560.35(1)(d)
(d) The investment date for the investment pool of which the certified capital will be a part.
560.35(1m)
(1m) Violation of agreements by qualified businesses. As soon as practicable after the receipt of information by the certified capital company that a qualified business has violated an agreement made under
s. 560.34 (1) (b) to
(e), the certified capital company shall notify the department of the violation and the facts giving rise to the violation.
560.35(2)
(2) Annual reports. On or before January 31 annually, a certified capital company shall report all of the following to the department:
560.35(2)(a)
(a) The amount of the certified capital company's certified capital at the end of the preceding year.
560.35(2)(b)
(b) Whether the certified capital company has invested more than 15% of its total certified capital in any one person.
560.35(2)(c)
(c) All qualified investments that the certified capital company has made during the previous calendar year and the investment pool from which each qualified investment was made.
560.35(3)
(3) Financial statements. Within 90 days of the end of the certified capital company's fiscal year, the certified capital company shall provide to the department a copy of its annual audited financial statements, including the opinion of an independent certified public accountant. The audit shall address the methods of operation and conduct of the business of the certified capital company to determine whether the certified capital company is complying with this subchapter and the rules promulgated under this subchapter, including whether certified capital has been invested in the manner required under
s. 560.34. The financial statements provided under this subsection shall be segregated by investment pool and shall be separately audited on that basis to allow the department to determine whether the certified capital company is in compliance with
s. 560.34 (1m).
560.35(4)
(4) Fees. On or before January 31 annually, a certified capital company shall pay a nonrefundable certification fee of $5,000 to the department, unless January 31 falls within 6 months of the date on which the certified capital company was certified under
s. 560.31.
560.35(5)
(5) Exemption from rights of inspection and copying. If the department determines that a document submitted by a certified capital company under this section contains a trade secret, as defined in
s. 134.90 (1) (c) or a business secret, that document is not subject to the right of inspection and copying under
s. 19.35.
560.35 History
History: 1997 a. 215.
560.36
560.36
Distributions. A certified capital company may make a distribution only if one of the following conditions is met:
560.36(1)
(1) Qualified distribution. The distribution is a qualified distribution.
560.36(2)
(2) Written determination. The department made a written determination that the distribution may be made without adversely affecting the ability of the certified capital company to place, in qualified investments, an amount equal to 100% of the certified capital in the investment pool from which the distribution is to be made.
560.36(3)
(3) Placement of 100% of investments in qualified investments. The certified capital company has placed in qualified investments an amount equal to 100% of the certified capital investments in the investment pool.
560.36(4)
(4) Debt payments. The distribution is a payment of principal or interest owed to a debt holder of a certified capital company, even if the debt holder is also a holder of equity and even if the indebtedness is a certified capital investment.
560.36 History
History: 1997 a. 215.
560.37
560.37
Compliance reviews; decertification; disqualification. 560.37(1)(1)
Annual compliance review. The department shall conduct an annual review of each certified capital company to determine if the certified capital company is complying with the requirements of this subchapter, to advise the certified capital company regarding the status of its investments as qualified investments and to ensure that no investment has been made in violation of this subchapter. The cost of the annual review shall be paid by each certified capital company according to a reasonable fee schedule adopted by the department.
560.37(2)
(2) Disqualification of an investment pool. Any material violation of
s. 560.34 (1m) is a ground for disqualification of the noncomplying investment pool. If the department determines that the certified capital company is not in compliance with
s. 560.34 (1m) with respect to an investment pool, it shall send a written notice to the certified capital company and the commissioner of insurance stating that the investment pool has been disqualified.
560.37(3)
(3) Decertification of a certified capital company. Any material violation of
s. 560.34 (2),
(3) or
(4) or
560.35 (1),
(2),
(3) or
(4) is a ground for decertification of the noncomplying certified capital company. If the department determines that the certified capital company is not in compliance with
s. 560.34 (2),
(3) or
(4) or
560.35 (1),
(2),
(3) or
(4), the department shall send a written notice to the certified capital company that the certified capital company may be subject to decertification in 120 days from the date on which the notice was mailed, unless the certified capital company brings itself into full compliance with
ss. 560.34 (2),
(3) or
(4) and
560.35 (1),
(2),
(3) and
(4). If at the end of the 120-day period the certified capital company is not in compliance with
ss. 560.34 (2),
(3) or
(4) and
560.35 (1),
(2),
(3) and
(4), the department shall send a notice to the certified capital company and the commissioner of insurance stating that the certified capital company has been decertified.
560.37(3m)(a)(a) A certified capital company may voluntary decertify itself as a certified capital company if any of the following conditions are met:
560.37(3m)(a)1.
1. It has been at least 10 years since the last certified capital investment was made in the certified capital company.
560.37(3m)(a)2.
2. The certified capital company has placed in qualified investments an amount equal to 100% of the certified capital investment in the certified capital company.
560.37(3m)(b)
(b) A certified capital company wishing to decertify itself under this subsection shall send a notice to the department certifying that it is eligible for decertification under
par. (a). The decertification is effective on the date that the notice under this paragraph is received by the department.
560.37(4)
(4) Effect of decertification. Decertification of a certified capital company or an investment pool has the effects specified in
s. 76.635 (4).
560.37(5)
(5) Notices to certified investors. The department shall notify a certified investor when the certified capital company tax credit arising from a certified investment is no longer subject to recapture and forfeiture under
s. 76.635 (4).
560.37 History
History: 1997 a. 215.
560.38
560.38
Department evaluation of program. Beginning on March 31, 2000, and on March 31 of each even-numbered year thereafter, the department shall submit a report to the legislature under
s. 13.172 (2) regarding the program under this subchapter. The report shall include all of the following:
560.38(1)
(1) The total amount of certified capital investments made during the previous 2 calendar years, as well as the total amount of certified capital investments made since July 1, 1999.
560.38(2)
(2) Statistical information on the qualified investments made by certified capital companies during the previous 2 calendar years.
560.38(3)
(3) The department's assessment of the number of jobs created in this state during the previous 2 calendar years as a result of the certified capital company program under this subchapter.
560.38 History
History: 1997 a. 215.
BUSINESS DEVELOPMENT ASSISTANCE CENTER
560.41
560.41
Definitions. In this subchapter:
560.41(1)
(1) "Brownfields" means abandoned, idle or underused industrial or commercial facilities or sites, the expansion or redevelopment of which is adversely affected by actual or perceived environmental contamination.
560.41(1m)
(1m) "Center" means the business development assistance center in the department.
560.41(2)
(2) "Permit" means any approval of a regulatory agency required as a condition of operating a business in this state.
560.41(3)
(3) "Regulatory agency" means any state agency responsible for granting a permit.
560.42
560.42
Responsibilities related to permits. 560.42(1)(a)(a) The center shall expedite the process of applying for permits, of reviewing and making determinations on permit applications and of issuing permits as follows:
560.42(1)(a)1.
1. The center shall discharge its responsibilities under
sub. (2) in a manner designed to expedite the process.
560.42(1)(a)2.
2. Upon request by a person applying for a permit and to the extent possible, the center shall resolve misunderstandings between the person and the appropriate regulatory agency and shall prevent or mitigate delays in the process.
560.42(1)(a)3.
3. If the center determines that it is unable to resolve misunderstandings or prevent or mitigate delays under
subd. 2., the center shall request the assistance of the secretary and the head of the appropriate regulatory agency.
560.42(1)(a)4.
4. If the center determines that the secretary and head of the appropriate regulatory agency are unable to resolve misunderstandings or prevent or mitigate delays under
subd. 3., the center shall request the assistance of the governor.
560.42(1)(b)
(b) The center shall give priority to businesses new to this state and to businesses expanding within this state in providing assistance under
par. (a).
560.42(1)(c)
(c) The center shall maintain records identifying each person requesting assistance under
par. (a) and setting forth assistance rendered and results achieved.
560.42(2)(a)(a) The center shall assist any person requesting information on which permits are required for a particular business activity or on the application process, including criteria applied in making a determination on a permit application and the time period within which a determination will be made. This assistance may include any of the following:
560.42(2)(a)1.
1. Arranging a meeting between the person and the staff of the appropriate regulatory agency to enable the person to obtain information from the agency.
560.42(2)(a)2.
2. Obtaining information and permit applications from the regulatory agency and providing the information and appropriate permit applications to the person.
560.42(2)(b)
(b) If a person receives assistance under this subsection and applies for a permit and if the person requests, the center shall monitor the status of the permit application and periodically report the status to the person.
560.42(2m)
(2m) Advocacy. The center shall provide advocacy services before regulatory agencies on behalf of permit applicants. These services shall include all of the following:
560.42(2m)(a)
(a) Monitoring the application approval process to ensure that permits are granted in the shortest amount of time possible consistent with the substantive requirements established by rule or law.
560.42(2m)(b)
(b) Advocating legislative changes to improve and expedite the issuance of permits.
560.42(2r)
(2r) Mediation and dispute resolution services. The center may provide mediation or other dispute resolution services to facilitate the resolution of a dispute between a regulatory agency and a person applying for a permit. The provision of mediation or other dispute resolution services under this subsection does not affect any right that the person may have to a contested hearing under
ch. 227.
560.42(3)(a)(a) The center may charge for services provided under this subchapter. Any amount charged for services may not exceed the actual cost of the service provided, unless a specific charge for the service, or method of calculating the charge, is provided by law. All amounts received under this paragraph shall be deposited in the appropriation account under
s. 20.143 (1) (gc).
560.42(3)(b)
(b) The center may refer to the appropriate regulatory agency, without giving further assistance, any person seeking information or assistance on a permit under
chs. 186,
215,
217,
220 to
224,
440 to
480 and
600 to
646.
560.42(3)(c)
(c) Advice, assistance, mediation or other dispute resolution services or information rendered by the center under this subchapter does not relieve any person from the obligation to secure a required permit or satisfy a regulatory requirement.
560.42(3)(d)
(d) The center shall not be liable for any consequences resulting from the failure of a regulatory agency to issue, or the failure of a person to seek, a permit.
560.42(4)(a)(a) The center shall maintain and publicize the availability of a toll-free telephone line available to in-state and out-of-state callers to the center.
560.42(4)(b)
(b) The center shall seek to explain, promote and publicize its services to the public and shall provide information on its services for inclusion in any public informational material on permits provided by regulatory agencies.
560.42(4)(c)
(c) The center shall, in its efforts under
pars. (a) and
(b), clearly represent that its services are advisory, informational and facilitative only.
560.42(5)
(5) Report. Beginning in 2003 and biennially thereafter, the center shall prepare a report describing its activities under this section since the period covered in the previous report. The department shall submit the report with the report required under
s. 560.55. The report may include recommendations for the legislature, governor, public records board, and regulatory agencies on simplifying the process of applying for permits, of reviewing and making determinations on permit applications, and of issuing permits, and shall include information on the number of requests for assistance, the types of assistance provided, and the center's success in resolving conflicts in permit application and review processes.
560.43
560.43
Responsibilities of regulatory agencies. 560.43(1)(1)
Interagency cooperation. Each regulatory agency shall:
560.43(1)(a)
(a) Designate a staff person to coordinate regulatory agency cooperation with center staff, provide information to center staff on the permit process and direct center staff to appropriate staff within the regulatory agency.
560.43(1)(b)
(b) Cooperate with center staff and respond promptly to requests for assistance in expediting and requests for information on the permit process under
s. 560.42.
560.43(1)(c)
(c) Include material provided by the center under
s. 560.42 (4) in any public informational material on permits that it provides.
560.43(1)(d)
(d) Maintain responsibility for interpreting the requirements of and granting or denying its permits.
560.43(1)(e)
(e) In reviewing a submitted application for a permit, notify the applicant of all reasons the application is incomplete or incorrectly submitted at the first time the agency returns the application to the applicant.
560.43(1)(f)
(f) Periodically review and, if appropriate, revise its administrative rules and its permit applications to simplify and expedite the processing of permit applications.
560.43(1)(g)
(g) Provide to the center written notification of a change to a permit, along with a copy of the new or revised permit, before the effective date of the change.
560.43(2)
(2) Preapplication meetings. Each regulatory agency shall provide an opportunity for a preapplication meeting with its staff to any person interested in applying for a permit upon request by the person or the center, and shall comply with the following requirements:
560.43(2)(a)
(a) The regulatory agency shall conduct preapplication meetings in an informal manner.
560.43(2)(b)
(b) In any preapplication meeting, the regulatory agency shall identify all permits required by the regulating agency for a business activity, describe the steps and identify the time period for each step in the permit process and identify potential problems in the process.
560.43(2)(d)
(d) The regulatory agency shall invite participation by center staff in preapplication meetings when appropriate.
560.43(2)(e)
(e) The regulatory agency shall publicize the availability of preapplication meetings to persons contacting them about permits.
560.44
560.44
Responsibilities related to brownfields redevelopment projects. 560.44(1)(1)
Ombudsman. The center shall act as an ombudsman for brownfields redevelopment projects. As ombudsman, the center shall do all of the following:
560.44(1)(a)
(a) Promote brownfields redevelopment projects and related educational efforts.
560.44(1)(b)
(b) Coordinate interagency activities and responsibilities related to brownfields redevelopment projects.
