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:
SB21,1484,85 238.15 (1) (L) For taxable years beginning after December 31, 2010 and before
6January 1, 2015
, it has not received more than $8,000,000 in investments that have
7qualified for tax credits under ss. 71.07 (5b) and (5d), 71.28 (5b), 71.47 (5b), and
876.638.
SB21,3989 9Section 3989. 238.15 (1) (Lg) of the statutes is created to read:
SB21,1484,1210 238.15 (1) (Lg) For taxable years beginning after December 31, 2014, it has not
11received more than $12,000,000 in investments that have qualified for tax credits
12under ss. 71.07 (5b) and (5d), 71.28 (5b), 71.47 (5b), and 76.638.
SB21,3990 13Section 3990. 238.15 (1) (m) 1. (intro.) of the statutes is amended to read:
SB21,1484,2014 238.15 (1) (m) 1. (intro.) It agrees that it will not relocate outside of this state
15during the 3 years after it receives an investment for which a person may claim a tax
16credit under s. 71.07 (5d) and agrees to pay the corporation a penalty, in an amount
17determined under subd. 2., if the business relocates outside of this state during that
183-year period. For the purposes of this paragraph, except as provided in policies and
19procedures under sub. (3) (dm),
a business relocates outside of this state when the
20business locates more than 51 percent of any of the following outside of this state:
SB21,3991 21Section 3991. 238.15 (1) (m) 3. of the statutes is created to read:
SB21,1484,2522 238.15 (1) (m) 3. Subdivision 1. does not apply to a business that the
23corporation certified for purposes of s. 71.07 (5d) before April 20, 2012, and that, in
24reliance on that certification, executed a note or bond that is convertible to an equity
25interest.
SB21,3992
1Section 3992. 238.15 (3) (dm) of the statutes is created to read:
SB21,1485,72 238.15 (3) (dm) The corporation's policies and procedures under this subsection
3shall permit the corporation to waive one or more of the requirements under sub. (1)
4(a), (b), (h), and (m) 1. based on standards the corporation establishes in the policies
5and procedures. The corporation may not waive a requirement under sub. (1) (a), (b),
6(h), or (m) 1. unless the board approves the standards in the policies and procedures
7and the waiver complies with those standards.
SB21,3993 8Section 3993. 238.15 (3) (e) of the statutes is amended to read:
SB21,1485,219 238.15 (3) (e) Transfer. A person who is eligible to claim a credit under s. 71.07
10(5b) or (5d), 71.28 (5b), 71.47 (5b), or 76.638 may sell or otherwise transfer the credit
11to another person who is subject to the taxes or fees imposed under s. 71.02, 71.23,
1271.47, or subch. III of ch. 76, if the person was certified to claim the credit after
13December 31, 2014 and if
the person receives prior authorization from the
14investment fund manager, for a credit under s. 71.07 (5b), 71.28 (5b), 71.47 (5b), or
1576.638,
and the investment fund manager then, or the claimant under s. 71.07 (5d)
16for the sale or other transfer of a credit under s. 71.07 (5d),
notifies the corporation
17and the department of revenue of the transfer and submits with the notification a
18copy of the transfer documents. No person may sell or otherwise transfer a credit as
19provided in this paragraph more than once in a 12-month period. The corporation
20may charge any person selling or otherwise transferring a credit under this
21paragraph a fee equal to 1 5 percent of the credit amount sold or transferred.
SB21,3994 22Section 3994. 238.16 of the statutes, as affected by 2015 Wisconsin Act .... (this
23act), is renumbered 235.16, and 235.16 (1) (c) 2. (intro.), (2) (intro.) and (b), (3)
24(intro.), (4) (b) 1. (intro.) and 2. and (c) and (5) (title), (a), (b), (c), (d), (e) and (f) (intro.)
25and 1. (intro.), as renumbered, are amended to read:
SB21,1486,4
1235.16 (1) (c) 2. (intro.) The corporation authority may grant exceptions to the
2requirement under subd. 1. that a full-time job means a position in which an
3individual, as a condition of employment, is required to work at least 2,080 hours per
4year if all of the following apply:
SB21,1486,6 5(2) (intro.) The corporation authority may certify a person to receive tax
6benefits under this section if all of the following apply:
SB21,1486,87 (b) The person applies under this section and enters into a contract with the
8corporation authority.
SB21,1486,15 9(3) Eligibility for tax benefits. (intro.) A person certified under sub. (2) may
10receive tax benefits under this section if, in each year for which the person claims tax
11benefits under this section, the person increases net employment in this state in the
12person's business above the net employment in this state in the person's business
13during the year before the person was certified under sub. (2), as determined by the
14corporation authority under its policies and procedures, and one of the following
15applies:
SB21,1486,20 16(4) (b) 1. (intro.) The corporation authority may award to a person certified
17under sub. (2) tax benefits for each eligible employee in an amount equal to up to 10
18percent of the wages paid by the person to that employee or $10,000, whichever is
19less, if that employee earned wages in the year for which the tax benefit is claimed
20equal to one of the following:
SB21,1486,2321 2. The corporation authority may award to a person certified under sub. (2) tax
22benefits in an amount to be determined by the corporation authority for costs
23incurred by the person to undertake the training activities described in sub. (3) (c).
SB21,1487,3
1(c) Subject to a reallocation by the corporation authority pursuant to policies
2and procedures adopted under s. 238.15 235.15 (3) (d), the corporation authority may
3allocate up to $10,000,000 in tax benefits under this section in any calendar year.
SB21,1487,4 4(5) (title) Duties of the corporation authority.
SB21,1487,65 (a) The corporation authority shall notify the department of revenue when the
6corporation authority certifies a person to receive tax benefits.
SB21,1487,87 (b) The corporation authority shall notify the department of revenue within 30
8days of revoking a certification made under sub. (2).
SB21,1487,119 (c) The corporation authority may require a person to repay any tax benefits
10the person claims for a year in which the person failed to maintain employment
11required by an agreement under sub. (2) (b).
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