238.045 Establishment of nonprofit organization.
238.046 Private interest in public contract.
238.05 Department of commerce assistance and coordination.
238.06 Liability limited.
238.07 Submission of annual reports to legislature.
238.08 Records of the corporation.
238.09 Procurement policies and procedures.
238.10 Allocation of volume cap on tax-exempt bonds.
238.11 Employment impact estimates.
238.12 Repayment of grants, loans, and tax benefits.
238.125 Notification of position openings; compliance.
238.127 State main street program.
238.13 Brownfields grant program.
238.133 Brownfield site assessment grants.
238.135 Grants to regional economic development organizations.
238.15 Early stage business investment program.
238.17 Historic rehabilitation tax credit.
238.25 Assistance to loan recipients.
238.26 Report to investment board.
SUBCHAPTER II
TAX INCENTIVES FOR BUSINESS DEVELOPMENT
238.301 Certification for tax benefits.
238.302 Eligible activities.
238.303 Limits on tax benefits and claiming tax benefits.
238.304 Eligible activities in economically distressed areas and benefiting members of targeted groups.
238.3045 Transferability of tax benefits.
238.305 Revocation of certification.
238.306 Responsibilities of the corporation.
238.31 Designation of development zone.
238.315 Invitation to nominate area.
238.32 Application by local governing bodies.
238.325 Evaluation by corporation.
238.335 Boundaries and size of development zones.
238.34 Change in boundary and size of development zones.
238.345 Duration, renewal and expiration.
238.35 Additional duties of the corporation.
238.363 Duties of local governing bodies.
238.365 Certification for tax benefits.
238.368 Limits on tax benefit to certified person.
238.37 Revocation of certification.
238.38 Certification prohibited in certain cases.
238.385 Rules on eligibility for tax benefits.
238.395 Development opportunity zones.
238.397 Enterprise development zone program.
238.398 Agricultural development zone.
238.3995 Airport development zones.
GENERAL PROVISIONS
238.01
238.01
Definitions. In this chapter, except as otherwise provided:
238.01(1)
(1) "Board" means the board of directors of the corporation.
238.01(2)
(2) "Corporation" means the Wisconsin Economic Development Corporation.
238.01(3)
(3) "Economic development program" means a program or activity having the primary purpose of encouraging the establishment and growth of business in this state, including the creation and retention of jobs.
238.01 History
History: 2011 a. 7.
238.02
238.02
Creation and organization of corporation. 238.02(1)(1) There is created an authority, which is a public body corporate and politic, to be known as the "Wisconsin Economic Development Corporation." The members of the board shall consist of the governor, who shall serve as chairperson of the board, and 6 members nominated by the governor, and with the advice and consent of the senate appointed, to serve at the pleasure of the governor; 3 members appointed by the speaker of the assembly, consisting of one majority and one minority party representative to the assembly, appointed as are the members of standing committees in the assembly, and one person employed in the private sector, to serve at the speaker's pleasure; and 3 members appointed by the senate majority leader, consisting of one majority and one minority party senator, appointed as are members of standing committees in the senate, and one person employed in the private sector, to serve at the majority leader's pleasure. The secretary of administration and the secretary of revenue shall also serve on the board as nonvoting members.
238.02(2)
(2) A majority of the voting members of the board constitutes a quorum for the purpose of conducting its business and exercising its powers and for all other purposes, notwithstanding the existence of any vacancies. Action may be taken by the board upon a vote of a majority of the voting members present.
238.02(3)
(3) A chief executive officer shall be nominated by the governor, and with the advice and consent of the senate appointed, to serve at the pleasure of the governor. The board may delegate to the chief executive officer any powers and duties the board considers proper. The chief executive officer shall receive such compensation as may be determined by the board.
238.02(4)
(4) All powers and duties assigned to the corporation under this chapter shall be exercised or carried out by the board, unless the board delegates the power or duty to an employee of the corporation.
238.02 History
History: 2011 a. 7,
32.
238.03
238.03
Duties of board. 238.03(1)(1) The board shall develop and implement economic programs to provide business support and expertise and financial assistance to companies that are investing and creating jobs in Wisconsin and to support new business start-ups and business expansion and growth in Wisconsin. The board may also develop and implement any other programs related to economic development in Wisconsin.
238.03(2)
(2) For each program developed and implemented by the board, the board shall do all of the following:
238.03(2)(a)
(a) Establish clear and measurable goals for the program that are tied to statutory or programmatic policy objectives.
238.03(2)(b)
(b) Establish at least one quantifiable benchmark for each program goal described in
par. (a).
238.03(2)(c)
(c) Require that each recipient of a grant or loan under the program submit a report to the corporation. Each contract with a recipient of a grant or loan under the program must specify the frequency and format of the report to be submitted to the corporation and the performance measures to be included in the report.
238.03(2)(d)
(d) Establish a method for evaluating the projected results of the program with actual outcomes as determined by evaluating the information described in
pars. (a) and
(b).
238.03(2)(e)
(e) Annually and independently verify, from a sample of grants and loans, the accuracy of the information required to be reported under
par. (c).
238.03(3)
(3) The board shall require for each program developed and implemented by the board all of the following:
238.03(3)(a)
(a) That each recipient of a grant or loan under the program of at least $100,000 submit to the corporation, within 120 days after the end of the recipient's fiscal year in which any grant or loan funds were expended, a schedule of expenditures of the grant or loan funds, including expenditures of any matching cash or in-kind match, signed by the director or principal officer of the recipient to attest to the accuracy of the schedule of expenditures. The recipient shall engage an independent certified public accountant to perform procedures, approved by the corporation and consistent with applicable professional standards of the American Institute of Certified Public Accountants, to determine whether the grant or loan funds and any matching cash or in-kind match were expended in accordance with the grant or loan contract. The board shall also require the recipient of such a grant or loan to make available for inspection the documents supporting the schedule of expenditures. The board shall include the requirements under this paragraph in the contract with grant or loan recipients.
238.03(3)(b)
(b) That the board, if a recipient of a grant or loan under the program submits false or misleading information to the corporation or fails to comply with the terms of a contract entered into with the corporation, without providing satisfactory explanation for the noncompliance, do all of the following:
238.03(3)(b)2.
2. Withhold future payments to be made to the recipient.
238.03 History
History: 2011 a. 7;
2013 a. 20.
238.04
238.04
Powers of board. The board shall have all the powers necessary or convenient to carry out the purposes and provisions of this chapter. In addition to all other powers granted the board under this chapter, the board may specifically:
238.04(1)
(1) Adopt, amend, and repeal any bylaws, policies, and procedures for the regulation of its affairs and the conduct of its business.
238.04(2)
(2) Have a seal and alter the seal at pleasure.
238.04(5)
(5) Accept gifts, grants, loans, or other contributions from private or public sources.
238.04(6)
(6) Establish the corporation's annual budget and monitor the fiscal management of the corporation.
238.04(7)
(7) Execute contracts and other instruments required for the operation of the corporation.
238.04(8)
(8) Employ any officers, agents, and employees that it may require and determine their qualifications, duties, and compensation.
238.04(9)
(9) Issue notes, bonds, and any other obligations.
