SB205,13,2525 3. Recommend membership for committees the board establishes.
SB205,14,2
14. Assist the chairperson to identify qualified candidates to fill vacancies on the
2board.
SB205,14,43 5. Facilitate communication between the members of the board and the chief
4executive officer of the corporation.
SB205,33 5Section 33. 238.03 (2) (c) of the statutes is amended to read:
SB205,14,106 238.03 (2) (c) Require that each recipient of a grant or, loan, or allocation of a
7tax benefit
under the program submit a report to the corporation. Each contract with
8a recipient of a grant or, loan, or allocation of a tax benefit under the program must
9specify the frequency and format of the report to be submitted to the corporation and
10the performance measures to be included in the report.
SB205,34 11Section 34. 238.03 (2) (e) of the statutes is amended to read:
SB205,14,1412 238.03 (2) (e) Annually and independently verify, from a sample of grants and,
13loans, and allocated tax benefits the accuracy of the information required to be
14reported under par. (c).
SB205,35 15Section 35. 238.045 of the statutes is created to read:
SB205,14,20 16238.045 Establishment of nonprofit organization. (1) Definition. In this
17section, "nonprofit organization" means a nonprofit corporation, as defined in s.
18181.0103 (17), and any organization described in section 501 (c) (3) of the Internal
19Revenue Code that is exempt from federal income tax under section 501 (a) of the
20Internal Revenue Code.
SB205,14,22 21(2) Requirements. (a) The corporation may not establish a nonprofit
22organization except as provided in par. (b).
SB205,15,223 (b) 1. The chief executive officer of the corporation shall submit any plan for the
24corporation to establish a nonprofit organization to the joint committee on finance.

1That plan shall describe in detail the corporation's proposal to establish the nonprofit
2organization.
SB205,15,103 2. If, within 14 working days after the date the joint committee on finance
4receives the plan under subd. 1., the cochairpersons of the committee do not notify
5the chief executive officer of the corporation that the committee has scheduled a
6meeting to review the plan, the corporation may implement the plan. If, within 14
7working days after the date the committee receives the plan, the cochairpersons of
8the committee notify the chief executive officer that the committee has scheduled a
9meeting to review the plan, the corporation may implement the plan only upon
10approval by the committee.
SB205,36 11Section 36. 238.07 (2) (am) of the statutes is created to read:
SB205,15,1312 238.07 (2) (am) Quantifiable performance measures directly related to the
13purpose of the program including, when applicable, all of the following information:
SB205,15,1514 1. An accounting of the location, by municipality, of each job created or retained
15in the state in the previous fiscal year as a result of the program.
SB205,15,1716 2. An accounting of the industry classification, by municipality, of each job
17created or retained in the state as a result of the program.
SB205,37 18Section 37. 238.07 (2) (dm) of the statutes is created to read:
SB205,15,2119 238.07 (2) (dm) The total amount of tax benefits that the corporation allocated,
20and the total amount of tax benefits that the corporation verified to the department
21of revenue, under the program.
SB205,38 22Section 38. 238.07 (2) (fm) of the statutes is created to read:
SB205,15,2523 238.07 (2) (fm) An identification of each recipient of a tax benefit that was
24allocated by the corporation, and each recipient of a tax benefit that was verified by
25the corporation to the department of revenue, under the program.
SB205,39
1Section 39. 238.07 (2) (gm) of the statutes is created to read:
SB205,16,52 238.07 (2) (gm) The number of recipients of a grant, loan, or tax benefit under
3the program that satisfied the requirements under s. 238.03 (2) (c) and a list that
4identifies each recipient of a grant, loan, or tax benefit under the program that failed
5to satisfy those requirements.
SB205,40 6Section 40. 250.20 (1) (k) of the statutes is amended to read:
SB205,16,77 250.20 (1) (k) "State agency" has the meaning given in s. 16.70 (1e) 16.97 (1m).
SB205,41 8Section 41 . Nonstatutory provisions.
SB205,16,99 (1) Term limits; staggering of terms.
SB205,16,1310 (a) The current members of the board of directors of the Wisconsin Economic
11Development Corporation who are nominated by the governor shall no longer serve
12at the pleasure of the governor but shall have terms expiring as follows, in order from
13first to last based on the order in which the members were appointed:
SB205,16,14 141. The terms of 2 members shall expire on July 1, 2018.
SB205,16,15 152. The terms of 2 members shall expire on July 1, 2019.
SB205,16,16 163. The terms of 2 members shall expire on July 1, 2020.
SB205,16,2017 (b) The current member of the board of directors of the Wisconsin Economic
18Development Corporation who is employed in the private sector and appointed by the
19speaker of the assembly shall no longer serve at the pleasure of the speaker but shall
20have a term expiring on July 1, 2017.
SB205,16,2421 (c) The current member of the board of directors of the Wisconsin Economic
22Development Corporation who is employed in the private sector and appointed by the
23senate majority leader shall no longer serve at the pleasure of the majority leader but
24shall have a term expiring on July 1, 2017.
SB205,16,2525 (End)
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