LRB-4038/3
PJK:hmh&jld:jf
2001 - 2002 LEGISLATURE
November 27, 2001 - Introduced by Representatives Lassa and Schneider,
cosponsored by Senator Shibilski. Referred to Committee on Economic
Development.
AB652,1,2
1An Act to amend 560.96 (2) (a) of the statutes;
relating to: designation of the
2counties of Adams, Portage, and Wood as a technology zone.
Analysis by the Legislative Reference Bureau
Under current law, the department of commerce (department) may designate
up to eight areas in the state as technology zones. An area's designation as a
technology zone is in effect for ten years. A new or expanding high-technology
business that is located in a technology zone and that is certified by the department
is eligible for certain tax credits. Certification is based on such criteria as the number
of new jobs the business is likely to create, the amount of capital investment that the
business is likely to make in the state, and the likelihood that the business will
attract related enterprises.
This bill requires the department to designate the counties of Adams, Portage,
and Wood as one technology zone and authorizes the department to designate seven
other areas in the state as technology zones.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB652,2,5
1560.96
(2) (a) The department
shall designate the counties of Adams, Portage,
2and Wood as a technology zone and may designate up to
8 7 more areas in the state
3as technology zones. A business that is located in a technology zone and that is
4certified by the department under sub. (3) is eligible for a tax credit as provided in
5sub. (3).
AB652,2,77
(1) This act first applies to taxable years beginning on January 1, 2002.
