LRB-4563/1
PJK:jlg:km
1999 - 2000 LEGISLATURE
March 7, 2000 - Introduced by Representatives Hutchison, Schooff, Ladwig,
Boyle, F. Lasee, Schneider, Stone, Ziegelbauer, Owens, Waukau, Petrowski
and J. Lehman, cosponsored by Senators Burke, George, Plache, A. Lasee,
Moore, Welch, Baumgart, Jauch, Rosenzweig and Roessler. Referred to
Committee on Small Business and Economic Development.
AB841,1,3
1An Act to amend 560.745 (1) (a) and 560.745 (1) (b); and
to create 560.745 (1)
2(c) of the statutes;
relating to: duration of designation of area as development
3zone.
Analysis by the Legislative Reference Bureau
The department of commerce (department) administers the development zone
program. Generally, after the department designates an area as a development zone,
a person or corporation that conducts or intends to conduct economic activity in the
area may be certified by the department as eligible for certain tax credits. When the
department designates an area as a development zone, the department allocates to
that development zone a portion of $38,155,000, which is the total amount of tax
credits that may be claimed under the program.
Under current law, an area's designation as a development zone is effective for
seven years, with the possibility of up to five one-year extensions. The department
may withdraw an area's designation during that time, however, for various reasons
that are specified in the statutes, and an area's designation expires before that time
if the tax credits allocated to the development zone are used up. This bill extends the
time for which an area's designation as a development zone is effective to 20 years,
with the possibility of one five-year renewal. The reasons for withdrawing an area's
designation are not changed, and the total amount of tax credits that may claimed
under the program is not changed.
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:
AB841, s. 1
1Section
1. 560.745 (1) (a) of the statutes is amended to read:
AB841,2,42
560.745
(1) (a) The designation of an area as a development zone shall be
3effective for
84 240 months, beginning on the day the department notifies the local
4governing body under s. 560.725 (3) of the designation.
AB841, s. 2
5Section
2. 560.745 (1) (b) of the statutes is amended to read:
AB841,2,96
560.745
(1) (b) The local governing body may apply to the department for
up
7to 5 12-month extensions one 60-month extension of the designation. The
8department shall promulgate rules establishing criteria for approving an extension
9of a designation of an area as a development zone under this subsection.
AB841, s. 3
10Section
3. 560.745 (1) (c) of the statutes is created to read:
AB841,2,1411
560.745
(1) (c) Paragraphs (a) and (b) apply to designations of areas as
12development zones that are in effect on the effective date of this paragraph ....
13[revisor inserts date], or that are made on or after the effective date of this paragraph
14.... [revisor inserts date].
