AB75-ASA1,1577,1614 (d) The department shall determine the maximum amount of the tax credits
15under ss. 71.07 (3q), 71.28 (3q), and 71.47 (3q) that a certified business may claim
16and shall notify the department of revenue of this amount.
AB75-ASA1,1577,1917 (e) The department shall annually verify the information submitted to the
18department by the person claiming tax benefits under ss. 71.07 (3q), 71.28 (3q), and
1971.47 (3q).
AB75-ASA1,1577,2120 (f) The department shall promulgate rules for the implementation and
21operation of this section, including rules relating to the following:
AB75-ASA1,1577,2422 1. The definitions of a tier I county or municipality and a tier II county or
23municipality. The department may consider all of the following information when
24establishing the definitions required under this subdivision:
AB75-ASA1,1577,2525 a. Unemployment rate.
AB75-ASA1,1578,2
1b. Percentage of families with incomes below the poverty line established under
242 USC 9902 (2).
AB75-ASA1,1578,33 c. Median family income.
AB75-ASA1,1578,44 d. Median per capita income.
AB75-ASA1,1578,65 e. Other significant or irregular indicators of economic distress, such as a
6natural disaster or mass layoff.
AB75-ASA1,1578,87 2. A schedule of additional tax benefits for which a person who is certified under
8sub. (2) and who incurs costs related to job training under sub. (3) (c) may be eligible.
AB75-ASA1,1578,99 3. Conditions for the revocation of a certification under par. (b).
AB75-ASA1,1578,1010 4. Conditions for the repayment of tax benefits under par. (c).
AB75-ASA1, s. 3070m 11Section 3070m. 560.206 (5) of the statutes is created to read:
AB75-ASA1,1578,1312 560.206 (5) (a) The department shall annually submit to the cochairpersons of
13the joint committee on finance a report that includes all of the following:
AB75-ASA1,1578,1514 1. The number of entities receiving tax credits under ss. 71.07 (5f) and (5h),
1571.28 (5f) and (5h), and 71.47 (5f) and (5h) in the preceding year.
AB75-ASA1,1578,1816 2. The total amount of production expenditures, as defined in ss. 71.07 (5f) (a)
173., for which tax credits were claimed in the preceding year and the county and city
18or village in which the production expenditures were made.
AB75-ASA1,1578,2019 3. The number of individuals employed on each of the productions in the
20preceding year.
AB75-ASA1,1578,2321 (b) The department shall gather the information required to produce the report
22described in par. (a) using financial tracking forms and permits that are consistent
23with industry standards.
AB75-ASA1, s. 3073 24Section 3073. 560.208 of the statutes is created to read:
AB75-ASA1,1579,6
1560.208 Qualified new business ventures. (1) The department shall
2implement a program to certify qualified new business ventures for purposes of s.
371.05 (24). A business desiring certification shall submit an application to the
4department in each taxable year for which the business desires certification. Subject
5to sub. (2), a business may be certified under this subsection, and may maintain such
6certification, only if the business is engaged in one of the following:
AB75-ASA1,1579,77 (a) Developing a new product or business process.
AB75-ASA1,1579,98 (b) Manufacturing, agriculture, or processing or assembling products and
9conducting research and development.
AB75-ASA1,1579,14 10(2) The department may not certify a business under sub. (1) if the business
11is engaged in real estate development, insurance, banking, lending, lobbying,
12political consultation, professional services provided by attorneys, accountants,
13business consultants, physicians, or health care consultants, wholesale or retail
14sales, leisure, hospitality, transportation, or construction.
AB75-ASA1,1579,17 15(3) (a) The department shall maintain a list of businesses certified under sub.
16(1) and shall permit public access to the lists through the department's Internet Web
17site.
AB75-ASA1,1579,2018 (b) The department of commerce shall notify the department of revenue of
19every certification issued under sub. (1) and the date on which a certification under
20sub. (1) is revoked or expires.
AB75-ASA1, s. 3074m 21Section 3074m. 560.255 of the statutes is created to read:
AB75-ASA1,1580,2 22560.255 Grants to Wisconsin Angel Network. Annually, from the
23appropriation under s. 20.143 (1) (bk), the department shall make a grant to the
24Wisconsin Angel Network of $60,000. The department shall enter into an agreement
25with the Wisconsin Angel Network that specifies the uses for the grant proceeds and

1reporting and auditing requirements. The department shall promulgate rules
2necessary to administer this section.
AB75-ASA1, s. 3075 3Section 3075. 560.277 of the statutes is created to read:
AB75-ASA1,1580,6 4560.277 Wisconsin venture fund. (1) Definition. In this section, "eligible
5institution" means a research institution or nonprofit organization involved in
6economic development.
AB75-ASA1,1580,9 7(2) Capital connections grants. From the appropriation under s. 20.143 (1)
8(bk), the department may award a grant to an eligible institution to fund a project
9that does any of the following:
AB75-ASA1,1580,1110 (a) Expands access for Wisconsin business ventures and entrepreneurs to
11existing capital networks.
AB75-ASA1,1580,1312 (b) Creates or runs a network to connect Wisconsin business ventures and
13entrepreneurs with available capital.
AB75-ASA1,1580,1514 (c) Creates an activity, event, or strategy to connect Wisconsin business
15ventures and entrepreneurs with available capital.
AB75-ASA1,1580,21 16(3) Venture seed grants. (a) From the appropriation under s. 20.143 (1) (bk),
17the department may award a grant to an eligible institution to match funds raised
18by the institution for funding a new business or determining proof of concept and
19feasibility of a new business idea, if the department determines the award of a grant
20will increase the amount of funding for new businesses or will leverage private
21investment and facilitate the creation of jobs in this state.
AB75-ASA1,1580,2322 (b) The proceeds of a grant awarded under this subsection shall be used to
23provide funding as proposed by the institution in the institution's application.
AB75-ASA1,1580,25 24(4) Rule making. The department shall promulgate rules for the
25administration of this section.
AB75-ASA1,1581,3
1(5) The department shall establish by rule a Wisconsin venture fund advisory
2council, which shall make recommendations to the department regarding all of the
3following:
AB75-ASA1,1581,54 (a) A process by which the department, the department of financial
5institutions, and other qualified persons may review proposals.
AB75-ASA1,1581,66 (b) The maximum amount of a grant awarded under sub. (2) or (3).
AB75-ASA1,1581,97 (c) Requirements that applicants for grants under subs. (2) and (3) secure
8funding from sources other than the state to match a portion of the amount of a grant
9awarded under sub. (2) or (3).
AB75-ASA1,1581,1110 (d) Monitoring of projects funded by grants under sub. (2) or (3), including
11monitoring of job creation.
AB75-ASA1, s. 3076 12Section 3076. Subchapter II of chapter 560 [precedes 560.30] of the statutes
13is created to read:
AB75-ASA1,1581,1414 CHAPTER 560
AB75-ASA1,1581,1615 SUBCHAPTER iI
16 forward innovation fund
AB75-ASA1, s. 3077 17Section 3077. 560.30 of the statutes is created to read:
AB75-ASA1,1581,18 18560.30 Definitions. In this subchapter:
AB75-ASA1,1581,19 19(1) "Board" means the economic policy board created under s. 15.155 (2).
AB75-ASA1,1581,22 20(2) "Business" means a company located in this state, a company that has made
21a firm commitment to locate a facility in this state, or a group of companies at least
2280 percent of which are located in this state.
AB75-ASA1,1582,2 23(3) "Cluster" means a geographic, categorical, horizontal, or vertical
24concentration of interconnected, interdependent, or synergistic businesses,

1industries, research centers, or venues for the performance, creation, or display of
2the arts.
AB75-ASA1,1582,4 3(4) "Community-based organization" means an organization that is involved
4in economic development and helps businesses that are likely to employ persons.
AB75-ASA1,1582,6 5(5) "Economically distressed area" means an area designated by the
6department using the methodology established by rule under s. 560.301 (2).
AB75-ASA1,1582,7 7(6) "Eligible activity" means any of the following:
AB75-ASA1,1582,88 (a) The start-up, expansion, or retention of minority businesses.
AB75-ASA1,1582,109 (b) The start-up, expansion, or retention of businesses in economically
10distressed areas.
AB75-ASA1,1582,1111 (c) Innovative proposals to strengthen inner cities.
AB75-ASA1,1582,1212 (d) Innovative proposals to strengthen communities in rural municipalities.
AB75-ASA1,1582,1313 (e) Innovative programs to strengthen clusters.
AB75-ASA1,1582,1414 (f) Innovative proposals to strengthen entrepreneurship.
AB75-ASA1,1582,15 15(7) "Eligible recipient" means any of the following:
AB75-ASA1,1582,1616 (a) A business or small business.
AB75-ASA1,1582,1717 (b) The governing body of a municipality.
AB75-ASA1,1582,1818 (c) A community-based organization.
AB75-ASA1,1582,2019 (d) A cooperative or association incorporated under ch. 185 or organized under
20ch. 193.
AB75-ASA1,1582,2121 (e) A local development corporation.
AB75-ASA1,1582,2322 (f) A nonprofit organization whose primary purpose is to promote the economic
23development of or community development in a particular area or region in the state.
AB75-ASA1,1582,25 24(8) "Governing body" means a county board, city council, village board, or town
25board.
AB75-ASA1,1582,26
1(9) "Local development corporation" means any of the following:
AB75-ASA1,1583,32 (a) The elected governing body of a federally recognized American Indian tribe
3or band in this state or any business created by the elected governing body.
AB75-ASA1,1583,64 (b) A corporation organized under ch. 181 that is a nonprofit corporation, as
5defined in s. 181.0103 (17), that is at least 51 percent controlled and actively
6managed by minority group members, and that does all of the following:
AB75-ASA1,1583,77 1. Operates primarily within specific geographic boundaries.
AB75-ASA1,1583,98 2. Promotes economic development and employment opportunities for minority
9group members or minority businesses within the specific geographic area.
AB75-ASA1,1583,1210 3. Demonstrates a commitment to or experience in promoting economic
11development and employment opportunities for minority group members or
12minority businesses.
AB75-ASA1,1583,13 13(10) "Minority business" has the meaning given in s. 560.036 (1) (e).
AB75-ASA1,1583,14 14(11) "Minority group member" has the meaning given in s. 560.036 (1) (f).
AB75-ASA1,1583,15 15(12) "Municipality" means a county, city, village, or town.
AB75-ASA1,1583,16 16(13) "Rural municipality" means any of the following:
AB75-ASA1,1583,1817 (a) A municipality that is located in a county with a population density of less
18than 150 persons per square mile.
AB75-ASA1,1583,1919 (b) A municipality with a population of 6,000 or less.
AB75-ASA1,1583,21 20(14) "Small business" means a business with fewer than 100 employees,
21including employees of any subsidiary or affiliated organization.
AB75-ASA1, s. 3078 22Section 3078. 560.301 of the statutes is created to read:
AB75-ASA1,1584,2 23560.301 Rules, policies, and standards for awarding grants and
24making loans.
The department, in consultation with the board, shall promulgate
25rules that establish procedures, policies, and standards for implementing this

1subchapter and awarding grants and making loans under this subchapter. The rules
2shall include all of the following:
AB75-ASA1,1584,5 3(1) A statement of the department's economic development objectives for the
4program under this subchapter, together with the goals and accountability measures
5required under s. 560.01 (2) (ae).
AB75-ASA1,1584,8 6(2) The methodology for designating an area as economically distressed. The
7methodology under this subsection shall require the department to consider the most
8current data available for the area and for the state on the following indicators:
AB75-ASA1,1584,99 (a) Unemployment rate.
AB75-ASA1,1584,1110 (b) Percentage of families with incomes below the poverty line established
11under 42 USC 9902 (2).
AB75-ASA1,1584,1212 (c) Median family income.
AB75-ASA1,1584,1313 (d) Median per capita income.
AB75-ASA1,1584,1414 (e) Average annual wage.
AB75-ASA1,1584,1515 (f) Real property values.
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