Amendment SA2-SB122

LRBa0718/1

PJK:jrd:km

1995 - 1996 LEGISLATURE

SENATE AMENDMENT 2, To 1995 SENATE BILL 122

April 4, 1995 - Offered by Senator Adelman.

SB122-SA2,1,1 At the locations indicated, amend the bill as follows:

SB122-SA2,1,3 1. Page 1, line 4: delete "establishing" and substitute: "authorizing the designation of".

SB122-SA2,1,4 2. Page 2, line 8: on lines 8 and 17, delete "(2) (a)".

SB122-SA2,1,5 3. Page 3, line 5: on lines 5, 14 and 23, delete "(2) (a)".

SB122-SA2,1,6 4. Page 3, line 25: delete that line.

SB122-SA2,1,7 5. Page 4, line 1: delete lines 1 and 2 and substitute:

SB122-SA2,1,9 " Section 6c. 560.795 (1) (intro.) of the statutes is renumbered 560.795 (1) (a) (intro.) and amended to read:

SB122-SA2,1,11 560.795 (1) (a)  (intro.) The On April 23, 1994, the following areas are designated as development opportunity zones:

SB122-SA2, s. 6f Section 6f. 560.795 (1) (a) of the statutes is renumbered 560.795 (1) (a) 1.

SB122-SA2, s. 6m Section 6m. 560.795 (1) (b) of the statutes is renumbered 560.795 (1) (a) 2.

SB122-SA2, s. 6r Section 6r. 560.795 (1) (b) and (c) of the statutes is created to read:

SB122-SA2,2,4 560.795 (1) (b) On or after the effective date of this paragraph .... [revisor inserts date], the department may designate as a development opportunity zone an area in the city of Eau Claire, the legal description of which is provided to the department by the local governing body of the city of Eau Claire.

SB122-SA2,2,6 (c) In designating an area as a development opportunity zone under par. (b), the department shall consider all of the following:

SB122-SA2,2,7 1. Whether the area has high unemployment.

SB122-SA2,2,8 2. Whether the area has a low median household income.

SB122-SA2,2,10 3. Whether there is a high percentage of households in the area receiving aid to families with dependent children under s. 49.19.

SB122-SA2,2,11 4. Whether there has been a significant decline in the population in the area.

SB122-SA2,2,12 5. Whether property values in the area have been declining.

SB122-SA2,2,16 6. Whether a significant number of workers in the area have been permanently laid off by their employers or whether public notice has been given by an employer of either a plant closing or a substantial reduction in work force that will result in a significant number of workers in the area being laid off permanently.

SB122-SA2,2,17 7. Whether the area is designated as a development zone under s. 560.71.".

SB122-SA2,2,18 6. Page 4, line 6: delete " and (b)"; and delete ", and" and substitute a period.

SB122-SA2,2,19 7. Page 4, line 7: delete lines 7 and 8.

SB122-SA2,2,20 8. Page 4, line 11: after "(a)" insert "1.".

SB122-SA2,2,21 9. Page 4, line 11: after that line insert:

SB122-SA2,2,22 " Section 8m. 560.795 (2) (b) 2. of the statutes is amended to read:

SB122-SA2,2,24 560.795 (2) (b) 2. The limit for tax benefits for the development opportunity zone under sub. (1) (b) (a) 2. is $3,000,000.".

SB122-SA2,3,1 10. Page 4, line 13: substitute "a" for "the".

SB122-SA2,3,3 11. Page 4, line 14: after "zone" insert "that the department designates"; and substitute "(b)" for "(c)".

SB122-SA2,3,4 12. Page 4, line 18: delete "or (b)".

SB122-SA2,3,5 13. Page 4, line 25: substitute "(b)" for "(c)".

SB122-SA2,3,8 14. Page 5, line 3: delete that line and substitute: "ment no later than 6 months after the effective date of the development opportunity zone designation of the area in which the claimant conducts economic activity".

SB122-SA2,3,9 15. Page 5, line 4: delete "inserts date],".

SB122-SA2,3,10 (End)