LRB-1361/P1
EKL:amn
2019 - 2020 LEGISLATURE
DOA:......Quinn, BB0198 - Restore and Increase Enterprise Zone Cap
For 2019-2021 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
commerce and economic development
Economic development
1. Cap on enterprise zones
This bill provides that WEDC may designate up to 35 enterprise zones under the enterprise zone tax credit program. The bill also repeals the requirement that WEDC receive approval from the Joint Committee on Finance prior to designating an enterprise zone. Under current law, WEDC may designate an unlimited number of enterprise zones, with each designation subject to approval by the Joint Committee on Finance under passive review.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 238.399 (3) (a) of the statutes is amended to read:
238.399 (3) (a) The corporation may designate
any number of enterprise zones in this state not more than 35 enterprise zones.
Section
2. 238.399 (3) (am) of the statutes is repealed.
Section
3. 238.399 (3) (e) of the statutes is created to read:
238.399 (3) (e) If the corporation revokes all certifications for tax benefits within a designated enterprise zone, the corporation may cancel the designation of that enterprise zone. After canceling the designation of an enterprise zone, the corporation may designate a new enterprise zone subject to the limits of this subsection.
(End)
