LRB-3810/1
PJK:wlj:kjf
2001 - 2002 LEGISLATURE
October 8, 2001 - Introduced by Representative Gard, cosponsored by Senator
Burke. Referred to Committee on Economic Development.
AB539,1,4 1An Act to renumber and amend 560.798 (2) (a) and 560.96 (2) (a); and to
2create
560.798 (2) (a) 1., 560.798 (2) (a) 2., 560.96 (2) (a) 1. and 560.96 (2) (a)
32. of the statutes; relating to: requiring joint committee on finance approval
4of the designation of technology zones and an agricultural development zone.
AB539,1,55 Analysis by the Legislative Reference Bureau
Under current law, the department of commerce (department) may designate
one area in the state as an agricultural development zone and up to eight areas in
the state as technology zones. A new or expanding agricultural business that is
located in the agricultural development zone and certified by the department, and
a new or expanding high-technology business that is located in a technology zone
and certified by the department, are eligible for certain tax credits.
This bill requires the department's designation of the agricultural development
zone and the technology zones to be approved by the joint committee on finance, and
provides that a business that is certified on or after the effective date of the act is
eligible for tax credits only if it is located in an agricultural development zone or a
technology zone that has been approved by the joint committee on finance.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB539, s. 1
1Section 1. 560.798 (2) (a) of the statutes, as created by 2001 Wisconsin Act 16,
2is renumbered 560.798 (2) (a) (intro.) and amended to read:
AB539,2,83 560.798 (2) (a) (intro.) The department may, with the approval of the joint
4committee on finance,
designate one area in the state as an agricultural development
5zone. The area must be located in a rural municipality. An agricultural business that
6is located in an agricultural development zone and that is certified by the department
7under sub. (3)
is eligible for tax benefits as provided in sub. (3). if all of the following
8apply:
AB539, s. 2 9Section 2. 560.798 (2) (a) 1. of the statutes is created to read:
AB539,2,1110 560.798 (2) (a) 1. The agricultural development zone is approved by the joint
11committee on finance.
AB539, s. 3 12Section 3. 560.798 (2) (a) 2. of the statutes is created to read:
AB539,2,1313 560.798 (2) (a) 2. The business is certified by the department under sub. (3).
AB539, s. 4 14Section 4. 560.96 (2) (a) of the statutes, as created by 2001 Wisconsin Act 16,
15is renumbered 560.96 (2) (a) (intro.) and amended to read:
AB539,2,2016 560.96 (2) (a) (intro.) The department may, with the approval of the joint
17committee on finance,
designate up to 8 areas in the state as technology zones. A
18business that is located in a technology zone and that is certified by the department
19under sub. (3)
is eligible for a tax credit as provided in sub. (3). if all of the following
20apply:
AB539, s. 5 21Section 5. 560.96 (2) (a) 1. of the statutes is created to read:
AB539,2,2322 560.96 (2) (a) 1. The technology zone is approved by the joint committee on
23finance.
AB539, s. 6 24Section 6. 560.96 (2) (a) 2. of the statutes is created to read:
AB539,2,2525 560.96 (2) (a) 2. The business is certified by the department under sub. (3).
AB539, s. 7
1Section 7. Initial applicability.
AB539,3,32 (1) This act first applies to businesses that are certified on the effective date
3of this subsection and to taxable years beginning on January 1, 2002.
AB539,3,44 (End)
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