SB77: Bill Text

SB77,1734,4 560.745 (2) (a) When the department designates a development zone under s. 560.71, it shall establish a limit for tax benefits for the development zone determined by allocating to the development zone a portion of $28,155,000 $33,155,000.

SB77, s. 4510 Section 4510. 560.745 (2) (am) of the statutes is amended to read:

SB77,1734,8 560.745 (2) (am) Notwithstanding par. (a), the department may increase the established limit for tax benefits for a development zone that was designated before April 25, 1996, by no more than $500,000.

SB77, s. 4511 Section 4511. 560.745 (2) (c) 1. of the statutes is amended to read:

SB77,1734,12 560.745 (2) (c) 1. Ninety days after the day on which the department determines that the foregone tax revenues under par. (b) will equal or exceed the limit for the development zone established under par. (a) or (am).

SB77, s. 4512 Section 4512. 560.75 (8) of the statutes is amended to read:

SB77,1734,17 560.75 (8) Verify Annually verify information submitted to the department under ss. s. 71.07 (2di) (d) 2., (2dj) (e) 3., (2dL) (f) and (2ds) (d) 2. (2dx), 71.28 (1di) (d) 2., (1dj) (e) 3., (1dL) (f), (1ds) (d) 2. and (4) (am) and (1dx) or 71.47 (1di) (d) 2., (1dj) (e) 3., (1dL) (f), (1ds) (d) 2. and (4) (am) (1dx).

SB77, s. 4513 Section 4513. 560.75 (9) of the statutes is repealed.

SB77, s. 4514 Section 4514. 560.765 (3) (c) of the statutes is amended to read:

SB77,1734,22 560.765 (3) (c) The number of full-time jobs that will be created, retained or substantially upgraded as a result of the person's economic activity in relation to the amount of tax benefits estimated for the person under sub. (4).

SB77, s. 4515 Section 4515. 560.765 (3) (i) of the statutes is repealed.

SB77, s. 4516 Section 4516. 560.765 (5) (e) of the statutes is amended to read:

SB77,1735,3 560.765 (5) (e) The estimated number of full-time jobs that will be created, retained or significantly upgraded in the development zone because of the person's business.

SB77, s. 4517 Section 4517. 560.765 (5) (f) of the statutes is amended to read:

SB77,1735,7 560.765 (5) (f) An estimate of the number or percentage of full-time jobs described in par. (e) that are or will likely be held by members of the targeted population.

SB77, s. 4518 Section 4518. 560.768 (1) (a) of the statutes is amended to read:

SB77,1735,13 560.768 (1) (a) The department shall establish a limit on the maximum amount of tax benefits a person certified under s. 560.765 (3) may claim while an area is designated as a development zone. The limit may specify a minimum amount of the total tax benefits that may be used exclusively for the credits under ss. 71.07 (2dj), 71.28 (1dj) and 71.47 (1dj), subject to s. 560.75 (9).

SB77, s. 4519 Section 4519. 560.768 (1) (b) 2. of the statutes is amended to read:

SB77,1735,19 560.768 (1) (b) 2. Establish a limit which does not greatly exceed a recommended limit, established under rules promulgated by the department based on the cost, number and types of full-time jobs that will be created, retained or upgraded, including full-time jobs available to members of the targeted population, as a result of the economic activity of the person certified under s. 560.765 (3).

SB77, s. 4520 Section 4520. 560.78 (1) (a) of the statutes is amended to read:

SB77,1735,22 560.78 (1) (a) Result in the direct loss of full-time jobs at another of the person's business locations in this state outside of the development zone.

SB77, s. 4521 Section 4521. 560.78 (2) (a) of the statutes is amended to read:

SB77,1736,3 560.78 (2) (a) The total number of full-time jobs provided by the person in this state would be reduced if the person were not certified under s. 560.765 (3) or if the person's certification were revoked.

SB77, s. 4522 Section 4522. 560.78 (3) (b) of the statutes is amended to read:

SB77,1736,9 560.78 (3) (b) Only the department may determine whether sub. (2) (a) or (b) applies to a business relocation described in par. (a) if the business relocation would likely result in the loss of full-time jobs at or transfer of employes from a business location that is in this state but outside the limits of any city, village, town or federally recognized American Indian reservation in which the development zone is located.

SB77, s. 4523 Section 4523. 560.785 of the statutes is created to read:

SB77,1736,14 560.785 Rules on eligibility for tax benefits. (1) For the development zone program under ss. 560.70 to 560.78 and the enterprise development zone program under s. 560.797, the department shall promulgate rules that further define a person's eligibility for tax benefits. The rules shall do at least all of the following:

SB77,1736,16 (a) Limit a person's eligibility to claim tax benefits for retaining full-time jobs to those jobs that likely would not have been retained but for the tax benefits.

SB77,1736,19 (b) Allow a person to claim up to $6,500 in tax benefits during the time that an area is designated as a development zone or as an enterprise development zone for any of the following:

SB77,1736,20 1. Creating a full-time job that is filled by a member of the target population.

SB77,1736,21 2. Retaining a full-time job that is filled by a member of the target population.

SB77,1736,24 (c) Allow a person to claim up to $4,000 in tax benefits during the time that an area is designated as a development zone or as an enterprise development zone for any of the following:

SB77,1737,2 1. Creating a full-time job that is filled by an individual who is not a member of the target population.

SB77,1737,4 2. Retaining a full-time job that is filled by an individual who is not a member of the target population.

SB77,1737,6 (d) Require at least 25% of the tax benefits claimed by a person to be based on creating or retaining full-time jobs.

SB77,1737,9 (e) Require at least one-third of the tax benefits claimed by a person that are based on creating or retaining full-time jobs to be based on creating or retaining full-time jobs that are filled by members of the target population.

SB77,1737,11 (f) Specify how long a full-time job that is created or retained by a person must be maintained in order for the person to claim tax benefits for the full-time job.

SB77,1737,13 (g) Generally provide incentives for the retention of employes filling full-time jobs upon which tax benefits are based.

SB77,1737,15 (2) The department may by rule specify circumstances under which the department may grant exceptions to any of the following:

SB77,1737,16 (a) The requirements specified under sub. (1) (d) and (e).

SB77,1737,18 (b) The requirement under ss. 560.70 (2m) and 560.797 (1) (am) that an individual's pay must equal at least 150% of the federal minimum wage.

SB77, s. 4524 Section 4524. 560.795 (3) (b) 6. of the statutes is amended to read:

SB77,1737,22 560.795 (3) (b) 6. The number of full-time jobs that will be created, retained or substantially upgraded as a result of the corporation's economic activity in relation to the amount of tax benefits estimated for the corporation.

SB77, s. 4525 Section 4525. 560.795 (3) (d) of the statutes is amended to read:

SB77,1738,3 560.795 (3) (d) The department annually shall verify information submitted to the department under s. 71.07 (2dx), 71.28 (1di) (d) 2., (1dj) (e) 3., (1dL) (f), (1ds) (d) 2. and (4) (am) (1dx) or 71.47 (1dx).

SB77, s. 4526 Section 4526. 560.797 (1) (am) of the statutes is created to read:

SB77,1738,5 560.797 (1) (am) "Full-time job" has the meaning given in s. 560.70 (2m).

SB77, s. 4527 Section 4527. 560.797 (2) (b) 4. of the statutes is amended to read:

SB77,1738,8 560.797 (2) (b) 4. The number of full-time jobs that are likely to be created as a result of the project.

SB77, s. 4528 Section 4528. 560.797 (2) (b) 5. of the statutes is amended to read:

SB77,1738,11 560.797 (2) (b) 5. The number of full-time jobs that are likely to be available to the target population as a result of the project.

SB77, s. 4529 Section 4529. 560.797 (3) (b) 6. of the statutes is amended to read:

SB77,1738,15 560.797 (3) (b) 6. The estimated number of full-time jobs that will be created, retained or substantially upgraded as a result of the person's project in relation to the amount of tax benefits estimated for the person.

SB77, s. 4530 Section 4530. 560.797 (3) (b) 8. of the statutes is amended to read:

SB77,1738,18 560.797 (3) (b) 8. The estimated number of full-time jobs that will be filled by members of the target population.

SB77, s. 4531 Section 4531. 560.797 (3) (b) 9. of the statutes is repealed.

SB77, s. 4532 Section 4532. 560.797 (4) (g) of the statutes is created to read:

SB77,1738,22 560.797 (4) (g) The department annually shall verify information submitted to the department under s. 71.07 (2dx), 71.28 (1dx) or 71.47 (1dx).

SB77, s. 4533 Section 4533. 560.80 (6) of the statutes is amended to read:

SB77,1739,3 560.80 (6) "Job" means a regular, nonseasonal full-time position providing full-time equivalent employment for one individual for one year, beginning after a project is completed in which an individual, as a condition of employment, is required to work at least 2,080 hours per year, including paid leave and holidays. "Job" does not include initial training before an employment position begins.

SB77, s. 4534 Section 4534. 560.80 (11) of the statutes is amended to read:

SB77,1739,6 560.80 (11) "Project" means a development project, a recycling development project or, an early planning project or a revolving fund project.

SB77, s. 4535 Section 4535. 560.82 (4) (a) (intro.) of the statutes is amended to read:

SB77,1739,9 560.82 (4) (a) (intro.) Award in a fiscal biennium, for grants under sub. (1), more than 10% 25% of the total of all of the following:

SB77, s. 4536 Section 4536. 560.83 (title) of the statutes is amended to read:

SB77,1739,12 560.83 (title) Minority business development and revolving fund grants and loans.

SB77, s. 4537 Section 4537. 560.83 (2) (a) of the statutes is renumbered 560.83 (2) (a) (intro.) and amended to read:

SB77,1739,16 560.83 (2) (a) (intro.) The local development corporation agrees to use the proceeds of grants or loans under this section to for any of the following:

SB77,1739,18 1. To make grants or loans not exceeding $50,000 each to eligible recipients to fund eligible project development project costs.

SB77, s. 4538 Section 4538. 560.83 (2) (a) 2. of the statutes is created to read:

SB77,1739,22 560.83 (2) (a) 2. To create, expand or continue a revolving fund program that is operated by the local development corporation and that benefits or will benefit minority businesses or minority group members who are residents of this state.

SB77, s. 4539 Section 4539. 560.83 (2) (b) of the statutes is repealed and recreated to read:

SB77,1740,3 560.83 (2) (b) The local development corporation agrees to use factors similar to those described in s. 560.84 (1) (a) to (k) and (2) (a) to (f) when making grants or loans under par. (a) 1. or under a revolving fund program under par. (a) 2.

SB77, s. 4540 Section 4540. 560.83 (3) of the statutes is amended to read:

SB77,1740,7 560.83 (3) The board may not award a grant or loan under sub. (1) or (2) unless the eligible recipient or the local development corporation submits an application, or other materials, in a form specified by the department by rule.

SB77, s. 4541 Section 4541. 560.83 (4) of the statutes is renumbered 560.83 (4) (a) and amended to read:

SB77,1740,13 560.83 (4) (a) In any fiscal biennium, the board or local development corporation may not award, to any one eligible recipient or for any one development project, grants or loans under sub. (1) or (2) that total more than $100,000 in a fiscal biennium.

SB77, s. 4542 Section 4542. 560.83 (4) (b) of the statutes is created to read:

SB77,1740,17 560.83 (4) (b) In any fiscal year, the board may not award to any one local development corporation grants or loans under sub. (2) that total more than $200,000.

SB77, s. 4543 Section 4543. 560.835 (1) (d) of the statutes is amended to read:

SB77,1740,20 560.835 (1) (d) The expansion, improvement or development of a diaper service, as defined in s. 234.67 (1) (am) business that supplies and launders cloth diapers.

SB77, s. 4544 Section 4544. 560.84 (1) (intro.) of the statutes is amended to read:

SB77,1740,25 560.84 (1) (intro.) The department or board may not award a grant or loan for a project under this subchapter unless, after considering the application or other material submitted by the eligible recipient or local development corporation, the department or board determines all of the following:

SB77, s. 4545 Section 4545. 560.84 (1) (e) (intro.) of the statutes is amended to read:

SB77,1741,4 560.84 (1) (e) (intro.) That the eligible recipient or local development corporation receiving the grant or loan will contribute, from a source or sources other than the state, whichever of the following applies:

SB77, s. 4546 Section 4546. 560.84 (1) (e) 3. of the statutes is created to read:

SB77,1741,7 560.84 (1) (e) 3. For a grant or loan funding a revolving fund project, a cash contribution of not less than 50% of the cost of the project.

SB77, s. 4547 Section 4547. 560.84 (2) (intro.) of the statutes is amended to read:

SB77,1741,11 560.84 (2) (intro.) The board or department shall consider all of the following before awarding a grant or loan to an eligible recipient or local development corporation for a project: