SB148: Bill Text

SB148,94 Section 94. 46.28 (1) (a) of the statutes is amended to read:

SB148,37,14 46.28 (1) (a) "Authority" means the Forward Wisconsin Housing and Economic Development Authority created under ch. 234 235.

SB148,95 Section 95. 46.28 (3) of the statutes is amended to read:

SB148,37,17 46.28 (3) The department may authorize the authority to issue revenue bonds under s. 234.61 235.61 to finance any residential facility it approves under sub. (2).

SB148,96 Section 96. 46.28 (4) of the statutes is amended to read:

SB148,37,21 46.28 (4) The department may charge sponsors for administrative costs and expenses it incurs in exercising its powers and duties under this section and under s. 234.61 235.61.

SB148,97 Section 97. 59.57 (1) (a) of the statutes is amended to read:

SB148,38,9 59.57 (1) (a) Subject to par. (b), the board may appropriate money for and create a county industrial development agency or to any nonprofit agency organized to engage or engaging in activities described in this paragraph, appoint an executive officer and provide a staff and facilities to promote and develop the resources of the county and of its component municipalities. To this end the agency may, without limitation because of enumeration, develop data regarding the industrial needs, advantages and sites in the county, acquaint the purchaser with the products of the county by promotional activities, coordinate its work with that of the county planning commission, the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority, and private credit development corporations, and do all things necessary to provide for the continued improvement of the industrial climate of the county.

SB148,98 Section 98. 60.23 (4) (c) of the statutes is amended to read:

SB148,38,13 60.23 (4) (c) Coordinate its activities with the county planning commission, the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority, and private credit development organizations.

SB148,99 Section 99. 66.1015 (2) (intro.) of the statutes is amended to read:

SB148,38,17 66.1015 (2) (intro.) This section does not prohibit a city, village, town, county, or housing authority or the Forward Wisconsin Housing and Economic Development Authority from doing any of the following:

SB148,100 Section 100. 66.1103 (4m) (a) 1. of the statutes is amended to read:

SB148,38,24 66.1103 (4m) (a) 1. The person, at least 30 days prior to entering into the revenue agreement, has given a notice of intent to enter into the agreement, on a form prescribed under s. 238.11   235.11 (1), to the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority and to any collective bargaining agent in this state with whom the person has a collective bargaining agreement.

SB148,101 Section 101. 66.1103 (4m) (a) 2. of the statutes is amended to read:

SB148,39,7 66.1103 (4m) (a) 2. The municipality or county has received an estimate issued under s. 238.11   235.11 (5), and the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority has estimated whether the project which the municipality or county would finance under the revenue agreement is expected to eliminate, create, or maintain jobs on the project site and elsewhere in this state and the net number of jobs expected to be eliminated, created, or maintained as a result of the project.

SB148,102 Section 102. 66.1103 (4m) (b) of the statutes is amended to read:

SB148,39,16 66.1103 (4m) (b) Any revenue agreement which an eligible participant enters into with a municipality or county to finance a project shall require the eligible participant to submit to the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority within 12 months after the project is completed or 2 years after a revenue bond is issued to finance the project, whichever is sooner, on a form prescribed under s. 238.11   235.11 (1), the net number of jobs eliminated, created, or maintained on the project site and elsewhere in this state as a result of the project.

SB148,103 Section 103. 66.1103 (4s) (a) 1. of the statutes is amended to read:

SB148,39,19 66.1103 (4s) (a) 1. "Corporation" "Authority" means the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority.

SB148,104 Section 104. 66.1103 (4s) (b) 3. of the statutes is amended to read:

SB148,39,25 66.1103 (4s) (b) 3. The employer shall certify compliance with this subsection to the corporation authority, to the governing body of each municipality or county within which a lost job exists and to any collective bargaining agent in this state with which the employer has a collective bargaining agreement at the project site or at a site where a lost job exists.

SB148,105 Section 105. 66.1103 (4s) (b) 4. of the statutes is amended to read:

SB148,40,7 66.1103 (4s) (b) 4. The employer shall submit a report to the corporation authority every 3 months during the first year after the construction of the project is completed. The reports shall provide information about new jobs, lost jobs, and offers of employment made to persons who were formerly employed at lost jobs. The 4th report shall be the final report. The form and content of the reports shall be prescribed by the corporation authority under par. (d).

SB148,106 Section 106. 66.1103 (4s) (d) of the statutes is amended to read:

SB148,40,10 66.1103 (4s) (d) The corporation authority shall administer this subsection and shall prescribe forms for certification and reports under par. (b).

SB148,107 Section 107. 66.1103 (10) (c) of the statutes is amended to read:

SB148,40,20 66.1103 (10) (c) A copy of the initial resolution together with a statement indicating when the public notice required under par. (b) was published shall be filed with the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority within 20 days following publication of notice. Prior to the closing of the bond issue, the corporation authority may require additional information from the eligible participant or the municipality or county. After the closing of the bond issue, the corporation authority shall be notified of the closing date, any substantive changes made to documents previously filed with the corporation authority, and the principal amount of the financing.

SB148,108 Section 108. 66.1103 (10) (g) of the statutes is amended to read:

SB148,41,2 66.1103 (10) (g) Bonds may not be issued unless prior to adoption of an initial resolution a document which provides a good faith estimate of attorney fees which will be paid from bond proceeds is filed with the clerk of the municipality or county and the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority.

SB148,109 Section 109. 66.1107 (2) (a) of the statutes is amended to read:

SB148,41,12 66.1107 (2) (a) Holding of a public hearing by the planning commission or by the local governing body at which interested parties are afforded a reasonable opportunity to express their views on the proposed designation and boundaries of a reinvestment neighborhood or area. Notice of the hearing shall be published as a class 2 notice, under ch. 985. Before publication, a copy of the notice shall be sent by 1st class mail to the Forward Wisconsin Housing and Economic Development Authority, and a copy shall be posted in each school building and in at least 3 other places of public assembly within the reinvestment neighborhood or area proposed to be designated.

SB148,110 Section 110. 66.1201 (16) (a) of the statutes is amended to read:

SB148,41,15 66.1201 (16) (a) In this subsection, "government" includes the Forward Wisconsin Housing and Economic Development Authority.

SB148,111 Section 111. 66.1205 (3) of the statutes is amended to read:

SB148,41,19 66.1205 (3) Subsection (1) (a) and (c) does not apply in the case of housing projects to the financing of which the Forward Wisconsin Housing and Economic Development Authority is a party, as to which ch. 234 235 shall be controlling.

SB148,112 Section 112. 66.1213 (7) (b) of the statutes is amended to read:

SB148,41,23 66.1213 (7) (b) As set down by the Forward Wisconsin Housing and Economic Development Authority in accordance with ch. 234 235 in the case of housing projects to the financing of which it is a party.

SB148,113 Section 113. 70.11 (4b) (b) of the statutes is amended to read:

SB148,42,2 70.11 (4b) (b) It is financed by the Housing and Economic Development Authority under s. 234.03 (13), 2013 stats.

SB148,114 Section 114. 70.11 (4b) (c) of the statutes is amended to read:

SB148,42,5 70.11 (4b) (c) The Housing and Economic Forward Wisconsin Development Authority holds a first-lien mortgage security interest on it.

SB148,115 Section 115. 70.11 (38r) of the statutes is amended to read:

SB148,42,11 70.11 (38r) Economic Development Corporation Forward Authority. All property owned by the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority, provided that use of the property is primarily related to the purposes of the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority.

SB148,116 Section 116. 71.05 (1) (c) 1. of the statutes is amended to read:

SB148,42,16 71.05 (1) (c) 1. The Wisconsin Housing and Economic Development Authority under s. 234.65, 2013 stats., if the bonds are used to fund an economic development loan to finance construction, renovation, or development of property that would be exempt under s. 70.11 (36).

SB148,117 Section 117. 71.05 (1) (c) 1m. of the statutes is amended to read:

SB148,42,22 71.05 (1) (c) 1m. The Wisconsin Housing and Economic Development Authority under s. 234.08, 2013 stats., or s. 234.61, 2013 stats., on or after January 1, 2004, or the Forward Wisconsin Development Authority under s. 235.02 or 235.61, if the bonds or notes are issued to fund multifamily affordable housing projects or elderly housing projects.

SB148,118 Section 118. 71.05 (1) (c) 10. a. of the statutes is amended to read:

SB148,43,3 71.05 (1) (c) 10. a. The bonds or notes are used to fund multifamily affordable housing projects or elderly housing projects in this state, and the Wisconsin Housing and Economic Development Authority under ch. 234, 2013 stats., or the Forward Wisconsin Development Authority has the authority to issue its bonds or notes for the project being funded.

SB148,119 Section 119. 71.05 (1) (c) 12. of the statutes is amended to read:

SB148,43,8 71.05 (1) (c) 12. The Wisconsin Housing and Economic Development Authority or the Forward Wisconsin Development Authority, if the bonds or notes are issued to provide loans to a public affairs network under s. 234.75 (4), 2013 stats., or s. 235.75 (4).

SB148,120 Section 120. 71.07 (2dm) (a) 1. of the statutes is amended to read:

SB148,43,14 71.07 (2dm) (a) 1. "Certified" means entitled under s. 235.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 235.395 (5), 235.398 (5), or 235.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (5), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats.

SB148,121 Section 121. 71.07 (2dm) (a) 3. of the statutes is amended to read:

SB148,43,20 71.07 (2dm) (a) 3. "Development zone" means a development opportunity zone under   s. 235.395 (1) (e) and (f) or 235.398 or s. 238.395 (1) (e) and (f), 2013 stats., or s. 238.398, 2013 stats., or s. 560.795 (1) (e) and (f), 2009 stats., or s. 560.798, 2009 stats., or an airport development zone under s. 235.3995 or s. 238.3995, 2013 stats., or s. 560.7995, 2009 stats.

SB148,122 Section 122. 71.07 (2dm) (a) 4. of the statutes is amended to read:

SB148,44,6 71.07 (2dm) (a) 4. "Previously owned property" means real property that the claimant or a related person owned during the 2 years prior to the department of commerce or the Wisconsin Economic Development Corporation or the Forward Wisconsin Development Authority designating the place where the property is located as a development zone and for which the claimant may not deduct a loss from the sale of the property to, or an exchange of the property with, the related person under section 267 of the Internal Revenue Code, except that section 267 (b) of the Internal Revenue Code is modified so that if the claimant owns any part of the property, rather than 50% ownership, the claimant is subject to section 267 (a) (1) of the Internal Revenue Code for purposes of this subsection.

SB148,123 Section 123. 71.07 (2dm) (f) 1. of the statutes is amended to read:

SB148,44,12 71.07 (2dm) (f) 1. A copy of the verification that the claimant may claim tax benefits under s. 235.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., or is certified under s. 235.395 (5), 235.398 (3), or 235.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (3) , 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats.

SB148,124 Section 124. 71.07 (2dm) (f) 2. of the statutes is amended to read:

SB148,44,17 71.07 (2dm) (f) 2. A statement from the department of commerce or the Wisconsin Economic Development Corporation or the Forward Wisconsin Development Authority verifying the purchase price of the investment and verifying that the investment fulfills the requirements under par. (b).

SB148,125 Section 125. 71.07 (2dm) (i) of the statutes is amended to read:

SB148,45,8 71.07 (2dm) (i) Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, that credit shall be determined on the basis of their economic activity, not that of their shareholders, partners, or members. The corporation, partnership, or limited liability company shall compute the amount of credit that may be claimed by each of its shareholders, partners, or members and provide that information to its shareholders, partners, or members. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit based on the partnership's, company's, or corporation's activities in proportion to their ownership interest and may offset it against the tax attributable to their income from the partnership's, company's, or corporation's business operations in the development zone; except that partners, members, and shareholders in a development zone under s. 235.395 (1) (e) or s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., may offset the credit against the amount of the tax attributable to their income.

SB148,126 Section 126. 71.07 (2dm) (j) of the statutes is amended to read:

SB148,45,22 71.07 (2dm) (j) If a person who is entitled under s. 235.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits becomes ineligible for such tax benefits, or if a person's certification under s. 235.395 (5), 235.398 (3), or 235.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., is revoked, that person may claim no credits under this subsection for the taxable year that includes the day on which the person becomes ineligible for tax benefits, the taxable year that includes the day on which the certification is revoked, or succeeding taxable years, and that person may carry over no unused credits from previous years to offset tax under this chapter for the taxable year that includes the day on which the person becomes ineligible for tax benefits, the taxable year that includes the day on which the certification is revoked, or succeeding taxable years.

SB148,127 Section 127. 71.07 (2dm) (k) of the statutes is amended to read:

SB148,46,7 71.07 (2dm) (k) If a person who is entitled under s. 235.395 (3) (a) 4. or s. 238.395 (3) (a) 4., 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 235.395 (5), 235.398 (3), or 235.3995 (4) or s. 238.395 (5), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., ceases business operations in the development zone during any of the taxable years that that zone exists, that person may not carry over to any taxable year following the year during which operations cease any unused credits from the taxable year during which operations cease or from previous taxable years.

SB148,128 Section 128. 71.07 (2dx) (a) 2. of the statutes is amended to read:

SB148,46,15 71.07 (2dx) (a) 2. "Development zone" means a development zone under s. 235.30 or s. 238.30, 2013 stats., or s. 560.70, 2009 stats., a development opportunity zone under s. 235.395 or s. 238.395, 2013 stats., or s. 560.795, 2009 stats., an enterprise development zone under s. 235.397 or s. 238.397, 2013 stats., or s. 560.797, 2009 stats., an agricultural development zone under s. 235.398 or s. 238.398, 2013 stats., or s. 560.798, 2009 stats., or an airport development zone under s. 235.3995 or s. 238.3995, 2013 stats., or s. 560.7995, 2009 stats.

SB148,129 Section 129. 71.07 (2dx) (a) 4. of the statutes is amended to read:

SB148,46,18 71.07 (2dx) (a) 4. "Full-time job" has the meaning given in s. 238.30 235.30 (2m).

SB148,130 Section 130. 71.07 (2dx) (b) (intro.), 2., 3., 4. and 5. of the statutes are amended to read:

SB148,47,4 71.07 (2dx) (b) Credit. (intro.) Except as provided in pars. (be) and (bg) and in s. 73.03 (35), and subject to s. 235.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., for any taxable year for which the person is entitled under s. 235.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., to claim tax benefits or certified under s. 235.365 (3). 235.397 (4), 235.398 (3), or 235.3995 or s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., any person may claim as a credit against the taxes otherwise due under this chapter the following amounts:

SB148,47,9 2. The amount determined by multiplying the amount determined under s. 235.385 (1) (b) or s. 238.385 (1) (b), 2013 stats., or s. 560.785 (1) (b), 2009 stats., by the number of full-time jobs created in a development zone and filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB148,47,14 3. The amount determined by multiplying the amount determined under s. 235.385 (1) (c) or s. 238.385 (1) (c), 2013 stats., or s. 560.785 (1) (c), 2009 stats., by the number of full-time jobs created in a development zone and not filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB148,47,22 4. The amount determined by multiplying the amount determined under s. 235.385 (1) (bm) or s. 238.385 (1) (bm), 2013 stats., or s. 560.785 (1) (bm), 2009 stats., by the number of full-time jobs retained, as provided in the rules under s. 235.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., excluding jobs for which a credit has been claimed under sub. (2dj), in an enterprise development zone under s. 235.397 or s. 238.397, 2013 stats., or s. 560.797, 2009 stats., and for which significant capital investment was made and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB148,48,4 5. The amount determined by multiplying the amount determined under s. 235.385 (1) (c) or s. 238.385 (1) (c), 2013 stats., or s. 560.785 (1) (c), 2009 stats., by the number of full-time jobs retained, as provided in the rules under s. 235.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., excluding jobs for which a credit has been claimed under sub. (2dj), in a development zone and not filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB148,131 Section 131. 71.07 (2dx) (be) of the statutes is amended to read:

SB148,48,11 71.07 (2dx) (be) Offset. A claimant in a development zone under s. 235.395 (1) (e) or s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., may offset any credits claimed under this subsection, including any credits carried over, against the amount of the tax otherwise due under this subchapter attributable to all of the claimant's income and against the tax attributable to income from directly related business operations of the claimant.

SB148,132 Section 132. 71.07 (2dx) (bg) of the statutes is amended to read:

SB148,48,24 71.07 (2dx) (bg) Other entities. For claimants in a development zone under s. 235.395 (1) (e) or s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and amount of, that credit shall be determined on the basis of their economic activity, not that of their shareholders, partners, or members. The corporation, partnership, or company shall compute the amount of the credit that may be claimed by each of its shareholders, partners, or members and shall provide that information to each of its shareholders, partners, or members. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit based on the partnership's, company's, or corporation's activities in proportion to their ownership interest and may offset it against the tax attributable to their income.

SB148,133 Section 133. 71.07 (2dx) (c) of the statutes is amended to read:

SB148,49,13 71.07 (2dx) (c) Credit precluded. If the certification of a person for tax benefits under s. 235.365 (3), 235.397 (4), 235.398 (3), or 235.3995 (4) or s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., is revoked, or if the person becomes ineligible for tax benefits under s. 235.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., that person may not claim credits under this subsection for the taxable year that includes the day on which the certification is revoked; the taxable year that includes the day on which the person becomes ineligible for tax benefits; or succeeding taxable years and that person may not carry over unused credits from previous years to offset tax under this chapter for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the person becomes ineligible for tax benefits; or succeeding taxable years.

SB148,134 Section 134. 71.07 (2dx) (d) of the statutes is amended to read:

SB148,49,24 71.07 (2dx) (d) Carry-over precluded. If a person who is entitled under s. 235.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., to claim tax benefits or certified under s. 235.365 (3), 235.397 (4), 235.398 (4), or 235.3995 (4) or s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., for tax benefits ceases business operations in the development zone during any of the taxable years that that zone exists, that person may not carry over to any taxable year following the year during which operations cease any unused credits from the taxable year during which operations cease or from previous taxable years.

SB148,135 Section 135. 71.07 (2dy) (a) of the statutes is amended to read:

SB148,50,4 71.07 (2dy) (a) Definition. In this subsection, "claimant" means a person who files a claim under this subsection and is certified under s. 235.301 (2) or s. 238.301 (2), 2013 stats., or s. 560.701 (2), 2009 stats., and authorized to claim tax benefits under s. 235.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats.

SB148,136 Section 136. 71.07 (2dy) (b) of the statutes is amended to read: