Amendment SA7-SB453

LRBa1678/1

TKK:kjf:nwn

2007 - 2008 LEGISLATURE

SENATE AMENDMENT 7, TO 2007 SENATE BILL 453

March 12, 2008 - Offered by Senator Roessler.

SB453-SA7,1,1 At the locations indicated, amend the bill as follows:

SB453-SA7,1,2 1. Page 1, line 3: before that line insert:

SB453-SA7,1,3 " Section 1g. 560.7995 (2) (e) of the statutes is created to read:

SB453-SA7,1,6 560.7995 (2) (e) Notwithstanding pars. (a) to (c), the department shall designate as an airport development zone the area within the boundaries of Fond du Lac and Winnebago counties.".

SB453-SA7,1,7 2. Page 1, line 3: delete " Section 1" and substitute "Section 1m".

SB453-SA7,1,10 3. Page 2, line 1: after "airport development zone" insert ", except that the department shall limit the amount of tax benefits applicable to the airport development zone designated under sub. (2) (e) to $250,000".

SB453-SA7,1,11 4. Page 2, line 7: after that line insert:

SB453-SA7,1,12 " Section 1s. 560.7995 (4) (ar) of the statutes is created to read:

SB453-SA7,2,6 560.7995 (4) (ar) A person that intends to operate a business in the airport development zone designated under sub. (2) (e) may submit to the department an application and a business plan that includes all of the information required under par. (a). In approving business plans submitted under this paragraph, the department shall give higher priority to airport development projects located or proposed to be located in a distressed area, as defined in s. 560.605 (7) (b).

SB453-SA7, s. 1y Section 1y. 560.7995 (4) (b) of the statutes is amended to read:

SB453-SA7,2,11 560.7995 (4) (b) If the department approves a business plan under par. (a) or (ar), the department shall certify the person as eligible for tax benefits. The department shall notify the department of revenue within 30 days of certifying a person under this paragraph.".

SB453-SA7,2,12 (End)