SB21: Bill Text

SB21,1457,15 general provisions

SB21,1457,16 235.01 Definitions. In this chapter:

SB21,1457,17 (1) "Authority" means the Forward Wisconsin Development Authority.

SB21,1457,18 (2) "Board" means the board of directors of the authority.

SB21,1457,23 235.011 Creation and organization. (1) There is created a public body corporate and politic, to be known as the "Forward Wisconsin Development Authority." The members of the board shall consist of 12 public members nominated by the governor, and with the advice and consent of the senate appointed, to serve 4-year terms. All members shall be employed in the private sector.

SB21,1458,2 (2) Seven members of the board constitutes a quorum for the purpose of conducting its business and exercising its powers and for all other purposes. Action may be taken by the board upon a vote of a majority of a quorum. The board shall elect a chairperson.

SB21,1458,4 (3) A vacancy on the board shall be filled in the same manner as the original appointment to the board for the remainder of the unexpired term.

SB21,1458,7 (4) (a) A chief executive officer shall be nominated by the governor, approved by the board, and with the advice and consent of the senate appointed, to serve at the pleasure of the governor.

SB21,1458,9 (b) A chief operating officer shall be nominated by the governor, and with the approval of the board appointed, to serve at the pleasure of the governor.

SB21,1458,13 (c) The board may delegate to the chief executive officer and chief operating officer any powers and duties the board considers proper. The chief executive officer and chief operating officer shall receive such compensation as may be determined by the board.

SB21,1458,16 (d) The governor shall coordinate with the chief executive officer as if the chief executive officer were the secretary of a department in the executive branch of state government who is appointed by the governor.

SB21,1458,19 (5) All powers and duties assigned to the authority under this chapter shall be exercised or carried out by the board, unless the board delegates the power or duty to an employee of the authority or a committee established by the board.

SB21,1458,22 235.012 Powers of the board. The board shall have all the powers necessary or convenient to carry out the purposes and provisions of this chapter. In addition to all other powers granted the board by law, the board may:

SB21,1458,24 (1) Adopt, amend, and repeal any bylaws, policies, and procedures for the regulation of its affairs and the conduct of its business.

SB21,1458,25 (2) Have a seal and alter the seal at pleasure.

SB21,1459,1 (3) Maintain offices.

SB21,1459,2 (4) Sue and be sued.

SB21,1459,4 (5) Accept gifts, grants, loans, or other contributions from private or public sources.

SB21,1459,6 (6) Establish the authority's annual budget and monitor the fiscal management of the authority.

SB21,1459,8 (7) Make equity investments and execute contracts, securities, mortgages, and other instruments required for the operation of the authority.

SB21,1459,10 (8) Employ any officers, agents, and employees that it may require and determine their qualifications, duties, and compensation.

SB21,1459,11 (9) Issue notes, bonds, and any other obligations.

SB21,1459,12 (10) Make loans and provide grants.

SB21,1459,13 (11) Incur debt.

SB21,1459,14 (12) Procure liability insurance.

SB21,1459,18 (13) Enter into agreements regarding compensation, space, and other administrative matters as are necessary to operate offices in other states and foreign countries. Such agreements shall be subject to the approval of the secretary of administration.

SB21,1459,20 (14) Agree and comply with any conditions attached to federal financial assistance.

SB21,1460,2 (15) Lease real or personal property and to accept federal funds for and participate in such federal housing programs as are enacted on May 4, 1976, or at any future time, except that the authority may not accept without the consent of the governor federal funds under federal housing programs enacted after May 8, 1982, if issuance of the authority's bonds or notes is not required to participate in the programs.

SB21,1460,3 (16) Establish and maintain a corporation organized under ch. 180 or 181.

SB21,1460,11 235.013 Duties of the board; mission. The board shall develop and implement economic development programs, and housing programs and projects, to provide business, housing, and other support and expertise and assistance to persons that are investing or creating jobs in Wisconsin, to support new business start-ups, business expansion and growth, and home ownership in Wisconsin, and to provide single and multifamily housing to persons and families of low and moderate income in Wisconsin. The board may also develop and implement any other programs and projects related to economic development or housing in Wisconsin.

SB21,3935 Section 3935. 235.0279 (3) of the statutes is created to read:

SB21,1460,16 235.0279 (3) Records consisting of information on the In Force Network or other similar customer relationship management system maintained by the authority, unless the information was published to the In Force Network or other system by the authority or another economic development organization.

SB21,3936 Section 3936. Subchapter II (title) of chapter 235 [precedes 235.03] of the statutes is created to read:

SB21,1460,19 chapter 235

SB21,1460,20 Subchapter iI

SB21,1460,21 Economic Development

SB21,3937 Section 3937. 235.03 (3) (ad), (ah), (ap) and (at) of the statutes are created to read:

SB21,1461,4 235.03 (3) (ad) That each recipient of a grant or loan under the program of at least $500,000 shall engage an independent certified public accountant to perform procedures, approved by the authority and consistent with applicable professional standards of the American Institute of Certified Public Accountants, to determine whether the grant or loan funds and any matching cash or in-kind match were expended in accordance with the grant or loan contract.

SB21,1461,6 (ah) That each recipient make available for inspection the documents supporting the attestation submitted under par. (a).

SB21,1461,8 (ap) That the contract with each grant or loan recipient shall include the requirements under pars. (a) to (ah).

SB21,1461,12 (at) The requirements of pars. (a) to (ap) do not apply to a department, as defined in s. 15.01 (5), an independent agency, as defined in s. 15.01 (9), an authority created under subch. II of ch. 114 or under ch. 231, 233, 235, 237, or 279, or the University of Wisconsin System.

SB21,3938 Section 3938. 235.137 of the statutes is created to read:

SB21,1461,18 235.137 Regional revolving loan fund grant program. From the appropriation under s. 20.885 (3) (am), and from moneys transferred by the authority from existing programs, the authority shall establish a regional revolving loan fund grant program. The authority shall establish policies and procedures relating to the program, including all of the following:

SB21,1461,20 (1) Grants shall be awarded to multicounty regions in proportionate amounts based upon the percentage of the state population residing within each region.

SB21,1461,22 (2) Grants shall be awarded only to regional organizations having sufficient private sector involvement, as determined by the authority.

SB21,1461,24 (3) The authority shall approve the structure, regional investment strategy, and administrative guidelines of regional loan funds.

SB21,1462,3 (4) Each regional organization awarded a grant shall, at a time determined by the authority, make a report to the authority containing information required by the authority.

SB21,1462,6 (5) For each regional organization awarded a grant, the authority may annually assess a fee as a percentage of the moneys managed to the extent necessary to reimburse the authority for costs incurred for oversight and management.

SB21,3939 Section 3939. 235.16 (6) of the statutes is created to read:

SB21,1462,9 235.16 (6) Sunset. The authority may not award any tax benefits under this section after June 30, 2015.

SB21,3940 Section 3940. 235.17 (1) (b) of the statutes is created to read:

SB21,1462,16 235.17 (1) (b) The authority may not certify a person for a tax credit under this subsection if the person is not subject to the taxes imposed under s. 71.02, 71.08, 71.23, or 71.43, except that the authority may certify a nonprofit entity described under section 501 (c) (3) of the Internal Revenue Code for a tax credit under this subsection if the entity intends to sell or otherwise transfer the credit, as provided under s. 71.07 (9m) (h), 71.28 (6) (h), or 71.47 (6) (h).

SB21,3941 Section 3941. 235.17 (2) of the statutes is created to read:

SB21,1462,19 235.17 (2) The authority may certify up to $10,000,000 in tax credits under sub. (1) in any calendar year.

SB21,3942 Section 3942. 235.17 (3) of the statutes is created to read:

SB21,1462,23 235.17 (3) In determining whether to certify a person for a tax credit under sub. (1), the authority shall consider all of the following with respect to the activity for which the tax credit is claimed:

SB21,1462,24 (a) The number of full-time jobs that may be created.

SB21,1463,2 (b) The anticipated benefit to the state of the activity relative to the cost to the state of the tax credit.

SB21,1463,3 (c) The projected impact of the activity on the local economy.

SB21,1463,5 (d) Whether the activity or investments associated with the activity would occur without the tax credit.

SB21,1463,7 (e) The number of tax credits that have been certified under sub. (1) in the same county or municipality in prior years.

SB21,3942d Section 3942d. 235.17 (4) of the statutes is created to read:

SB21,1463,16 235.17 (4) For 4 years following receipt of a tax credit under sub. (1), the original claimant shall report to the authority the total number of full-time jobs created by the activity for which the credit was claimed. The authority shall report to the department of revenue, at least once each calendar quarter, any claimant whose activity created fewer full-time jobs than projected under sub. (3) (a). The authority shall report to the department of revenue the name, address, and tax identification number of the claimant, and the number of full-time jobs projected and created.

SB21,3943 Section 3943. 235.17 (5) of the statutes is created to read:

SB21,1463,19 235.17 (5) The authority shall adopt policies and procedures for the administration of this section, including all of the following:

SB21,1463,20 (a) Process by which applicants may apply for certification under sub. (1).

SB21,1463,21 (b) Certification of the tax credit, in accordance with sub. (3).

SB21,1463,22 (c) Reporting requirements for certified claimants.

SB21,1463,23 (d) Process and criteria for revocation of certification.

SB21,3944 Section 3944. 235.30 (7) (e) of the statutes is created to read:

SB21,1464,2 235.30 (7) (e) In s. 235.308, "tax benefits" means the business development tax credit under ss. 71.07 (3y), 71.28 (3y), and 71.47 (3y).

SB21,3945 Section 3945. 235.303 (4) of the statutes is created to read:

SB21,1464,5 235.303 (4) Sunset. The corporation may not award any tax benefits under ss. 238.301 to 238.306 after June 30, 2015.

SB21,3946 Section 3946. 235.308 of the statutes is created to read:

SB21,1464,8 235.308 Business development tax credit. (1) Definition. In this section, "eligible position" means a full-time job offered by a person certified under sub. (2).

SB21,1464,10 (2) Certification. (a) The authority may certify a person to receive tax benefits under this section if all of the following apply:

SB21,1464,11 1. The person is operating or intends to operate a business in this state.

SB21,1464,13 2. The person applies under this section and enters into a contract with the authority.

SB21,1464,15 (b) The certification of a person under par. (a) may remain in effect for no more than 10 cumulative years.

SB21,1464,21 (3) Eligibility for tax benefits. A person is eligible to receive tax benefits if, in each year for which the person claims tax benefits under this section, the person increases net employment in this state in the person's business above the net employment in this state in the person's business during the year before the person was certified under sub. (2), as determined by the authority under its policies and procedures.

SB21,1464,23 (4) Awards, limits, expiration. (a) The authority may award all of the following tax benefits to a person certified under sub. (2):

SB21,1464,25 1. An amount equal to up to 10 percent of the amount of wages that the person paid to an employee in an eligible position in the taxable year.

SB21,1465,4 2. An amount equal to up to 5 percent of the amount of wages that the person paid to an employee in an eligible position in the taxable year, if the eligible position is offered at the claimant's business in an economically distressed area, as determined by the authority.

SB21,1465,9 3. An amount equal to up to 50 percent of the person's training costs incurred to undertake activities to enhance an employee's general knowledge, employability, and flexibility in the workplace; to develop skills unique to the person's workplace or equipment; or to develop skills that will increase the quality of the person's product.