SB21,1471,6 3235.015 Liability limited. Neither the state nor any political subdivision of
4the state, nor any officer, employee, or agent of the state or a political subdivision of
5the state who is acting within the scope of employment or agency, is liable for any
6debt, obligation, act, or omission of the corporation authority.
SB21,3966 7Section 3966. 238.07 of the statutes is renumbered 235.016, and 235.016 (1),
8(2) (intro.), (3) and (4), as renumbered, are amended to read:
SB21,1471,139 235.016 (1) Annually, by January October 1, the board authority shall submit
10to the chief clerk of each house of the legislature, for distribution to the legislature
11under s. 13.172 (2), a report identifying the economic development and housing
12programs and
projects that the board authority intends to develop and implement
13during the current calendar fiscal year.
SB21,1471,18 14(2) (intro.) Annually, no later than October l, the board authority shall submit
15to the joint legislative audit committee and the chief clerk of each house of the
16legislature, for distribution to the legislature under s. 13.172 (2), a report for the
17previous fiscal year on each of the economic development programs of the corporation
18authority that contains all of the following:
SB21,1471,20 19(3) The board authority shall make readily accessible to the public on an
20Internet-based system the information required under sub. (2).
SB21,1471,25 21(4) Annually, beginning in 2014 2016, the board shall have an independent
22audit conducted of the corporation's authority's financial statements for the previous
23fiscal year and submit the audit report to the joint legislative audit committee and
24the chief clerk of each house of the legislature, for distribution to the legislature
25under s. 13.172 (2).
SB21,3967
1Section 3967. 238.08 of the statutes is repealed.
SB21,3968 2Section 3968. 238.09 of the statutes is renumbered 235.017, and 235.017 (1),
3(2) and (3), as renumbered, are amended to read:
SB21,1472,54 235.017 (1) When the corporation authority is required to publicly solicit
5proposals from multiple vendors of goods or services.
SB21,1472,7 6(2) How the corporation authority is to evaluate proposals from multiple
7vendors.
SB21,1472,9 8(3) How the corporation authority is to assess any conflict of interest a vendor
9may have if the vendor sells goods or services to the corporation authority.
SB21,3969 10Section 3969. 238.10 of the statutes is renumbered 235.018, and 235.018 (1)
11to (4), as renumbered, are amended to read:
SB21,1472,1812 235.018 (1) Allocation. The corporation authority shall establish under 26
13USC 146
and administer a system for the allocation of the volume cap on the issuance
14of private activity bonds, as defined under 26 USC 141 (a), among all municipalities,
15as defined in s. 67.01 (5), and any corporation formed on behalf of those
16municipalities, and among this state, the Wisconsin Health and Educational
17Facilities Authority, the Wisconsin Aerospace Authority, and the Wisconsin Housing
18and Economic Development Authority
authority.
SB21,1472,24 19(2) Amendment to allocation. At any time prior to December 31 in any year,
20the corporation authority may adopt rules policies and procedures to revise the
21allocation system established for that year under sub. (1), except that any revision
22under this subsection does not apply to any allocation under which the recipient of
23that allocation has adopted a resolution authorizing the issuance of a private activity
24bond, as defined in 26 USC 141 (a).
SB21,1473,5
1(3) Conditions. The corporation authority may establish any procedure for,
2and place any condition upon, the granting of an allocation under this section which
3the corporation authority deems to be in the best interest of the state including a
4requirement that a cash deposit, at a rate established by the corporation authority,
5be a condition for an allocation.
SB21,1473,8 6(4) Certification. If the corporation authority receives notice of the issuance
7of a bond under an allocation under subs. (1) to (3), the corporation authority shall
8certify that that bond meets the requirements of 26 USC 146.
SB21,3970 9Section 3970. 238.11 of the statutes is renumbered 235.11, and 235.11 (1), (2)
10and (5), as renumbered, are amended to read:
SB21,1473,1611 235.11 (1) The corporation authority shall prescribe the notice forms to be used
12under s. 66.1103 (4m) (a) 1. The corporation authority shall include on the forms a
13requirement for information on the number of jobs the person submitting the notice
14expects to be eliminated, created, or maintained on the project site and elsewhere in
15this state by the project which is the subject of the notice. The corporation authority
16shall prescribe the forms to be used under s. 66.1103 (4m) (b).
SB21,1473,21 17(2) If the corporation authority receives a notice under s. 66.1103 (4m) (a), the
18corporation authority shall estimate, no later than 20 days after receipt of the notice,
19whether the project that is the subject of the notice is expected to eliminate, create,
20or maintain jobs on the project site and elsewhere in this state and the net number
21of jobs expected to be eliminated, created, or maintained as a result of the project.
SB21,1473,24 22(5) The corporation authority shall issue an estimate made under sub. (2) to
23the city, village, town, or county which will issue the bonds to finance the project
24which is the subject of the estimate.
SB21,3971
1Section 3971. 238.12 of the statutes is renumbered 235.12 and amended to
2read:
SB21,1474,7 3235.12 Repayment of grants, loans, and tax benefits. (1) In this section,
4"tax benefits" means the credits under ss. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm),
5(2dr), (2ds), (2dx), (3g), and (3t), 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds),
6(1dx), (3g), and (3t), 71.47 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (3g), and
7(3t), and 76.636.
SB21,1474,15 8(2) The corporation authority may not award a grant or loan under this chapter
9to a person or certify a person to receive tax benefits unless the corporation authority
10enters into an agreement with the person that requires the person to repay the grant,
11loan, or tax benefits if, within 5 years after receiving the grant or loan or being
12certified to receive tax benefits, the person ceases to conduct in this state the
13economic activity for which the person received the grant or loan or for which the
14person was certified to receive tax benefits and commences substantially the same
15economic activity outside this state.
SB21,3972 16Section 3972. 238.125 of the statutes is repealed.
SB21,3973 17Section 3973. 238.127 of the statutes is renumbered 235.127, and 235.127 (2)
18(intro.), (c) (intro.), (e), (h) and (j), as renumbered, are amended to read:
SB21,1474,2419 235.127 (2) (intro.) The corporation authority shall establish and administer
20a state main street program to coordinate state and local participation in programs
21offered by the national main street center, created by the national trust for historic
22preservation, to assist municipalities in planning, managing and implementing
23programs for the revitalization of business areas. The corporation authority shall
24do all of the following:
SB21,1475,3
1(c) (intro.) With help from interested individuals and organizations, develop a
2plan describing the objectives of the state main street program and the methods by
3which the corporation authority shall:
SB21,1475,124 (e) Annually select, upon application, up to 5 municipalities to participate in
5the state main street program. The program for each municipality shall conclude
6after 3 years, except that the program for each municipality selected after July 29,
71995, shall conclude after 5 years. The corporation authority shall select program
8participants representing various geographical regions and populations. A
9municipality may apply to participate, and the corporation authority may select a
10municipality for participation, more than one time. In selecting a municipality,
11however, the corporation authority may give priority to those municipalities that
12have not previously participated.
SB21,1475,1613 (h) Provide training, technical assistance and information on the revitalization
14of business areas to municipalities which do not participate in the state main street
15program. The corporation authority may charge reasonable fees for the services and
16information provided under this paragraph.
SB21,1475,1817 (j) The corporation authority shall expend at least $250,000 annually on the
18state main street program.
SB21,3974 19Section 3974 . 238.13 of the statutes, as affected by 2015 Wisconsin Act .... (this
20act), is renumbered 235.13, and 235.13 (2) (a) (intro.), (3) (intro.) and (f) and (5), as
21renumbered, are amended to read:
SB21,1475,2322 235.13 (2) (a) (intro.) The corporation authority may make a grant to a person
23if all of the following apply:
SB21,1475,25 24(3) (intro.) The corporation authority may consider the following criteria in
25making awards under this section:
SB21,1476,2
1(f) Any other factors considered by the corporation to be authority considers
2relevant to assessing the viability and feasibility of the project.
SB21,1476,5 3(5) Before the corporation authority awards a grant under this section, the
4corporation authority shall consider the recommendations of the department of
5natural resources.
SB21,3975 6Section 3975. 238.13 (2) (b) 2. of the statutes is repealed.
SB21,3976 7Section 3976. 238.13 (2) (b) 3. of the statutes is created to read:
SB21,1476,98 238.13 (2) (b) 3. The recipient of a grant under this section shall contribute to
9the project an amount that is equal to at least 50 percent of the amount of the grant.
SB21,3977 10Section 3977. 238.13 (5) of the statutes is amended to read:
SB21,1476,1311 238.13 (5) Before the corporation awards a grant under this section, the
12corporation shall consider the recommendations of the department of administration
13and
the department of natural resources.
SB21,3978 14Section 3978. 238.133 of the statutes is renumbered 235.133, and 235.133 (2)
15(title), (a), (b), (c) and (d), (3) (intro.), (4), (5) (intro.) and (c), (6) and (7), as
16renumbered, are amended to read:
SB21,1476,1717 235.133 (2) (title) Duties of the corporation authority.
SB21,1476,2118 (a) The corporation authority shall administer a program to award brownfield
19site assessment grants from the appropriation under s. 20.192 (1) 20.885 (3) (s) to
20local governmental units for the purposes of conducting any of the eligible activities
21under sub. (3).
SB21,1476,2422 (b) The corporation authority may not award a grant to a local governmental
23unit under this section if that local governmental unit caused the environmental
24contamination that is the basis for the grant request.
SB21,1477,4
1(c) The corporation authority may only award grants under this section if the
2person that caused the environmental contamination that is the basis for the grant
3request is unknown, cannot be located or is financially unable to pay the cost of the
4eligible activities.
SB21,1477,85 (d) The corporation authority shall establish criteria as necessary to
6administer the program. The corporation authority may limit the total amount of
7funds that may be used to cover the costs of each category of eligible activity
8described in sub. (3).
SB21,1477,10 9(3) Eligible activities. (intro.) The corporation authority may award grants
10to local governmental units to cover the costs of the following activities:
SB21,1477,13 11(4) Application for grant. The applicant shall submit an application on a form
12prescribed by the corporation authority and shall include any information that the
13corporation authority finds necessary to calculate the amount of a grant.
SB21,1477,15 14(5) Grant criteria. (intro.) The corporation authority shall consider the
15following criteria when determining whether to award a grant:
SB21,1477,1716 (c) Other criteria that the corporation authority finds necessary to calculate the
17amount of a grant.
SB21,1477,21 18(6) Limitation of grant. The total amount of all grants awarded to a local
19governmental unit in a fiscal year under this section shall be limited to an amount
20equal to 15% of the available funds appropriated under s. 20.192 (1) 20.885 (3) (s) for
21the fiscal year.
SB21,1477,24 22(7) Matching funds. The corporation authority may not distribute a grant
23unless the applicant contributes matching funds equal to 20% of the grant. Matching
24funds may be in the form of cash or in-kind contribution or both.
SB21,3979
1Section 3979. 238.135 of the statutes is renumbered 235.135 and amended to
2read:
SB21,1478,7 3235.135 Grants to regional economic development organizations. The
4corporation authority shall award annual grants to regional economic development
5organizations to fund marketing activities. The amount of each grant may not exceed
6$100,000 or the amount of matching funds the organization obtains from sources
7other than the corporation authority or the state, whichever is less.
SB21,3980 8Section 3980 . 238.15 of the statutes, as affected by 2015 Wisconsin Act .... (this
9act), is renumbered 235.15, and 235.15 (1) (intro.) and (m) 1. (intro.) and c., (2) and
10(3) (a), (b), (d) (intro.), 1. and 2. a. and b., (dm) and (e), as renumbered, are amended
11to read:
SB21,1478,2012 235.15 (1) Angel investment tax credits. (intro.) The corporation authority
13shall implement a program to certify businesses for purposes of s. 71.07 (5d). A
14business desiring certification shall submit an application to the corporation
15authority in each taxable year for which the business desires certification. The
16business shall specify in its application the investment amount it wishes to raise and
17the corporation authority may certify the business and determine the amount that
18qualifies for purposes of s. 71.07 (5d). Except as provided in policies and procedures
19under sub. (3) (dm), the corporation authority may certify or recertify a business for
20purposes of s. 71.07 (5d) only if the business satisfies all of the following conditions:
SB21,1479,321 (m) 1. (intro.) It agrees that it will not relocate outside of this state during the
223 years after it receives an investment for which a person may claim a tax credit
23under s. 71.07 (5d) and agrees to pay the corporation authority a penalty, in an
24amount determined under subd. 2., if the business relocates outside of this state
25during that 3-year period. For the purposes of this paragraph, except as provided

1in policies and procedures under sub. (3) (dm), a business relocates outside of this
2state when the business locates more than 51 percent of any of the following outside
3of this state:
SB21,1479,54 c. The activities of the business's headquarters, as determined by the
5corporation authority.
SB21,1479,19 6(2) Early stage seed investment tax credits. The corporation authority shall
7implement a program to certify investment fund managers for purposes of ss. 71.07
8(5b), 71.28 (5b), 71.47 (5b), and 76.638. An investment fund manager desiring
9certification shall submit an application to the corporation authority. The
10investment fund manager shall specify in the application the investment amount
11that the manager wishes to raise and the corporation authority may certify the
12manager and determine the amount that qualifies for purposes of ss. 71.07 (5b),
1371.28 (5b), 71.47 (5b), and 76.638. In determining whether to certify an investment
14fund manager, the corporation authority shall consider the investment fund
15manager's experience in managing venture capital funds, the past performance of
16investment funds managed by the applicant, the expected level of investment in the
17investment fund to be managed by the applicant, and any other relevant factors. The
18corporation authority may certify only investment fund managers that commit to
19consider placing investments in businesses certified under sub. (1).
SB21,1479,23 20(3) (a) List of certified businesses and investment fund managers. The
21corporation authority shall maintain a list of businesses certified under sub. (1) and
22investment fund managers certified under sub. (2) and shall permit public access to
23the lists through the corporation's authority's Internet Web site.
SB21,1480,3
1(b) Notification of department of revenue. The corporation authority shall
2notify the department of revenue of every certification issued under subs. (1) and (2)
3and the date on which any such certification is revoked or expires.
SB21,1481,104 (d) Rules Administration. (intro.) The corporation authority, in consultation
5with the department of revenue, shall adopt rules establish policies and procedures
6to administer this section. The rules and shall further define "bona fide angel
7investment" for purposes of s. 71.07 (5d) (a) 1. The rules shall limit the aggregate
8amount of tax credits under s. 71.07 (5d) that may be claimed for investments in
9businesses certified under sub. (1) at $3,000,000 per calendar year for calendar years
10beginning after December 31, 2004, and before January 1, 2008, $5,500,000 per
11calendar year for calendar years beginning after December 31, 2007, and before
12January 1, 2010, $6,500,000 for calendar year 2010, and $20,000,000 per calendar
13year for calendar years beginning after December 31, 2010, plus, for taxable years
14beginning after December 31, 2010, an additional $250,000 for tax credits that may
15be claimed for investments in nanotechnology businesses certified under sub. (1).
16The rules shall also limit the aggregate amount
and of the tax credits under ss. 71.07
17(5b), 71.28 (5b), 71.47 (5b), and 76.638 that may be claimed for investments paid to
18fund managers certified under sub. (2) at $3,500,000 per calendar year for calendar
19years beginning after December 31, 2004, and before January 1, 2008, $6,000,000 per
20calendar year for calendar years beginning after December 31, 2007, and before
21January 1, 2010, $8,000,000 for calendar year 2010, and $20,500,000
is $30,000,000
22per calendar year for calendar years beginning after December 31, 2010, plus, for
23taxable years beginning after December 31, 2010, an additional $250,000 for tax
24credits that may be claimed for investments in nanotechnology businesses certified
25under sub. (1)
. The rules policies and procedures shall also provide that, for calendar

1years beginning after December 31, 2007,
a person who receives a credit under ss.
2s. 71.07 (5b) and or (5d), 71.28 (5b), 71.47 (5b), or 76.638 must keep the investment
3in a certified business, or with a certified fund manager, for no less than 3 years,
4unless the person's investment becomes worthless, as determined by the corporation
5authority, during the 3-year period or the person has kept the investment for no less
6than 12 months and a bona fide liquidity event, as determined by the corporation
7authority, occurs during the 3-year period. The rules policies and procedures shall
8permit the corporation authority to reallocate credits under this section that are
9unused in any calendar year to a person eligible for tax benefits, as defined under s.
10238.16 235.16 (1) (d), if all of the following apply:
SB21,1481,1211 1. The corporation authority notifies the joint committee on finance in writing
12of its proposed reallocation.
SB21,1481,1613 2. a. The cochairpersons of the joint committee on finance fail to notify the
14corporation authority, within 14 working days after the date of the corporation's
15authority's notification under subd. 1., that the committee has scheduled a meeting
16for the purpose of reviewing the proposed reallocation.
SB21,1481,1817 b. The cochairpersons of the joint committee on finance notify the corporation
18authority that the committee has approved the proposed reallocation.
SB21,1481,2519 (dm) The corporation's authority's policies and procedures under this
20subsection shall permit the corporation authority to waive one or more of the
21requirements under sub. (1) (a), (b), (h), and (m) 1. based on standards the
22corporation authority establishes in the policies and procedures. The corporation
23authority may not waive a requirement under sub. (1) (a), (b), (h), or (m) 1. unless
24the board approves the standards in the policies and procedures and the waiver
25complies with those standards.
SB21,1482,13
1(e) Transfer. A person who is eligible to claim a credit under s. 71.07 (5b), 71.28
2(5b), 71.47 (5b) or (5d), or 76.638 may sell or otherwise transfer the credit to another
3person who is subject to the taxes or fees imposed under s. 71.02, 71.23, 71.47, or
4subch. III of ch. 76, if the person was certified to claim the credit after December 31,
52014 and if the person receives prior authorization from the investment fund
6manager, for a credit under s. 71.07 (5b), 71.28 (5b), 71.47 (5b), or 76.638, and the
7investment fund manager, or the claimant under s. 71.07 (5d) for the sale or other
8transfer of a credit under s. 71.07 (5d), notifies the corporation authority and the
9department of revenue of the transfer and submits with the notification a copy of the
10transfer documents. No person may sell or otherwise transfer a credit as provided
11in this paragraph more than once in a 12-month period. The corporation authority
12may charge any person selling or otherwise transferring a credit under this
13paragraph a fee equal to 5 percent of the credit amount sold or transferred.
SB21,3981 14Section 3981. 238.15 (1) (intro.) of the statutes is amended to read:
SB21,1482,2315 238.15 (1) Angel investment tax credits. (intro.) The corporation shall
16implement a program to certify businesses for purposes of s. 71.07 (5d). A business
17desiring certification shall submit an application to the corporation in each taxable
18year for which the business desires certification. The business shall specify in its
19application the investment amount it wishes to raise and the corporation may certify
20the business and determine the amount that qualifies for purposes of s. 71.07 (5d).
21The Except as provided in policies and procedures under sub. (3) (dm), the
22corporation may certify or recertify a business for purposes of s. 71.07 (5d) only if the
23business satisfies all of the following conditions:
SB21,3982 24Section 3982. 238.15 (1) (f) 1. b. of the statutes is amended to read:
SB21,1483,5
1238.15 (1) (f) 1. b. Processing or assembling products, including medical
2devices, pharmaceuticals, computer software, computer hardware, semiconductors,
3any other innovative technology products, or other products that are produced using
4manufacturing methods that are enabled by applying proprietary differentiating
5technology.
SB21,3983 6Section 3983. 238.15 (1) (f) 1. c. of the statutes is amended to read:
SB21,1483,87 238.15 (1) (f) 1. c. Services that are enabled by applying proprietary
8differentiating technology.
SB21,3984 9Section 3984. 238.15 (1) (f) 2. of the statutes is amended to read:
SB21,1483,1310 238.15 (1) (f) 2. It is undertaking pre-commercialization activity related to
11proprietary differentiating technology that includes conducting research,
12developing a new product or business process, or developing a service that is
13principally reliant on applying proprietary differentiating technology.
SB21,3985 14Section 3985. 238.15 (1) (f) 3. of the statutes is created to read:
SB21,1483,1615 238.15 (1) (f) 3. It is a technology-based physician and health care consulting
16business.
SB21,3986 17Section 3986. 238.15 (1) (f) 4. of the statutes is created to read:
SB21,1483,1918 238.15 (1) (f) 4. It is a retailer for whom at least 51 percent of its annual sales
19originate on the Internet.
SB21,3987 20Section 3987. 238.15 (1) (g) of the statutes is amended to read:
SB21,1484,321 238.15 (1) (g) It is not primarily engaged in real estate development,;
22insurance,; banking,; lending,; lobbying, ; political consulting,; professional services
23provided by attorneys, accountants, business consultants, physicians, or health care
24consultants, except technology-based physician or health care consultants;
25wholesale or retail trade, except retailers for whom at least 51 percent of annual

1income originates on the Internet;
leisure, ; hospitality,; transportation,; or
2construction, except construction of power production plants that derive energy from
3a renewable resource, as defined in s. 196.378 (1) (h).
SB21,3988 4Section 3988. 238.15 (1) (L) of the statutes is amended to read:
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