LRB-2065/P1
MPG:kjf
2019 - 2020 LEGISLATURE
DOA:......Quinn, BB0385 - Increased Requirements for Grants, Loans, or Tax Credits
For 2019-2021 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
commerce and economic development
Economic development
1. WEDC contracting requirements
This bill creates certain requirements for contracts between WEDC and recipients of grants, loans, or tax credits awarded by WEDC. Under the bill, WEDC may not enter into a contract for a grant, loan, or tax credit before all of the following occur:
1. WEDC verifies the applicant's number of full-time employees through payroll or other business records.
2. WEDC's underwriting staff completes a review of the application for the grant, loan, or tax credit, including an evaluation of all statutory requirements and all requirements under WEDC's policies and procedures that apply to the grant, loan, or tax credit.
The bill also requires that all terms of each contract WEDC executes must, at the time the contract is executed, be in compliance with all applicable state laws and all applicable WEDC policies and procedures.
Finally, the bill specifies that each contract WEDC executes must require the award recipient to submit payroll records, or other business records WEDC deems sufficient, to WEDC for the purpose of accounting for jobs created or retained.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section 1
. 238.095 of the statutes is created to read:
238.095 Contract requirements.
(1) All terms of each contract the corporation executes shall, at the time the contract is executed, be in compliance with all applicable state laws and all applicable corporation policies and procedures.
(2) Prior to executing a contract with a person for the award of a grant, loan, or tax credit, the corporation shall establish, through payroll records or other business records the corporation determines are sufficient, the number of full-time employees employed by the person for the purpose of accounting for each full-time job created or retained during the course of the contract.
(3) Each contract the corporation executes with a person for the award of a grant, loan, or tax credit shall require the person to submit to the corporation payroll records, or other business records the corporation determines are sufficient, to verify the number of full-time jobs created or retained during the course of the contract. The corporation shall adopt policies and procedures establishing standards to verify the business records and full-time job data.
Section 2
. 238.097 of the statutes is created to read:
238.097 Underwriting staff review. The corporation may not enter into a contract with a person for the award of a grant, loan, or tax credit before the corporation's underwriting staff completes a review of the person's application for the grant, loan, or tax credit, including an evaluation of all statutory requirements and all requirements under the corporation's policies and procedures that apply to the grant, loan, or tax credit.
(End)
