SB21,1455,2320 235.932 (2) Establishment of fund. (intro.) There is established under the
21jurisdiction and control of the authority, for the purpose of providing funds for
22guaranteeing loans under s. 234.84 235.84, a Wisconsin job training reserve fund,
23consisting of all of the following:
SB21,1455,2524 (b) Any income from investment of money in the Wisconsin job training reserve
25fund by the authority under s. 234.03 (18).
SB21,3927
1Section 3927. 234.933 of the statutes is renumbered 235.933, and 235.933 (1),
2(2) (intro.) and (b), as renumbered, are amended to read:
SB21,1456,43 235.933 (1) Definition. In this section, "drinking water loan guarantee
4program" means the program under s. 234.86 235.86.
SB21,1456,8 5(2) Establishment of fund. (intro.) There is established under the jurisdiction
6and control of the authority, for the purpose of providing funds for guaranteeing loans
7under s. 234.86 235.86, a Wisconsin drinking water reserve fund, consisting of all of
8the following:
SB21,1456,109 (b) Any income from investment of money in the Wisconsin drinking water
10reserve fund by the authority under s. 234.03 (18).
SB21,3928 11Section 3928. Subchapter III (title) of chapter 234 [precedes 234.94] of the
12statutes is renumbered subchapter VI (title) of chapter 235 [precedes 235.94].
SB21,3929 13Section 3929. 234.94 of the statutes is renumbered 235.94, and 235.94 (2) (b)
145. and (3), as renumbered, are amended to read:
SB21,1456,1715 235.94 (2) (b) 5. The corporation's purpose is to promote the employment of
16members of a target group through projects that meet the conditions specified in s.
17234.96 235.96 (1) (a) to (d).
SB21,1456,19 18(3) "Community development finance company" means a corporation or a
19limited partnership organized for profit under s. 234.95 235.95.
SB21,3930 20Section 3930. 234.95 of the statutes is renumbered 235.95, and 235.95 (2), as
21renumbered, is amended to read:
SB21,1456,2522 235.95 (2) The community development finance company shall issue stock or
23partnership interests. The community development finance company shall invest
24funds it receives from the sale of stock or partnership interests by purchasing capital
25participation instruments under s. 234.96 235.96.
SB21,3931
1Section 3931. 234.96 of the statutes is renumbered 235.96.
SB21,3932 2Section 3932. 234.97 of the statutes is renumbered 235.97, and 235.97 (intro.)
3and (2), as renumbered, are amended to read:
SB21,1457,5 4235.97 Sale or purchase of stock or interest. (intro.) Subject to s. 234.96
5235.96 (1) (h), the authority shall do all of the following:
SB21,1457,8 6(2) Use funds received from contributions, gifts, or grants under s. 234.03 (32)
7to purchase community development finance company stock or partnership interests
8or make grants or loans to community development corporations.
SB21,3933 9Section 3933. 234.98 of the statutes is renumbered 235.98.
SB21,3934 10Section 3934. Chapter 235 of the statutes is created to read:
SB21,1457,1111 chapter 235
SB21,1457,1312 Forward Wisconsin
13 Development Authority
SB21,1457,1414 Subchapter i
SB21,1457,1515 general provisions
SB21,1457,16 16235.01 Definitions. In this chapter:
SB21,1457,17 17(1) "Authority" means the Forward Wisconsin Development Authority.
SB21,1457,18 18(2) "Board" means the board of directors of the authority.
SB21,1457,23 19235.011 Creation and organization. (1) There is created a public body
20corporate and politic, to be known as the "Forward Wisconsin Development
21Authority." The members of the board shall consist of 12 public members nominated
22by the governor, and with the advice and consent of the senate appointed, to serve
234-year terms. All members shall be employed in the private sector.
SB21,1458,2 24(2) Seven members of the board constitutes a quorum for the purpose of
25conducting its business and exercising its powers and for all other purposes. Action

1may be taken by the board upon a vote of a majority of a quorum. The board shall
2elect a chairperson.
SB21,1458,4 3(3) A vacancy on the board shall be filled in the same manner as the original
4appointment to the board for the remainder of the unexpired term.
SB21,1458,7 5(4) (a) A chief executive officer shall be nominated by the governor, approved
6by the board, and with the advice and consent of the senate appointed, to serve at the
7pleasure of the governor.
SB21,1458,98 (b) A chief operating officer shall be nominated by the governor, and with the
9approval of the board appointed, to serve at the pleasure of the governor.
SB21,1458,1310 (c) The board may delegate to the chief executive officer and chief operating
11officer any powers and duties the board considers proper. The chief executive officer
12and chief operating officer shall receive such compensation as may be determined by
13the board.
SB21,1458,1614 (d) The governor shall coordinate with the chief executive officer as if the chief
15executive officer were the secretary of a department in the executive branch of state
16government who is appointed by the governor.
SB21,1458,19 17(5) All powers and duties assigned to the authority under this chapter shall be
18exercised or carried out by the board, unless the board delegates the power or duty
19to an employee of the authority or a committee established by the board.
SB21,1458,22 20235.012 Powers of the board. The board shall have all the powers necessary
21or convenient to carry out the purposes and provisions of this chapter. In addition
22to all other powers granted the board by law, the board may:
SB21,1458,24 23(1) Adopt, amend, and repeal any bylaws, policies, and procedures for the
24regulation of its affairs and the conduct of its business.
SB21,1458,25 25(2) Have a seal and alter the seal at pleasure.
SB21,1459,1
1(3) Maintain offices.
SB21,1459,2 2(4) Sue and be sued.
SB21,1459,4 3(5) Accept gifts, grants, loans, or other contributions from private or public
4sources.
SB21,1459,6 5(6) Establish the authority's annual budget and monitor the fiscal
6management of the authority.
SB21,1459,8 7(7) Make equity investments and execute contracts, securities, mortgages, and
8other instruments required for the operation of the authority.
SB21,1459,10 9(8) Employ any officers, agents, and employees that it may require and
10determine their qualifications, duties, and compensation.
SB21,1459,11 11(9) Issue notes, bonds, and any other obligations.
SB21,1459,12 12(10) Make loans and provide grants.
SB21,1459,13 13(11) Incur debt.
SB21,1459,14 14(12) Procure liability insurance.
SB21,1459,18 15(13) Enter into agreements regarding compensation, space, and other
16administrative matters as are necessary to operate offices in other states and foreign
17countries. Such agreements shall be subject to the approval of the secretary of
18administration.
SB21,1459,20 19(14) Agree and comply with any conditions attached to federal financial
20assistance.
SB21,1460,2 21(15) Lease real or personal property and to accept federal funds for and
22participate in such federal housing programs as are enacted on May 4, 1976, or at
23any future time, except that the authority may not accept without the consent of the
24governor federal funds under federal housing programs enacted after May 8, 1982,

1if issuance of the authority's bonds or notes is not required to participate in the
2programs.
SB21,1460,3 3(16) Establish and maintain a corporation organized under ch. 180 or 181.
SB21,1460,11 4235.013 Duties of the board; mission. The board shall develop and
5implement economic development programs, and housing programs and projects, to
6provide business, housing, and other support and expertise and assistance to persons
7that are investing or creating jobs in Wisconsin, to support new business start-ups,
8business expansion and growth, and home ownership in Wisconsin, and to provide
9single and multifamily housing to persons and families of low and moderate income
10in Wisconsin. The board may also develop and implement any other programs and
11projects related to economic development or housing in Wisconsin.
SB21,3935 12Section 3935. 235.0279 (3) of the statutes is created to read:
SB21,1460,1613 235.0279 (3) Records consisting of information on the In Force Network or
14other similar customer relationship management system maintained by the
15authority, unless the information was published to the In Force Network or other
16system by the authority or another economic development organization.
SB21,3936 17Section 3936. Subchapter II (title) of chapter 235 [precedes 235.03] of the
18statutes is created to read:
SB21,1460,1919 chapter 235
SB21,1460,2020 Subchapter iI
SB21,1460,2121 Economic Development
SB21,3937 22Section 3937. 235.03 (3) (ad), (ah), (ap) and (at) of the statutes are created to
23read:
SB21,1461,424 235.03 (3) (ad) That each recipient of a grant or loan under the program of at
25least $500,000 shall engage an independent certified public accountant to perform

1procedures, approved by the authority and consistent with applicable professional
2standards of the American Institute of Certified Public Accountants, to determine
3whether the grant or loan funds and any matching cash or in-kind match were
4expended in accordance with the grant or loan contract.
SB21,1461,65 (ah) That each recipient make available for inspection the documents
6supporting the attestation submitted under par. (a).
SB21,1461,87 (ap) That the contract with each grant or loan recipient shall include the
8requirements under pars. (a) to (ah).
SB21,1461,129 (at) The requirements of pars. (a) to (ap) do not apply to a department, as
10defined in s. 15.01 (5), an independent agency, as defined in s. 15.01 (9), an authority
11created under subch. II of ch. 114 or under ch. 231, 233, 235, 237, or 279, or the
12University of Wisconsin System.
SB21,3938 13Section 3938. 235.137 of the statutes is created to read:
SB21,1461,18 14235.137 Regional revolving loan fund grant program. From the
15appropriation under s. 20.885 (3) (am), and from moneys transferred by the authority
16from existing programs, the authority shall establish a regional revolving loan fund
17grant program. The authority shall establish policies and procedures relating to the
18program, including all of the following:
SB21,1461,20 19(1) Grants shall be awarded to multicounty regions in proportionate amounts
20based upon the percentage of the state population residing within each region.
SB21,1461,22 21(2) Grants shall be awarded only to regional organizations having sufficient
22private sector involvement, as determined by the authority.
SB21,1461,24 23(3) The authority shall approve the structure, regional investment strategy,
24and administrative guidelines of regional loan funds.
SB21,1462,3
1(4) Each regional organization awarded a grant shall, at a time determined by
2the authority, make a report to the authority containing information required by the
3authority.
SB21,1462,6 4(5) For each regional organization awarded a grant, the authority may
5annually assess a fee as a percentage of the moneys managed to the extent necessary
6to reimburse the authority for costs incurred for oversight and management.
SB21,3939 7Section 3939. 235.16 (6) of the statutes is created to read:
SB21,1462,98 235.16 (6) Sunset. The authority may not award any tax benefits under this
9section after June 30, 2015.
SB21,3940 10Section 3940. 235.17 (1) (b) of the statutes is created to read:
SB21,1462,1611 235.17 (1) (b) The authority may not certify a person for a tax credit under this
12subsection if the person is not subject to the taxes imposed under s. 71.02, 71.08,
1371.23, or 71.43, except that the authority may certify a nonprofit entity described
14under section 501 (c) (3) of the Internal Revenue Code for a tax credit under this
15subsection if the entity intends to sell or otherwise transfer the credit, as provided
16under s. 71.07 (9m) (h), 71.28 (6) (h), or 71.47 (6) (h).
SB21,3941 17Section 3941. 235.17 (2) of the statutes is created to read:
SB21,1462,1918 235.17 (2) The authority may certify up to $10,000,000 in tax credits under sub.
19(1) in any calendar year.
SB21,3942 20Section 3942. 235.17 (3) of the statutes is created to read:
SB21,1462,2321 235.17 (3) In determining whether to certify a person for a tax credit under sub.
22(1), the authority shall consider all of the following with respect to the activity for
23which the tax credit is claimed:
SB21,1462,2424 (a) The number of full-time jobs that may be created.
SB21,1463,2
1(b) The anticipated benefit to the state of the activity relative to the cost to the
2state of the tax credit.
SB21,1463,33 (c) The projected impact of the activity on the local economy.
SB21,1463,54 (d) Whether the activity or investments associated with the activity would
5occur without the tax credit.
SB21,1463,76 (e) The number of tax credits that have been certified under sub. (1) in the same
7county or municipality in prior years.
SB21,3942d 8Section 3942d. 235.17 (4) of the statutes is created to read:
SB21,1463,169 235.17 (4) For 4 years following receipt of a tax credit under sub. (1), the
10original claimant shall report to the authority the total number of full-time jobs
11created by the activity for which the credit was claimed. The authority shall report
12to the department of revenue, at least once each calendar quarter, any claimant
13whose activity created fewer full-time jobs than projected under sub. (3) (a). The
14authority shall report to the department of revenue the name, address, and tax
15identification number of the claimant, and the number of full-time jobs projected
16and created.
SB21,3943 17Section 3943. 235.17 (5) of the statutes is created to read:
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