SB21: Bill Text

SB21,1461,12 (at) The requirements of pars. (a) to (ap) do not apply to a department, as defined in s. 15.01 (5), an independent agency, as defined in s. 15.01 (9), an authority created under subch. II of ch. 114 or under ch. 231, 233, 235, 237, or 279, or the University of Wisconsin System.

SB21,3938 Section 3938. 235.137 of the statutes is created to read:

SB21,1461,18 235.137 Regional revolving loan fund grant program. From the appropriation under s. 20.885 (3) (am), and from moneys transferred by the authority from existing programs, the authority shall establish a regional revolving loan fund grant program. The authority shall establish policies and procedures relating to the program, including all of the following:

SB21,1461,20 (1) Grants shall be awarded to multicounty regions in proportionate amounts based upon the percentage of the state population residing within each region.

SB21,1461,22 (2) Grants shall be awarded only to regional organizations having sufficient private sector involvement, as determined by the authority.

SB21,1461,24 (3) The authority shall approve the structure, regional investment strategy, and administrative guidelines of regional loan funds.

SB21,1462,3 (4) Each regional organization awarded a grant shall, at a time determined by the authority, make a report to the authority containing information required by the authority.

SB21,1462,6 (5) For each regional organization awarded a grant, the authority may annually assess a fee as a percentage of the moneys managed to the extent necessary to reimburse the authority for costs incurred for oversight and management.

SB21,3939 Section 3939. 235.16 (6) of the statutes is created to read:

SB21,1462,9 235.16 (6) Sunset. The authority may not award any tax benefits under this section after June 30, 2015.

SB21,3940 Section 3940. 235.17 (1) (b) of the statutes is created to read:

SB21,1462,16 235.17 (1) (b) The authority may not certify a person for a tax credit under this subsection if the person is not subject to the taxes imposed under s. 71.02, 71.08, 71.23, or 71.43, except that the authority may certify a nonprofit entity described under section 501 (c) (3) of the Internal Revenue Code for a tax credit under this subsection if the entity intends to sell or otherwise transfer the credit, as provided under s. 71.07 (9m) (h), 71.28 (6) (h), or 71.47 (6) (h).

SB21,3941 Section 3941. 235.17 (2) of the statutes is created to read:

SB21,1462,19 235.17 (2) The authority may certify up to $10,000,000 in tax credits under sub. (1) in any calendar year.

SB21,3942 Section 3942. 235.17 (3) of the statutes is created to read:

SB21,1462,23 235.17 (3) In determining whether to certify a person for a tax credit under sub. (1), the authority shall consider all of the following with respect to the activity for which the tax credit is claimed:

SB21,1462,24 (a) The number of full-time jobs that may be created.

SB21,1463,2 (b) The anticipated benefit to the state of the activity relative to the cost to the state of the tax credit.

SB21,1463,3 (c) The projected impact of the activity on the local economy.

SB21,1463,5 (d) Whether the activity or investments associated with the activity would occur without the tax credit.

SB21,1463,7 (e) The number of tax credits that have been certified under sub. (1) in the same county or municipality in prior years.

SB21,3942d Section 3942d. 235.17 (4) of the statutes is created to read:

SB21,1463,16 235.17 (4) For 4 years following receipt of a tax credit under sub. (1), the original claimant shall report to the authority the total number of full-time jobs created by the activity for which the credit was claimed. The authority shall report to the department of revenue, at least once each calendar quarter, any claimant whose activity created fewer full-time jobs than projected under sub. (3) (a). The authority shall report to the department of revenue the name, address, and tax identification number of the claimant, and the number of full-time jobs projected and created.

SB21,3943 Section 3943. 235.17 (5) of the statutes is created to read:

SB21,1463,19 235.17 (5) The authority shall adopt policies and procedures for the administration of this section, including all of the following:

SB21,1463,20 (a) Process by which applicants may apply for certification under sub. (1).

SB21,1463,21 (b) Certification of the tax credit, in accordance with sub. (3).

SB21,1463,22 (c) Reporting requirements for certified claimants.

SB21,1463,23 (d) Process and criteria for revocation of certification.

SB21,3944 Section 3944. 235.30 (7) (e) of the statutes is created to read:

SB21,1464,2 235.30 (7) (e) In s. 235.308, "tax benefits" means the business development tax credit under ss. 71.07 (3y), 71.28 (3y), and 71.47 (3y).

SB21,3945 Section 3945. 235.303 (4) of the statutes is created to read:

SB21,1464,5 235.303 (4) Sunset. The corporation may not award any tax benefits under ss. 238.301 to 238.306 after June 30, 2015.

SB21,3946 Section 3946. 235.308 of the statutes is created to read:

SB21,1464,8 235.308 Business development tax credit. (1) Definition. In this section, "eligible position" means a full-time job offered by a person certified under sub. (2).

SB21,1464,10 (2) Certification. (a) The authority may certify a person to receive tax benefits under this section if all of the following apply:

SB21,1464,11 1. The person is operating or intends to operate a business in this state.

SB21,1464,13 2. The person applies under this section and enters into a contract with the authority.

SB21,1464,15 (b) The certification of a person under par. (a) may remain in effect for no more than 10 cumulative years.

SB21,1464,21 (3) Eligibility for tax benefits. A person is eligible to receive tax benefits if, in each year for which the person claims tax benefits under this section, the person increases net employment in this state in the person's business above the net employment in this state in the person's business during the year before the person was certified under sub. (2), as determined by the authority under its policies and procedures.

SB21,1464,23 (4) Awards, limits, expiration. (a) The authority may award all of the following tax benefits to a person certified under sub. (2):

SB21,1464,25 1. An amount equal to up to 10 percent of the amount of wages that the person paid to an employee in an eligible position in the taxable year.

SB21,1465,4 2. An amount equal to up to 5 percent of the amount of wages that the person paid to an employee in an eligible position in the taxable year, if the eligible position is offered at the claimant's business in an economically distressed area, as determined by the authority.

SB21,1465,9 3. An amount equal to up to 50 percent of the person's training costs incurred to undertake activities to enhance an employee's general knowledge, employability, and flexibility in the workplace; to develop skills unique to the person's workplace or equipment; or to develop skills that will increase the quality of the person's product.

SB21,1465,14 4. An amount equal to up to 3 percent of the person's personal property investment and 5 percent of the person's real property investment in a capital investment project, if the project involves a total capital investment of at least $1,000,000 or, if less than $1,000,000, the project involves a capital investment that is equal to at least $10,000 per employee employed on the project.

SB21,1465,20 5. An amount, as determined by the authority, equal to a percentage of the amount of wages that the person paid to an employee in an eligible position in the taxable year, if the eligible position was created or retained in connection with the person's location or retention of the person's corporate headquarters in Wisconsin and the job duties associated with the eligible position involve the performance of corporate headquarters functions.

SB21,1465,23 (b) Subject to a reallocation by the authority under s. 235.15 (3) (d), the authority may allocate up to $10,000,000 in tax benefits under this section in any calendar year. Any unused allocation may be carried forward.

SB21,1465,25 (5) Duties. (a) The authority shall notify the department of revenue, on at least a quarterly basis, when the authority certifies a person to receive tax benefits.

SB21,1466,2 (b) The authority shall notify the department of revenue within 30 days of revoking a certification made under sub. (2).

SB21,1466,5 (c) The authority may require a person to repay any tax benefits the person claims for a year in which the person failed to maintain an eligible position required by an agreement under sub. (2) (b).

SB21,1466,8 (d) The authority shall determine the maximum amount of the tax credits under ss. 71.07 (3y), 71.28 (3y), and 71.47 (3y) that a certified business may claim and shall notify the department of revenue of this amount on at least a quarterly basis.

SB21,1466,10 (e) The authority shall annually verify the information submitted to it by the person claiming tax benefits under ss. 71.07 (3y), 71.28 (3y), and 71.47 (3y).

SB21,1466,12 (f) The authority shall adopt policies and procedures for the implementation and operation of this section.

SB21,3947 Section 3947. 235.609 of the statutes is created to read:

SB21,1466,16 235.609 Bonds for certain mortgages and securities and for the housing development fund. The authority may issue its negotiable notes and bonds to do any of the following:

SB21,1466,20 (1) Purchase certain mortgages and securities and make secured loans for housing for persons and families of low and moderate income, for the rehabilitation of existing structures, and for the construction of facilities appurtenant to existing structures consistent with the provisions and purposes of this chapter.

SB21,1466,22 (2) Make secured loans to assist eligible elderly homeowners in paying property taxes and special assessments.

SB21,1466,24 (3) Provide moneys for the housing development fund in order to make temporary loans to sponsors of housing projects as provided in this subchapter.

SB21,3948 Section 3948. 236.13 (2m) of the statutes is amended to read:

SB21,1467,14 236.13 (2m) As a further condition of approval when lands included in the plat lie within 500 feet of the ordinary high-water mark of any lake, any navigable stream, or any other body of navigable water or if land in the proposed plat involves lake or navigable stream shorelands referred to in s. 236.16, the department of natural resources, to prevent pollution of navigable waters, or the department of safety and professional services, and to protect the public health and safety, may require assurance of adequate drainage areas for private on-site wastewater treatment systems and building setback restrictions, or provisions by the owner for public sewage disposal facilities for waters of the state, as defined in s. 281.01 (18), industrial wastes, as defined in s. 281.01 (5), and other wastes, as defined in s. 281.01 (7). The public sewage disposal facilities may consist of one or more systems as the department of natural resources or the department of safety and professional services determines on the basis of need for prevention of pollution of the waters of the state or protection of public health and safety.

SB21,3949 Section 3949. 237.07 (3) (a) of the statutes is amended to read:

SB21,1467,20 237.07 (3) (a) For each fiscal year, the authority shall submit to the department of administration an audited financial statement of the funding received by the authority from the department of natural resources under s. 237.08 (2) and by the authority from contributions and other funding accepted by the authority under s. 237.08 (3).

SB21,3950 Section 3950. 237.08 (2) of the statutes is repealed.

SB21,3951 Section 3951. Chapter 238 (title) of the statutes is repealed.

SB21,3952 Section 3952. Subchapter I (title) of chapter 238 [precedes 238.01] of the statutes is repealed.

SB21,3953 Section 3953. 238.01 (intro.) and (1) of the statutes are repealed.

SB21,3954 Section 3954. 238.01 (2) of the statutes is repealed.

SB21,3955 Section 3955. 238.01 (3) of the statutes is renumbered 235.01 (3).

SB21,3956 Section 3956. 238.02 of the statutes is repealed.

SB21,3957 Section 3957. 238.03 (title) of the statutes is renumbered 235.03 (title) and amended to read:

SB21,1468,7 235.03 (title) Duties of board the authority concerning economic development.

SB21,3958 Section 3958. 238.03 (1) of the statutes is repealed.

SB21,3959 Section 3959. 238.03 (2) of the statutes is renumbered 235.03 (2), and 235.03 (2) (intro.) and (c), as renumbered, are amended to read:

SB21,1468,12 235.03 (2) (intro.) For each program developed and implemented by the board authority under this subchapter, the board authority shall do all of the following:

SB21,1468,17 (c) Require that each recipient of a grant or loan under the program submit a report to the corporation authority. 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 authority and the performance measures to be included in the report.

SB21,3960 Section 3960. 238.03 (3) of the statutes is renumbered 235.03 (3), and 235.03 (3) (intro.), (a) and (b) (intro.), as renumbered, are amended to read:

SB21,1468,22 235.03 (3) (intro.) The board authority shall require for each economic development program developed and implemented by the board authority all of the following:

SB21,1469,14 (a) That each recipient of a grant or loan under the program of at least $100,000 submit to the corporation authority, 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 or at a different time as provided in policies and procedures approved by the board an attestation, 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. The attestation shall verify that the grant or loan funds and any matching cash or in-kind match were expended in accordance with the grant or loan contract.

SB21,1469,19 (b) (intro.) That the board authority, if a recipient of a grant or loan under the program submits false or misleading information to the corporation authority or fails to comply with the terms of a contract entered into with the corporation authority, without providing satisfactory explanation for the noncompliance, do all of the following:

SB21,3961 Section 3961. 238.04 of the statutes is repealed.

SB21,3962 Section 3962. 238.045 of the statutes is repealed.

SB21,3963 Section 3963. 238.046 of the statutes is renumbered 235.014, and 235.014 (1) and (2), as renumbered, are amended to read:

SB21,1470,13 235.014 (1) A member of the board or an employee of the corporation authority to whom the board delegates its authority to contract shall notify the corporation's authority's legal counsel or, if the corporation's legal counsel is unavailable, the chief executive officer of the corporation authority if the member or employee has a direct or indirect, private, pecuniary interest in a contract that is being negotiated, bid for, or entered into with the corporation authority. If the corporation's authority's legal counsel or chief executive officer is notified under this section, he or she shall report the name of the individual from whom he or she received the notification and the contract in which the individual has a private, pecuniary interest to the board. A member or employee who notifies the corporation's authority's legal counsel or chief executive officer under this section is not authorized to participate in the member's or employee's capacity as a member of the board or an employee of the corporation authority in the making of the contract or to perform in regard to the contract some official function requiring the exercise of discretion on the member's or employee's part.

SB21,1470,23 (2) An employee of the corporation authority shall notify the corporation's authority's legal counsel or, if the corporation's legal counsel is unavailable, the chief executive officer of the corporation authority if the employee has a controlling interest in an entity that is negotiating, bidding for, or entering into a contract with the corporation authority. If the corporation's authority's legal counsel or chief executive officer is notified under this section, he or she shall report the name of the individual from whom he or she received the notification and the contract at issue to the board. The board shall prohibit the corporation authority from entering into any contract with an entity in which an employee of the corporation authority has a controlling interest.