AB725: Bill Text

AB725,17,10 (d) An accounting of the city's purchases from businesses located in a build Milwaukee initiative zone under sub. (4) (a).

AB725,17,12 (7) Subsections (3) and (4) do not apply before July 1, 2012, nor after June 30, 2016.

AB725, s. 9 Section 9. 238.14 of the statutes is created to read:

AB725,17,14 238.14 Build Milwaukee Initiative Zones. (1) In this section:

AB725,17,16 (a) "Build Milwaukee initiative zone" means a geographic area under sub. (2) (a), (b), (c), or (d).

AB725,17,18 (b) "Housing program" means a program or activity having the primary purpose of encouraging or supporting homeownership in this state.

AB725,17,19 (2) The build Milwaukee initiative zones are the following:

AB725,17,22 (a) The geographic area that comprises the following area comprehensive plans approved by the common council of the city of Milwaukee by ordinance 295-106, file number 100247:

AB725,17,23 1. Near west side comprehensive plan.

AB725,17,24 2. Washington Park comprehensive plan.

AB725,17,25 3. Fond du Lac and north comprehensive plan.

AB725,18,1 4. Northeast side comprehensive plan.

AB725,18,4 (b) The geographic area that comprises the northwest side comprehensive plan approved by the common council of the city of Milwaukee by ordinance 295-106, file number 100247.

AB725,18,7 (c) The geographic area that comprises the near south side comprehensive plan approved by the common council of the city of Milwaukee by ordinance 295-106, file number 100247.

AB725,18,10 (d) The geographic area that comprises the southeast side comprehensive plan approved by the common council of the city of Milwaukee by ordinance 295-106, file number 100247.

AB725,18,19 (3) The corporation, the Wisconsin Housing and Economic Development Authority, and the Wisconsin Health and Educational Facilities Authority, each in coordination with the others and in coordination with a county board under s. 59.83 (2) (b) and the build Milwaukee initiative councils under s. 62.79 (5), shall attempt to ensure that at least 10 percent of the total value of all loans, grants, tax benefits, and other financial assistance paid, awarded, or otherwise provided under economic development programs and housing programs by the corporation and those authorities is directed to economic development and homeownership in the build Milwaukee initiative zones.

AB725,18,25 (4) Annually, no later than March 1, the corporation, the Wisconsin Housing and Economic Development Authority, and the Wisconsin Housing and Educational Facilities Authority, each in coordination with the others, shall submit to the governor and to the chief clerk of each house of the legislature, for distribution to the legislature under s. 13.172 (2), and make available to the public, a joint report that details all of the following:

AB725,19,4 (a) For each build Milwaukee initiative zone, a list and description, including amounts, of all loans, grants, tax benefits, and other financial assistance that the corporation and those authorities directed to economic development and homeownership in that build Milwaukee initiative zone during the preceding year.

AB725,19,8 (b) An accounting of the total value of all loans, grants, tax benefits, and other financial assistance that the corporation and those authorities directed to economic development and homeownership in the build Milwaukee initiative zones during the preceding year.

AB725,19,12 (c) An accounting of the total value of all loans, grants, tax benefits, and other financial assistance that the corporation and those authorities paid, awarded, or otherwise provided under economic development programs and housing programs during the preceding year.

AB725,19,13 (5) Subsection (3) does not apply before July 1, 2012, nor after June 30, 2016.

AB725, s. 10 Section 10. 238.30 (7) (b) 2. of the statutes, as affected by 2011 Wisconsin Acts 32 and 37, is amended to read:

AB725,19,19 238.30 (7) (b) 2. With respect to the development opportunity zones under s. 238.395 (1) (g), (h), and (i), and (j), "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).

AB725, s. 11 Section 11. 238.395 (1) (j) of the statutes is created to read:

AB725,19,22 238.395 (1) (j) The build Milwaukee initiative zones under s. 238.14 (2) (a) to (d).

AB725, s. 12 Section 12. 238.395 (2) (a) of the statutes, as affected by 2011 Wisconsin Acts 32 and 37, is amended to read:

AB725,20,19 238.395 (2) (a) Except as provided in par. (d), the designation of each area under sub. (1) (a), (b), and (c) as a development opportunity zone shall be effective for 36 months, with the designation of the areas under sub. (1) (a) and (b) beginning on April 23, 1994, and the designation of the area under sub. (1) (c) beginning on April 28, 1995. Except as provided in par. (d), the designation of each area under sub. (1) (d) and (e) as a development opportunity zone shall be effective for 84 months, with the designation of the area under sub. (1) (d) beginning on January 1, 2000, and the designation of the area under sub. (1) (e) beginning on September 1, 2001. Except as provided in par. (d), the designation of the area under sub. (1) (f) as a development opportunity zone shall be effective for 108 months, beginning on September 1, 2001. Except as provided in pars. (d) and (e), the designation of each area under sub. (1) (g) and (h) as a development opportunity zone shall be effective for 60 months, beginning on the date on which the area is designated under sub. (1). Except as provided in pars. (d) and (e), the designation of the area under sub. (1) (i) shall be effective for 60 months, beginning on August 1, 2011. Except as provided in pars. (d) and (e), the designation of the area under sub. (1) (i) shall be effective for 60 months, beginning on August 1, 2011. Except as provided in pars. (d) and (e), the designation of the area under sub. (1) (j) as a development opportunity zone shall be effective for 48 months, beginning on July 1, 2012.

AB725, s. 13 Section 13. 238.395 (2) (b) 10. of the statutes is created to read:

AB725,20,22 238.395 (2) (b) 10. Except as provided in par. (e) 4., the limit for tax benefits for the development opportunity zone under sub. (1) (j) is $10,000,000.

AB725, s. 14 Section 14. 238.395 (2) (e) 4. of the statutes is created to read:

AB725,21,4 238.395 (2) (e) 4. The corporation may extend the designation of the area under sub. (1) (j) as a development opportunity zone for an additional 48 months if the corporation determines that an extension will support economic development within the city. If the corporation grants an extension under this subdivision, the limit for tax benefits for the development opportunity zone under sub. (1) (j) is increased by $10,000,000.

AB725, s. 15 Section 15. 238.395 (3) (a) 4. of the statutes, as affected by 2011 Wisconsin Acts 32 and 37, is amended to read:

AB725,21,12 238.395 (3) (a) 4. Any person that is conducting or that intends to conduct economic activity in a development opportunity zone under sub. (1) (e), (f), (g), (h), or (i), or (j) and that, in conjunction with the local governing body of the city in which the development opportunity zone is located, submits a project plan as described in par. (b) to the corporation shall be entitled to claim tax benefits while the area is designated as a development opportunity zone.

AB725, s. 16 Section 16 . Nonstatutory provisions.

AB725,21,17 (1) Initial appointments. Notwithstanding the lengths of terms specified in section 62.79 (2) (c) of the statutes, as created by this act, for each build Milwaukee initiative council, the initial members of the council shall be appointed for the following terms:

AB725,21,19 (a) One-third of the members appointed under section 62.79 (2) (c) of the statutes, as created by this act, for terms expiring on July 1, 2013.

AB725,21,21 (b) One-third of the members appointed under section 62.79 (2) (c) of the statutes, as created by this act, for terms expiring on July 1, 2014.

AB725,21,23 (c) One-third of the members appointed under section 62.79 (2) (c) of the statutes, as created by this act, for terms expiring on July 1, 2015.

AB725, s. 17 Section 17. Initial applicability.

AB725,22,3 (1) The treatment of sections 16.75 (1) (a) 1., (3p), and (10r) and 16.855 (1) and (10mm) of the statutes first applies to contracts entered into on July 1, 2012, or on the effective date of this subsection, whichever is later.

AB725,22,4 (End)