AB40: Bill Text

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AB40, s. 3373 Section 3373. 560.21 of the statutes is repealed.

AB40, s. 3374 Section 3374. 560.25 of the statutes is repealed.

AB40, s. 3375 Section 3375. 560.255 of the statutes is repealed.

AB40, s. 3376 Section 3376. 560.27 of the statutes is repealed.

AB40, s. 3377 Section 3377. 560.275 of the statutes is repealed.

AB40, s. 3378 Section 3378. 560.276 of the statutes is repealed.

AB40, s. 3379 Section 3379. 560.277 of the statutes is repealed.

AB40, s. 3380 Section 3380. 560.28 of the statutes is repealed.

AB40, s. 3381 Section 3381. 560.285 of the statutes is repealed.

AB40, s. 3382 Section 3382. 560.29 of the statutes is repealed.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 Subchapter II (title) of chapter 560 [precedes 560.30] of the statutes is repealed.

AB40, s. 3384 Section 3384. 560.30 of the statutes is repealed.

AB40, s. 3385 Section 3385. 560.301 of the statutes is repealed.

AB40, s. 3386 Section 3386. 560.302 of the statutes is repealed.

AB40, s. 3387 Section 3387. 560.303 of the statutes is repealed.

AB40, s. 3388 Section 3388. 560.304 of the statutes is repealed.

AB40, s. 3389 Section 3389. 560.305 of the statutes is repealed.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 Subchapter III (title) of chapter 560 [precedes 560.41] of the statutes is repealed.

AB40, s. 3391 Section 3391. 560.41 of the statutes is repealed.

AB40, s. 3392 Section 3392. 560.42 of the statutes is repealed.

AB40, s. 3393 Section 3393. 560.43 of the statutes is repealed.

AB40, s. 3394 Section 3394. 560.44 of the statutes is repealed.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 Subchapter IV (title) of chapter 560 [precedes 560.51] of the statutes is repealed.

AB40, s. 3397 Section 3397. 560.51 of the statutes is repealed.

AB40, s. 3398 Section 3398. 560.53 of the statutes is repealed.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

AB40,1206,21 (3) Notice of eligibility. The department corporation shall provide to the person and to the department of revenue a notice of eligibility to receive tax benefits that reports the amount of tax benefits for which the person is eligible.

AB40, s. 3416 Section 3416. 560.704 of the statutes is renumbered 238.304, and 238.304 (intro.) and (1), as renumbered, are amended to read:

AB40,1207,3 238.304 Eligible activities in economically distressed areas and benefiting members of targeted groups. (intro.) The department corporation may authorize a person certified under s. 560.701 238.301 (2) to claim additional tax benefits under s. 560.703 238.303 if, after conducting an investigation, the department corporation determines any of the following:

AB40,1207,7 (1) The person conducts at least one eligible activity in an area designated by the department corporation as economically distressed. In designating an area as economically distressed under this subsection, the department corporation shall follow the methodology established by rule under s. 560.706 238.306 (2) (e).

AB40, s. 3417 Section 3417. 560.705 of the statutes is renumbered 238.305, and 238.305 (intro.), (1) and (2), as renumbered, are amended to read:

AB40,1207,11 238.305 Revocation of certification. (intro.) The department corporation shall revoke the certification of a person who does any of the following:

AB40,1207,13 (1) Supplies false or misleading information to obtain certification under s. 560.701 238.301 (2).

AB40,1207,15 (2) Supplies false or misleading information to obtain tax benefits under s. 560.703 238.303.

AB40, s. 3418 Section 3418. 560.706 of the statutes is renumbered 238.306, and 238.306 (intro.), (1) (a) and (b), (2) (a), (b), (c), (d), (e) (intro.), (f), (g), (h), (i) and (k) and (3), as renumbered, are amended to read:

AB40,1207,20 238.306 Responsibilities of the department corporation. (intro.) The department corporation shall do all of the following:

AB40,1207,23 (1) (a) Annually verify information submitted to the department of revenue under ss. 71.07 (2dy), 71.28 (1dy), 71.47 (1dy), and 76.637 by persons certified under s. 560.701 238.301 (2) and eligible to receive tax benefits under s. 560.703 238.303.

AB40,1207,25 (b) Notify and obtain written approval from the secretary chief executive officer of the corporation for any certification under sub. (2) (j).

AB40,1208,4 (2) (a) A schedule of hourly wage ranges to be paid, and health insurance benefits to be provided, to an employee by a person certified under s. 560.701 238.301 (2) and the corresponding per employee tax benefit for which a person certified under s. 560.701 238.301 (2) may be eligible.

AB40,1208,10 (b) A definition of "significant investment of capital" for purposes of s. 560.702 238.302 (2), together with a corresponding schedule of tax benefits for which a person who is certified under s. 560.701 238.301 (2) and who conducts a project described in s. 560.702 238.302 (2) may be eligible. The department corporation shall include in the definition required under this paragraph a schedule of investments that takes into consideration the size or nature of the business.

AB40,1208,14 (c) A definition of "significant investments in the training or reeducation of employees" for purposes of s. 560.702 238.302 (3), together with a corresponding schedule of tax benefits for which a person who is certified under s. 560.701 238.301 (2) and who conducts a project under s. 560.702 238.302 (3) may be eligible.

AB40,1208,17 (d) A schedule of tax benefits for which a person who is certified under s. 560.701 238.301 (2) and who conducts a project that will result in the location or retention of a person's corporate headquarters in Wisconsin may be eligible.

AB40,1208,21 (e) (intro.) The methodology for designating an area as economically distressed under s. 560.704 238.304 (1). The methodology under this paragraph shall require the department corporation to consider the most current data available for the area and for the state on the following indicators: