16,3705
Section 3705. 560.795 (3) (c) of the statutes is amended to read:
560.795 (3) (c) The department shall notify the department of revenue of all corporations or persons entitled to claim tax benefits under this section
subsection.
16,3706
Section 3706. 560.795 (3) (d) of the statutes is amended to read:
560.795 (3) (d) The department annually shall verify information submitted to the department under s. 71.07 (2di), (2dm), or (2dx), 71.28 (1di), (1dm), or (1dx), or 71.47 (1di), (1dm), or (1dx).
16,3707
Section 3707. 560.795 (4) (a) (intro.) of the statutes is amended to read:
560.795 (4) (a) (intro.) The department shall revoke the entitlement of a corporation or person to claim tax benefits under this section sub. (3) if the corporation or person does any of the following:
16,3708
Section 3708. 560.795 (5) of the statutes is created to read:
560.795 (5) Certification based on the activity of another. (a) The department may certify for tax benefits a person that is conducting economic activity in the development opportunity zone under sub. (1) (e) or (f) and that is not otherwise entitled to claim tax benefits if all of the following apply:
1. The person's economic activity is instrumental in enabling another person to conduct economic activity in the development opportunity zone under sub. (1) (e) or (f).
2. The department determines that the economic activity of the other person under subd. 1. would not have occurred but for the involvement of the person to be certified for tax benefits under this subsection.
3. The person to be certified for tax benefits under this subsection will pass the benefits through to the other person conducting the economic activity under subd. 1., as determined by the department.
4. The other person conducting the economic activity under subd. 1. does not claim tax benefits under sub. (3).
(b) A person intending to claim tax benefits under this subsection shall submit to the department an application, in the form required by the department, containing information required by the department and by the department of revenue.
(c) The department shall notify the department of revenue of all persons certified to claim tax benefits under this subsection.
(d) The department annually shall verify information submitted to the department under s. 71.07 (2dm) or (2dx), 71.28 (1dm) or (1dx), or 71.47 (1dm) or (1dx).
(e) The department shall revoke the entitlement of a person to claim tax benefits under this subsection if the person does any of the following:
1. Supplies false or misleading information to obtain the tax benefits.
2. Ceases operations in the development opportunity zone under sub. (1) (e) or (f).
3. Does not pass the benefits through to the other person conducting the economic activity under par. (a) 1., as determined by the department.
(f) The department shall notify the department of revenue within 30 days after revoking an entitlement under par. (e).
16,3708m
Section 3708m. 560.798 of the statutes is created to read:
560.798 Agricultural development zone.
(1) In this section, "rural municipality" means any of the following:
(a) A city, town, or village that is located in a county with a population density of less than 150 persons per square mile.
(b) A city, town, or village with a population of 6,000 or less.
(2) (a) The department may
, with the approval of the joint committee on finance, designate one area in the state as an agricultural development zone. The area must be located in a rural municipality. An agricultural business that is located in an agricultural development zone and that is certified by the department under sub. (3) is eligible for tax benefits as provided in sub. (3).
(b) The designation of an area as an agricultural development zone shall be in effect for 10 years from the time that the department first designates the area. However, not more than $5,000,000 in tax benefits may be claimed in an agricultural development zone. The department may change the boundaries of an agricultural development zone during the time that its designation is in effect. A change in the boundaries of an agricultural development zone does not affect the duration of the designation of the area or the maximum tax benefit amount that may be claimed in the agricultural development zone.
(3) (a) The department may certify for tax benefits in an agricultural development zone a new or expanding agricultural business that is located in the agricultural development zone. In determining whether to certify a business under this subsection, the department shall consider, among other things, the number of jobs that will be created or retained by the business.
(b) When the department certifies an agricultural business under this subsection, the department shall establish a limit on the amount of tax benefits that the business may claim. The department shall enter into an agreement with the business that specifies the limit on the amount of tax benefits that the business may claim and reporting requirements with which the business must comply.
(4) (a) The department of commerce shall notify the department of revenue of all the following:
1. An agricultural development zone's designation.
2. A business' certification and the limit on the amount of tax benefits that the business may claim.
3. The revocation of a business' certification.
(b) The department shall annually verify information submitted to the department under s. 71.07 (2dm) or (2dx), 71.28 (1dm) or (1dx), or 71.47 (1dm) or (1dx).
(5) The department shall promulgate rules for the operation of this section, including rules related to all the following:
(a) Criteria for designating an area as an agricultural development zone.
(b) Criteria for certifying a business for tax benefits.
(c) Standards for establishing the limit on the amount of tax benefits that a business may claim.
(d) Reporting requirements for certified businesses.
(e) The exchange of information between the department of commerce and the department of revenue.
(f) Reasons for revoking a business' certification.
(g) Standards for changing the boundaries of an agricultural development zone.
16,3709
Section 3709. 560.80 (4) (a) and (b) of the statutes are consolidated, renumbered 560.80 (4) and amended to read:
560.80 (4) "Eligible development project costs" means costs that, in accordance with sound business and financial practices, are appropriately incurred in connection with a development project or a recycling development project. (b) "Eligible development project costs", but does not include entertainment expenses or expenses incurred more than 6 months before the board approves a grant or loan under s. 560.83 or 560.835.
16,3710
Section 3710. 560.80 (5) of the statutes is amended to read:
560.80 (5) "Eligible recipient" means a person who is eligible to receive a grant under s. 560.82 (5) (a) or 560.837 or a grant or loan under s. 560.83 (5) (a) or (b) or 560.835.
16,3710j
Section 3710j. 560.80 (8) of the statutes is amended to read:
560.80 (8) "Minority business" means a minority business, as defined in s. 560.036 (1) (e), business certified by the department under s. 560.036 (2) that has its principal place of business in this state.
16,3711
Section 3711. 560.82 (5) of the statutes is renumbered 560.82 (5) (a).
16,3712
Section 3712. 560.82 (5) (b) of the statutes is created to read:
560.82 (5) (b) If the department awards a grant under sub. (1), the department may contract directly with and pay grant proceeds directly to any person providing technical or management assistance to the grant recipient.
16,3713
Section 3713. 560.96 of the statutes is created to read:
560.96 Technology zones. (1) In this section, "tax credit" means a credit under s. 71.07 (2di), (2dm), (2dx), or (3g), 71.28 (1di), (1dm), (1dx), or (3g), or 71.47 (1di), (1dm), (1dx), or (3g).
(2) (a) The department may
, with the approval of the joint committee on finance, designate up to 8 areas in the state as technology zones. A business that is located in a technology zone and that is certified by the department under sub. (3) is eligible for a tax credit as provided in sub. (3).
(b) The designation of an area as a technology zone shall be in effect for 10 years from the time that the department first designates the area. However, not more than $5,000,000 in tax credits may be claimed in a technology zone. The department may change the boundaries of a technology zone during the time that its designation is in effect. A change in the boundaries of a technology zone does not affect the duration of the designation of the area or the maximum tax credit amount that may be claimed in the technology zone.
(3) (a) The department may certify for tax credits in a technology zone a business that satisfies all of the following requirements:
1. The business is located in the technology zone.
2. The business is a new or expanding business.
3. The business is a high-technology business.
(b) In determining whether to certify a business under this subsection, the department shall consider all of the following:
1. How many new jobs the business is likely to create.
2. The extent and nature of the high technology used by the business.
3. The likelihood that the business will attract related enterprises.
4. The amount of capital investment that the business is likely to make in the state.
5. The economic viability of the business.
(c) When the department certifies a business under this subsection, the department shall establish a limit on the amount of tax credits that the business may claim. Unless its certification is revoked, and subject to the limit on the tax credit amount established by the department under this paragraph, a business that is certified may claim a tax credit for 3 years, except that a business that experiences growth, as determined for that business by the department under par. (d) and sub. (5) (e), may claim a tax credit for up to 5 years.
(d) The department shall enter into an agreement with a business that is certified under this subsection. The agreement shall specify the limit on the amount of tax credits that the business may claim, the extent and type of growth, which shall be specific to the business, that the business must experience to extend its eligibility for a tax credit, the business' baseline against which that growth will be measured, any other conditions that the business must satisfy to extend its eligibility for a tax credit, and reporting requirements with which the business must comply.
(4) (a) The department of commerce shall notify the department of revenue of all the following:
1. A technology zone's designation.
2. A business' certification and the limit on the amount of tax credits that the business may claim.
3. The extension or revocation of a business' certification.
(b) The department shall annually verify information submitted to the department under ss. 71.07 (2di), (2dm), (2dx), and (3g), 71.28 (1di), (1dm), (1dx), and (3g), and 71.47 (1di), (1dm), (1dx), and (3g).
(5) The department shall promulgate rules for the operation of this section, including rules related to all the following:
(a) Criteria for designating an area as a technology zone.
(b) A business' eligibility for certification, including definitions for all of the following:
1. New or expanding business.
2. High-technology business.
(c) Certifying a business, including use of the factors under sub. (3) (b).
(d) Standards for establishing the limit on the amount of tax credits that a business may claim.
(e) Standards for extending a business' certification, including what measures, in addition to job creation, the department will use to determine the growth of a specific business and how the department will establish baselines against which to measure growth.
(f) Reporting requirements for certified businesses.
(g) The exchange of information between the department of commerce and the department of revenue.
(h) Reasons for revoking a business' certification.
(i) Standards for changing the boundaries of a technology zone.
16,3713c
Section 3713c. 562.057 (4m) (a) 1. of the statutes is renumbered 562.057 (4m) (a) and amended to read:
562.057 (4m) (a) For a racetrack at which $25,000,000 or more was wagered during During the calendar year immediately preceding the year in which the applicant proposes to conduct wagering on simulcast races, at least 250 275 race performances were conducted at the racetrack during that period.
16,3713d
Section 3713d. 562.057 (4m) (a) 2. of the statutes is repealed.
16,3713e
Section 3713e. 562.057 (4m) (b) of the statutes is repealed.
16,3713jm
Section 3713jm. 562.065 (4) of the statutes is amended to read:
562.065 (4) Unclaimed prizes. Any A licensee under s. 562.05 (1) (b) shall pay to the department 50% of any winnings on a race which that are not claimed within 90 days after the end of the period authorized for racing in that year under s. 562.05 (9) shall be paid to the department. The department shall credit moneys received under this subsection to the appropriation accounts under ss. 20.455 (2) (g) and 20.505 (8) (g). The licensee may retain the remaining 50% of the winnings.