2011 Wisconsin Act 32

(5) Before the department corporation awards a grant under this section, the department corporation shall consider the recommendations of the department of administration and the department of natural resources.

32,3342 Section 3342. 560.13 (4) of the statutes is repealed.

32,3343 Section 3343. 560.13 (6) of the statutes is repealed.

32,3344 Section 3344. 560.138 of the statutes is repealed.

32,3345 Section 3345. 560.139 of the statutes is repealed.

32,3346 Section 3346. 560.145 of the statutes is repealed.

32,3347 Section 3347. 560.15 of the statutes is repealed.

32,3348 Section 3348. 560.155 of the statutes is repealed.

32,3349 Section 3349. 560.157 of the statutes is repealed.

32,3350 Section 3350. 560.165 of the statutes is repealed.

32,3351 Section 3351. 560.167 of the statutes is repealed.

32,3352 Section 3352. 560.17 of the statutes is repealed.

32,3353 Section 3353. 560.19 of the statutes is repealed.

32,3354 Section 3354. 560.203 of the statutes is repealed.

32,3355g Section 3355g. 560.204 (title), (1), (2) and (4) of the statutes are renumbered 73.15 (title), (1), (2) and (3), and 73.15 (1), (2) and (3), as renumbered, are amended to read:

73.15 (1) The department of revenue shall implement a program to certify health care providers as eligible for the electronic medical records credit under ss. 71.07 (5i), 71.28 (5i), and 71.47 (5i).

(2) If the department of revenue certifies a health care provider under sub. (1), the department shall determine the amount of credits to allocate to the health care provider. The total amount of electronic medical records credits allocated to health care providers in any year may not exceed $10,000,000.

(3) The department, in consultation with the department of revenue, shall promulgate rules to administer this section.

32,3355m Section 3355m. 560.204 (3) of the statutes is repealed.

32,3356 Section 3356. 560.205 of the statutes is renumbered 238.15, and 238.15 (1) (intro.), (2) and (3) (a), (b), (d) (intro.), 1., 2. a. and b. and (e), as renumbered, are amended to read:

238.15 (1) Angel investment tax credits. (intro.) The department corporation shall implement a program to certify businesses for purposes of s. 71.07 (5d). A business desiring certification shall submit an application to the department corporation in each taxable year for which the business desires certification. The business shall specify in its application the investment amount it wishes to raise and the department corporation may certify the business and determine the amount that qualifies for purposes of s. 71.07 (5d). Unless otherwise provided under the rules of the department, a A business may be certified under this subsection, and may maintain such certification, only if the business satisfies all of the following conditions:

(2) Early stage seed investment tax credits. The department corporation shall implement a program to certify investment fund managers for purposes of ss. 71.07 (5b), 71.28 (5b), 71.47 (5b), and 76.638. An investment fund manager desiring certification shall submit an application to the department corporation. The investment fund manager shall specify in the application the investment amount that the manager wishes to raise and the department corporation may certify the manager and determine the amount that qualifies for purposes of ss. 71.07 (5b), 71.28 (5b), 71.47 (5b), and 76.638. In determining whether to certify an investment fund manager, the department corporation shall consider the investment fund manager's experience in managing venture capital funds, the past performance of investment funds managed by the applicant, the expected level of investment in the investment fund to be managed by the applicant, and any other relevant factors. The department corporation may certify only investment fund managers that commit to consider placing investments in businesses certified under sub. (1).

(3) (a) List of certified businesses and investment fund managers. The department corporation shall maintain a list of businesses certified under sub. (1) and investment fund managers certified under sub. (2) and shall permit public access to the lists through the department's corporation's Internet Web site.

(b) Notification of department of revenue. The department of commerce corporation shall notify the department of revenue of every certification issued under sub. subs. (1) and (2) and the date on which any such certification is revoked or expires.

(d) Rules. (intro.) The department of commerce corporation, in consultation with the department of revenue, shall promulgate adopt rules to administer this section. The rules shall further define "bona fide angel investment" for purposes of s. 71.07 (5d) (a) 1. The rules shall limit the aggregate amount of tax credits under s. 71.07 (5d) that may be claimed for investments in businesses certified under sub. (1) at $3,000,000 per calendar year for calendar years beginning after December 31, 2004, and before January 1, 2008, $5,500,000 per calendar year for calendar years beginning after December 31, 2007, and before January 1, 2010, $6,500,000 for calendar year 2010, and $20,000,000 per calendar year for calendar years beginning after December 31, 2010, plus, for taxable years beginning after December 31, 2010, an additional $250,000 for tax credits that may be claimed for investments in nanotechnology businesses certified under sub. (1). The rules shall also limit the aggregate amount of the tax credits under ss. 71.07 (5b), 71.28 (5b), 71.47 (5b), and 76.638 that may be claimed for investments paid to fund managers certified under sub. (2) at $3,500,000 per calendar year for calendar years beginning after December 31, 2004, and before January 1, 2008, $6,000,000 per calendar year for calendar years beginning after December 31, 2007, and before January 1, 2010, $8,000,000 for calendar year 2010, and $20,500,000 per calendar year for calendar years beginning after December 31, 2010, plus, for taxable years beginning after December 31, 2010, an additional $250,000 for tax credits that may be claimed for investments in nanotechnology businesses certified under sub. (1). The rules shall also provide that, for calendar years beginning after December 31, 2007, no person may receive a credit under ss. 71.07 (5b) and (5d), 71.28 (5b), 71.47 (5b), or 76.638 unless the person's investment is kept in a certified business, or with a certified fund manager, for no less than 3 years. The rules shall permit the department corporation to reallocate credits under this section that are unused in any calendar year to a person eligible for tax benefits, as defined under s. 560.2055 238.16 (1) (d), if all of the following apply:

1. The department corporation notifies the joint committee on finance in writing of its proposed reallocation.

2. a. The cochairpersons of the joint committee on finance fail to notify the department corporation, within 14 working days after the date of the department's corporation's notification under subd. 1., that the committee has scheduled a meeting for the purpose of reviewing the proposed reallocation.

b. The cochairpersons of the joint committee on finance notify the department corporation that the committee has approved the proposed reallocation.

(e) Transfer. A person who is eligible to claim a credit under s. 71.07 (5b), 71.28 (5b), 71.47 (5b), or 76.638 may sell or otherwise transfer the credit to another person who is subject to the taxes or fees imposed under s. 71.02, 71.23, 71.47, or subch. III of ch. 76, if the person receives prior authorization from the investment fund manager and the manager then notifies the department of commerce corporation and the department of revenue of the transfer and submits with the notification a copy of the transfer documents. No person may sell or otherwise transfer a credit as provided in this paragraph more than once in a 12-month period. The department corporation may charge any person selling or otherwise transferring a credit under this paragraph a fee equal to 1 percent of the credit amount sold or transferred. The department shall deposit all fees collected under this paragraph in the appropriation account under s. 20.143 (1) (gm).

32,3357 Section 3357. 560.2055 (title) and (1) of the statutes are renumbered 238.16 (title) and (1).

32,3358 Section 3358. 560.2055 (2) of the statutes is renumbered 238.16 (2), and 238.16 (2) (intro.) and (b), as renumbered, are amended to read:

238.16 (2) (intro.) The department corporation may certify a person to receive tax benefits under this section if all of the following apply:

(b) The person applies under this section and enters into a contract with the department corporation.

32,3359m Section 3359m. 560.2055 (3) of the statutes is renumbered 238.16 (3), and 238.16 (3) (intro.), (a) and (b) of the statutes, as renumbered, are amended to read:

238.16 (3) Eligibility for tax benefits. (intro.) A person certified under sub. (2) may receive tax benefits under this section if, in each year for which the person claims tax benefits under this section, the person increases net employment in the person's business, and one of the following apply applies:

(a) In a tier I county or municipality, an eligible employee for whom the person claims a tax credit will earn at least $20,000 but not more than $100,000 in wages from the person in the year for which the credit is claimed.

(b) In a tier II county or municipality, an eligible employee for whom the person claims a tax credit will earn at least $30,000 but not more than $100,000 in wages from the person in the year for which the credit is claimed.

32,3362 Section 3362. 560.2055 (4) (title) and (a) of the statutes are renumbered 238.16 (4) (title) and (a).

32,3363m Section 3363m. 560.2055 (4) (b) 1. of the statutes is renumbered 238.16 (4) (b) 1. and amended to read:

238.16 (4) (b) 1. The department corporation may award to a person certified under sub. (2) tax benefits for each eligible employee in an amount equal to up to 10 percent of the wages paid by the person to that employee or $10,000, whichever is less, if that employee earned wages in the year for which the tax benefit is claimed equal to one of the following:

a. In a tier I county or municipality, at least $20,000 but not more than $100,000.

b. In a tier II county or municipality, at least $30,000 but not more than $100,000.

32,3365 Section 3365. 560.2055 (4) (b) 2. and (c) of the statutes are renumbered 238.16 (4) (b) 2. and (c) and amended to read:

238.16 (4) (b) 2. The department corporation may award to a person certified under sub. (2) tax benefits in an amount to be determined by the department by rule corporation for costs incurred by the person to undertake the training activities described in sub. (3) (c).

(c) Subject to a reallocation by the department corporation pursuant to rules promulgated adopted under s. 560.205 238.215 (3) (d), the department corporation may allocate up to $5,000,000 in tax benefits under this section in any calendar year.

32,3366 Section 3366. 560.2055 (5) of the statutes is renumbered 238.16 (5), and 238.16 (5) (title), (a), (b), (c), (d), (e) and (f) (intro.) and 1. (intro.), as renumbered, are amended to read:

238.16 (5) (title) Duties of the department corporation. (a) The department of commerce corporation shall notify the department of revenue when the department of commerce corporation certifies a person to receive tax benefits.

(b) The department of commerce corporation shall notify the department of revenue within 30 days of revoking a certification made under sub. (2).

(c) The department corporation may require a person to repay any tax benefits the person claims for a year in which the person failed to maintain employment required by an agreement under sub. (2) (b).

(d) The department corporation shall determine the maximum amount of the tax credits under ss. 71.07 (3q), 71.28 (3q), and 71.47 (3q) that a certified business may claim and shall notify the department of revenue of this amount.

(e) The department corporation shall annually verify the information submitted to the department corporation by the person claiming tax benefits under ss. 71.07 (3q), 71.28 (3q), and 71.47 (3q).

(f) (intro.) The department corporation shall promulgate adopt rules for the implementation and operation of this section, including rules relating to the following:

1. (intro.) The definitions of a tier I county or municipality and a tier II county or municipality. The department corporation may consider all of the following information when establishing the definitions required under this subdivision:

32,3367 Section 3367. 560.2056 of the statutes is renumbered 93.54 and amended to read:

93.54 Food processing plant and food warehouse investment credit. (1) The department of commerce shall implement a program to certify taxpayers as eligible for the food processing plant and food warehouse investment credit under ss. 71.07 (3rn), 71.28 (3rn), and 71.47 (3rn).

(2) If the department of commerce certifies a taxpayer under sub. (1), the department of commerce shall determine the amount of credits to allocate to that taxpayer. The total amount of food processing plant and food warehouse investment credits allocated to taxpayers in fiscal year 2009-10 may not exceed $600,000 and the total amount of food processing plant and food warehouse investment credits allocated to taxpayers in fiscal year 2010-11, and in each fiscal year thereafter, may not exceed $700,000.

(3) The department of commerce shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.

(4) The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section.

32,3368 Section 3368. 560.206 of the statutes is renumbered 41.155, and 41.155 (4), as renumbered, is amended to read:

41.155 (4) The department of commerce tourism, in consultation with the department of revenue, shall promulgate rules to administer this section.

32,3369 Section 3369. 560.207 of the statutes is renumbered 93.535 and amended to read:

93.535 Dairy manufacturing facility investment credit. (1) The department of commerce shall implement a program to certify taxpayers, including taxpayers who are members of dairy cooperatives, as eligible for the dairy manufacturing facility investment credit under ss. 71.07 (3p), 71.28 (3p), and 71.47 (3p).

(2) If the department of commerce certifies a taxpayer under sub. (1), the department of commerce shall determine the amount of credits to allocate to that taxpayer. The total amount of dairy manufacturing facility investment credits allocated to taxpayers in fiscal year 2007-08 may not exceed $600,000 and the total amount of dairy manufacturing facility investment credits allocated to taxpayers who are not members of dairy cooperatives in fiscal year 2008-09, and in each fiscal year thereafter, may not exceed $700,000. The total amount of dairy manufacturing facility investment credits allocated to taxpayers who are members of dairy cooperatives in fiscal year 2009-10 may not exceed $600,000 and the total amount of dairy manufacturing facility investment credits allocated to taxpayers who are members of dairy cooperatives in fiscal year 2010-11, and in each fiscal year thereafter, may not exceed $700,000.

(3) The department of commerce shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.

(4) The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section.

32,3370 Section 3370. 560.208 of the statutes is renumbered 93.545 and amended to read:

93.545 Meat processing facility investment credit. (1) The department of commerce shall implement a program to certify taxpayers as eligible for the meat processing facility investment credit under ss. 71.07 (3r), 71.28 (3r), and 71.47 (3r).

(2) If the department of commerce certifies a taxpayer under sub. (1), the department of commerce shall determine the amount of credits to allocate to that taxpayer. The total amount of meat processing facility investment credits allocated to taxpayers in fiscal year 2009-10 may not exceed $300,000 and the total amount of meat processing facility investment credits allocated to taxpayers in fiscal year 2010-11, and in each fiscal year thereafter, may not exceed $700,000.

(3) The department of commerce shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.

(4) The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section.

32,3371 Section 3371. 560.2085 of the statutes is renumbered 238.20, and 238.20 (1) (intro.), (2) and (3), as renumbered, are amended to read:

238.20 (1) (intro.) The department corporation shall implement a program to certify qualified new business ventures for purposes of s. 71.05 (24). A business desiring certification shall submit an application to the department corporation in each taxable year for which the business desires certification. Subject to sub. (2), a business may be certified under this subsection, and may maintain such certification, only if the business is engaged in one of the following:

(2) The department corporation may not certify a business under sub. (1) if the business is engaged in real estate development, insurance, banking, lending, lobbying, political consultation, professional services provided by attorneys, accountants, business consultants, physicians, or health care consultants, wholesale or retail sales, leisure, hospitality, transportation, or construction.

(3) (a) The department corporation shall maintain a list of businesses certified under sub. (1) and shall permit public access to the lists through the department's corporation's Internet Web site.

(b) The department of commerce corporation shall notify the department of revenue of every certification issued under sub. (1) and the date on which a certification under sub. (1) is revoked or expires.

32,3372 Section 3372. 560.209 of the statutes is renumbered 93.547 and amended to read:

93.547 Woody biomass harvesting and processing credit. (1) The department of commerce shall implement a program to certify taxpayers as eligible for the woody biomass harvesting and processing credit under ss. 71.07 (3rm), 71.28 (3rm), and 71.47 (3rm).

(2) If the department of commerce certifies a taxpayer under sub. (1), the department of commerce shall determine the amount of credits to allocate to that taxpayer. The total amount of woody biomass harvesting and processing credits allocated to taxpayers in any fiscal year may not exceed $900,000. In each fiscal year, the department of commerce shall allocate $450,000 in tax credits to businesses that, individually, have no more than $5,000,000 in gross receipts from doing business in this state for the taxable year in which the credit is claimed.

(3) The department of commerce shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.

(4) The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section.

32,3373 Section 3373. 560.21 of the statutes is repealed.

32,3374 Section 3374. 560.25 of the statutes is repealed.

32,3375 Section 3375. 560.255 of the statutes is repealed.

32,3376 Section 3376. 560.27 of the statutes is repealed.

32,3377 Section 3377. 560.275 of the statutes is repealed.

32,3378 Section 3378. 560.276 of the statutes is repealed.

32,3379 Section 3379. 560.277 of the statutes is repealed.

32,3380 Section 3380. 560.28 of the statutes is repealed.

32,3380m Section 3380m. 560.285 (title) of the statutes is renumbered 101.934 (title).