SB394: Bill Text

SB394,28,13 (3) Certification. The department shall certify as eligible for the tax credit under s. 71.07 (5r), 71.28 (5r) or 71.47 (5r) any business that meets the eligibility requirements under sub. (4).

SB394,28,15 (4) Eligibility. A business is eligible to have its productivity enhancement training expenses certified if all of the following apply:

SB394,28,17 (a) The business submits to the department a productivity enhancement training plan that the department finds does all of the following:

SB394,28,20 1. Provides for training of the business's employes that will increase the employes' productivity to achieve specific goals established as a result of the assessment and consultation under par. (b).

SB394,28,24 2. Provides for training of the business's employes that will result in the employes holding jobs within the business that require higher degrees of skill and that pay higher wages than their current jobs, as determined by the assessment and consultation under par. (b).

SB394,29,4 (b) Prior to providing any productivity enhancement training, the business receives needs assessment and consultation from an entity that is experienced in providing productivity assessment or business planning and that is approved by the department.

SB394,29,7 (c) Through the needs assessment and consultation under par. (b), the business and the entity agree on a training plan that is appropriate for the purposes specified under par. (a).

SB394,29,10 (d) The business submits to the department an accounting of the productivity enhancement training expenses incurred by the business under the plan under par. (a) and the department determines that the expenses were incurred under the plan.

SB394,29,16 (5) Reporting. (a) Each business certified under this section that claims the tax credit under s. 71.07 (5r), 71.28 (5r) or 71.47 (5r) shall report to the department, no later March 1 of the year after it received the certification, on the results of its productivity enhancement training and on its success in meeting the goals established in its productivity enhancement training plan. The report shall be on a form prescribed by the department.

SB394,29,18 (b) Annually, the department shall estimate the amount of foregone state revenue because of the tax credits claimed by persons certified under this section.

SB394,29,22 (c) Annually, by December 1, the department shall report to the legislature under s. 13.172 (2) on the effectiveness of the productivity enhancement training certification program and the tax credits under ss. 71.07 (5r), 71.28 (5r) and 71.47 (5r) in meeting the purposes of the program as specified in sub. (2).

SB394,30,2 (6) Application. The department shall, by rule, develop application procedures for productivity enhancement training certification. The application for certification shall show that the applicant satisfies the requirements under sub. (4) and commits to reporting under sub. (5) (a).

SB394,30,4 (7) Notification. The department shall notify the department of revenue of all persons entitled to claim tax credits under ss. 71.07 (5r), 71.28 (5r) and 71.47 (5r).

SB394,30,6 (8) Transferability. The tax credits for which a person is certified as eligible under this section are not transferable to another person or business.

SB394,30,8 (9) Sunset. No business may be certified under this section after December 31, 2008, or for tax credits for any tax year beginning after December 31, 2008.

SB394, s. 45 Section 45 . 560.31 (2) (g) of the statutes is created to read:

SB394,30,12 560.31 (2) (g) The person has an office in this state with at least one full-time professional employe actively engaged in the investment of cash in qualified businesses in Wisconsin.

SB394, s. 46 Section 46. 560.33 (1) (c) of the statutes is amended to read:

SB394,30,18 560.33 (1) (c) During its 2 most recent fiscal years, the business had, together with all of its consolidated affiliates, an average annual net income, after federal income taxes and excluding any carry-over losses, of not more than $2,000,000 $1,000,000, as determined in accordance with generally accepted accounting principles.

SB394, s. 47 Section 47 . 560.34 (1c) of the statutes is created to read:

SB394,30,22 560.34 (1c) Investments that are not qualified. Notwithstanding sub. (1), an investment is not a qualified investment if the investment is used in whole or in part by the qualified business to do any of the following:

SB394,30,24 (a) Retire outstanding long-term debt or obligations to the affiliates of the qualified business.

SB394,30,25 (b) Purchase outstanding equity of the qualified business.

SB394,31,2 (c) Purchase stock or other interests in a person other than the qualified business.

SB394,31,5 (d) Purchase, lease or license substantially all of the assets that are currently used by an existing business to produce net income after taxes to the holders of the assets.

SB394, s. 48 Section 48. 560.34 (2) (title) of the statutes is amended to read:

SB394,31,7 560.34 (2) (title) Nonqualified Other certified capital company investments.

SB394, s. 49 Section 49 . Appropriation changes.

SB394,31,17 (1) Advanced journeyworker credential pilot program. In the schedule under section 20.005 (3) of the statutes for the appropriation to the department of workforce development under section 20.445 (1) (a) of the statutes, as affected by the acts of 1999, the dollar amount is increased by $160,000 for fiscal year 1999-00 and the dollar amount is increased by $120,000 for fiscal year 2000-01 to increase the authorized FTE positions for the department by 1.0 GPR position for the implementation and program development of the advanced journey worker credential pilot program under section 106.01 (11) of the statutes, as created by this act.

SB394,31,18 (2) Job retention skills development programs.

SB394,31,23 (a) There is transferred from the appropriation to the department of workforce development under section 20.445 (3) (md) of the statutes, as affected by 1999 Wisconsin Acts 9 and this act, to the appropriation to the technical system college board under section 20.292 (1) (kd) of the statutes, as created by this act, $200,000 in fiscal year 1999-00.

SB394,32,3 (b) In the schedule under section 20.005 (3) of the statutes for the appropriation to the department of workforce development under section 20.445 (3) (md) of the statutes, as affected by 1999 Wisconsin Act 9 and this act, the dollar amount for fiscal year 1999-00 is decreased by $200,000 to reflect the transfer of moneys under paragraph (a).

SB394, s. 50 Section 50 . Initial applicability.

SB394,32,9 (1) Environmental remediation tax incremental financing. The treatment of section 66.462 (1) (c) and (2) of the statutes first applies to an environmental remediation tax incremental financing district, the written remediation proposal for which is approved by the political subdivision's governing body on the effective date of this subsection.

SB394,32,12 (2) Productivity enhancement training tax credit. The treatment of sections 71.07 (5r), 71.28 (5r), 71.47 (5r) and 560.27 of the statutes first applies to taxable years beginning on January 1, 2000.

SB394,32,15 (3) Transfer of environmental remediation tax credits. The treatment of section 71.28 (1dx) (b) 1. and 1m. and (f) of the statutes first applies to taxable years beginning on January 1, 2000.

SB394, s. 51 Section 51 . Effective dates. This act takes effect on the day after publication, except as follows:

SB394,32,20 (1) Certified capital companies and venture capital development conferences. The treatment of sections 560.14 (4m) (a) (intro.) and (c), 560.31 (2) (g), 560.33 (1) (c) and 560.34 (1c) of the statutes takes effect on July 1, 2000.

SB394,32,21 (End)