2010 Wisconsin Code
Chapter 560. Department of commerce.
560.2056 Food processing plant and food warehouse investment credit.

560.2056

560.2056 Food processing plant and food warehouse investment credit.

560.2056(1)

(1) The department of commerce shall implement a program to certify taxpayers as eligible for the food processing plant and food warehouse investment credit under ss. 71.07 (3rn), 71.28 (3rn), and 71.47 (3rn).

560.2056 - ANNOT.

NOTE: The cross-references to ss. 71.07 (3rn), 71.28 (3rn), and 71.47 (3rn) were changed from ss. 71.07 (3rm), 71.28 (3rm), and 71.47 (3rm) by the legislative reference bureau under s. 13.92 (1) (bm) 2. to reflect the renumbering under s. 13.92 (1) (bm) 2. of ss. 71.07 (3rm), 71.28 (3rm), and 71.47 (3rm), as created by 2009 Wis. Act 295.

560.2056(2)

(2) If the department of commerce certifies a taxpayer under sub. (1), the department of commerce shall determine the amount of credits to allocate to that taxpayer. The total amount of food processing plant and food warehouse investment credits allocated to taxpayers in fiscal year 2009-10 may not exceed $600,000 and the total amount of food processing plant and food warehouse investment credits allocated to taxpayers in fiscal year 2010-11, and in each fiscal year thereafter, may not exceed $700,000.

560.2056(3)

(3) The department of commerce shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.

560.2056(4)

(4) The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section.

560.2056 - ANNOT.

History: 2009 a. 295; s. 13.92 (1) (bm) 2.