AB701: Bill Text

LRB-3326/1

MPG:kjf:rs

2011 - 2012 LEGISLATURE

2011 Assembly BILL 701

March 15, 2012 - Introduced by Representatives Barca, Williams, Jacque, Grigsby, Milroy, Nygren, Wynn, Pasch, Berceau, Stone, Pocan, Hulsey, Brooks, Mason, A. Ott, Hebl, Molepske Jr, Kerkman, C. Taylor, Seidel, Marklein, Clark, Fields and Roys, cosponsored by Senators Lassa, Zipperer, Leibham, Taylor, Wanggaard, Shilling, Hansen, Cowles, Holperin, Olsen, Schultz, C. Larson, Risser, Moulton, Vinehout and S. Coggs. Referred to Committee on Homeland Security and State Affairs.

AB701,1,3 An Act to create 238.07 (2) (am), 238.07 (2) (dm) and 238.07 (2) (fm) of the statutes; relating to: reporting requirements regarding economic development programs of the Wisconsin Economic Development Corporation.

Analysis by the Legislative Reference Bureau

Under current law, the Wisconsin Economic Development Corporation (WEDC) administers, develops, and implements economic development programs that have the purpose of encouraging the establishment and growth of businesses in this state, including programs under which WEDC allocates tax credits. Each year, WEDC submits a report by October l to the Joint Legislative Audit Committee and each house of the legislature that provides information about the progress of WEDC's economic development programs during the previous fiscal year. That report must contain all of the following:

1. A description of each program.

2. A comparison of expected and actual program outcomes.

3. The number of grants made under each program.

4. The number of loans made under each program.

5. The amount of each grant or loan.

6. The recipient of each grant or loan.

7. The sum total of all grants and loans awarded to and received by each recipient under an economic development program.

8. Any recommended changes to each program.

This bill requires WEDC to submit the following additional information in its annual report:

1. Quantifiable performance measures directly related to the purpose of each economic development program, including an accounting of the location, by municipality, of each job created or retained in the state in the previous fiscal year as a result of the program and an accounting of the industry classification, by municipality, of each job created or retained in the state in the previous fiscal year as a result of the program.

2. The amount of tax benefits that were allocated by WEDC or that WEDC verified to the Department of Revenue (DOR) under each program in the previous fiscal year.

3. An identification of each recipient of a tax benefit that was allocated to the recipient by WEDC or that WEDC verified to DOR during the previous fiscal year.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB701, s. 1 Section 1. 238.07 (2) (am) of the statutes is created to read:

AB701,2,3 238.07 (2) (am) Quantifiable performance measures directly related to the purpose of the program including, when applicable, all of the following information:

AB701,2,5 1. An accounting of the location, by municipality, of each job created or retained in the state in the previous fiscal year as a result of the program.

AB701,2,7 2. An accounting of the industry classification, by municipality, of each job created or retained in the state as a result of the program.

AB701, s. 2 Section 2. 238.07 (2) (dm) of the statutes is created to read:

AB701,2,11 238.07 (2) (dm) The total amount of tax benefits that the corporation allocated and the total amount of tax benefits that the corporation verified to the department of revenue under the program.

AB701, s. 3 Section 3. 238.07 (2) (fm) of the statutes is created to read:

AB701,2,15 238.07 (2) (fm) An identification of each recipient of a tax benefit that was allocated by the corporation and each recipient of a tax benefit that was verified by the corporation to the department of revenue under the program.

AB701,2,16 (End)