Section 76.655. Health Insurance Risk-Sharing Plan assessments credit.

 

(1)   Definitions. In this section, “claimant" means an insurer, as defined in s. 149.10 (5) , 2011 stats., who files a claim under this section.

(2)   Filing claims. Subject to the limitations provided under this section, for taxable years beginning after December 31, 2005, and before January 1, 2015, a claimant may claim as a credit against the fees imposed under ss. 76.60 , 76.63 , 76.65 , 76.66 or 76.67 an amount that is equal to the amount of assessment under s. 149.13 , 2011 stats., that the claimant paid in the claimant's taxable year, multiplied by the percentage determined under sub. (3) .

(3)   Limitations.

(a) The department of revenue, in consultation with the office of the commissioner of insurance, shall determine the percentage under sub. (2) for each claimant for each taxable year. The percentage shall be equal to $5,000,000 divided by the aggregate assessment under s. 149.13 , 2011 stats., except that for taxable years beginning after December 31, 2013, and before January 1, 2015, the percentage shall be equal to $1,250,000 divided by the aggregate assessment under s. 149.13 , 2011 stats., and shall not exceed 100 percent. The office of the commissioner of insurance shall provide to each claimant that participates in the cost of administering the plan the aggregate assessment at the time that it notifies the claimant of the claimant's assessment. The aggregate amount of the credit under this subsection and ss. 71.07 (5g) , 71.28 (5g) , and 71.47 (5g) for all claimants participating in the cost of administering the plan under ch. 149 , 2011 stats., shall not exceed $5,000,000 in each fiscal year.

(b) The amount of any credits that a claimant is awarded under this section for taxable years beginning after December 31, 2005, and before January 1, 2008, may first be claimed against the fees imposed under ss. 76.60 , 76.63 , 76.65 , or 76.67 for taxable years beginning after December 31, 2007, and in the manner determined by the department of revenue.

(4)   Carry-forward. If the credit under sub. (2) is not entirely offset against the fees imposed under ss. 76.60 , 76.63 , 76.65 , 76.66 , or 76.67 that are otherwise due, the unused balance may be carried forward and credited against those fees in the following 15 years to the extent that it is not offset by those fees otherwise due in all the years between the year in which the assessment was paid and the year in which the carry-forward credit is claimed.

(5)   Sunset. No credit may be claimed under this section for taxable years beginning after December 31, 2014. Credits under this section for taxable years that begin before January 1, 2015, may be carried forward to taxable years that begin after December 31, 2014.

2005 a. 74 ; 2013 a. 20 , 116 .