Section 93.547. Woody biomass harvesting and processing credit.

 

(1)  The department shall implement a program to certify taxpayers as eligible for the woody biomass harvesting and processing credit under ss. 71.07 (3rm) , 71.28 (3rm) , and 71.47 (3rm) .

(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 woody biomass harvesting and processing credits allocated to taxpayers in any fiscal year may not exceed $900,000. In each fiscal year, the department shall allocate $450,000 in tax credits to businesses that, individually, have no more than $5,000,000 in gross receipts from doing business in this state for the taxable year in which the credit is claimed.

(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.

2009 a. 269 ; 2011 a. 32 s. 3372 ; Stats. 2011 s. 93.547. Cross-reference: See also ch. ATCP 166 , Wis. adm. code.