238.32 Application by local governing bodies.
238.325 Evaluation by corporation.
238.335 Boundaries and size of development zones.
238.34 Change in boundary and size of development zones.
238.345 Duration, renewal and expiration.
238.35 Additional duties of the corporation.
238.363 Duties of local governing bodies.
238.365 Certification for tax benefits.
238.368 Limits on tax benefit to certified person.
238.37 Revocation of certification.
238.38 Certification prohibited in certain cases.
238.385 Rules on eligibility for tax benefits.
238.395 Development opportunity zones.
238.397 Enterprise development zone program.
238.398 Agricultural development zone.
238.3995 Airport development zones.
GENERAL PROVISIONS
238.01
238.01
Definitions. In this chapter, except as otherwise provided:
238.01(1)
(1) "Board" means the board of directors of the corporation.
238.01(2)
(2) "Corporation" means the Wisconsin Economic Development Corporation.
238.01(3)
(3) "Economic development program" means a program or activity having the primary purpose of encouraging the establishment and growth of business in this state, including the creation and retention of jobs.
238.01 History
History: 2011 a. 7.
238.02
238.02
Creation and organization of corporation. 238.02(1)(1) There is created an authority, which is a public body corporate and politic, to be known as the "Wisconsin Economic Development Corporation." The members of the board shall consist of the governor, who shall serve as chairperson of the board, and 6 members nominated by the governor, and with the advice and consent of the senate appointed, to serve at the pleasure of the governor; 3 members appointed by the speaker of the assembly, consisting of one majority and one minority party representative to the assembly, appointed as are the members of standing committees in the assembly, and one person employed in the private sector, to serve at the speaker's pleasure; and 3 members appointed by the senate majority leader, consisting of one majority and one minority party senator, appointed as are members of standing committees in the senate, and one person employed in the private sector, to serve at the majority leader's pleasure. The secretary of administration and the secretary of revenue shall also serve on the board as nonvoting members.
238.02(2)
(2) A majority of the voting members of the board constitutes a quorum for the purpose of conducting its business and exercising its powers and for all other purposes, notwithstanding the existence of any vacancies. Action may be taken by the board upon a vote of a majority of the voting members present.
238.02(3)
(3) A chief executive officer shall be nominated by the governor, and with the advice and consent of the senate appointed, to serve at the pleasure of the governor. The board may delegate to the chief executive officer any powers and duties the board considers proper. The chief executive officer shall receive such compensation as may be determined by the board.
238.02(4)
(4) All powers and duties assigned to the corporation 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 corporation.
238.02 History
History: 2011 a. 7,
32.
238.03
238.03
Duties of board. 238.03(1)(1) The board shall develop and implement economic programs to provide business support and expertise and financial assistance to companies that are investing and creating jobs in Wisconsin and to support new business start-ups and business expansion and growth in Wisconsin. The board may also develop and implement any other programs related to economic development in Wisconsin.
238.03(2)
(2) For each program developed and implemented by the board, the board shall do all of the following:
238.03(2)(a)
(a) Establish clear and measurable goals for the program that are tied to statutory or programmatic policy objectives.
238.03(2)(b)
(b) Establish at least one quantifiable benchmark for each program goal described in
par. (a).
238.03(2)(c)
(c) Require that each recipient of a grant or loan under the program submit a report to the corporation. Each contract with a recipient of a grant or loan 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.
238.03(2)(d)
(d) Establish a method for evaluating the projected results of the program with actual outcomes as determined by evaluating the information described in
pars. (a) and
(b).
238.03(2)(e)
(e) Annually and independently verify, from a sample of grants and loans, the accuracy of the information required to be reported under
par. (c).
238.03(3)
(3) The board shall require for each program developed and implemented by the board all of the following:
238.03(3)(a)
(a) That each recipient of a grant or loan under the program of at least $100,000 submit to the corporation a verified statement describing the recipient's expenditure of the grant or loan funds, signed by both an independent certified public accountant and the director or principal officer of the recipient to attest to the accuracy of the verified statement. The board shall also require the recipient of such a grant or loan to make available for inspection the documents supporting the verified statement. The board must include the requirement in the contract with grant or loan recipients.
238.03(3)(b)
(b) That the board, if a recipient of a grant or loan under the program submits false or misleading information to the corporation or fails to comply with the terms of a contract entered into with the corporation, without providing satisfactory explanation for the noncompliance, do all of the following:
238.03(3)(b)2.
2. Withhold future payments to be made to the recipient.
238.03 History
History: 2011 a. 7.
238.04
238.04
Powers of 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 under this chapter, the board may specifically:
238.04(1)
(1) Adopt, amend, and repeal any bylaws, policies, and procedures for the regulation of its affairs and the conduct of its business.
238.04(2)
(2) Have a seal and alter the seal at pleasure.
238.04(5)
(5) Accept gifts, grants, loans, or other contributions from private or public sources.
238.04(6)
(6) Establish the corporation's annual budget and monitor the fiscal management of the corporation.
238.04(7)
(7) Execute contracts and other instruments required for the operation of the corporation.
238.04(8)
(8) Employ any officers, agents, and employees that it may require and determine their qualifications, duties, and compensation.
238.04(9)
(9) Issue notes, bonds, and any other obligations.
238.04(14)
(14) 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.
238.04 History
History: 2011 a. 7;
2011 a. 32 s.
3289.
238.05
238.05
Department of commerce assistance and coordination. 238.05(1)(1) If requested by the board, the department of commerce shall provide staff or other resources to assist the board in carrying out the purposes and provisions of this chapter.
238.05(2)
(2) To the greatest extent practicable, the department of commerce and the board shall seek to coordinate their economic development programs.
238.05 History
History: 2011 a. 7.
238.06
238.06
Liability limited. Neither the state nor any political subdivision of the state, nor any officer, employee, or agent of the state or a political subdivision of the state who is acting within the scope of employment or agency, is liable for any debt, obligation, act, or omission of the corporation.
238.06 History
History: 2011 a. 7.
238.07
238.07
Submission of annual reports to legislature. 238.07(1)(1) Annually, by January 1, the board shall submit to the chief clerk of each house of the legislature, for distribution to the legislature under
s. 13.172 (2), a report identifying the economic development projects that the board intends to develop and implement during the current calendar year.
238.07(2)
(2) Annually, no later than October l, the board shall submit to the joint legislative audit committee and the chief clerk of each house of the legislature, for distribution to the legislature under
s. 13.172 (2), a report for the previous fiscal year on each of the economic development programs of the corporation that contains all of the following:
238.07(2)(b)
(b) A comparison of expected and actual program outcomes.
238.07(2)(c)
(c) The number of grants made under the program.
238.07(2)(d)
(d) The number of loans made under the program.
238.07(2)(e)
(e) The amount of each grant and loan made under the program.
238.07(2)(f)
(f) The recipient of each grant or loan made under the program.
238.07(2)(g)
(g) The sum total of all grants and loans awarded to and received by each recipient under the program.
238.07(3)
(3) The board shall make readily accessible to the public on an Internet-based system the information required under
sub. (2).
238.07 History
History: 2011 a. 7.
238.08
238.08
Records of the corporation. All records of the corporation are open to the public as provided in
s. 19.35 (1) except those records relating to pending grants, loans, or economic development projects that, in the opinion of the corporation, must remain confidential to protect the competitive nature of the grant, loan, or project.
238.08 History
History: 2011 a. 32.
238.10
238.10
Allocation of volume cap on tax-exempt bonds. 238.10(1)(1)
Allocation. The corporation shall establish under
26 USC 146 and administer a system for the allocation of the volume cap on the issuance of private activity bonds, as defined under
26 USC 141 (a), among all municipalities, as defined in
s. 67.01 (5), and any corporation formed on behalf of those municipalities, and among this state, the Wisconsin Health and Educational Facilities Authority, the Wisconsin Aerospace Authority, and the Wisconsin Housing and Economic Development Authority.
238.10(2)
(2) Amendment to allocation. At any time prior to December 31 in any year, the corporation may adopt rules to revise the allocation system established for that year under
sub. (1), except that any revision under this subsection does not apply to any allocation under which the recipient of that allocation has adopted a resolution authorizing the issuance of a private activity bond, as defined in
26 USC 141 (a).
238.10(3)
(3) Conditions. The corporation may establish any procedure for, and place any condition upon, the granting of an allocation under this section which the corporation deems to be in the best interest of the state including a requirement that a cash deposit, at a rate established by the corporation, be a condition for an allocation.
238.10(4)
(4) Certification. If the corporation receives notice of the issuance of a bond under an allocation under
subs. (1) to
(3), the corporation shall certify that that bond meets the requirements of
26 USC 146.
238.10 History
History: 1987 a. 69,
403;
1989 a. 8;
1997 a. 27;
2005 a. 335;
2011 a. 32 s.
3315; Stats. 2011 s. 238.10.
238.11
238.11
Employment impact estimates.
