LRBs0400/1
FFK&JK:jld&wlj:ch
2011 - 2012 LEGISLATURE
ASSEMBLY SUBSTITUTE AMENDMENT 1,
TO 2011 SENATE BILL 463
March 15, 2012 - Offered by Representatives Barca, Seidel, Pasch, Danou, Sinicki,
Turner, Hebl, Vruwink, Clark, Bernard Schaber, Milroy, Molepske Jr and
Jorgensen.
SB463-ASA1,1,13
1An Act to repeal 71.07 (5d) (c) 1.;
to amend 16.413 (1) (b), 16.413 (1) (d), 16.413
2(3) (a) (intro.), 71.07 (5b) (d) 1., 71.07 (5b) (d) 3., 71.07 (5d) (d) 1., 71.07 (5d) (d)
32., 71.10 (4) (gwb), 71.10 (4) (gx), 71.10 (4) (i), 71.28 (5b) (d) 1., 71.28 (5b) (d) 3.,
471.30 (3) (eop), 71.30 (3) (f), 71.47 (5b) (d) 1., 71.47 (5b) (d) 3., 71.49 (1) (eop),
571.49 (1) (f), 73.03 (63), 238.15 (1) (intro.), 238.15 (1) (h), 238.15 (1) (j), 238.15
6(1) (km) and 238.15 (3) (d) (intro.); and
to create 16.413 (3) (a) 6. and 7., 16.413
7(3) (c), (d) and (e), 20.835 (2) (ba), 71.07 (5b) (d) 1m., 71.07 (5b) (d) 4., 71.07 (5d)
8(d) 2m., 71.07 (5d) (d) 5., 71.28 (5b) (d) 1m., 71.28 (5b) (d) 4., 71.47 (5b) (d) 1m.,
971.47 (5b) (d) 4. and 238.15 (1) (m) of the statutes;
relating to: the angel
10investment and early stage seed investment tax credit programs, making
11changes to disclosure requirements regarding state agency expenditures
12concerning economic development programs, requiring the exercise of
13rule-making authority, making an appropriation, and providing a penalty.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB463-ASA1,2,83
16.413
(1) (b) "Grant" means a payment made to
a person, other than aids to
4individuals and organizations and local assistance and the payment of salaries and
5fringe benefits for state employees an entity, including a public utility as defined in
6s. 196.01 (5) or a sewerage system operator as defined in s. 196.04 (4) (a). "Grant"
7includes a loan and any tax credit, whether refundable or nonrefundable, that is
8issued to an entity.
SB463-ASA1,2,1711
16.413
(1) (d) "State agency"
has the meaning given in s. 20.001 (1) means an
12office, department, independent agency, institution of higher education, association,
13society, or other body in state government created or authorized to be created by the
14constitution or any law, which is entitled to expend moneys appropriated by law,
15including the legislature and the courts and including an authority created in subch.
16II of ch. 114 or subch. III of ch. 149 or in ch. 231, 232, 233, 234, 235, 237, 238, or 279.
17"State agency" includes a local governmental unit, as defined in s. 16.97 (7).
SB463-ASA1,2,2320
16.413
(3) (a) (intro.) The department shall ensure that all of the following
21information relating to each grant
that exceeds $100 made by a state agency or
22contract entered into by a state agency is available for inspection on a searchable
23Internet Web site maintained by the department:
SB463-ASA1, s. 4
1Section
4. 16.413 (3) (a) 6. and 7. of the statutes are created to read:
SB463-ASA1,3,82
16.413
(3) (a) 6. With respect to any grant that is related to an economic
3development program, as defined in s. 238.01 (3), an accounting by job classification
4of the compensation, including benefits and bonuses or other incentive pay, that the
5grant recipient paid to each of its employees in the immediately preceding fiscal year;
6and an accounting of the percentage and dollar amount of increase in compensation,
7including benefits and bonuses or other incentive pay, for each employee in the
8immediately preceding fiscal year relative to the fiscal year prior to that year.
SB463-ASA1,3,139
7. With respect to any grant that is related to an economic development
10program, as defined in s. 238.01 (3), once a grant recipient has spent a grant from a
11state agency, a verified statement describing the recipient's expenditures of grant
12funds, signed by both an independent certified public accountant and the director or
13principal officer of the recipient that attests to the accuracy of the verified statement.
SB463-ASA1, s. 5
14Section
5. 16.413 (3) (c), (d) and (e) of the statutes are created to read:
SB463-ASA1,3,1715
16.413
(3) (c) 1. Each state agency that makes a grant for which a verified
16statement is required under par. (a) 7. shall make that verified statement available
17for inspection on an Internet Web site maintained by the state agency.
SB463-ASA1,3,2218
2. Each grant recipient for which a verified statement is required under par.
19(a) 7. and that maintained an Internet Web site at any time during the 12 months
20preceding the recipient's receipt of that grant, shall, for a period of at least 5 years,
21make the verified statement signed by the grant recipient under par. (a) 7. available
22on an Internet Web site maintained by the grant recipient.
SB463-ASA1,4,323
3. The department shall attempt to ensure coordination between the
24department, the Wisconsin Economic Development Corporation, any other state
25agency that administers economic development programs, as defined in s. 238.01 (3),
1and the federal government concerning the award of grants under those economic
2development programs and the disclosures required under this subsection with
3respect to those economic development programs.
SB463-ASA1,4,94
(d) Each state agency shall be responsible for, and shall establish by rule
5policies and procedures for, the detection and investigation of misuse of grants, and
6the use of fraud or deceit to obtain grants, from the state agency. If a state agency
7detects any misuse of a state grant or fraud, the state agency shall report that misuse
8or fraud to the department of justice for investigation, including criminal
9investigation.
SB463-ASA1,4,1310
(e) If, after investigation and an opportunity for hearing, a state agency
11determines that a grant recipient has misused the grant or obtained or attempted
12to obtain the grant through fraud or deceit, the state agency may do any of the
13following:
SB463-ASA1,4,1414
1. Recover payments made to the recipient.
SB463-ASA1,4,1515
2. Withhold payments to be made to the recipient.
SB463-ASA1,4,1616
3. Assess a forfeiture against the recipient.
SB463-ASA1, s. 6
17Section
6. 20.835 (2) (ba) of the statutes is created to read:
SB463-ASA1,4,2018
20.835
(2) (ba)
Early stage seed and angel investment credits. A sum sufficient
19to make the payments under ss. 71.07 (5b) (d) 4. and (5d) (d) 5., 71.28 (5b) (d) 4., and
2071.47 (5b) (d) 4.
SB463-ASA1, s. 7
21Section
7. 71.07 (5b) (d) 1. of the statutes is amended to read:
SB463-ASA1,4,2422
71.07
(5b) (d) 1.
Section For taxable years beginning before January 1, 2012,
23s. 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit
24under this subsection.
SB463-ASA1, s. 8
25Section
8. 71.07 (5b) (d) 1m. of the statutes is created to read:
SB463-ASA1,5,3
171.07
(5b) (d) 1m. For taxable years beginning after December 31, 2011, s.
271.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the
3credit under this subsection.
SB463-ASA1,5,106
71.07
(5b) (d) 3.
For Except as provided under s. 238.15 (3) (d) (intro.), for 7investments made after December 31, 2007, if an investment for which a claimant
8claims a credit under par. (b) is held by the claimant for less than 3 years, the
9claimant shall pay to the department, in the manner prescribed by the department,
10the amount of the credit that the claimant received related to the investment.
SB463-ASA1, s. 10
11Section
10. 71.07 (5b) (d) 4. of the statutes is created to read:
SB463-ASA1,5,1712
71.07
(5b) (d) 4. For taxable years beginning after December 31, 2011, if the
13allowable amount of the claim under par. (b) exceeds the tax otherwise due under s.
1471.02 or 71.08, the amount of the claim not used to offset the tax due shall be certified
15by the department of revenue to the department of administration for payment by
16check, share draft, or other draft drawn from the appropriation account under s.
1720.835 (2) (ba).
SB463-ASA1,5,2521
71.07
(5d) (d) 1.
For Except as provided under s. 238.15 (3) (d) (intro.), for 22investments made after December 31, 2007, if an investment for which a claimant
23claims a credit under par. (b) is held by the claimant for less than 3 years, the
24claimant shall pay to the department, in the manner prescribed by the department,
25the amount of the credit that the claimant received related to the investment.
SB463-ASA1,6,42
71.07
(5d) (d) 2.
Section For taxable years beginning before January 1, 2012,
3s. 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit
4under this subsection.
SB463-ASA1, s. 14
5Section
14. 71.07 (5d) (d) 2m. of the statutes is created to read:
SB463-ASA1,6,86
71.07
(5d) (d) 2m. For taxable years beginning after December 31, 2011, s.
771.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the
8credit under this subsection.
SB463-ASA1,6,1510
71.07
(5d) (d) 5. For taxable years beginning after December 31, 2011, if the
11allowable amount of the claim under par. (b) exceeds the tax otherwise due under s.
1271.02 or 71.08, the amount of the claim not used to offset the tax due shall be certified
13by the department of revenue to the department of administration for payment by
14check, share draft, or other draft drawn from the appropriation account under s.
1520.835 (2) (ba).
SB463-ASA1,6,1817
71.10
(4) (gwb) Early stage seed investment credit under s. 71.07 (5b)
, except
18as provided under par. (i).
SB463-ASA1,6,2120
71.10
(4) (gx) Angel investment credit under s. 71.07 (5d)
, except as provided
21under par. (i).
SB463-ASA1,7,1123
71.10
(4) (i) The total of claim of right credit under s. 71.07 (1), farmland
24preservation credit under ss. 71.57 to 71.61, farmland preservation credit, 2010 and
25beyond under s. 71.613, homestead credit under subch. VIII, farmland tax relief
1credit under s. 71.07 (3m), dairy manufacturing facility investment credit under s.
271.07 (3p), jobs tax credit under s. 71.07 (3q), meat processing facility investment
3credit under s. 71.07 (3r), woody biomass harvesting and processing credit under s.
471.07 (3rm), food processing plant and food warehouse investment credit under s.
571.07 (3rn),
early stage seed investment credit under s. 71.07 (5b) (d) 4., angel
6investment credit under s. 71.07 (5d) (d) 5., film production services credit under s.
771.07 (5f), film production company investment credit under s. 71.07 (5h), veterans
8and surviving spouses property tax credit under s. 71.07 (6e), enterprise zone jobs
9credit under s. 71.07 (3w), beginning farmer and farm asset owner tax credit under
10s. 71.07 (8r), earned income tax credit under s. 71.07 (9e), estimated tax payments
11under s. 71.09, and taxes withheld under subch. X.
SB463-ASA1, s. 19
12Section
19. 71.28 (5b) (d) 1. of the statutes is amended to read:
SB463-ASA1,7,1513
71.28
(5b) (d) 1.
Subsection For taxable years beginning before January 1,
142012, sub. (4) (e) to (h), as it applies to the credit under sub. (4), applies to the credit
15under this subsection.
SB463-ASA1, s. 20
16Section
20. 71.28 (5b) (d) 1m. of the statutes is created to read:
SB463-ASA1,7,1917
71.28
(5b) (d) 1m. For taxable years beginning after December 31, 2011, sub.
18(4) (e), (g), and (h), as it applies to the credit under sub. (4), applies to the credit under
19this subsection.
SB463-ASA1,8,222
71.28
(5b) (d) 3.
For Except as provided under s. 238.15 (3) (d) (intro.), for 23investments made after December 31, 2007, if an investment for which a claimant
24claims a credit under par. (b) is held by the claimant for less than 3 years, the
1claimant shall pay to the department, in the manner prescribed by the department,
2the amount of the credit that the claimant received related to the investment.
