AB40,1182,54 CHAPTER 490
5 Business assistance programs
AB40,1182,6 6490.01 Definitions. In this chapter:
AB40,1182,7 7(1) "Department" means the department of safety and professional services.
AB40,1182,8 8(2) "Secretary" means the secretary of safety and professional services.
AB40, s. 3283 9Section 3283. 551.403 (2) (a) 2. of the statutes is amended to read:
AB40,1182,1110 551.403 (2) (a) 2. Institutional investors, except any institutional investor
11described in s. 551.102 (11) (k), (m), or (o)
.
AB40, s. 3284 12Section 3284. 551.403 (2) (a) 2m. of the statutes is amended to read:
AB40,1182,1413 551.403 (2) (a) 2m. Accredited investors as defined in Rule 501 (a) (1), (2), or
14(3), (7) or (8) adopted under the Securities Act of 1933.
AB40, s. 3285 15Section 3285. Chapter 560 (title) of the statutes is repealed.
AB40, s. 3286 16Section 3286. Subchapter I (title) of chapter 560 [precedes 560.001] of the
17statutes is repealed.
AB40, s. 3287 18Section 3287. 560.001 of the statutes is repealed.
AB40, s. 3288 19Section 3288. 560.01 (title), (1) and (2) of the statutes are repealed.
AB40, s. 3289 20Section 3289. 560.01 (3) of the statutes is renumbered 238.04 (14) and
21amended to read:
AB40,1182,2522 238.04 (14) Foreign office agreements. The department may enter Enter into
23agreements regarding compensation, space, and other administrative matters as are
24necessary to operate departmental offices in other states and foreign countries. Such
25agreements shall be subject to the approval of the secretary of administration.
AB40, s. 3290
1Section 3290. 560.02 of the statutes is repealed.
AB40, s. 3291 2Section 3291. 560.03 (title) of the statutes is repealed.
AB40, s. 3292 3Section 3292. 560.03 (intro.) of the statutes is repealed.
AB40, s. 3293 4Section 3293. 560.03 (1) of the statutes is repealed.
AB40, s. 3294 5Section 3294. 560.03 (2) of the statutes is repealed.
AB40, s. 3295 6Section 3295. 560.03 (3) of the statutes is repealed.
AB40, s. 3296 7Section 3296. 560.03 (4) of the statutes is repealed.
AB40, s. 3297 8Section 3297. 560.03 (4m) of the statutes is repealed.
AB40, s. 3298 9Section 3298. 560.03 (5) of the statutes is repealed.
AB40, s. 3299 10Section 3299. 560.03 (6) of the statutes is repealed.
AB40, s. 3300 11Section 3300. 560.03 (8) of the statutes is repealed.
AB40, s. 3301 12Section 3301. 560.03 (9) of the statutes is repealed.
AB40, s. 3302 13Section 3302. 560.03 (10) of the statutes is repealed.
AB40, s. 3303 14Section 3303. 560.03 (11) of the statutes is repealed.
AB40, s. 3304 15Section 3304. 560.03 (16) of the statutes is repealed.
AB40, s. 3305 16Section 3305. 560.03 (17) of the statutes is renumbered 238.25 and amended
17to read:
AB40,1183,22 18238.25 Assistance to loan recipients. Assist The corporation shall assist
19new businesses and small businesses receiving economic development loans under
20s. 234.65 (1) (a) or the assistance of the Wisconsin Housing and Economic
21Development Authority in locating sources of venture capital and in obtaining the
22state and federal licenses and permits necessary for business operations.
AB40, s. 3306 23Section 3306. 560.03 (18) of the statutes is repealed.
AB40, s. 3307 24Section 3307. 560.03 (19) of the statutes is repealed.
AB40, s. 3308 25Section 3308. 560.03 (20) of the statutes is repealed.
AB40, s. 3309
1Section 3309. 560.03 (21) of the statutes is repealed.
AB40, s. 3310 2Section 3310. 560.03 (22) of the statutes is repealed.
AB40, s. 3311 3Section 3311. 560.03 (23) of the statutes is repealed.
AB40, s. 3312 4Section 3312. 560.03 (25) of the statutes is repealed.
AB40, s. 3313 5Section 3313. 560.03 (26) of the statutes is repealed.
AB40, s. 3314 6Section 3314. 560.031 of the statutes is repealed.
AB40, s. 3315 7Section 3315. 560.032 of the statutes is renumbered 238.10 and amended to
8read:
AB40,1184,16 9238.10 Allocation of volume cap on tax-exempt bonds. (1) Allocation.
10The department, by rule, corporation shall establish under 26 USC 146 and
11administer a system for the allocation of the volume cap on the issuance of private
12activity bonds, as defined under 26 USC 141 (a), among all municipalities, as defined
13in s. 67.01 (5), and any corporation formed on behalf of those municipalities, and
14among this state, the Wisconsin Health and Educational Facilities Authority, the
15Wisconsin Aerospace Authority, and the Wisconsin Housing and Economic
16Development Authority.
AB40,1184,22 17(2) Amendment to allocation. At any time prior to December 31 in any year,
18the department corporation may promulgate adopt rules to revise the allocation
19system established for that year under sub. (1), except that any revision under this
20subsection does not apply to any allocation under which the recipient of that
21allocation has adopted a resolution authorizing the issuance of a private activity
22bond, as defined in 26 USC 141 (a).
AB40,1185,2 23(3) Conditions. The department corporation may establish, by rule, any
24procedure for, and place any condition upon, the granting of an allocation under this
25section which the department corporation deems to be in the best interest of the state

1including, but not limited to, a requirement that a cash deposit, at a rate established
2by the department in the rules corporation, be a condition for an allocation.
AB40,1185,5 3(4) Certification. If the secretary corporation receives notice of the issuance
4of a bond under an allocation under subs. (1) to (3), the secretary corporation shall
5certify that that bond meets the requirements of 26 USC 146.
AB40, s. 3316 6Section 3316. 560.033 of the statutes is repealed.
AB40, s. 3317 7Section 3317. 560.0335 of the statutes is renumbered 490.02.
AB40, s. 3318 8Section 3318. 560.034 of the statutes is renumbered 238.11, and 238.11 (1),
9(2), (3) and (5) (intro.), as renumbered, are amended to read:
AB40,1185,1610 238.11 (1) The department corporation shall prescribe the notice forms to be
11used under ss. 66.1103 (4m) (a) 1. and 234.65 (3) (a). The department corporation
12shall include on the forms a requirement for information on the number of jobs the
13person submitting the notice expects to be eliminated, created, or maintained on the
14project site and elsewhere in this state by the project which is the subject of the
15notice. The department corporation shall prescribe the forms to be used under ss.
1666.1103 (4m) (b) and 234.65 (3r).
AB40,1185,22 17(2) If the department corporation receives a notice under s. 66.1103 (4m) (a),
18the department corporation shall estimate, no later than 20 days after receipt of the
19notice, whether the project which that is the subject of the notice is expected to
20eliminate, create, or maintain jobs on the project site and elsewhere in this state and
21the net number of jobs expected to be eliminated, created, or maintained as a result
22of the project.
AB40,1186,3 23(3) If the department corporation receives a notice under s. 234.65 (3) (a), the
24department corporation shall estimate, no later than 20 days after receipt of the
25notice, whether the project which is the subject of the notice is expected to eliminate,

1create, or maintain jobs on the project site and elsewhere in this state and the net
2number of jobs expected to be eliminated, created, or maintained as a result of the
3project.
AB40,1186,4 4(5) (intro.) The department corporation shall issue an estimate made:
AB40, s. 3319 5Section 3319. 560.035 of the statutes is renumbered 490.03.
AB40, s. 3320 6Section 3320. 560.036 of the statutes is renumbered 490.04.
AB40, s. 3321 7Section 3321. 560.037 of the statutes is renumbered 490.06, and 490.06 (1)
8(intro.) of the statutes, as renumbered, is amended to read:
AB40,1186,119 490.06 (1) (intro.) Subject to sub. (3), the department may make grants from
10the appropriation under s. 20.143 20.165 (1) (fw) to the women's business initiative
11corporation to fund its operating costs if all of the following apply:
AB40, s. 3322 12Section 3322. 560.04 of the statutes is repealed.
AB40, s. 3323 13Section 3323. 560.045 of the statutes is repealed.
AB40, s. 3324 14Section 3324. 560.047 of the statutes is repealed.
AB40, s. 3325 15Section 3325. 560.05 of the statutes is repealed.
AB40, s. 3326 16Section 3326. 560.07 of the statutes is repealed.
AB40, s. 3327 17Section 3327. 560.075 of the statutes is renumbered 238.12, and 238.12 (2),
18as renumbered, is amended to read:
AB40,1187,219 238.12 (2) The department corporation may not award a grant or loan under
20this chapter to a person or certify a person to receive tax benefits unless the
21department corporation enters into an agreement with the person that requires the
22person to repay the grant, loan, or tax benefits if, within 5 years after receiving the
23grant or loan or being certified to receive tax benefits, the person ceases to conduct
24in this state the economic activity for which the person received the grant or loan or

1for which the person was certified to receive tax benefits and commences
2substantially the same economic activity outside this state.
AB40, s. 3328 3Section 3328. 560.08 (1), (2) (intro.), (a), (b), (c), (d), (e), (f), (g), (h), (i) and (j)
4of the statutes are repealed.
AB40, s. 3329 5Section 3329. 560.08 (2) (m) of the statutes is renumbered 238.26 and
6amended to read:
AB40,1187,10 7238.26 Report to investment board. No later than September 30 of each
8even-numbered year, the corporation shall submit to the investment board a report
9describing the types of investments in businesses in this state which that will have
10the greatest likelihood of enhancing economic development in this state.
AB40, s. 3330 11Section 3330. 560.081 of the statutes is repealed.
AB40, s. 3331 12Section 3331. 560.082 of the statutes is repealed.
AB40, s. 3332 13Section 3332. 560.09 of the statutes is repealed.
AB40, s. 3333 14Section 3333. 560.097 of the statutes is renumbered 238.15 and amended to
15read:
AB40,1187,18 16238.15 Notification of position openings; compliance. The department
17corporation shall monitor compliance with the position-opening notification
18requirements under ss. 66.1103 (6m) and 106.16.
AB40, s. 3334 19Section 3334. 560.11 of the statutes is repealed.
AB40, s. 3335 20Section 3335. 560.125 (title) and (1) to (3) of the statutes are renumbered
21101.45 (title) and (1) to (3).
AB40, s. 3336 22Section 3336. 560.125 (4) (a) to (e) of the statutes are renumbered 101.45 (4)
23(a) to (e), and 101.45 (4) (d), as renumbered, is amended to read:
AB40,1188,3
1101.45 (4) (d) In any fiscal year, the department may not pay to any one
2applicant more than 20 percent of the amount appropriated under s. 20.143 (3)
320.165 (2) (sm) for the fiscal year.
AB40, s. 3337 4Section 3337. 560.125 (4) (f) and (g) of the statutes are repealed.
AB40, s. 3338 5Section 3338. 560.125 (5) to (6) of the statutes are renumbered 101.45 (5) to
6(6).
AB40, s. 3339 7Section 3339. 560.126 of the statutes is repealed.
AB40, s. 3340 8Section 3340. 560.128 of the statutes is repealed.
AB40, s. 3341 9Section 3341. 560.13 (1), (2), (3), (5) and (6m) of the statutes are renumbered
10238.13 (1), (2), (3), (5) and (6m), and 238.13 (2) (a) (intro.) and (b) 1., (3) (intro.) and
11(f) and (5), as renumbered, are amended to read:
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