AB40: Bill Text

AB40,1197,7 93.535 Dairy manufacturing facility investment credit. (1) The department of commerce shall implement a program to certify taxpayers, including taxpayers who are members of dairy cooperatives, as eligible for the dairy manufacturing facility investment credit under ss. 71.07 (3p), 71.28 (3p), and 71.47 (3p).

AB40,1197,19 (2) If the department of commerce certifies a taxpayer under sub. (1), the department of commerce shall determine the amount of credits to allocate to that taxpayer. The total amount of dairy manufacturing facility investment credits allocated to taxpayers in fiscal year 2007-08 may not exceed $600,000 and the total amount of dairy manufacturing facility investment credits allocated to taxpayers who are not members of dairy cooperatives in fiscal year 2008-09, and in each fiscal year thereafter, may not exceed $700,000. The total amount of dairy manufacturing facility investment credits allocated to taxpayers who are members of dairy cooperatives in fiscal year 2009-10 may not exceed $600,000 and the total amount of dairy manufacturing facility investment credits allocated to taxpayers who are members of dairy cooperatives in fiscal year 2010-11, and in each fiscal year thereafter, may not exceed $700,000.

AB40,1197,22 (3) The department of commerce shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.

AB40,1197,24 (4) The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section.

AB40, s. 3370 Section 3370. 560.208 of the statutes is renumbered 238.19 and amended to read:

AB40,1198,6 238.19 Meat processing facility investment credit. (1) The department of commerce corporation shall implement a program to certify taxpayers as eligible for the meat processing facility investment credit under ss. 71.07 (3r), 71.28 (3r), and 71.47 (3r).

AB40,1198,13 (2) If the department of commerce corporation certifies a taxpayer under sub. (1), the department of commerce corporation shall determine the amount of credits to allocate to that taxpayer. The total amount of meat processing facility investment credits allocated to taxpayers in fiscal year 2009-10 may not exceed $300,000 and the total amount of meat processing facility investment credits allocated to taxpayers in fiscal year 2010-11, and in each fiscal year thereafter, may not exceed $700,000.

AB40,1198,16 (3) The department of commerce corporation shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.

AB40,1198,18 (4) The department of commerce corporation, in consultation with the department of revenue, shall promulgate adopt rules to administer this section.

AB40, s. 3371 Section 3371. 560.2085 of the statutes is renumbered 238.20, and 238.20 (1) (intro.), (2) and (3), as renumbered, are amended to read:

AB40,1199,2 238.20 (1) (intro.) The department corporation shall implement a program to certify qualified new business ventures for purposes of s. 71.05 (24). A business desiring certification shall submit an application to the department corporation in each taxable year for which the business desires certification. Subject to sub. (2), a business may be certified under this subsection, and may maintain such certification, only if the business is engaged in one of the following:

AB40,1199,7 (2) The department corporation may not certify a business under sub. (1) if the business is engaged in real estate development, insurance, banking, lending, lobbying, political consultation, professional services provided by attorneys, accountants, business consultants, physicians, or health care consultants, wholesale or retail sales, leisure, hospitality, transportation, or construction.

AB40,1199,10 (3) (a) The department corporation shall maintain a list of businesses certified under sub. (1) and shall permit public access to the lists through the department's corporation's Internet Web site.

AB40,1199,13 (b) The department of commerce corporation shall notify the department of revenue of every certification issued under sub. (1) and the date on which a certification under sub. (1) is revoked or expires.

AB40, s. 3372 Section 3372. 560.209 of the statutes is renumbered 238.21 and amended to read:

AB40,1199,19 238.21 Woody biomass harvesting and processing credit. (1) The department of commerce corporation shall implement a program to certify taxpayers as eligible for the woody biomass harvesting and processing credit under ss. 71.07 (3rm), 71.28 (3rm), and 71.47 (3rm).

AB40,1200,2 (2) If the department of commerce corporation certifies a taxpayer under sub. (1), the department of commerce corporation shall determine the amount of credits to allocate to that taxpayer. The total amount of woody biomass harvesting and processing credits allocated to taxpayers in any fiscal year may not exceed $900,000. In each fiscal year, the department of commerce corporation shall allocate $450,000 in tax credits to businesses that, individually, have no more than $5,000,000 in gross receipts from doing business in this state for the taxable year in which the credit is claimed.

AB40,1200,5 (3) The department of commerce corporation shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.

AB40,1200,7 (4) The department of commerce corporation, in consultation with the department of revenue, shall promulgate adopt rules to administer this section.

AB40, s. 3373 Section 3373. 560.21 of the statutes is repealed.

AB40, s. 3374 Section 3374. 560.25 of the statutes is repealed.

AB40, s. 3375 Section 3375. 560.255 of the statutes is repealed.

AB40, s. 3376 Section 3376. 560.27 of the statutes is repealed.

AB40, s. 3377 Section 3377. 560.275 of the statutes is repealed.

AB40, s. 3378 Section 3378. 560.276 of the statutes is repealed.

AB40, s. 3379 Section 3379. 560.277 of the statutes is repealed.

AB40, s. 3380 Section 3380. 560.28 of the statutes is repealed.

AB40, s. 3381 Section 3381. 560.285 of the statutes is repealed.

AB40, s. 3382 Section 3382. 560.29 of the statutes is repealed.

AB40, s. 3383 Section 3383. Subchapter II (title) of chapter 560 [precedes 560.30] of the statutes is repealed.

AB40, s. 3384 Section 3384. 560.30 of the statutes is repealed.

AB40, s. 3385 Section 3385. 560.301 of the statutes is repealed.

AB40, s. 3386 Section 3386. 560.302 of the statutes is repealed.

AB40, s. 3387 Section 3387. 560.303 of the statutes is repealed.

AB40, s. 3388 Section 3388. 560.304 of the statutes is repealed.

AB40, s. 3389 Section 3389. 560.305 of the statutes is repealed.

AB40, s. 3390 Section 3390. Subchapter III (title) of chapter 560 [precedes 560.41] of the statutes is repealed.

AB40, s. 3391 Section 3391. 560.41 of the statutes is repealed.

AB40, s. 3392 Section 3392. 560.42 of the statutes is repealed.

AB40, s. 3393 Section 3393. 560.43 of the statutes is repealed.

AB40, s. 3394 Section 3394. 560.44 of the statutes is repealed.

AB40, s. 3395 Section 3395. 560.45 of the statutes is renumbered 490.05, and 490.05 (1), as renumbered, is amended to read:

AB40,1201,11 490.05 (1) The department may award a grant from the appropriations under s. 20.143 20.165 (1) (ie), (ig), (im), and (ir) to a business for innovation and research assistance.

AB40, s. 3396 Section 3396. Subchapter IV (title) of chapter 560 [precedes 560.51] of the statutes is repealed.

AB40, s. 3397 Section 3397. 560.51 of the statutes is repealed.

AB40, s. 3398 Section 3398. 560.53 of the statutes is repealed.

AB40, s. 3399 Section 3399. 560.54 of the statutes is repealed.

AB40, s. 3400 Section 3400. Subchapter V (title) of chapter 560 [precedes 560.60] of the statutes is repealed.

AB40, s. 3401 Section 3401. 560.60 of the statutes is repealed.

AB40, s. 3402 Section 3402. 560.602 of the statutes is repealed.

AB40, s. 3403 Section 3403. 560.605 of the statutes is repealed.

AB40, s. 3404 Section 3404. 560.607 of the statutes is repealed.

AB40, s. 3405 Section 3405. 560.61 of the statutes is repealed.

AB40, s. 3406 Section 3406. 560.68 of the statutes is repealed.

AB40, s. 3407 Section 3407. Subchapter VI (title) of chapter 560 [precedes 560.70] of the statutes is repealed.

AB40, s. 3408 Section 3408. 560.70 (intro.), (2), (2g), (2m), (3), (4), (4m), (5), (6) and (7) of the statutes are renumbered 238.30 (intro.), (2), (2g), (2m), (3), (4), (4m), (5), (6) and (7), and 238.30 (intro.), (2g), (2m) (b), (4) and (7) (b) 1. and 2., (c) and (d), as renumbered, are amended to read:

AB40,1202,8 238.30 Definitions. (intro.) In this section and ss. 560.71 to 560.795 238.31 to 238.395:

AB40,1202,9 (2g) "Eligible activity" means an activity described under s. 560.702 238.302.

AB40,1202,16 (2m) (b) The department may by rule specify corporation may adopt a rule specifying circumstances under which the department corporation may grant exceptions to the requirement under par. (a) that a full-time job means a job in which an individual, as a condition of employment, is required to work at least 2,080 hours per year, but under no circumstances may a full-time job mean a job in which an individual, as a condition of employment, is required to work less than 37.5 hours per week.

AB40,1202,19 (4) "Local governing body" means the governing body of one or more cities, villages, towns, or counties or the elected governing body of a federally recognized American Indian tribe or band in this state.

AB40,1202,25 (7) (b) 1. Except as provided in subd. 2., in s. 560.795 238.395, "tax benefits" means the development zones investment credit under ss. 71.07 (2di), 71.28 (1di), and 71.47 (1di) and the development zones credit under ss. 71.07 (2dx), 71.28 (1dx), 71.47 (1dx), and 76.636. With respect to the development opportunity zones under s. 560.795 238.395 (1) (e) and (f), "tax benefits" also means the development zones capital investment credit under ss. 71.07 (2dm), 71.28 (1dm), and 71.47 (1dm).

AB40,1203,4 2. With respect to the development opportunity zones under s. 560.795 238.395 (1) (g) and (h), "tax benefits" means the development zone credits under ss. 71.07 (2dx), 71.28 (1dx), 71.47 (1dx), and 76.636 and the development zones capital investment credit under ss. 71.07 (2dm), 71.28 (1dm), and 71.47 (1dm).

AB40,1203,7 (c) In s. 560.798 238.398, "tax benefits" means the development zones capital investment credit under ss. 71.07 (2dm), 71.28 (1dm), and 71.47 (1dm) and the development zones credits under ss. 71.07 (2dx), 71.28 (1dx), 71.47 (1dx), and 76.636.

AB40,1203,10 (d) In ss. 560.701 to 560.706 238.301 to 238.306, "tax benefits" means the economic development tax credit under ss. 71.07 (2dy), 71.28 (1dy), 71.47 (1dy), and 76.637.

AB40, s. 3409 Section 3409. 560.70 (1) of the statutes is repealed.

AB40, s. 3410 Section 3410. 560.701 of the statutes is renumbered 238.301, and 238.301 (1) (intro.) and (e), (2) (a) and (b) and (3) (intro.), (b), (c), (d) and (f), as renumbered, are amended to read:

AB40,1203,17 238.301 (1) Application. (intro.) Any person may apply to the department corporation on a form prepared by the department corporation for certification under this section. The application shall include all of the following:

AB40,1203,19 (e) Other information required by the department corporation or the department of revenue.

AB40,1203,23 (2) (a) The department corporation may certify a person who submits an application under sub. (1) if, after conducting an investigation, the department corporation determines that the person is conducting or intends to conduct at least one eligible activity.

AB40,1203,25 (b) The department corporation shall provide a person certified under this section and the department of revenue with a copy of the certification.

AB40,1204,3 (3) Contract. (intro.) A person certified under this section shall enter into a written contract with the department corporation. The contract shall include provisions that detail all of the following:

AB40,1204,6 (b) Whether any of the eligible activities will occur in an economically distressed area, as designated by the department corporation under s. 560.704 238.304 (1).

AB40,1204,8 (c) Whether any of the eligible activities will benefit members of a targeted group, as determined by the department corporation under s. 560.704 238.304 (2).

AB40,1204,11 (d) A compliance schedule that includes a sequence of anticipated actions to be taken or goals to be achieved by the person before the person may receive tax benefits under s. 560.703 238.303.

AB40,1204,13 (f) If feasible, a determination of the tax benefits the person will be authorized to claim under s. 560.703 238.303 (2) if the person fulfills the terms of the contract.

AB40, s. 3411 Section 3411. 560.702 of the statutes is renumbered 238.302, and 238.302 (intro.), (1), (2) and (3), as renumbered, are amended to read:

AB40,1204,17 238.302 Eligible activities. (intro.) A person who conducts or proposes to conduct any of the following may be certified under s. 560.701 238.301 (2):

AB40,1204,20 (1) Job creation project. A project that creates and maintains for a period of time established by the department corporation by rule full-time jobs in addition to any existing full-time jobs provided by the person.

AB40,1204,24 (2) Capital investment project. A project that involves a significant investment of capital, as defined by the department corporation by rule under s. 560.706 238.306 (2) (b), by the person in new equipment, machinery, real property, or depreciable personal property.

AB40,1205,4 (3) Employee training project. A project that involves significant investments in the training or reeducation of employees, as defined by the department corporation by rule under s. 560.706 238.306 (2) (c), by the person for the purpose of improving the productivity or competitiveness of the business of the person.

AB40, s. 3412 Section 3412. 560.703 (title) of the statutes is renumbered 238.303 (title).

AB40, s. 3413 Section 3413. 560.703 (1) (a) of the statutes, as affected by 2011 Wisconsin Act 4, is renumbered 238.303 (1) (a) and amended to read:

AB40,1205,14 238.303 (1) (a) Except as provided in pars. (am) and (b), and subject to a reallocation by the department corporation pursuant to rules promulgated adopted under s. 560.205 238.15 (3) (d), the total tax benefits available to be allocated by the department corporation under ss. 560.701 to 560.706 238.301 to 238.306 may not exceed the sum of the tax benefits remaining to be allocated under ss. s. 560.71 to 560.785, 2009 stats., s. 560.797, 2009 stats., s. 560.798, 2009 stats., s. 560.7995, 2009 stats., and s. 560.96, 2009 stats., on March 6, 2009, plus $25,000,000.

AB40, s. 3414 Section 3414. 560.703 (1) (am) of the statutes, as created by 2011 Wisconsin Act 4, is renumbered 238.303 (1) (am) and amended to read:

AB40,1206,3 238.303 (1) (am) Before the department corporation allocates the additional $25,000,000 in tax benefits specified in par. (a), the department corporation shall submit its plan for such allocation to the joint committee on finance. If the cochairpersons of the committee do not notify the department corporation within 14 working days after the date of the department's corporation's submittal that the committee has scheduled a meeting for the purpose of reviewing the plan, the plan may be implemented and the additional amount may be allocated as proposed by the department corporation. If, within 14 working days after the date of the department's corporation's submittal, the cochairpersons of the committee notify the department corporation that the committee has scheduled a meeting for the purpose of reviewing the proposed plan, the plan may be implemented and the additional amount allocated only upon approval of the committee.

AB40, s. 3415 Section 3415. 560.703 (1) (b), (2) and (3) of the statutes are renumbered 238.303 (1) (b), (2) and (3) and amended to read:

AB40,1206,11 238.303 (1) (b) The department corporation may submit to the joint committee on finance a request in writing to exceed the total tax benefits specified in par. (a). The department corporation shall submit with its request a justification for seeking an increase under this paragraph. The joint committee on finance, following its review, may approve or disapprove an increase in the total tax benefits available to be allocated under ss. 560.701 to 560.706 238.301 to 238.306.

AB40,1206,18 (2) Authority to claim tax benefits. The department corporation may authorize a person certified under s. 560.701 238.301 (2) to claim tax benefits only after the person has submitted a report to the department corporation that documents to the satisfaction of the department corporation that the person has complied with the terms of the contract under s. 560.701 238.301 (3) and the requirements of any applicable rules promulgated adopted under s. 560.706 238.306 (2).