 15 of each year, of the amount to be deducted from the state payments due under s.

79.035, 79.04, or 79.08 79.02 (1).

The department of administration shall credit all amounts collected under this paragraph to the appropriation account under s.

20.437 (1) (kw) and shall notify the county from which those amounts are collected of that collection.

The department may not expend any moneys from the appropriation account under s.

20.437 (1) (cx) for providing services to children and families under s.

48.48 (17) until the amounts in the appropriation account under s.

20.437 (1) (kw) are exhausted.

SECTION 3.

59.25 (3) (i) of the statutes is amended to read:

59.25(3) (i) Make annually, on the 3rd Monday of March, a certified statement, and forward the statement to each municipal clerk in the county, showing the amount of money paid from the county treasury during the year next preceding to each municipal treasurer in the county.

The statement shall specify the date of each LRB-5373/1 - 2020 Legislature - 7 - JK:wlj&amn SECTION 3 SENATE BILL 720 payment, the amount thereof and the account upon which the payment was made.

It shall be unlawful for any county treasurer to pay to the treasurer of any town any money in the hands of the county treasurer belonging to the town from the 3rd Monday of March until 10 days after the annual town meeting except upon the written order of the town board.

SECTION 4.

66.0602 (3) (h) 2.

of the statutes is amended to read:

66.0602 (3) (h) 2.

The total charges assessed by the joint fire department for the current year increase, relative to the total charges assessed by the joint fire department for the previous year, by a percentage that is less than or equal to the percentage change in the U.S.

consumer price index for all urban consumers, U.S.

city average, as determined by the U.S.

department of labor, for the 12 months ending on September 30August 31 of the year of the levy, plus 2 percent.

SECTION 5.

66.0602 (6) (a) of the statutes is amended to read:

66.0602 (6) (a) Reduce the amount of county and municipal aid payments payment to the political subdivision under s.

79.035 79.02 (1) in the following year by an amount equal to the amount of the penalized excess.

SECTION 6.

66.0602 (6) (b) of the statutes is amended to read:

66.0602 (6) (b) Ensure that the amount of any reductions in county and municipal aid payments under par.

(a) lapses to the general fund.

SECTION 7.

66.1105 (6m) (d) 4.

of the statutes is amended to read:

66.1105 (6m) (d) 4.

If an annual report is not timely filed under par.

(c), the department of revenue shall notify the city that the report is past due.

If the city does not file the report within 60 days of the date on the notice, except as provided in this subdivision, the department shall charge the city a fee of $100 per day for each day that the report is past due, up to a maximum penalty of $6,000 per report.

If the city - 2020 Legislature - 8 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 SECTION 7 does not pay within 30 days of issuance, the department of revenue shall reduce and withhold the amount of the shared revenue payments to the city under subch.

I of ch.

79 s.

79.02 (1), in the following year, by an amount equal to the unpaid penalty.

SECTION 8.

70.46 (4) of the statutes is amended to read:

70.46 (4) No board of review may be constituted unless it includes at least one voting member who, within 2 years of the board's first meeting, has attended all members complete in each year a training session under s.

73.03 (55) and unless that member is the municipality's chief executive officer or that officer's designee.

All but one member of the board may satisfy the training requirement under this subsection by participating in the training online.

At least one member shall attend training in-person each year.

The municipal clerk shall provide an affidavit to the department of revenue stating whether the requirement under this subsection has been fulfilled.

SECTION 9.

70.855 (4) (b) of the statutes is amended to read:

70.855 (4) (b) If the department of revenue does not receive the fee imposed on a municipality under par.

(a) by March 31 of the year following the department's determination under sub.

(2) (b), the department shall reduce the distribution made to the municipality under s.

79.02 (2) (b) (1) by the amount of the fee and shall transfer that amount to the appropriation under s.

20.566 (2) (ga).

SECTION 10.

70.995 (8) (c) 1.

of the statutes is amended to read:

70.995 (8) (c) 1.

All objections to the amount, valuation, taxability, or change from assessment under this section to assessment under s.

70.32 (1) of property shall be first made in writing on a form prescribed by the department of revenue that specifies that the objector shall set forth the reasons for the objection, the objector's estimate of the correct assessment, and the basis under s.

70.32 (1) for the objector's LRB-5373/1 - 2020 Legislature - 9 - JK:wlj&amn S ECTION 10 SENATE BILL 720 estimate of the correct assessment.

An objection shall be filed with the state board of assessors within the time prescribed in par.

(b) 1.

A $45 $200 fee shall be paid when the objection is filed unless a fee has been paid in respect to the same piece of property and that appeal has not been finally adjudicated.

The objection is not filed until the fee is paid.

Neither the state board of assessors nor the tax appeals commission may waive the requirement that objections be in writing.

Persons who own land and improvements to that land may object to the aggregate value of that land and improvements to that land, but no person who owns land and improvements to that land may object only to the valuation of that land or only to the valuation of improvements to that land.

SECTION 11.

70.995 (8) (d) of the statutes is amended to read:

70.995 (8) (d) A municipality may file an objection with the state board of assessors to the amount, valuation, or taxability under this section or to the change from assessment under this section to assessment under s.

70.32 (1) of a specific property having a situs in the municipality, whether or not the owner of the specific property in question has filed an objection.

Objection shall be made on a form prescribed by the department and filed with the board within the time prescribed in par.

(b) 1.

If the person assessed files an objection and the municipality affected does not file an objection, the municipality affected may file an appeal to that objection within 15 days after the person's objection is filed.

A $45 $200 filing fee shall be paid when the objection is filed unless a fee has been paid in respect to the same piece of property and that appeal has not been finally adjudicated.

The objection is not filed until the fee is paid.

The board shall forthwith notify the person assessed of the objection filed by the municipality.

SECTION 12.

70.995 (14) (b) of the statutes is amended to read:

- 2020 Legislature - 10 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 S ECTION 12 70.995 (14) (b) If the department of revenue does not receive the fee imposed on a municipality under par.

(a) by March 31 of each year, the department shall reduce the distribution made to the municipality under s.

79.02 (2) (b) (1) by the amount of the fee.

S ECTION 13.

71.04 (1) (a) of the statutes is amended to read:

71.04 (1) (a) All income or loss of resident individuals and resident estates and trusts shall follow the residence of the individual, estate or trust.

Income or loss of nonresident individuals and nonresident estates and trusts from business, not requiring apportionment under sub.

(4), (10) or (11), shall follow the situs of the business from which derived, except that all income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.

All items of income, loss and deductions of nonresident individuals and nonresident estates and trusts derived from a tax-option corporation not requiring apportionment under sub.

(9) shall follow the situs of the business of the corporation from which derived, except that all income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.

Income or loss of nonresident individuals and nonresident estates and trusts derived from rentals and royalties from real estate or tangible personal property, or from the operation of any farm, mine or quarry, or from the sale of real property or tangible personal property shall follow the situs of the property from which derived.

Income from personal services of nonresident individuals, including income from professions, shall follow the situs of the services.

A nonresident limited partner's distributive share of partnership income shall follow the situs of the business, except that all income that is realized LRB-5373/1 - 2020 Legislature - 11 - JK:wlj&amn SECTION 13 SENATE BILL 720 from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.

A nonresident limited liability company member's distributive share of limited liability company income shall follow the situs of the business, except that all income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.

Income of nonresident individuals, estates and trusts from the state lottery under ch.

565 is taxable by this state.

Income of nonresident individuals, estates and trusts from any multijurisdictional lottery under ch.

565 is taxable by this state, but only if the winning lottery ticket or lottery share was purchased from a retailer, as defined in s.

565.01 (6), located in this state or from the department.

Income of nonresident individuals, nonresident trusts and nonresident estates from pari-mutuel winnings or purses under ch.

562 is taxable by this state.

Income of nonresident individuals, estates and trusts from winnings from a casino or bingo hall that is located in this state and that is operated by a Native American tribe or band shall follow the situs of the casino or bingo hall.

Income derived by a nonresident individual from a covenant not to compete is taxable by this state to the extent that the covenant was based on a Wisconsin-based activity.

All other income or loss of nonresident individuals and nonresident estates and trusts, including income or loss derived from land contracts, mortgages, stocks, bonds and securities or from the sale of similar intangible personal property, shall follow the residence of such persons, except as provided in par.

(b) and sub.

(9), except that all income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.

- 2020 Legislature - 12 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 SECTION 14 SECTION 14.

71.04 (1) (b) (intro.) of the statutes is amended to read:

71.04 (1) (b) (intro.For Except as provided in par.

(c), for purposes of determining the situs of income under this section:

SECTION 15.

71.04 (1) (c) of the statutes is created to read:

71.04 (1) (c) Except as provided in subs.

(4), (9), and (9m), the situs of income or loss of nonresident individuals and nonresident estates and trusts is as follows:

~~Page~~Except ~~23,~~as ~~line~~provided 4:in subds.

~~delete~~3. ~~“2018"~~ ~~and~~ ~~substitute~~ ~~“2019".~~

and 4., income from services performed by nonresident individuals shall follow the situs of the services.

~~Page~~Income ~~37,~~or ~~line~~loss ~~18:~~from business, not requiring apportionment under sub.

~~delete~~(4), ~~“department's".~~(10), or (11), shall follow the situs of the business from which derived, except that all income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.

~~Page~~All ~~37,~~items ~~line~~of ~~19:~~income, loss, and deductions derived from a tax-option corporation not requiring apportionment under sub.

~~after~~(9) ~~“final~~shall ~~determination"~~follow ~~insert~~the ~~“by~~situs of the ~~Internal~~business ~~Revenue~~of ~~Service".~~the corporation from which derived, except that all income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.

All items of income, loss, and deductions derived from a partnership or limited liability company not requiring apportionment under sub.

(9m) shall follow the situs of the business of the partnership or limited liability company from which derived, except that all income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.

LRB-5373/1 - 2020 Legislature - 13 - JK:wlj&amn S ECTION 15 SENATE BILL 720 5.

Income or loss derived from rentals and royalties from real estate or tangible personal property, or from the operation of any farm, mine or quarry, or from the sale of real property or tangible personal property shall follow the situs of the property from which derived.

Income from the state lottery under ch.

565 is taxable to this state.

Income from any multijurisdictional lottery under ch.

565 is taxable by this state, but only if the winning lottery ticket or lottery share was purchased from a retailer, as defined in s.

565.01 (6), located in this state or from the department.

Income from pari-mutuel winnings or purses under ch.

562 is taxable by this state.

Income from winnings from a casino or bingo hall that is located in this state and that is operated by a Native American tribe or band shall follow the situs of the casino or bingo hall.

Income derived by a nonresident individual from a covenant not to compete is taxable by this state to the extent that the covenant was based on a Wisconsin-based activity.

10.

All other income or loss of nonresident individuals and nonresident estates and trusts, including income or loss derived from land contracts, mortgages, stocks, bonds, and securities or from the sale of similar intangible personal property, shall follow the residence of such persons, except as provided in par.

(b) and subs.

(9) and (9m), except that all income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.

SECTION 16.

71.04 (3) (b) of the statutes is amended to read:

- 2020 Legislature - 14 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 S ECTION 16 71.04 (3) (b) Part-year residents, nonresidents.

All partners or members who are residents of this state for less than a full taxable year or who are nonresidents shall compute taxes for that year on their share of partnership or limited liability company income or loss under this chapter for the part of the taxable year during which they are nonresidents by recognizing their proportionate share of all items of income, loss or deduction attributable to a business in, services performed in, or rental of property in, this state.

S ECTION 17.

71.04 (4) (intro.) of the statutes is amended to read:

71.04 (4) N ONRESIDENT ALLOCATION AND APPORTIONMENT FORMULA.

(intro.) Nonresident individuals and nonresident estates and trusts engaged in business within and without the state shall be taxed only on such income as is derived from business transacted and property located within the state.

The amount of such income attributable to Wisconsin may be determined by an allocation and separate accounting thereof, when the business of such nonresident individual or nonresident estate or trust within the state is not an integral part of a unitary business, but the department of revenue may permit an allocation and separate accounting in any case in which it is satisfied that the use of such method will properly reflect the income taxable by this state.

In all cases in which allocation and separate accounting is not permissible, the determination shall be made in the following manner:

for all businesses except air carriers, financial organizations, telecommunications companies, pipeline companies, public utilities, railroads, and car line companies there shall first be deducted from the total net income of the taxpayer the part thereof (less related expenses, if any) that follows the situs of the property or the residence of the recipient.

The remaining, the net income shall be apportioned to this state by use of the following:

LRB-5373/1 - 2020 Legislature - 15 - JK:wlj&amn S ECTION 18 SENATE BILL 720 SECTION 18.

71.04 (9) of the statutes is amended to read:

71.04 (9) NONRESIDENT INCOME FROM MULTISTATE TAX-OPTION CORPORATION.

Nonresident individuals and nonresident estates and trusts deriving income from a tax-option corporation which is engaged in business within and without this state shall be taxed only on the income of the corporation derived from business transacted and property located in this state as computed under the apportionment formula under subs.

(4) and (4m) and losses and other items of the corporation deductible by such shareholders shall be limited to their proportionate share of the Wisconsin loss or other item as computed under the apportionment formula under subs.

(4) and (4m), except that all income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.

For purposes of this subsection, all intangible income of tax-option corporations, including intangible income, passed through to shareholders is business income that follows the situs of the business as computed under the apportionment formula under subs.

SECTION 19.

71.04 (9m) of the statutes is created to read:

71.04 (9m) N ONRESIDENT INCOME FROM MULTISTATE PARTNERSHIP AND LIMITED LIABILITY COMPAN.

Nonresident individuals and nonresident estates and trusts deriving income from a partnership or limited liability company which is engaged in business within and without this state shall be taxed only on the income of the partnership or limited liability company derived from business transacted and property located in this state as computed under the apportionment formula under - 2020 Legislature - 16 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 SECTION 19 subs.

(4) and (4m) and losses and other items of the partnership or limited liability company deductible by such partners and members shall be limited to their proportionate share of the Wisconsin loss or other item as computed under the apportionment formula under subs.

For purposes of this subsection, all partnership or limited liability company income, including intangible income, passed through to partners and members is presumed business income that follows the situs of the business as computed under the apportionment formula under subs.

SECTION 20.

71.05 (6) (b) 4.

of the statutes is amended to read:

71.05 (6) (b) 4.

Disability payments other than disability payments that are paid from a retirement plan, the payments from which are exempt under sub.

(1) (ae), (am), and (an), if the individual either is single or is married and files a joint return, to the extent those payments are excludable under section 105 (d) of the Internal Revenue Code as it existed immediately prior to its repeal in 1983 by section 122 (b) of P.L.

98-21, except that if is at least 65 years of age before the close of the taxable year to which the subtraction relates, retired on disability, and, when the individual retired, was permanently and totally disabled.

If an individual is divorced during the taxable year that individual may subtract an amount only if that person is disabled and the amount that may be subtracted then is $100 for each week that payments are received or the amount of disability pay reported as income, whichever LRB-5373/1 - 2020 Legislature - 17 - JK:wlj&amn S ECTION 20 SENATE BILL 720 is less.

If the exclusion under this subdivision is claimed on a joint return and only one of the spouses is disabled, the maximum exclusion is $100 for each week that payments are received or the amount of disability pay reported as income, whichever is less.

In this subdivision, “permanently and totally disabled" means an individual who is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than 12 months.

An individual shall not be considered permanently and totally disabled for purposes of this subdivision unless proof is furnished in such form and manner, and at such times, as prescribed by the department.

SECTION 21.

71.07 (9m) (h) of the statutes is amended to read:

71.07(9m) (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., 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., 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.

SECTION 22.

71.25 (6) (intro.) of the statutes is amended to read:

- 2020 Legislature - 18 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 S ECTION 22 71.25 (6) ALLOCATION AND SEPARATE ACCOUNTING AND APPORTIONMENT FORMULA.

(intro.) Corporations engaged in business within and without the state shall be taxed only on such income as is derived from business transacted and property located within the state.

The amount of such income attributable to Wisconsin may be determined by an allocation and separate accounting thereof, when the business of such corporation within the state is not an integral part of a unitary business, but the department of revenue may permit an allocation and separate accounting in any case in which it is satisfied that the use of such method will properly reflect the income taxable by this state.

In all cases in which allocation and separate accounting is not permissible, the determination shall be made in the following manner:

for all businesses except air carriers, financial organizations, telecommunications companies, pipeline companies, public utilities, railroads, car line companies and corporations or associations that are subject to a tax on unrelated business income under s.

71.26 (1) (a) there shall first be deducted from the total net income of the taxpayer the part thereof (less related expenses, if any) that follows the situs of the property or the residence of the recipient.

The remaining, the net income shall be apportioned to this state by use of the following:

S ECTION 23.

71.28 (6) (h) of the statutes is amended to read:

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., in whole or in part, to another person who is subject to the taxes imposed under s.

The transferor may file a claim for more than one taxable year on a form prescribed by the department LRB-5373/1 - 2020 Legislature - 19 - JK:wlj&amn S ECTION 23 SENATE BILL 720 to compute all years of the credit under par.

(a) 2m.

or 3., 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.

SECTION 24.

71.47 (6) (h) of the statutes is amended to read:

71.47 (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., in whole or in part, to another person who is subject to the taxes imposed under s.

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., at the time of the transfer request.

SECTION 25.

71.52 (1g) of the statutes is created to read:

71.52 (1g) “Earned income” means wages, salaries, tips, and other employee compensation that may be included in federal adjusted gross income for the taxable year, plus the amount of the claimant's net earnings from self-employment for the taxable year determined with regard to the deduction allowed to the taxpayer by section 164 (f) of the Internal Revenue Code.

For purposes of this subsection, a claimant's earned income is computed without regard to any marital property laws - 2020 Legislature - 20 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 S ECTION 25 and a claimant may elect to treat amounts excluded from federal adjusted gross income as earned income, as provided under section 112 of the Internal Revenue Code.

“Earned income” does not include the following:

(a) Any amount received as a pension or annuity.

(b) Any amount to which section 871 (a) of the Internal Revenue Code applies.

(d) Any amount received for service performed in work activities under paragraphs (4) or (7) of section 407 (d) of the Social Security Act to which the claimant is assigned under any state program under part A of title IV of the Social Security Act.

This paragraph applies only to amounts subsidized under any such state program.

S ECTION 26.

71.55 (10) of the statutes is amended to read:

71.55(10) FARMERS.

Notwithstanding the provision in s.

71.52 (6) that requires the addition of certain disqualified losses to income, such an addition may not be made by a claimant who is a farmer whose primary income is from farming and whose farming generates less than $250,000 in gross receipts from the operation of farm premises in the year to which the claim relates.

For purposes of this subsection, a claimant's primary income is from farming if the claimant's gross income from farming for the year to which the claim relates is greater than 50 percent of the claimant's total gross income from all sources for the year to which the claim relates.

In this subsection, “gross income” has the meaning given in s.

71.03 (1).

S ECTION 27.

71.738 (3c) of the statutes is created to read:

LRB-5373/1 - 2020 Legislature - 21 - JK:wlj&amn S ECTION 27 SENATE BILL 720 71.738 (3c) “Pass-through entity" means a partnership, a limited liability company, a tax-option corporation, an estate, or a trust that is treated as a pass-through entity for federal income tax purposes.

SECTION 28.

71.738 (3d) of the statutes is created to read:

71.738 (3d) “Pass-through item" means a tax-option item under s.

71.34 (3) or an item of income, gain, loss, deduction, credit, or any other item that originates with a pass-through entity and is required to be reported by one or more pass-through members under this chapter.

SECTION 29.

71.738 (3f) of the statutes is created to read:

71.738 (3f) “Pass-through member" means a person who is a partner in a partnership, shareholder in a tax-option corporation, beneficiary of an estate or a trust, or any other person whose tax liability under this chapter is determined in whole or in part by taking into account the person's share of pass-through items, directly or indirectly, from a pass-through entity.

SECTION 30.

71.738 (3g) of the statutes is created to read:

71.738 (3g) “Person” includes a pass-through entity, SECTION 31.

71.738 (5b) of the statutes is created to read:

71.738 (5b) “Taxpayer” includes a pass-through entity, SECTION 32.

71.745 of the statutes is created to read:

71.745 Pass-through entity audits, additional assessments and refunds at the entity level.

(1) AUDIT ASSESSMENTS AND REFUNDS.

Except as provided in s.

71.80 (27), the department may audit and assess tax to a pass-through entity on income otherwise reportable by the pass-through members at the highest tax rate applicable under this chapter.

The department may issue a refund to a - 2020 Legislature - 22 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 S ECTION 32 pass-through entity when the audit results in an overpayment of tax originally paid by the entity.

(2) ADJUSTMENT OF CREDIT.

Except as provided in s.

71.80 (27), the department may correct the credit computation of a pass-through entity resulting from a department audit under this subchapter at the pass-through entity level, and may apply the credit adjustment to an assessment or refund issued to the pass-through entity.

(3) A DJUSTMENTS TO THE PASS-THROUGH ENTITY ARE ATTRIBUTABLE TO THE MEMBERS.

Except when an election under s.

71.21 (6) (a) or 71.365 (4m) (a) is made, any adjustments to income, gain, loss, deduction, or credit made to the pass-through entity under this section are attributable to each pass-through member in a manner that is consistent with the treatment of such income, gain, loss, deduction, or credit to the pass-through entity.

(4) L IABILITY MAY BE ASSESSED TO MORE THAN ONE PERSOIf for any reason a pass-through entity fails to timely make any report or payment required under this subchapter, the department may assess the pass-through members for any liability resulting from an audit under this subchapter.

If for any reason a pass-through member fails to timely make any report or payment required under this subchapter, the department may assess the pass-through entity for any liability resulting from an audit under this subchapter.

S ECTION 33.

71.75 (11) of the statutes is created to read:

71.75 (11) The department shall not issue a refund to a pass-through entity except when the claim is for overpayment of tax originally paid by the entity.

S ECTION 34.

71.76 of the statutes is amended to read:

LRB-5373/1 - 2020 Legislature - 23 - JK:wlj&amn SECTION 34 SENATE BILL 720 71.76 Internal revenue service and other state adjustments.

If for any year the amount of federal net income tax payable, of a credit claimed or carried forward, of a net operating loss carried forward or of a capital loss carried forward of any taxpayer as reported to the internal revenue service is changed or corrected by the internal revenue service or other officer of the United States, such taxpayer shall report such changes or corrections to the department within 90ys after its final determination and shall concede the accuracy of such determination or state how the determination is erroneous.

Such changes or corrections need not be reported unless they affect the amount of net tax payable under this chapter, of a credit calculated under this chapter, of a Wisconsin net operating loss carried forward, of a Wisconsin net business loss carried forward or of a capital loss carried forward under this chapter.

Any taxpayer submitting an amended return to the internal revenue service, or to another state if there has been allowed a credit against Wisconsin taxes for taxes paid to that state, shall also file, within 90 180 days of such filing date, an amended return if any information contained on the amended return affects the amount of net tax payable under this chapter of a credit calculated under this chapter, of a Wisconsin net operating loss carried forward, of a Wisconsin net business loss carried forward or of a capital loss carried forward under this chapter.

S ECTION 35.

71.77 (7) (b) of the statutes is amended to read:

71.77 (7) (b) If notice of assessment or refund is given to the taxpayer within 90 180 days of the date on which the department receives a report from the taxpayer under s.

71.76 or within such other period specified in a written agreement entered into prior to the expiration of such 90ays by the taxpayer and the department.

If the taxpayer does not report to the department as required under s.

71.76, the - 2020 Legislature - 24 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 S ECTION 35 department may make an assessment against the taxpayer or refund to the taxpayer within 4 years after discovery by the department.

S ECTION 36.

71.775 (1) (intro.) and (a) of the statutes are consolidated, renumbered 71.775 (1) and amended to read:

71.775 (1) D EFINITIONS.

In this section:

(a) “Nonresident", “nonresident” includes an individual who is not domiciled in this state;

a partnership, limited liability company, or corporation whose commercial domicile is outside the state;

and an estate or a trust that is a nonresident under s.

71.14 (1) to (3m).

S ECTION 37.

71.775 (1) (b) of the statutes is repealed.

S ECTION 38.

71.78 (1) of the statutes is amended to read:

71.78 (1) DIVULGING INFORMATION.

Except as provided in subs.

(4), (4m) and (10), and (11), no person may divulge or circulate or offer to obtain, divulge, or circulate any information derived from an income, franchise, withholding, fiduciary, partnership, or limited liability company tax return or tax credit claim, including information which may be furnished by the department as provided in this section.

This subsection does not prohibit publication by any newspaper of information lawfully derived from such returns or claims for purposes of argument or prohibit any public speaker from referring to such information in any address.

This subsection does not prohibit the department from publishing statistics classified so as not to disclose the identity of particular returns, or claims or reports and the items thereof.

This subsection does not prohibit employees or agents of the department of revenue from offering or submitting any return, including joint returns of a spouse or former spouse, separate returns of a spouse, individual returns of a spouse or former spouse, and combined individual income tax returns, or from offering or submitting any claim, schedule, exhibit, writing, or audit report or a copy of, and any LRB-5373/1 - 2020 Legislature - 25 - JK:wlj&amn S ECTION 38 SENATE BILL 720 information derived from, any of those documents as evidence into the record of any contested matter involving the department in proceedings or litigation on state tax matters if, in the department's judgment, that evidence has reasonable probative value.

SECTION 39.

71.78 (11) of the statutes is created to read:

71.78 (11) PASS-THROUGH ENTITY AUDITS.

If the department audits a pass-through entity for the income or franchise taxes of its pass-through members, including when an election is made under s.

71.21 (6) (a) or 71.365 (4m) (a) to pay tax at the entity level, the department may disclose the following:

(a) To a pass-through member that the pass-through entity is under audit or was audited, if the disclosure is necessary to explain any amounts assessed or refunded to the pass-through member or to obtain information necessary to determine the proper amount of adjustment to make at the pass-through entity level.

(b) To a pass-through entity, the identities of one or more members who have failed to report pass-through items originating with the entity on their Wisconsin returns, if the disclosure is necessary to explain any amounts assessed or refunded to the pass-through entity or to obtain information about a pass-through member's return in order to determine the proper amount of adjustment to make at the pass-through entity level.

SECTION 40.

71.80 (26) of the statutes is created to read:

71.80 (26) T AX MATTERS MEMBER OF A PASS-THROUGH ENTITY .

(a) Each pass-through entity filing a return in this state under this chapter shall designate one pass-through member as the tax matters member on the pass-through entity's return filed in this state for each taxable year.

If no tax matters member is - 2020 Legislature - 26 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 SECTION 40 designated on the return or no return is filed, the pass-through entity shall appoint a tax matters member no later than 30 days after a written request by the department.

If no member is so appointed, the department may designate the tax matters member and notify the pass-through entity in writing of the designation.

The pass-through entity may at any time provide a written statement designating a new tax matters member and the department shall accept it if it is signed by an authorized agent of the pass-through entity.

The tax matters member for this state may be different from the entity's federal tax matters member.

(b) With regard to a department audit of a pass-through entity for income or franchise taxes, the tax matters member has the power and duty to do all of the following:

Act as the sole authority on behalf of the pass-through entity with respect to the year under review.

The pass-through members are bound by actions of the tax matters member under this subdivision.

Provide the department sufficient information to identify each pass-through member, and the profits interest of each pass-through member, for each taxable year affected by the audit.

Represent the pass-through entity and keep all pass-through members informed.

Enter extension agreements on behalf of the pass-through entity under s.

71.77 (5).

Receive pass-through entity adjustment notices.

Notify all pass-through members of their share of corrections and adjustments made to the pass-through entity within 90 days after the final determination date of the notice.

LRB-5373/1 - 2020 Legislature - 27 - JK:wlj&amn S ECTION 40 SENATE BILL 720 7.

File appeals of pass-through entity adjustment notices.

Enter a settlement agreement related to pass-through entity items from the entity that is binding on the pass-through members.

(b) to an authorized agent.

SECTION 41.

71.80 (27) of the statutes is created to read:

71.80 (27) XCEPTION TO PASS-THROUGH ENTITY LEVEL ASSESSM.

No later than 60 days after receipt of the department's audit determination, in a manner prescribed by the department, a pass-through entity with 5 or fewer members for all years under review may elect an audit assessment to be assessed separately to each pass-through member.

This subsection does not apply to a pass-through entity if one or more of its members is a pass-through entity for any year under review or if the pass-through entity has made an election for the taxable year under s.

71.21 (6) (a) or 71.365 (4m) (a).

The election under this subsection does not dismiss the duties of a tax matters member provided under sub.

(26) (a) and (b) 2., 3., and 6.

SECTION 42.

71.83 (1) (a) 12.

of the statutes is created to read:

71.83 (1) (a) 12.

`Incomplete or incorrect pass-through entity return.' If any pass-through entity, as defined in s.

71.738 (3c), required under this chapter to file a return files an incomplete or incorrect return, the department, upon a showing by the department under s.

73.16 (4), shall assess the pass-through entity an amount equal to 25 percent of the amount of tax assessed under s.

71.745.

The amount shall be assessed, levied, and collected in the same manner as additional income or franchise taxes.

SECTION 43.

71.87 of the statutes is amended to read:

- 2020 Legislature - 28 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 SECTION 43 71.87 Definition.

In this subchapter, “person feeling aggrieved" and “person aggrieved" include includes a pass-through entity, as defined in s.

71.738 (3c), and the spouse of a person against whom an additional assessment was made or who was denied a claim for refund for a taxable year for which a separate return was filed and include either spouse for a taxable year for which a joint return was filed or, if no return was filed, a joint return could have been filed.

SECTION 44.

73.0305 of the statutes is amended to read:

73.0305 Revenue limits calculations.

The department of revenue shall annually determine and certify to the state superintendent of public instruction, no later than the 4th Monday in June at the superintendent's request, the allowable rate of increase under subch.

VII of ch.

121.

The allowable rate of increase is the percentage change, if not negative, in the consumer price index for all urban consumers, U.S.

city average, between the preceding March 31 and the 2nd preceding March 31, as computed by the federal department of labor.

SECTION 45.

73.09 (4) (c) of the statutes is amended to read:

73.09(4) (c) Recertification is contingent upon submission of an application for renewal, at least 60 days before the expiration date of the current certificate, attesting to the completion of the requirements specified in par.

Persons applying for renewal on the basis of attendance at the meetings called by the department under s.

73.06 (1) and by meeting continuing education requirements shall submit a $20ecertification fee, in an amount determined by the department not to exceed $75, with their applications.

SECTION 46.

73.09 (5) of the statutes is amended to read:

73.09 (5) EXAMINATIONS.

As provided in subs.

(1) and (2), the department of revenue shall prepare and administer examinations for each level of certification.

LRB-5373/1 - 2020 Legislature - 29 - JK:wlj&amn SECTION 46 SENATE BILL 720 A person applying for an examination under this subsection shall submit a $20 examination fee with the person's application.

If the department administers and grades the examinations, the fee shall be the amount equal to the department's best estimate of the actual cost to administer and grade the examinations, but no greater than $75.

If a test service provider administers and grades the examinations, the fee shall be the amount equal to the department's best estimate of the provider's actual cost to administer and grade the examinations, but no greater than $75.

The department of revenue shall grant certification to each person who passes the examination for that level.

S ECTION 47.

73.16 (4) of the statutes is amended to read:

73.16 (4) N EGLIGENCE DETERMINATIONS.

The department shall not impose a penalty on a taxpayer under ss.

71.09 (11) (d), 71.83 (1) (a) 1.

tand (3) (a), 76.05 (2), 76.14, 76.28 (6) (b), 76.39 (3), 76.645 (2), 77.60 (2) (intro.), (3), and (4), 78.68 (3) and (4), and 139.25 (3) and (4), unless the department shows that the taxpayer's action or inaction was due to the taxpayer's willful neglect and not to reasonable cause.

S ECTION 48.

74.315 (1) of the statutes is amended to read:

74.315 (1) S UBMISSION.

No later than October 1 of each year, the taxation district clerk shall submit to the department of revenue, on a form prescribed by the department, a listing of all the omitted taxes under s.

70.44 to be included on the taxation district's next tax roll, if the total of all suchxes exceeds $5,000 for any single description of property are $250 or more.

S ECTION 49.

74.315 (1m) of the statutes is created to read:

74.315 (1m) A MOUNT COLLECTED FROM PROPERTY IN A TAX INCREMENTAL DISTRI.T A tax may not be included on a form submitted under sub.

(1) if the tax was levied - 2020 Legislature - 30 - LRB-5373/1 JK:wlj&amn SENATE BILL 720 S ECTION 49 on a property within a tax incremental district, as defined in s.

60.85 (1) (n) or 66.1105 (2) (k), unless the current value of the tax incremental district is lower than the tax incremental base, as defined in s.

60.85 (1) (m) or 66.1105 (2) (j), in the assessment year for which the tax was collected.

S ECTION 50.

74.315 (2) of the statutes is amended to read:

74.315 (2) EQUALIZED VALUATIONAMOUNT DETERMINED.

After receiving the form under sub.

(1), but no later than November 15, the department of revenue shall determine the amount of any change in the taxation district's equalized valuation that results from considering the valuation represented by the taxes described under sub.

(1) taxes to be shared with each taxing jurisdiction for which the taxation district collected taxes and determine the amount of taxes collected under s.

70.44 to be shared with each taxing jurisdiction for which the taxation district collected taxes.

Latest

- 2020 LEGISLATURE ~~LRBa1095/1~~ ~~JK:cjs~~ SENATE ~~AMENDMENT~~ 1, TO ~~SENATE~~ ~~SUBSTITUTE~~ ~~AMENDMENT~~ 1, TO ~~SENATE~~ ~~BILL~~ ~~720~~ ~~February~~ 5, ~~2020~~ - ~~Offered~~ by ~~SenatoARKLEI.~~

- 2020 LEGISLATURE LRB-5373/1 JK:wlj&amn SENATE BILL 720 January 24, 2020 - Introduced by Senators M ARKLEIN, KOOYENGA and SMITH, cosponsored by Representatives WITTK, M ACCO, KATSMA, ZIMMERMAN and OHNSTAD .

At ~~the~~ ~~locations~~ ~~indicated,~~ ~~amend~~ ~~the~~ ~~substitute~~ ~~amendment~~ as ~~follows:~~

Referred to Committee on Agriculture, Revenue and Financial Institutions.