AB40: Bill Text

AB40,1182,5 CHAPTER 490 Business assistance programs

AB40,1182,6 490.01 Definitions. In this chapter:

AB40,1182,7 (1) "Department" means the department of safety and professional services.

AB40,1182,8 (2) "Secretary" means the secretary of safety and professional services.

AB40, s. 3283 Section 3283. 551.403 (2) (a) 2. of the statutes is amended to read:

AB40,1182,11 551.403 (2) (a) 2. Institutional investors, except any institutional investor described in s. 551.102 (11) (k), (m), or (o).

AB40, s. 3284 Section 3284. 551.403 (2) (a) 2m. of the statutes is amended to read:

AB40,1182,14 551.403 (2) (a) 2m. Accredited investors as defined in Rule 501 (a) (1), (2), or (3), (7) or (8) adopted under the Securities Act of 1933.

AB40, s. 3285 Section 3285. Chapter 560 (title) of the statutes is repealed.

AB40, s. 3286 Section 3286. Subchapter I (title) of chapter 560 [precedes 560.001] of the statutes is repealed.

AB40, s. 3287 Section 3287. 560.001 of the statutes is repealed.

AB40, s. 3288 Section 3288. 560.01 (title), (1) and (2) of the statutes are repealed.

AB40, s. 3289 Section 3289. 560.01 (3) of the statutes is renumbered 238.04 (14) and amended to read:

AB40,1182,25 238.04 (14) Foreign office agreements. The department may enter Enter into agreements regarding compensation, space, and other administrative matters as are necessary to operate departmental offices in other states and foreign countries. Such agreements shall be subject to the approval of the secretary of administration.

AB40, s. 3290 Section 3290. 560.02 of the statutes is repealed.

AB40, s. 3291 Section 3291. 560.03 (title) of the statutes is repealed.

AB40, s. 3292 Section 3292. 560.03 (intro.) of the statutes is repealed.

AB40, s. 3293 Section 3293. 560.03 (1) of the statutes is repealed.

AB40, s. 3294 Section 3294. 560.03 (2) of the statutes is repealed.

AB40, s. 3295 Section 3295. 560.03 (3) of the statutes is repealed.

AB40, s. 3296 Section 3296. 560.03 (4) of the statutes is repealed.

AB40, s. 3297 Section 3297. 560.03 (4m) of the statutes is repealed.

AB40, s. 3298 Section 3298. 560.03 (5) of the statutes is repealed.

AB40, s. 3299 Section 3299. 560.03 (6) of the statutes is repealed.

AB40, s. 3300 Section 3300. 560.03 (8) of the statutes is repealed.

AB40, s. 3301 Section 3301. 560.03 (9) of the statutes is repealed.

AB40, s. 3302 Section 3302. 560.03 (10) of the statutes is repealed.

AB40, s. 3303 Section 3303. 560.03 (11) of the statutes is repealed.

AB40, s. 3304 Section 3304. 560.03 (16) of the statutes is repealed.

AB40, s. 3305 Section 3305. 560.03 (17) of the statutes is renumbered 238.25 and amended to read:

AB40,1183,22 238.25 Assistance to loan recipients. Assist The corporation shall assist new businesses and small businesses receiving economic development loans under s. 234.65 (1) (a) or the assistance of the Wisconsin Housing and Economic Development Authority in locating sources of venture capital and in obtaining the state and federal licenses and permits necessary for business operations.

AB40, s. 3306 Section 3306. 560.03 (18) of the statutes is repealed.

AB40, s. 3307 Section 3307. 560.03 (19) of the statutes is repealed.

AB40, s. 3308 Section 3308. 560.03 (20) of the statutes is repealed.

AB40, s. 3309 Section 3309. 560.03 (21) of the statutes is repealed.

AB40, s. 3310 Section 3310. 560.03 (22) of the statutes is repealed.

AB40, s. 3311 Section 3311. 560.03 (23) of the statutes is repealed.

AB40, s. 3312 Section 3312. 560.03 (25) of the statutes is repealed.

AB40, s. 3313 Section 3313. 560.03 (26) of the statutes is repealed.

AB40, s. 3314 Section 3314. 560.031 of the statutes is repealed.

AB40, s. 3315 Section 3315. 560.032 of the statutes is renumbered 238.10 and amended to read:

AB40,1184,16 238.10 Allocation of volume cap on tax-exempt bonds. (1) Allocation. The department, by rule, corporation shall establish under 26 USC 146 and administer a system for the allocation of the volume cap on the issuance of private activity bonds, as defined under 26 USC 141 (a), among all municipalities, as defined in s. 67.01 (5), and any corporation formed on behalf of those municipalities, and among this state, the Wisconsin Health and Educational Facilities Authority, the Wisconsin Aerospace Authority, and the Wisconsin Housing and Economic Development Authority.

AB40,1184,22 (2) Amendment to allocation. At any time prior to December 31 in any year, the department corporation may promulgate adopt rules to revise the allocation system established for that year under sub. (1), except that any revision under this subsection does not apply to any allocation under which the recipient of that allocation has adopted a resolution authorizing the issuance of a private activity bond, as defined in 26 USC 141 (a).

AB40,1185,2 (3) Conditions. The department corporation may establish, by rule, any procedure for, and place any condition upon, the granting of an allocation under this section which the department corporation deems to be in the best interest of the state including, but not limited to, a requirement that a cash deposit, at a rate established by the department in the rules corporation, be a condition for an allocation.

AB40,1185,5 (4) Certification. If the secretary corporation receives notice of the issuance of a bond under an allocation under subs. (1) to (3), the secretary corporation shall certify that that bond meets the requirements of 26 USC 146.

AB40, s. 3316 Section 3316. 560.033 of the statutes is repealed.

AB40, s. 3317 Section 3317. 560.0335 of the statutes is renumbered 490.02.

AB40, s. 3318 Section 3318. 560.034 of the statutes is renumbered 238.11, and 238.11 (1), (2), (3) and (5) (intro.), as renumbered, are amended to read:

AB40,1185,16 238.11 (1) The department corporation shall prescribe the notice forms to be used under ss. 66.1103 (4m) (a) 1. and 234.65 (3) (a). The department corporation shall include on the forms a requirement for information on the number of jobs the person submitting the notice expects to be eliminated, created, or maintained on the project site and elsewhere in this state by the project which is the subject of the notice. The department corporation shall prescribe the forms to be used under ss. 66.1103 (4m) (b) and 234.65 (3r).

AB40,1185,22 (2) If the department corporation receives a notice under s. 66.1103 (4m) (a), the department corporation shall estimate, no later than 20 days after receipt of the notice, whether the project which that is the subject of the notice is expected to eliminate, create, or maintain jobs on the project site and elsewhere in this state and the net number of jobs expected to be eliminated, created, or maintained as a result of the project.

AB40,1186,3 (3) If the department corporation receives a notice under s. 234.65 (3) (a), the department corporation shall estimate, no later than 20 days after receipt of the notice, whether the project which is the subject of the notice is expected to eliminate, create, or maintain jobs on the project site and elsewhere in this state and the net number of jobs expected to be eliminated, created, or maintained as a result of the project.

AB40,1186,4 (5) (intro.) The department corporation shall issue an estimate made:

AB40, s. 3319 Section 3319. 560.035 of the statutes is renumbered 490.03.

AB40, s. 3320 Section 3320. 560.036 of the statutes is renumbered 490.04.

AB40, s. 3321 Section 3321. 560.037 of the statutes is renumbered 490.06, and 490.06 (1) (intro.) of the statutes, as renumbered, is amended to read:

AB40,1186,11 490.06 (1) (intro.) Subject to sub. (3), the department may make grants from the appropriation under s. 20.143 20.165 (1) (fw) to the women's business initiative corporation to fund its operating costs if all of the following apply:

AB40, s. 3322 Section 3322. 560.04 of the statutes is repealed.

AB40, s. 3323 Section 3323. 560.045 of the statutes is repealed.

AB40, s. 3324 Section 3324. 560.047 of the statutes is repealed.

AB40, s. 3325 Section 3325. 560.05 of the statutes is repealed.

AB40, s. 3326 Section 3326. 560.07 of the statutes is repealed.

AB40, s. 3327 Section 3327. 560.075 of the statutes is renumbered 238.12, and 238.12 (2), as renumbered, is amended to read:

AB40,1187,2 238.12 (2) The department corporation may not award a grant or loan under this chapter to a person or certify a person to receive tax benefits unless the department corporation enters into an agreement with the person that requires the person to repay the grant, loan, or tax benefits if, within 5 years after receiving the grant or loan or being certified to receive tax benefits, the person ceases to conduct in this state the economic activity for which the person received the grant or loan or for which the person was certified to receive tax benefits and commences substantially the same economic activity outside this state.

AB40, s. 3328 Section 3328. 560.08 (1), (2) (intro.), (a), (b), (c), (d), (e), (f), (g), (h), (i) and (j) of the statutes are repealed.

AB40, s. 3329 Section 3329. 560.08 (2) (m) of the statutes is renumbered 238.26 and amended to read:

AB40,1187,10 238.26 Report to investment board. No later than September 30 of each even-numbered year, the corporation shall submit to the investment board a report describing the types of investments in businesses in this state which that will have the greatest likelihood of enhancing economic development in this state.

AB40, s. 3330 Section 3330. 560.081 of the statutes is repealed.

AB40, s. 3331 Section 3331. 560.082 of the statutes is repealed.

AB40, s. 3332 Section 3332. 560.09 of the statutes is repealed.

AB40, s. 3333 Section 3333. 560.097 of the statutes is renumbered 238.15 and amended to read:

AB40,1187,18 238.15 Notification of position openings; compliance. The department corporation shall monitor compliance with the position-opening notification requirements under ss. 66.1103 (6m) and 106.16.

AB40, s. 3334 Section 3334. 560.11 of the statutes is repealed.

AB40, s. 3335 Section 3335. 560.125 (title) and (1) to (3) of the statutes are renumbered 101.45 (title) and (1) to (3).

AB40, s. 3336 Section 3336. 560.125 (4) (a) to (e) of the statutes are renumbered 101.45 (4) (a) to (e), and 101.45 (4) (d), as renumbered, is amended to read:

AB40,1188,3 101.45 (4) (d) In any fiscal year, the department may not pay to any one applicant more than 20 percent of the amount appropriated under s. 20.143 (3) 20.165 (2) (sm) for the fiscal year.

AB40, s. 3337 Section 3337. 560.125 (4) (f) and (g) of the statutes are repealed.

AB40, s. 3338 Section 3338. 560.125 (5) to (6) of the statutes are renumbered 101.45 (5) to (6).

AB40, s. 3339 Section 3339. 560.126 of the statutes is repealed.

AB40, s. 3340 Section 3340. 560.128 of the statutes is repealed.

AB40, s. 3341 Section 3341. 560.13 (1), (2), (3), (5) and (6m) of the statutes are renumbered 238.13 (1), (2), (3), (5) and (6m), and 238.13 (2) (a) (intro.) and (b) 1., (3) (intro.) and (f) and (5), as renumbered, are amended to read: