SB21-SSA1,1220,1121 231.02 (2) The authority shall appoint an executive director and associate
22executive director who shall not be members of the authority and who shall serve at
23the pleasure of the authority. They shall receive such compensation as the authority
24fixes, except that the compensation of the executive director shall not exceed the
25maximum of the salary range established under s. 20.923 (1) for positions assigned

1to executive salary group 4 6 and the compensation of each other employee of the
2authority shall not exceed the maximum of the salary range established under s.
320.923 (1) for positions assigned to executive salary group 3. The executive director
4or associate executive director or other person designated by resolution of the
5authority shall keep a record of the proceedings of the authority and shall be
6custodian of all books, documents, and papers filed with the authority, the minute
7book or journal of the authority, and its official seal. The executive director or
8associate executive director or other person may cause copies to be made of all
9minutes and other records and documents of the authority and may give certificates
10under the official seal of the authority to the effect that such copies are true copies,
11and all persons dealing with the authority may rely upon such certificates.
SB21-SSA1,3805 12Section 3805. 233.10 (3) (c) 4. of the statutes is amended to read:
SB21-SSA1,1220,1913 233.10 (3) (c) 4. Grant to the carry-over employee military leave, treatment of
14military leave, jury service leave and voting leave in accordance with s. 230.35 (3)
15and (4) (e) and, to the extent applicable, rules of the office division of state
16employment relations
personnel management in the department of administration
17governing such leaves for employees in the classified service as of the last day of the
18employee's employment as a state employee if the employee was entitled to those
19benefits on that day.
SB21-SSA1,3810 20Section 3810. 233.10 (4) of the statutes is amended to read:
SB21-SSA1,1221,221 233.10 (4) Notwithstanding the requirement that an employee be a state
22employee, a carry-over employee of the authority who was employed in a position in
23the classified service immediately prior to beginning employment with the authority
24shall, from June 29, 1996, to June 30, 1997, have the same transfer rights under s.
25230.29 and the rules of the office division of state employment relations personnel

1management in the department of administration
governing transfers as a person
2who holds a position in the classified service.
SB21-SSA1,3918 3Section 3918. 234.86 (1) (c) of the statutes is amended to read:
SB21-SSA1,1221,64 234.86 (1) (c) "Local governmental unit" has the meaning given in s. 281.61 (1)
5(a) (am), except that the term does not include a joint local water authority created
6under s. 66.0823.
SB21-SSA1,3947g 7Section 3947g. 234.94 (5) of the statutes is amended to read:
SB21-SSA1,1221,118 234.94 (5) "Primary employment" means work which that pays at least the
9minimum wage as established under ch. 104 s. 104.035 (1) or under federal law,
10whichever is greater, offers adequate fringe benefits, including health insurance,
11and is not seasonal or part time.
SB21-SSA1,3947r 12Section 3947r. 234.94 (8) of the statutes is amended to read:
SB21-SSA1,1221,1813 234.94 (8) "Target group" means a population group for which the
14unemployment level is at least 25% 25 percent higher than the statewide
15unemployment level, or a population group for which the average wage received is
16less than 1.2 times the minimum wage as established under ch. 104 s. 104.035 (1) or
17under federal law, whichever is greater. No population group is required to be located
18within a contiguous geographic area to be considered a target group.
SB21-SSA1,3949 19Section 3949. 237.07 (3) (a) of the statutes is amended to read:
SB21-SSA1,1221,2420 237.07 (3) (a) For each fiscal year, the authority shall submit to the department
21of administration an audited financial statement of the funding received by the
22authority from the department of natural resources under s. 237.08 (2) and by the
23authority
from contributions and other funding accepted by the authority under s.
24237.08 (3).
SB21-SSA1,3950 25Section 3950. 237.08 (2) of the statutes is repealed.
SB21-SSA1,3956c
1Section 3956c. 238.02 (1) of the statutes is amended to read:
SB21-SSA1,1222,152 238.02 (1) There is created an authority, which is a public body corporate and
3politic, to be known as the "Wisconsin Economic Development Corporation." The
4members of the board shall consist of the governor, who shall serve as chairperson
5of the board, and
6 members nominated by the governor, and with the advice and
6consent of the senate appointed, to serve at the pleasure of the governor; 3 members
7appointed by the speaker of the assembly, consisting of one majority and one minority
8party representative to the assembly, appointed as are the members of standing
9committees in the assembly, and one person employed in the private sector, to serve
10at the speaker's pleasure; and 3 members appointed by the senate majority leader,
11consisting of one majority and one minority party senator, appointed as are members
12of standing committees in the senate, and one person employed in the private sector,
13to serve at the majority leader's pleasure. The secretary of administration and the
14secretary of revenue shall also serve on the board as nonvoting members. The board
15shall elect a chairperson from among its nonlegislative voting members.
SB21-SSA1,3956g 16Section 3956g. 238.02 (4) of the statutes is amended to read:
SB21-SSA1,1222,1917 238.02 (4) All powers and duties assigned to the corporation under this chapter
18shall be exercised or carried out by the board, unless the board delegates the power
19or duty to an employee of the corporation or a committee established by the board.
SB21-SSA1,3960g 20Section 3960g. 238.03 (4) of the statutes is created to read:
SB21-SSA1,1222,2421 238.03 (4) (a) In this subsection, "unassigned balance" means all moneys held
22by the corporation that the corporation is not obligated by law or by contract to
23expend for a particular purpose or that the corporation has not otherwise assigned
24to be expended for a particular purpose.
SB21-SSA1,1223,2
1(b) The board shall establish policies and procedures for maintaining and
2expending any unassigned balance that satisfy all of the following requirements:
SB21-SSA1,1223,43 1. The policies and procedures shall be consistent with best practices
4recommended by the Government Finance Officers Association.
SB21-SSA1,1223,75 2. The policies and procedures shall establish as a target that the corporation's
6unassigned balance on June 30 of each fiscal year be an amount equal to or less than
7one-sixth of the corporation's total administrative expenditures for that fiscal year.
SB21-SSA1,3961b 8Section 3961b. 238.115 of the statutes is created to read:
SB21-SSA1,1223,11 9238.115 Tax credit reporting. (1) Corporation obligations. No later than
10the end of the first month following each quarter, the corporation shall provide to the
11department of revenue all of the following information for the previous quarter:
SB21-SSA1,1223,1312 (a) The identity of each person the corporation certified for tax credits under
13this chapter and, for each person, the amount certified.
SB21-SSA1,1223,1614 (b) The identity of each person the corporation verified to claim tax credits
15under this chapter based on the person's satisfaction of all applicable requirements
16to be eligible to claim the tax credits and, for each person, the amount verified.
SB21-SSA1,1223,2017 (c) The identity of each person, whether an entity or individual, who may claim
18tax credits as the result of each verification of each person identified under par. (b).
19The information provided under this paragraph shall specify the taxable year that
20applies for each of those persons.
SB21-SSA1,1223,2421 (d) The identity of each person, whether an entity or individual, who may claim
22tax credits as the result of a transfer of tax credits under this chapter and, for each
23person, the amount transferred. The information provided under this paragraph
24shall specify the taxable year that applies for each of those persons.
SB21-SSA1,1224,2
1(e) The identity of each person for whom the corporation revoked a certification
2for tax credits and, for each person, the amount revoked.
SB21-SSA1,1224,43 (f) The amount of tax credits already claimed that must be repaid as the result
4of a revocation for each person identified under par. (e).
SB21-SSA1,1224,75 (g) Any other information the department of revenue and the corporation agree
6is necessary to accurately track certification, verification, transfer, and usage of tax
7credits under this chapter.
SB21-SSA1,1224,10 8(2) Taxpayer obligations. Each person the corporation certifies for tax credits
9under this chapter shall provide all information necessary for the corporation to
10comply with the reporting requirements under sub. (1).
SB21-SSA1,1224,14 11(3) Department of revenue's obligation. The department of revenue shall
12track the amount of all tax credits administered by the corporation that have been
13claimed or used to offset tax liability and the amount of all available unused tax
14credits under this chapter.
SB21-SSA1,3971b 15Section 3971b. 238.12 (1) of the statutes is amended to read:
SB21-SSA1,1224,1916 238.12 (1) In this section, "tax benefits" means the credits under ss. 71.07 (2dd),
17(2de), (2di), (2dj), (2dL),
(2dm), (2dr), (2ds), (2dx), (3g), and (3t), 71.28 (1dd), (1de),
18(1di), (1dj), (1dL),
(1dm), (1ds), (1dx), (3g), and (3t), 71.47 (1dd), (1de), (1di), (1dj),
19(1dL),
(1dm), (1ds), (1dx), (3g), and (3t), and 76.636.
SB21-SSA1,3971r 20Section 3971r. 238.123 of the statutes is created to read:
SB21-SSA1,1224,24 21238.123 Loan reduction. (1) Except for loans made under sub. (2), the
22corporation may not originate more than $10,000,000 in new loans in fiscal year
232015-16, may not originate more than $5,000,000 in loans in fiscal year 2016-17,
24and may not originate any new loan after June 30, 2017.
SB21-SSA1,1225,5
1(2) The corporation may continue to administer its technology development
2loan program as that program was constituted on January 1, 2015. The corporation
3may not originate more than $3,000,000 annually in loans under that program,
4except that all loan amounts funded from federal revenue do not count toward that
5limit.
SB21-SSA1,3975 6Section 3975. 238.13 (2) (b) 2. of the statutes is repealed.
SB21-SSA1,3976 7Section 3976. 238.13 (2) (b) 3. of the statutes is created to read:
SB21-SSA1,1225,98 238.13 (2) (b) 3. The recipient of a grant under this section shall contribute to
9the project an amount that is equal to at least 50 percent of the amount of the grant.
SB21-SSA1,3977 10Section 3977. 238.13 (5) of the statutes is amended to read:
SB21-SSA1,1225,1311 238.13 (5) Before the corporation awards a grant under this section, the
12corporation shall consider the recommendations of the department of administration
13and
the department of natural resources.
SB21-SSA1,3977m 14Section 3977m. 238.14 of the statutes is created to read:
SB21-SSA1,1225,19 15238.14 St. Croix Valley Business Incubator. From the appropriation under
16s. 20.192 (1) (a), the corporation shall make a grant of $250,000 to the River Falls
17Economic Development Corporation to construct the St. Croix Valley Business
18Incubator. The corporation may award the grant under this section only if federal
19moneys are secured for the same purpose.
SB21-SSA1,3979n 20Section 3979n. 238.145 of the statutes is created to read:
SB21-SSA1,1225,21 21238.145 Grants for fabrication laboratories. (1) In this section:
SB21-SSA1,1225,2322 (a) "Eligible recipient" means a person the corporation certifies under sub. (2)
23(b) as eligible to receive grants under this section.
SB21-SSA1,1226,224 (b) "Fabrication laboratory" means a medium-scale, high-technology
25workshop equipped with computer-controlled additive and subtractive

1manufacturing components, including 3-dimensional printers, laser engravers,
2computer numerical control routers, or plasma cutters.
SB21-SSA1,1226,4 3(2) (a) The corporation shall implement an economic development program to
4award grants under this section.
SB21-SSA1,1226,75 (b) The corporation may certify a person as eligible to receive grants under this
6section as provided in policies and procedures adopted by the corporation under sub.
7(6).
SB21-SSA1,1226,88 (c) The corporation may not certify a person under par. (b) after June 30, 2017.
SB21-SSA1,1226,10 9(3) (a) From the appropriation under s. 20.192 (1) (a), the corporation may
10award up to a total of $500,000 in grants to eligible recipients.
SB21-SSA1,1226,1311 (b) The corporation may not award grants totaling more than $75,000 to each
12eligible recipient, and the corporation may not award a grant of more than $25,000
13to an eligible recipient in any year.
SB21-SSA1,1226,17 14(4) An eligible recipient of a grant under this section shall use all grant moneys
15for the purchase of equipment used for instructional and educational purposes in one
16or more fabrication laboratories by elementary, middle, junior, or senior high school
17students.
SB21-SSA1,1226,22 18(5) (a) The corporation shall award grants under this section annually, on a
19competitive basis, based on an eligible recipient's financial need; and, subject to the
20limitations under par. (b), the corporation may not take into account whether an
21eligible recipient was previously awarded a grant under this section in determining
22whether to award a grant to the eligible recipient.
SB21-SSA1,1226,2423 (b) The corporation may award no more than 3 annual grants to each eligible
24recipient, as follows:
SB21-SSA1,1227,2
11. In the first grant year, the corporation may contribute up to 75 percent of the
2eligible recipient's equipment expenditures under sub. (4).
SB21-SSA1,1227,43 2. In the 2nd grant year, the corporation may contribute up to 50 percent of the
4eligible recipient's equipment expenditures under sub. (4).
SB21-SSA1,1227,65 3. In the 3rd grant year, the corporation may contribute up to 25 percent of the
6eligible recipient's equipment expenditures under sub. (4).
SB21-SSA1,1227,8 7(6) The corporation shall adopt policies and procedures to implement the grant
8program under this section.
SB21-SSA1,3982 9Section 3982. 238.15 (1) (f) 1. b. of the statutes is amended to read:
SB21-SSA1,1227,1410 238.15 (1) (f) 1. b. Processing or assembling products, including medical
11devices, pharmaceuticals, computer software, computer hardware, semiconductors,
12any other innovative technology products, or other products that are produced using
13manufacturing methods that are enabled by applying proprietary differentiating
14technology.
SB21-SSA1,3983 15Section 3983. 238.15 (1) (f) 1. c. of the statutes is amended to read:
SB21-SSA1,1227,1716 238.15 (1) (f) 1. c. Services that are enabled by applying proprietary
17differentiating technology.
SB21-SSA1,3984 18Section 3984. 238.15 (1) (f) 2. of the statutes is amended to read:
SB21-SSA1,1227,2219 238.15 (1) (f) 2. It is undertaking pre-commercialization activity related to
20proprietary differentiating technology that includes conducting research,
21developing a new product or business process, or developing a service that is
22principally reliant on applying proprietary differentiating technology.
SB21-SSA1,3990 23Section 3990. 238.15 (1) (m) 1. (intro.) of the statutes is amended to read:
SB21-SSA1,1228,524 238.15 (1) (m) 1. (intro.) It agrees that it will not relocate outside of this state
25during the 3 years after it receives an investment for which a person may claim a tax

1credit under s. 71.07 (5d) and agrees to pay the corporation a penalty, in an amount
2determined under subd. 2., if the business relocates outside of this state during that
33-year period. For the purposes of this paragraph, except as provided in policies and
4procedures under sub. (3) (dm),
a business relocates outside of this state when the
5business locates more than 51 percent of any of the following outside of this state:
SB21-SSA1,3991 6Section 3991. 238.15 (1) (m) 3. of the statutes is created to read:
SB21-SSA1,1228,107 238.15 (1) (m) 3. Subdivision 1. does not apply to a business that the
8corporation certified for purposes of s. 71.07 (5d) before April 20, 2012, and that, in
9reliance on that certification, executed a note or bond that is convertible to an equity
10interest.
SB21-SSA1,3991b 11Section 3991b. 238.15 (3) (b) of the statutes is repealed.
SB21-SSA1,3991n 12Section 3991n. 238.15 (3) (d) (intro.) of the statutes is amended to read:
SB21-SSA1,1229,1913 238.15 (3) (d) Rules Administration. (intro.) The corporation, in consultation
14with the department of revenue, shall adopt rules establish policies and procedures
15to administer this section. The rules and shall further define "bona fide angel
16investment" for purposes of s. 71.07 (5d) (a) 1. The rules shall limit the aggregate
17amount of tax credits under s. 71.07 (5d) that may be claimed for investments in
18businesses certified under sub. (1) at $3,000,000 per calendar year for calendar years
19beginning after December 31, 2004, and before January 1, 2008, $5,500,000 per
20calendar year for calendar years beginning after December 31, 2007, and before
21January 1, 2010, $6,500,000 for calendar year 2010, and $20,000,000 per calendar
22year for calendar years beginning after December 31, 2010, plus, for taxable years
23beginning after December 31, 2010, an additional $250,000 for tax credits that may
24be claimed for investments in nanotechnology businesses certified under sub. (1).
25The rules shall also limit the aggregate amount
and of the tax credits under ss. 71.07

1(5b), 71.28 (5b), 71.47 (5b), and 76.638 that may be claimed for investments paid to
2fund managers certified under sub. (2) at $3,500,000 per calendar year for calendar
3years beginning after December 31, 2004, and before January 1, 2008, $6,000,000 per
4calendar year for calendar years beginning after December 31, 2007, and before
5January 1, 2010, $8,000,000 for calendar year 2010, and $20,500,000
is $30,000,000
6per calendar year for calendar years beginning after December 31, 2010, plus, for
7taxable years beginning after December 31, 2010, an additional $250,000 for tax
8credits that may be claimed for investments in nanotechnology businesses certified
9under sub. (1)
. The rules policies and procedures shall also provide that, for calendar
10years beginning after December 31, 2007,
a person who receives a credit under ss.
11s. 71.07 (5b) and or (5d), 71.28 (5b), 71.47 (5b), or 76.638 must keep the investment
12in a certified business, or with a certified fund manager, for no less than 3 years,
13unless the person's investment becomes worthless, as determined by the corporation,
14during the 3-year period or the person has kept the investment for no less than 12
15months and a bona fide liquidity event, as determined by the corporation, occurs
16during the 3-year period. The rules policies and procedures shall permit the
17corporation to reallocate credits under this section in any calendar year that are
18unused in any that calendar year to a person eligible for tax benefits, as defined
19under s. 238.16 (1) (d), if all of the following apply:
SB21-SSA1,3991o 20Section 3991o. 238.15 (3) (d) (intro.) of the statutes, as affected by 2015
21Wisconsin Act .... (this act), is amended to read:
SB21-SSA1,1230,1322 238.15 (3) (d) Administration. (intro.) The corporation, in consultation with
23the department of revenue, shall establish policies and procedures to administer this
24section and shall further define "bona fide angel investment" for purposes of s. 71.07
25(5d) (a) 1. The aggregate amount of tax credits under s. 71.07 (5d) that may be

1claimed for investments in businesses certified under sub. (1) and of tax credits
2under ss. 71.07 (5b), 71.28 (5b), 71.47 (5b), and 76.638 that may be claimed for
3investments paid to fund managers certified under sub. (2) is $30,000,000 per
4calendar year. The policies and procedures shall provide that a person who receives
5a credit under s. 71.07 (5b) or (5d), 71.28 (5b), 71.47 (5b), or 76.638 must keep the
6investment in a certified business, or with a certified fund manager, for no less than
73 years, unless the person's investment becomes worthless, as determined by the
8corporation, during the 3-year period or the person has kept the investment for no
9less than 12 months and a bona fide liquidity event, as determined by the
10corporation, occurs during the 3-year period. The policies and procedures shall
11permit the corporation to reallocate credits under this section in any calendar year
12that are unused in that calendar year to a person eligible for tax benefits, as defined
13under s. 238.16 (1) (d) 238.30 (7) (e), if all of the following apply:
SB21-SSA1,3992 14Section 3992. 238.15 (3) (dm) of the statutes is created to read:
SB21-SSA1,1230,1915 238.15 (3) (dm) The corporation's policies and procedures under this subsection
16shall provide that a business is considered to have not relocated outside of this state
17under sub. (1) (m) 1., regardless of whether the business satisfies sub. (1) (m) 1. a.
18and b., if the corporation determines that the business's investment and employment
19levels in this state have not diminished.
SB21-SSA1,3993 20Section 3993. 238.15 (3) (e) of the statutes is amended to read:
SB21-SSA1,1231,521 238.15 (3) (e) Transfer. A person who is eligible to claim a credit under s. 71.07
22(5b), 71.28 (5b), 71.47 (5b), or 76.638 may sell or otherwise transfer the credit to
23another person who is subject to the taxes or fees imposed under s. 71.02, 71.23,
2471.47, or subch. III of ch. 76, if the person receives prior authorization from the
25investment fund manager and the manager then notifies the corporation and the

1department of revenue of the transfer and submits with the notification a copy of the
2transfer documents. No person may sell or otherwise transfer a credit as provided
3in this paragraph more than once in a 12-month period. The corporation may charge
4any person selling or otherwise transferring a credit under this paragraph a fee equal
5of up to 1 5 percent of the credit amount sold or transferred.
SB21-SSA1,3993b 6Section 3993b. 238.15 (3) (f) of the statutes is created to read:
SB21-SSA1,1231,97 238.15 (3) (f) Limit on future allocations. 1. Beginning with December 31,
82014, tax credits that the corporation has not allocated under this section on or before
9December 31 of each year may not be allocated after that date.
SB21-SSA1,1231,1210 2. Subdivision 1. does not apply to an allocation of tax credits occurring after
11December 31, 2014, and before the effective date of this subdivision .... [LRB inserts
12date].
SB21-SSA1,3995 13Section 3995. 238.16 (4) (c) of the statutes is amended to read:
SB21-SSA1,1231,1814 238.16 (4) (c) Subject to a reallocation by the corporation pursuant to rules
15policies and procedures adopted under s. 238.15 (3) (d), the corporation may allocate
16up to $5,000,000 in tax benefits under this section in any calendar year, except that
17beginning on July 1, 2011, the corporation may allocate up to
$10,000,000 in tax
18benefits under this section in any calendar year.
SB21-SSA1,3995e 19Section 3995e. 238.16 (5) (a) of the statutes is repealed.
SB21-SSA1,3995f 20Section 3995f. 238.16 (5) (b) of the statutes is repealed.
SB21-SSA1,3995g 21Section 3995g. 238.16 (5) (d) of the statutes is repealed.
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