Amendment ASA1-SB55

SB55-ASA1, s. 1965 Section 1965. 560.70 (7) of the statutes is renumbered 560.70 (7) (a) and amended to read:

SB55-ASA1,1174,3 560.70 (7) (a) "Tax Except as provided in par. (b), "tax benefits" means the development zones credit under ss. 71.07 (2dx), 71.28 (1dx), and 71.47 (1dx), except that in.

SB55-ASA1,1174,8 (b) In s. 560.795, "tax benefits" means the development zones investment credit under ss. 71.07 (2di), 71.28 (1di), and 71.47 (1di) and the development zones credit under ss. 71.07 (2dx), 71.28 (1dx), and 71.47 (1dx). With respect to the development opportunity zone under s. 560.795 (1) (e), "tax benefits" also means the development zones capital investment credit under ss. 71.07 (2dm), 71.28 (1dm), and 71.47 (1dm).

SB55-ASA1, s. 1966 Section 1966. 560.795 (1) (e) of the statutes is created to read:

SB55-ASA1,1174,11 560.795 (1) (e) An area in the city of Milwaukee, the legal description of which is provided to the department by the local governing body of the city of Milwaukee.

SB55-ASA1, s. 1967 Section 1967. 560.795 (2) (a) of the statutes is amended to read:

SB55-ASA1,1174,21 560.795 (2) (a) Except as provided in par. (d), the designation of each area under sub. (1) (a), (b) and (c), and (e) as a development opportunity zone shall be effective for 36 months, with the designation of the areas under sub. (1) (a) and (b) beginning on April 23, 1994, and the designation of the area under sub. (1) (c) beginning on April 28, 1995. Except as provided in par. (d), the designation of the each area under sub. (1) (d) and (e) as a development opportunity zone shall be effective for 84 months, with the designation of the area under sub. (1) (d) beginning on January 1, 2000, and the designation of the area under sub. (1) (e) beginning on the effective date of this paragraph .... [revisor inserts date].

SB55-ASA1, s. 1968 Section 1968. 560.795 (2) (b) 5. of the statutes is created to read:

SB55-ASA1,1174,24 560.795 (2) (b) 5. The limit for tax benefits for the development opportunity zone under sub. (1) (e) is $4,700,000.

SB55-ASA1, s. 1969 Section 1969. 560.795 (3) (a) 4. of the statutes is created to read:

SB55-ASA1,1175,6 560.795 (3) (a) 4. Any corporation that is conducting or that intends to conduct economic activity in a development opportunity zone under sub. (1) (e) and that, in conjunction with the local governing body of the city in which the development opportunity zone is located, submits a project plan as described in par. (b) to the department shall be entitled to claim tax benefits while the area is designated as a development opportunity zone.

SB55-ASA1, s. 1970 Section 1970. 560.795 (3) (c) of the statutes is amended to read:

SB55-ASA1,1175,9 560.795 (3) (c) The department shall notify the department of revenue of all corporations entitled to claim tax benefits under this section subsection.

SB55-ASA1, s. 1971 Section 1971. 560.795 (3) (d) of the statutes is amended to read:

SB55-ASA1,1175,13 560.795 (3) (d) The department annually shall verify information submitted to the department under s. 71.07 (2di), (2dm), or (2dx), 71.28 (1di), (1dm), or (1dx), or 71.47 (1di), (1dm), or (1dx).

SB55-ASA1, s. 1972 Section 1972. 560.795 (4) (a) (intro.) of the statutes is amended to read:

SB55-ASA1,1175,17 560.795 (4) (a) (intro.) The department shall revoke the entitlement of a corporation to claim tax benefits under this section sub. (3) if the corporation does any of the following:

SB55-ASA1, s. 1973 Section 1973. 560.795 (5) of the statutes is created to read:

SB55-ASA1,1175,22 560.795 (5) Certification based on the activity of another. (a) The department may certify for tax benefits a person that is conducting economic activity in the development opportunity zone under sub. (1) (e) and that is not otherwise entitled to claim tax benefits if all of the following apply:

SB55-ASA1,1175,24 1. The person's economic activity is instrumental in enabling another person to conduct economic activity in the development opportunity zone under sub. (1) (e).

SB55-ASA1,1176,3 2. The department determines that the economic activity of the other person under subd. 1. would not have occurred but for the involvement of the person to be certified for tax benefits under this subsection.

SB55-ASA1,1176,6 3. The person to be certified for tax benefits under this subsection will pass the benefits through to the other person conducting the economic activity under subd. 1., as determined by the department.

SB55-ASA1,1176,8 4. The other person conducting the economic activity under subd. 1. does not claim tax benefits under sub. (3).

SB55-ASA1,1176,11 (b) A person intending to claim tax benefits under this subsection shall submit to the department an application, in the form required by the department, containing information required by the department and by the department of revenue.

SB55-ASA1,1176,13 (c) The department shall notify the department of revenue of all persons certified to claim tax benefits under this subsection.

SB55-ASA1,1176,16 (d) The department annually shall verify information submitted to the department under s. 71.07 (2dm) or (2dx), 71.28 (1dm) or (1dx), or 71.47 (1dm) or (1dx).

SB55-ASA1,1176,18 (e) The department shall revoke the entitlement of a person to claim tax benefits under this subsection if the person does any of the following:

SB55-ASA1,1176,19 1. Supplies false or misleading information to obtain the tax benefits.

SB55-ASA1,1176,20 2. Ceases operations in the development opportunity zone under sub. (1) (e).

SB55-ASA1,1176,22 3. Does not pass the benefits through to the other person conducting the economic activity under par. (a) 1., as determined by the department.

SB55-ASA1,1176,24 (f) The department shall notify the department of revenue within 30 days after revoking an entitlement under par. (e).

SB55-ASA1, s. 1974 Section 1974. 560.80 (4) (a) and (b) of the statutes are consolidated, renumbered 560.80 (4) and amended to read:

SB55-ASA1,1177,8 560.80 (4) "Eligible development project costs" means costs that, in accordance with sound business and financial practices, are appropriately incurred in connection with a development project or a recycling development project . (b) "Eligible development project costs", but does not include entertainment expenses or expenses incurred more than 6 months before the board approves a grant or loan under s. 560.83 or 560.835.

SB55-ASA1, s. 1975 Section 1975. 560.80 (5) of the statutes is amended to read:

SB55-ASA1,1177,12 560.80 (5) "Eligible recipient" means a person who is eligible to receive a grant under s. 560.82 (5) (a) or 560.837 or a grant or loan under s. 560.83 (5) (a) or (b) or 560.835.

SB55-ASA1, s. 1976 Section 1976. 560.82 (5) of the statutes is renumbered 560.82 (5) (a).

SB55-ASA1, s. 1977 Section 1977. 560.82 (5) (b) of the statutes is created to read:

SB55-ASA1,1177,17 560.82 (5) (b) If the department awards a grant under sub. (1), the department may contract directly with and pay grant proceeds directly to any person providing technical or management assistance to the grant recipient.

SB55-ASA1, s. 1978 Section 1978. 560.96 of the statutes is created to read:

SB55-ASA1,1177,20 560.96 Technology zones. (1) In this section, "tax credit" means a credit under s. 71.07 (3g), 71.28 (3g), or 71.47 (3g).

SB55-ASA1,1177,25 (2) (a) The department may designate up to 3 areas in the state as technology zones and may, with the approval of the joint committee on finance, designate up to 6 more areas as technology zones. A business that is located in a technology zone and that is certified by the department under sub. (3) is eligible for a tax credit as provided in sub. (3).

SB55-ASA1,1178,7 (b) The designation of an area as a technology zone shall be in effect for 10 years from the time that the department first designates the area. However, not more than $3,000,000 in tax credits may be claimed in a technology zone. The department may change the boundaries of a technology zone during the time that its designation is in effect. A change in the boundaries of a technology zone does not affect the duration of the designation of the area or the maximum tax credit amount that may be claimed in the technology zone.

SB55-ASA1,1178,9 (3) (a) The department may certify for tax credits in a technology zone a business that satisfies all of the following requirements:

SB55-ASA1,1178,10 1. The business is located in the technology zone.

SB55-ASA1,1178,11 2. The business is a new or expanding business.

SB55-ASA1,1178,12 3. The business is a high-technology business.

SB55-ASA1,1178,14 (b) In determining whether to certify a business under this subsection, the department shall consider all of the following:

SB55-ASA1,1178,15 1. How many new jobs the business is likely to create.

SB55-ASA1,1178,16 2. The extent and nature of the high technology used by the business.

SB55-ASA1,1178,17 3. The likelihood that the business will attract related enterprises.

SB55-ASA1,1178,19 4. The amount of capital investment that the business is likely to make in the state.

SB55-ASA1,1178,20 5. The economic viability of the business.

SB55-ASA1,1179,2 (c) When the department certifies a business under this subsection, the department shall establish a limit on the amount of tax credits that the business may claim. Unless its certification is revoked, and subject to the limit on the tax credit amount established by the department under this paragraph, a business that is certified may claim a tax credit for 3 years, except that a business that experiences growth, as determined for that business by the department under par. (d) and sub. (5) (e), may claim a tax credit for up to 5 years.

SB55-ASA1,1179,9 (d) The department shall enter into an agreement with a business that is certified under this subsection. The agreement shall specify the limit on the amount of tax credits that the business may claim, the extent and type of growth, which shall be specific to the business, that the business must experience to extend its eligibility for a tax credit, the business' baseline against which that growth will be measured, any other conditions that the business must satisfy to extend its eligibility for a tax credit, and reporting requirements with which the business must comply.

SB55-ASA1,1179,11 (4) (a) The department of commerce shall notify the department of revenue of all the following:

SB55-ASA1,1179,12 1. A technology zone's designation.

SB55-ASA1,1179,14 2. A business' certification and the limit on the amount of tax credits that the business may claim.

SB55-ASA1,1179,15 3. The extension or revocation of a business' certification.

SB55-ASA1,1179,17 (b) The department shall annually verify information submitted to the department under ss. 71.07 (3g) (b), 71.28 (3g) (b), and 71.47 (3g) (b).

SB55-ASA1,1179,19 (5) The department shall promulgate rules for the operation of this section, including rules related to all the following:

SB55-ASA1,1179,20 (a) Criteria for designating an area as a technology zone.

SB55-ASA1,1179,22 (b) A business' eligibility for certification, including definitions for all of the following:

SB55-ASA1,1179,23 1. New or expanding business.

SB55-ASA1,1179,24 2. High-technology business.

SB55-ASA1,1179,25 (c) Certifying a business, including use of the factors under sub. (3) (b).

SB55-ASA1,1180,2 (d) Standards for establishing the limit on the amount of tax credits that a business may claim.

SB55-ASA1,1180,6 (e) Standards for extending a business' certification, including what measures, in addition to job creation, the department will use to determine the growth of a specific business and how the department will establish baselines against which to measure growth.

SB55-ASA1,1180,7 (f) Reporting requirements for certified businesses.

SB55-ASA1,1180,9 (g) The exchange of information between the department of commerce and the department of revenue.

SB55-ASA1,1180,10 (h) Reasons for revoking a business' certification.

SB55-ASA1,1180,11 (i) Standards for changing the boundaries of a technology zone.

SB55-ASA1, s. 3713c Section 3713c. 562.057 (4m) (a) 1. of the statutes is renumbered 562.057 (4m) (a) and amended to read:

SB55-ASA1,1180,17 562.057 (4m) (a) For a racetrack at which $25,000,000 or more was wagered during During the calendar year immediately preceding the year in which the applicant proposes to conduct wagering on simulcast races, at least 250 275 race performances were conducted at the racetrack during that period.

SB55-ASA1, s. 3713d Section 3713d. 562.057 (4m) (a) 2. of the statutes is repealed.

SB55-ASA1, s. 3713e Section 3713e. 562.057 (4m) (b) of the statutes is repealed.

SB55-ASA1, s. 3713k Section 3713k. 563.04 (14) of the statutes is created to read:

SB55-ASA1,1180,22 563.04 (14) Promulgate rules relating to the sale of equal shares of single raffle tickets to one or more purchasers under a Class A raffle license under s. 563.92 (1m).

SB55-ASA1, s. 3713kg Section 3713kg. 563.92 (1m) of the statutes is amended to read:

SB55-ASA1,1181,4 563.92 (1m) The department may issue a Class A license for the conduct of a raffle in which some or all of the tickets for that raffle are sold on days other than the same day as the raffle drawing and in which equal shares of a single ticket may be sold to one or more purchasers. The department may issue a Class B license for the conduct of a raffle in which all of the tickets for that raffle are sold on the same day as the raffle drawing.

SB55-ASA1, s. 3713km Section 3713km. 563.93 (2) of the statutes is amended to read:

SB55-ASA1,1181,6 563.93 (2) No raffle ticket may exceed $50 $100 in cost.

SB55-ASA1, s. 3713kp Section 3713kp. 563.93 (9) of the statutes is created to read:

SB55-ASA1,1181,10 563.93 (9) If a person who holds a Class A license sells equal shares of a single ticket to one or more purchasers, the person shall, prior to the raffle drawing for which the shares were sold, purchase any shares of the ticket that have not been sold.

SB55-ASA1, s. 3733r Section 3733r. 601.41 (1) of the statutes is amended to read:

SB55-ASA1,1181,15 601.41 (1) Duties. The commissioner shall administer and enforce chs. 600 to 655 and ss. 59.52 (11) (c), 66.0137 (4) and (4m), 120.13 (2) (b) to (g), 149.13 and 149.144 and shall act as promptly as possible under the circumstances on all matters placed before the commissioner.

SB55-ASA1, s. 1979 Section 1979. 601.47 (2) of the statutes is amended to read:

SB55-ASA1,1181,21 601.47 (2) Annual report. The commissioner shall determine the form for and have printed the report required in s. 601.46 (3), in number sufficient and shall have the report published in sufficient quantity to meet all requests for copies. The commissioner shall distribute copies upon request to any person who pays the reasonable price thereof determined for the report under sub. (1).

SB55-ASA1, s. 1980 Section 1980. 614.80 of the statutes is amended to read:

SB55-ASA1,1182,3 614.80 Tax exemption. Every domestic and nondomestic fraternal, except those that offer a health maintenance organization as defined in s. 609.01 (2) or a limited service health organization as defined in s. 609.01 (3) is exempt from all state, county, district, municipal and school taxes or fees, except the fees required by s. 601.31 (2), but is required to pay all taxes and special assessments on its real estate and office equipment, except as provided in ss. 70.11 (4) and 70.1105 (1).