SB205: Bill Text

SB205,32 Section 32. 238.02 (1r) of the statutes is created to read:

SB205,13,21 238.02 (1r) (a) The board shall establish a governance committee. The governance committee shall consist of the lead director and two other members who shall be elected by the board from the members of the board nominated by the governor or the members appointed by the speaker of the assembly and senate majority leader who are employed in the private sector, or both.

SB205,13,22 (b) The governance committee shall do all of the following:

SB205,13,23 1. Develop governance principles for the board's oversight of the corporation.

SB205,13,24 2. Oversee the board's operations.

SB205,13,25 3. Recommend membership for committees the board establishes.

SB205,14,2 4. Assist the chairperson to identify qualified candidates to fill vacancies on the board.

SB205,14,4 5. Facilitate communication between the members of the board and the chief executive officer of the corporation.

SB205,33 Section 33. 238.03 (2) (c) of the statutes is amended to read:

SB205,14,10 238.03 (2) (c) Require that each recipient of a grant or, loan, or allocation of a tax benefit under the program submit a report to the corporation. Each contract with a recipient of a grant or, loan, or allocation of a tax benefit under the program must specify the frequency and format of the report to be submitted to the corporation and the performance measures to be included in the report.

SB205,34 Section 34. 238.03 (2) (e) of the statutes is amended to read:

SB205,14,14 238.03 (2) (e) Annually and independently verify, from a sample of grants and, loans, and allocated tax benefits the accuracy of the information required to be reported under par. (c).

SB205,35 Section 35. 238.045 of the statutes is created to read:

SB205,14,20 238.045 Establishment of nonprofit organization. (1) Definition. In this section, "nonprofit organization" means a nonprofit corporation, as defined in s. 181.0103 (17), and any organization described in section 501 (c) (3) of the Internal Revenue Code that is exempt from federal income tax under section 501 (a) of the Internal Revenue Code.

SB205,14,22 (2) Requirements. (a) The corporation may not establish a nonprofit organization except as provided in par. (b).

SB205,15,2 (b) 1. The chief executive officer of the corporation shall submit any plan for the corporation to establish a nonprofit organization to the joint committee on finance. That plan shall describe in detail the corporation's proposal to establish the nonprofit organization.

SB205,15,10 2. If, within 14 working days after the date the joint committee on finance receives the plan under subd. 1., the cochairpersons of the committee do not notify the chief executive officer of the corporation that the committee has scheduled a meeting to review the plan, the corporation may implement the plan. If, within 14 working days after the date the committee receives the plan, the cochairpersons of the committee notify the chief executive officer that the committee has scheduled a meeting to review the plan, the corporation may implement the plan only upon approval by the committee.

SB205,36 Section 36. 238.07 (2) (am) of the statutes is created to read:

SB205,15,13 238.07 (2) (am) Quantifiable performance measures directly related to the purpose of the program including, when applicable, all of the following information:

SB205,15,15 1. An accounting of the location, by municipality, of each job created or retained in the state in the previous fiscal year as a result of the program.

SB205,15,17 2. An accounting of the industry classification, by municipality, of each job created or retained in the state as a result of the program.

SB205,37 Section 37. 238.07 (2) (dm) of the statutes is created to read:

SB205,15,21 238.07 (2) (dm) The total amount of tax benefits that the corporation allocated, and the total amount of tax benefits that the corporation verified to the department of revenue, under the program.

SB205,38 Section 38. 238.07 (2) (fm) of the statutes is created to read:

SB205,15,25 238.07 (2) (fm) An identification of each recipient of a tax benefit that was allocated by the corporation, and each recipient of a tax benefit that was verified by the corporation to the department of revenue, under the program.

SB205,39 Section 39. 238.07 (2) (gm) of the statutes is created to read:

SB205,16,5 238.07 (2) (gm) The number of recipients of a grant, loan, or tax benefit under the program that satisfied the requirements under s. 238.03 (2) (c) and a list that identifies each recipient of a grant, loan, or tax benefit under the program that failed to satisfy those requirements.

SB205,40 Section 40. 250.20 (1) (k) of the statutes is amended to read:

SB205,16,7 250.20 (1) (k) "State agency" has the meaning given in s. 16.70 (1e) 16.97 (1m).

SB205,41 Section 41 . Nonstatutory provisions.

SB205,16,9 (1) Term limits; staggering of terms.

SB205,16,13 (a) The current members of the board of directors of the Wisconsin Economic Development Corporation who are nominated by the governor shall no longer serve at the pleasure of the governor but shall have terms expiring as follows, in order from first to last based on the order in which the members were appointed:

SB205,16,14 1. The terms of 2 members shall expire on July 1, 2018.

SB205,16,15 2. The terms of 2 members shall expire on July 1, 2019.

SB205,16,16 3. The terms of 2 members shall expire on July 1, 2020.

SB205,16,20 (b) The current member of the board of directors of the Wisconsin Economic Development Corporation who is employed in the private sector and appointed by the speaker of the assembly shall no longer serve at the pleasure of the speaker but shall have a term expiring on July 1, 2017.

SB205,16,24 (c) The current member of the board of directors of the Wisconsin Economic Development Corporation who is employed in the private sector and appointed by the senate majority leader shall no longer serve at the pleasure of the majority leader but shall have a term expiring on July 1, 2017.

SB205,16,25 (End)