The bill allows a person that intends to operate a place of business in an airport
development zone to apply to the department for tax credits. The application must
specify all of the following:
1. The name and address of the person's business for which tax credits will be
claimed.
2. The appropriate Wisconsin tax identification number of the person.
3. The names and addresses of other locations outside of the airport
development zone where the person conducts business and a description of the
business activities conducted at those locations.
4. The amount that the person proposes to invest in the place of business or to
spend on the construction, rehabilitation, repair, or remodeling of a building in the
airport development zone.
5. The estimated total investment of the person in the airport development
zone.
6. The estimated number of full-time jobs that will be created, retained, or
substantially upgraded as a result of the person's place of business in the airport
development zone in relation to the amount of tax credits estimated for the person.
7. The person's plans to make reasonable attempts to hire employees from a
specified target population.
8. The estimated number of full-time jobs that will be filled by members of the
target population.
9. Any other information required by the department or the Department of
Revenue.
The bill requires the department to revoke a person's certification if the
designation of the applicable airport development zone expires. In addition, a
person's certification must be revoked if the person supplied false or misleading
information to obtain the tax credits; leaves the airport development zone to conduct
substantially the same business outside of the airport development zone; or ceases
operations in the airport development zone and does not renew operation of the
business or a similar business in the airport development zone within 12 months.
Tax credits
A person who is certified to claim tax credits based on the person's business
activities in an airport development zone may claim the development zone's capital
investment credit under current law. The amount of that credit is equal to 3 percent
of the purchase price of depreciable, tangible personal property or 3 percent of the
amount expended to acquire, construct, rehabilitate, remodel, or repair real property
that is located in the development zone. In addition, the person may claim a
development zone's credit under current law based on the number of full-time jobs
created in the airport development zone.
Airport development zone loan program
The bill establishes a loan program to be known as the "Airport Development
Zone Loan Program." Under the program, the Wisconsin Housing and Economic
Development Authority (WHEDA) is authorized to award loans to a business for the
purpose of financing the construction or expansion of an airport in an airport

development zone, including financing activities to encourage airlines to serve the
airport or to increase the number of flights to and from the airport. Under the bill,
a loan's interest rate must be determined with reference to the amount required to
repay the principal and interest of the bonds described below, plus the cost of issuing
the bonds.
The bill provides that the program is to be funded from the proceeds of bonds
issued by WHEDA in an aggregate principal amount of up to $200,000,000. The debt
service on the bonds, as well as all costs associated with the issuance of the bonds,
is to be paid by the businesses granted the loans under the program.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB136, s. 1 1Section 1. 71.07 (2dm) (a) 1. of the statutes is amended to read:
SB136,4,32 71.07 (2dm) (a) 1. "Certified" means entitled under s. 560.795 (3) (a) 4. to claim
3tax benefits or certified under s. 560.795 (5) or, 560.798 (3), or 560.799 (4).
SB136, s. 2 4Section 2. 71.07 (2dm) (a) 3. of the statutes is amended to read:
SB136,4,75 71.07 (2dm) (a) 3. "Development zone" means a development opportunity zone
6under s. 560.795 (1) (e) and (f) or 560.798, or an airport development zone under s.
7560.799
.
SB136, s. 3 8Section 3. 71.07 (2dm) (f) 1. of the statutes is amended to read:
SB136,4,119 71.07 (2dm) (f) 1. A copy of a verification from the department of commerce that
10the claimant may claim tax benefits under s. 560.795 (3) (a) 4. or is certified under
11s. 560.795 (5) or, 560.798 (3), or 560.799 (4).
SB136, s. 4 12Section 4. 71.07 (2dm) (j) of the statutes is amended to read:
SB136,5,713 71.07 (2dm) (j) If a person who is entitled under s. 560.795 (3) (a) 4. to claim
14tax benefits becomes ineligible for such tax benefits, or if a person's certification
15under s. 560.795 (5) or, 560.798 (3) , or 560.799 (4) is revoked, that person may claim

1no credits under this subsection for the taxable year that includes the day on which
2the person becomes ineligible for tax benefits, the taxable year that includes the day
3on which the certification is revoked, or succeeding taxable years, and that person
4may carry over no unused credits from previous years to offset tax under this chapter
5for the taxable year that includes the day on which the person becomes ineligible for
6tax benefits, the taxable year that includes the day on which the certification is
7revoked, or succeeding taxable years.
SB136, s. 5 8Section 5. 71.07 (2dm) (k) of the statutes is amended to read:
SB136,5,149 71.07 (2dm) (k) If a person who is entitled under s. 560.795 (3) (a) 4. to claim
10tax benefits or certified under s. 560.795 (5) or, 560.798 (3), or 560.799 (4) ceases
11business operations in the development zone during any of the taxable years that
12that zone exists, that person may not carry over to any taxable year following the
13year during which operations cease any unused credits from the taxable year during
14which operations cease or from previous taxable years.
SB136, s. 6 15Section 6. 71.07 (2dx) (a) 2. of the statutes is amended to read:
SB136,5,1916 71.07 (2dx) (a) 2. "Development zone" means a development zone under s.
17560.70, a development opportunity zone under s. 560.795, an enterprise
18development zone under s. 560.797, or an agricultural development zone under s.
19560.798, or an airport development zone under s. 560.799.
SB136, s. 7 20Section 7. 71.07 (2dx) (b) (intro.) of the statutes is amended to read:
SB136,6,221 71.07 (2dx) (b) Credit. (intro.) Except as provided in pars. (be) and (bg) and
22in s. 73.03 (35), and subject to s. 560.785, for any taxable year for which the person
23is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3),
24560.797 (4) or, 560.798 (3), or 560.799 (4), any person may claim as a credit against

1taxes imposed on the person's income from the person's business activities in a
2development zone the following amounts:
SB136, s. 8 3Section 8. 71.07 (2dx) (c) of the statutes is amended to read:
SB136,6,134 71.07 (2dx) (c) Credit precluded. If the certification of a person for tax benefits
5under s. 560.765 (3), 560.797 (4) or, 560.798 (3), or 560.799 (4) is revoked, or if the
6person becomes ineligible for tax benefits under s. 560.795 (3), that person may not
7claim credits under this subsection for the taxable year that includes the day on
8which the certification is revoked; the taxable year that includes the day on which
9the person becomes ineligible for tax benefits; or succeeding taxable years and that
10person may not carry over unused credits from previous years to offset tax under this
11chapter for the taxable year that includes the day on which certification is revoked;
12the taxable year that includes the day on which the person becomes ineligible for tax
13benefits; or succeeding taxable years.
SB136, s. 9 14Section 9. 71.07 (2dx) (d) of the statutes is amended to read:
SB136,6,2115 71.07 (2dx) (d) Carry-over precluded. If a person who is entitled under s.
16560.795 (3) to claim tax benefits or certified under s. 560.765 (3), 560.797 (4) or,
17560.798 (3), or 560.799 (4) for tax benefits ceases business operations in the
18development zone during any of the taxable years that that zone exists, that person
19may not carry over to any taxable year following the year during which operations
20cease any unused credits from the taxable year during which operations cease or
21from previous taxable years.
SB136, s. 10 22Section 10. 71.28 (1dm) (a) 1. of the statutes is amended to read:
SB136,6,2423 71.28 (1dm) (a) 1. "Certified" means entitled under s. 560.795 (3) (a) 4. to claim
24tax benefits or certified under s. 560.795 (5) or, 560.798 (3), or 560.799 (4).
SB136, s. 11 25Section 11. 71.28 (1dm) (a) 3. of the statutes is amended to read:
SB136,7,3
171.28 (1dm) (a) 3. "Development zone" means a development opportunity zone
2under s. 560.795 (1) (e) and (f) or 560.798, or an airport development zone under s.
3560.799
.
SB136, s. 12 4Section 12. 71.28 (1dm) (f) 1. of the statutes is amended to read:
SB136,7,75 71.28 (1dm) (f) 1. A copy of a verification from the department of commerce that
6the claimant may claim tax benefits under s. 560.795 (3) (a) 4. or is certified under
7s. 560.795 (5) or, 560.798 (3), or 560.799 (4).
SB136, s. 13 8Section 13. 71.28 (1dm) (j) of the statutes is amended to read:
SB136,7,189 71.28 (1dm) (j) If a person who is entitled under s. 560.795 (3) (a) 4. to claim
10tax benefits becomes ineligible for such tax benefits, or if a person's certification
11under s. 560.795 (5) or, 560.798 (3) , or 560.799 (4) is revoked, that person may claim
12no credits under this subsection for the taxable year that includes the day on which
13the person becomes ineligible for tax benefits, the taxable year that includes the day
14on which the certification is revoked, or succeeding taxable years, and that person
15may carry over no unused credits from previous years to offset tax under this chapter
16for the taxable year that includes the day on which the person becomes ineligible for
17tax benefits, the taxable year that includes the day on which the certification is
18revoked, or succeeding taxable years.
SB136, s. 14 19Section 14. 71.28 (1dm) (k) of the statutes is amended to read:
SB136,7,2520 71.28 (1dm) (k) If a person who is entitled under s. 560.795 (3) (a) 4. to claim
21tax benefits or certified under s. 560.795 (5) or, 560.798 (3), or 560.799 (4) ceases
22business operations in the development zone during any of the taxable years that
23that zone exists, that person may not carry over to any taxable year following the
24year during which operations cease any unused credits from the taxable year during
25which operations cease or from previous taxable years.
SB136, s. 15
1Section 15. 71.28 (1dx) (a) 2. of the statutes is amended to read:
SB136,8,52 71.28 (1dx) (a) 2. "Development zone" means a development zone under s.
3560.70, a development opportunity zone under s. 560.795, an enterprise
4development zone under s. 560.797, or an agricultural development zone under s.
5560.798, or an airport development zone under s. 560.799.
SB136, s. 16 6Section 16. 71.28 (1dx) (b) (intro.) of the statutes is amended to read:
SB136,8,127 71.28 (1dx) (b) Credit. (intro.) Except as provided in pars. (be) and (bg) and
8in s. 73.03 (35), and subject to s. 560.785, for any taxable year for which the person
9is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3),
10560.797 (4) or, 560.798 (3), or 560.799 (4), any person may claim as a credit against
11taxes imposed on the person's income from the person's business activities in a
12development zone under this subchapter the following amounts:
SB136, s. 17 13Section 17. 71.28 (1dx) (c) of the statutes is amended to read:
SB136,8,2314 71.28 (1dx) (c) Credit precluded. If the certification of a person for tax benefits
15under s. 560.765 (3), 560.797 (4) or, 560.798 (3), or 560.799 (4) is revoked, or if the
16person becomes ineligible for tax benefits under s. 560.795 (3), that person may not
17claim credits under this subsection for the taxable year that includes the day on
18which the certification is revoked; the taxable year that includes the day on which
19the person becomes ineligible for tax benefits; or succeeding taxable years and that
20person may not carry over unused credits from previous years to offset tax under this
21chapter for the taxable year that includes the day on which certification is revoked;
22the taxable year that includes the day on which the person becomes ineligible for tax
23benefits; or succeeding taxable years.
SB136, s. 18 24Section 18. 71.28 (1dx) (d) of the statutes is amended to read:
SB136,9,7
171.28 (1dx) (d) Carry-over precluded. If a person who is entitled under s.
2560.795 (3) to claim tax benefits or certified under s. 560.765 (3), 560.797 (4) or,
3560.798 (3), or 560.799 (4) for tax benefits ceases business operations in the
4development zone during any of the taxable years that that zone exists, that person
5may not carry over to any taxable year following the year during which operations
6cease any unused credits from the taxable year during which operations cease or
7from previous taxable years.
SB136, s. 19 8Section 19. 71.47 (1dm) (a) 1. of the statutes is amended to read:
SB136,9,109 71.47 (1dm) (a) 1. "Certified" means entitled under s. 560.795 (3) (a) 4. to claim
10tax benefits or certified under s. 560.795 (5) or, 560.798 (3), or 560.799 (4).
SB136, s. 20 11Section 20. 71.47 (1dm) (a) 3. of the statutes is amended to read:
SB136,9,1412 71.47 (1dm) (a) 3. "Development zone" means a development opportunity zone
13under s. 560.795 (1) (e) and (f) or 560.798, or an airport development zone under s.
14560.799
.
SB136, s. 21 15Section 21. 71.47 (1dm) (f) 1. of the statutes is amended to read:
SB136,9,1816 71.47 (1dm) (f) 1. A copy of a verification from the department of commerce that
17the claimant may claim tax benefits under s. 560.795 (3) (a) 4. or is certified under
18s. 560.795 (5) or, 560.798 (3), or 560.799 (4).
SB136, s. 22 19Section 22. 71.47 (1dm) (j) of the statutes is amended to read:
SB136,9,2520 71.47 (1dm) (j) If a person who is entitled under s. 560.795 (3) (a) 4. to claim
21tax benefits becomes ineligible for such tax benefits, or if a person's certification
22under s. 560.795 (5) or, 560.798 (3) , or 560.799 (4) is revoked, that person may claim
23no credits under this subsection for the taxable year that includes the day on which
24the person becomes ineligible for tax benefits, the taxable year that includes the day
25on which the certification is revoked, or succeeding taxable years, and that person

1may carry over no unused credits from previous years to offset tax under this chapter
2for the taxable year that includes the day on which the person becomes ineligible for
3tax benefits, the taxable year that includes the day on which the certification is
4revoked, or succeeding taxable years.
SB136, s. 23 5Section 23. 71.47 (1dm) (k) of the statutes is amended to read:
SB136,10,116 71.47 (1dm) (k) If a person who is entitled under s. 560.795 (3) (a) 4. to claim
7tax benefits or certified under s. 560.795 (5) or, 560.798 (3), or 560.799 (4) ceases
8business operations in the development zone during any of the taxable years that
9that zone exists, that person may not carry over to any taxable year following the
10year during which operations cease any unused credits from the taxable year during
11which operations cease or from previous taxable years.
SB136, s. 24 12Section 24. 71.47 (1dx) (a) 2. of the statutes is amended to read:
SB136,10,1613 71.47 (1dx) (a) 2. "Development zone" means a development zone under s.
14560.70, a development opportunity zone under s. 560.795 or an enterprise
15development zone under s. 560.797, or an agricultural development zone under s.
16560.798, or an airport development zone under s. 560.799.
SB136, s. 25 17Section 25. 71.47 (1dx) (b) (intro.) of the statutes is amended to read:
SB136,10,2318 71.47 (1dx) (b) Credit. (intro.) Except or provided in pars. (be) and (bg) and
19in s. 73.03 (35), and subject to s. 560.785, for any taxable year for which the person
20is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3),
21560.797 (4) or, 560.798 (3), or 560.799 (4), any person may claim as a credit against
22taxes imposed on the person's income from the person's business activities in a
23development zone under this subchapter the following amounts:
SB136, s. 26 24Section 26. 71.47 (1dx) (c) of the statutes is amended to read:
SB136,11,10
171.47 (1dx) (c) Credit precluded. If the certification of a person for tax benefits
2under s. 560.765 (3), 560.797 (4) or, 560.798 (3), or 560.799 (4) is revoked, or if the
3person becomes ineligible for tax benefits under s. 560.795 (3), that person may not
4claim credits under this subsection for the taxable year that includes the day on
5which the certification is revoked; the taxable year that includes the day on which
6the person becomes ineligible for tax benefits; or succeeding taxable years and that
7person may not carry over unused credits from previous years to offset tax under this
8chapter for the taxable year that includes the day on which certification is revoked;
9the taxable year that includes the day on which the person becomes ineligible for tax
10benefits; or succeeding taxable years.
SB136, s. 27 11Section 27. 71.47 (1dx) (d) of the statutes is amended to read:
SB136,11,1812 71.47 (1dx) (d) Carry-over precluded. If a person who is entitled under s.
13560.795 (3) to claim tax benefits or certified under s. 560.765 (3), 560.797 (4) or,
14560.798 (3), or 560.799 (4) for tax benefits ceases business operations in the
15development zone during any of the taxable years that that zone exists, that person
16may not carry over to any taxable year following the year during which operations
17cease any unused credits from the taxable year during which operations cease or
18from previous taxable years.
SB136, s. 28 19Section 28. 234.03 (2m) of the statutes is amended to read:
SB136,11,2120 234.03 (2m) To issue notes and bonds in accordance with ss. 234.08, 234.40,
21234.50, 234.60, 234.61, 234.626, 234.63, 234.65, and 234.66.
SB136, s. 29 22Section 29. 234.03 (11) of the statutes is amended to read:
SB136,12,223 234.03 (11) To collect fees and charges on mortgage loans and economic
24development loans and airport development loans under s. 234.63 (3) for the purpose

1of paying all or a portion of authority costs as the authority determines are
2reasonable and as approved by the authority.
SB136, s. 30 3Section 30. 234.08 (1) of the statutes is amended to read:
SB136,12,174 234.08 (1) The authority may issue its negotiable notes and bonds in such
5principal amount, as, in the opinion of the authority, is necessary to provide sufficient
6funds for achieving its corporate purposes, including the purchase of certain
7mortgages and securities and the making of secured loans for low- and
8moderate-income housing, for the rehabilitation of existing structures and for the
9construction of facilities appurtenant thereto as provided in this chapter; for the
10making of secured loans to assist eligible elderly homeowners in paying property
11taxes and special assessments; for the payment of interest on notes and bonds of the
12authority during construction; for the awarding of airport development loans under
13s. 234.63 (3);
for the establishment of reserves to secure such notes and bonds; for the
14provision of moneys for the housing development fund in order to make temporary
15loans to sponsors of housing projects as provided in this chapter; and for all other
16expenditures of the authority incident to and necessary or convenient to carry out its
17corporate purposes and powers.
SB136, s. 31 18Section 31. 234.265 (2) of the statutes is amended to read:
SB136,12,2519 234.265 (2) Records or portions of records consisting of personal or financial
20information provided by a person seeking a grant or loan under s. 234.08, 234.49,
21234.59, 234.61, 234.63, 234.65, 234.67, 234.83, 234.84, 234.90, 234.905, 234.907, or
22234.91, seeking a loan under ss. 234.621 to 234.626, seeking financial assistance
23under s. 234.66, seeking investment of funds under s. 234.03 (18m) or in which the
24authority has invested funds under s. 234.03 (18m), unless the person consents to
25disclosure of the information.
SB136, s. 32
1Section 32. 234.40 (4) of the statutes is amended to read:
SB136,13,62 234.40 (4) The limitations established in ss. 234.18 (1), 234.50, 234.60, 234.61,
3234.63, 234.65, and 234.66 are not applicable to bonds issued under the authority of
4this section. The authority may not have outstanding at any one time bonds for
5veterans housing loans in an aggregate principal amount exceeding $61,945,000,
6excluding bonds being issued to refund outstanding bonds.
SB136, s. 33 7Section 33. 234.50 (4) of the statutes is amended to read:
SB136,13,148 234.50 (4) The limitations established in ss. 234.18 (1), 234.40, 234.60, 234.61,
9234.63, 234.65, and 234.66 are not applicable to bonds issued under the authority of
10this section. The authority may not have outstanding at any one time bonds for
11housing rehabilitation loans in an aggregate principal amount exceeding
12$100,000,000, excluding bonds being issued to refund outstanding bonds. The
13authority shall consult with and coordinate the issuance of bonds with the building
14commission prior to the issuance of bonds.
SB136, s. 34 15Section 34. 234.60 (2) of the statutes is amended to read:
SB136,13,1716 234.60 (2) The limitations in ss. 234.18 (1), 234.40, 234.50, 234.61, 234.63,
17234.65, and 234.66 do not apply to bonds or notes issued under this section.
SB136, s. 35 18Section 35. 234.61 (1) of the statutes is amended to read:
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