Wisconsin § 76.639 - Low-income housing credit.

§ 76.639. Low-income housing credit.

76.639(1) (1) Definitions. In this section: 76.639(1)(a) (a) “Allocation certificate” means a statement issued by the authority certifying that a qualified development is eligible for a credit under this subsection and specifying the amount of the credit that the owners of the qualified development may claim. 76.639(1)(b) (b) “Authority” means the Wisconsin Housing and Economic Development Authority. 76.639(1)(c) (c) “Claimant” means an insurer who has an ownership interest in a qualified development and who files a claim under this section. 76.639(1)(d) (d) “Compliance period” means the 15-year period beginning with the first taxable year of the credit period. 76.639(1)(e) (e) “Credit period” means the period of 6 taxable years beginning with the taxable year in which a qualified development is placed in service. For purposes of this paragraph, if a qualified development consists of more than one building, the qualified development is placed in service in the taxable year in which the last building of the qualified development is placed in service. 76.639(1)(f) (f) “Qualified basis” means the qualified basis determined under section 42 (c) (1) of the Internal Revenue Code. 76.639(1)(g) (g) “Qualified development” means a qualified low-income housing project under section 42 (g) of the Internal Revenue Code that is located in this state. 76.639(2) (2) Filing claims. Subject to the limitations provided in this section and in s.