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1. The auditor no longer satisfies a requirement under par. (a) 1. or 5.
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2. The auditor violates s. 73.03 (78) (b) or any rules related to the conduct of
20audits required under s. 73.03 (78) (a) 2.
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(c) The department shall do all of the following:
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1. Establish a fee for granting certifications under par. (a).
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2. Publish and regularly update a list of all auditors certified under par. (a).
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3. Publish on its website all of the following:
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a. The application for certification under par. (a).
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1b. The requirements for certification under par. (a).
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c. The requirements for audits under s. 73.03 (78) (b).
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d. The amount of the fee established under subd. 1.
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4Section
14. 73.03 (78) of the statutes is created to read:
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73.03
(78) (a) To implement a program to approve applications for a certificate
6for purposes of ss. 71.07 (11), 71.28 (11), and 71.47 (11). Application shall be made
7to the department in each taxable year for which a certificate is desired. The
8department may not approve an application unless all of the following apply:
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1. The department determines that the applicant's qualified activities, as
10defined in s. 71.47 (11) (a) 6., will result in eligible expenditures, as defined in s. 71.47
11(11) (a) 4., in excess of $25,000 for the taxable year.
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2. The department, or an auditor certified by the department under s. 71.748,
13conducts an audit of the applicant. The department shall review an audit conducted
14by an auditor certified under s. 71.748 and shall conduct any additional audit
15necessary and make necessary adjustments.
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3. The applicant reimburses the department for the cost of the audit conducted
17under subd. 2.
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(b) 1. In conducting an audit required under par. (a) 2., the department or
19auditor certified by the department under s. 71.748 shall do all of the following:
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a. Comply with any rules promulgated under par. (d).
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b. Use any sampling methods adopted by the department.
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c. Verify each reported expenditure that is included in the audit and identify
23and exclude each expenditure that does not satisfy the requirements under s. 71.07
24(11), 71.28 (11), or 71.47 (11).
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12. No audit of an applicant required under par. (a) 2. may be performed by an
2auditor that is part of an accounting entity that is not determined by the department
3to be independent of the applicant, consistent with s. 442.10 and as provided in the
4code of professional conduct of the American Institute of Certified Public
5Accountants, or its successor organization, or as otherwise determined by the
6department.
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3. The department shall determine whether a sampling method is required for
8audits required under par. (a) 2., and if a sampling method is required, an
9appropriate sample method and size that accurately captures a truly representative
10sample of all expenditures for which a credit is claimed under s. 71.07 (11), 71.28 (11),
11or 71.47 (11).
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4. The department shall conduct an audit required under par. (a) 2. when no
13eligible auditor is able to access information necessary to conduct the audit because
14the information is confidential and the department is able to access the confidential
15information.
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(c) At least once every 2 years, beginning not later than December 31, 2025, the
17department shall submit a report to the governor and the standing committees of the
18legislature with jurisdiction over taxation under s. 13.172 (3) that includes all of the
19following:
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1. The number of applications approved under this subsection.
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2. The amount of the credits claimed under ss. 71.07 (11), 71.28 (11), and 71.47
22(11).
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3. The number of people employed in this state in the industries eligible for the
24credits under ss. 71.07 (11), 71.28 (11), and 71.47 (11).
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14. The economic impact of the credits under ss. 71.07 (11), 71.28 (11), and 71.47
2(11).
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5. The community impact of the industries eligible for the credits under ss.
471.07 (11), 71.28 (11), and 71.47 (11) in this state.
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(d) The department shall promulgate rules to administer this subsection.
