Section 93.535. Dairy manufacturing facility investment credit.

 

(1)  The department shall implement a program to certify taxpayers, including taxpayers who are members of dairy cooperatives, as eligible for the dairy manufacturing facility investment credit under ss. 71.07 (3p) , 71.28 (3p) , and 71.47 (3p) .

(2)  If the department certifies a taxpayer under sub. (1) , the department shall determine the amount of credits to allocate to that taxpayer. The total amount of dairy manufacturing facility investment credits allocated to taxpayers in fiscal year 2007-08 may not exceed $600,000 and the total amount of dairy manufacturing facility investment credits allocated to taxpayers who are not members of dairy cooperatives in fiscal year 2008-09, and in each fiscal year thereafter, may not exceed $700,000. The total amount of dairy manufacturing facility investment credits allocated to taxpayers who are members of dairy cooperatives in fiscal year 2009-10 may not exceed $600,000 and the total amount of dairy manufacturing facility investment credits allocated to taxpayers who are members of dairy cooperatives in fiscal year 2010-11, and in each fiscal year thereafter, may not exceed $700,000.

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

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

2007 a. 20 ; 2009 a. 2 ; 2011 a. 32 s. 3369 ; Stats. 2011 s. 93.535. Cross-reference: See also ch. ATCP 163 , Wis. adm. code.