Administration.
1.
(1)#
Section 71.28 (5b) (e) to (h), as it applies to the credit under s. 71.28 (5b), applies to the credit under this subsection.
(2)#
The Wisconsin adjusted basis of any investment for which a credit is claimed under par. (b) shall be reduced by the amount of the credit that is offset against Wisconsin income taxes. The Wisconsin basis of a partner’s interest in a partnership, a member’s interest in a limited liability company, or stock in a tax-option corporation shall be adjusted to reflect adjustments made under this subdivision.
(3)#
Except as provided under s. 238.15 (3) (d), for investments made after December 31, 2007, if an investment for which a claimant claims a credit under par. (b) is held by the claimant for less than 3 years, the claimant shall pay to the department, in the manner prescribed by the department, the amount of the credit that the claimant received related to the investment.