238.133(2)(a)(a) The corporation shall administer a program to award brownfield site assessment grants from the appropriation under
s. 20.192 (1) (s) to local governmental units for the purposes of conducting any of the eligible activities under
sub. (3).
238.133(2)(b)
(b) The corporation may not award a grant to a local governmental unit under this section if that local governmental unit caused the environmental contamination that is the basis for the grant request.
238.133(2)(c)
(c) The corporation may only award grants under this section if the person that caused the environmental contamination that is the basis for the grant request is unknown, cannot be located or is financially unable to pay the cost of the eligible activities.
238.133(2)(d)
(d) The corporation shall establish criteria as necessary to administer the program. The corporation may limit the total amount of funds that may be used to cover the costs of each category of eligible activity described in
sub. (3).
238.133(3)
(3) Eligible activities. The corporation may award grants to local governmental units to cover the costs of the following activities:
238.133(3)(a)
(a) The investigation of environmental contamination on an eligible site or facility for the purposes of reducing or eliminating environmental contamination.
238.133(3)(b)
(b) The demolition of any structures, buildings or other improvements located on an eligible site or facility.
238.133(3)(c)
(c) The removal of abandoned containers, as defined in
s. 292.41 (1), from an eligible site or facility.
238.133(3)(d)
(d) Asbestos abatement activities, as defined in
s. 254.11 (2), conducted as part of activities described in
par. (b) on an eligible site or facility.
238.133(3)(e)
(e) The removal of underground hazardous substance storage tank systems.
238.133(3)(f)
(f) The removal of underground petroleum product storage tank systems.
238.133(4)
(4) Application for grant. The applicant shall submit an application on a form prescribed by the corporation and shall include any information that the corporation finds necessary to calculate the amount of a grant.
238.133(5)
(5) Grant criteria. The corporation shall consider the following criteria when determining whether to award a grant:
238.133(5)(a)
(a) The local governmental unit's demonstrated commitment to performing and completing necessary environmental remediation activities on the eligible site, including the local governmental unit's financial commitment.
238.133(5)(b)
(b) The degree to which the project will have a positive impact on public health and the environment.
238.133(5)(c)
(c) Other criteria that the corporation finds necessary to calculate the amount of a grant.
238.133(6)
(6) Limitation of grant. The total amount of all grants awarded to a local governmental unit in a fiscal year under this section shall be limited to an amount equal to 15% of the available funds appropriated under
s. 20.192 (1) (s) for the fiscal year.
238.133(7)
(7) Matching funds. The corporation may not distribute a grant unless the applicant contributes matching funds equal to 20% of the grant. Matching funds may be in the form of cash or in-kind contribution or both.
238.133 History
History: 1999 a. 9;
2001 a. 16,
30;
2011 a. 32 s.
2990r; Stats. 2011 s. 238.133.
238.135
238.135
Grants to regional economic development organizations. The corporation shall award annual grants to regional economic development organizations to fund marketing activities. The amount of each grant may not exceed $100,000 or the amount of matching funds the organization obtains from sources other than the corporation or the state, whichever is less.
238.135 History
History: 2011 a. 32.
238.145
238.145
Wisconsin-source assets exclusion; business certification. 238.145(1)(1) The corporation shall implement a program to certify businesses for purposes of
s. 71.05 (25). A business shall submit an application to the corporation in each calendar year for which the business desires certification.
238.145(2)
(2) The corporation may certify a business if, in the business's taxable year ending immediately before the date of the business's application, all of the following are true:
238.145(2)(a)
(a) The amount of payroll compensation paid by the business in this state, as determined by the corporation, is equal to at least 50 percent of the amount of all payroll compensation paid by the business, as determined by the corporation.
238.145(2)(b)
(b) The value of real and tangible personal property owned or rented and used by the business in this state, as determined by the corporation, is equal to at least 50 percent of the value of all real and tangible personal property owned or rented and used by the business, as determined by the corporation.
238.145(3)
(3) The corporation shall notify the department of revenue of every certification issued under this section and of the date on which a certification is revoked or expires.
238.145(4)
(4) The corporation, in consultation with the department of revenue, may adopt rules for the administration of this section.
238.145(5)
(5) The corporation shall compile a list of businesses certified under this section and the taxable years for which the businesses are certified and shall make the list available to the public at the corporation's Internet Web site.
238.145 History
History: 2011 a. 32.
238.146
238.146
Long-term Wisconsin capital assets deferral; business certification. 238.146(1)
(1) The corporation shall implement a program to certify businesses for purposes of
s. 71.05 (26). A business shall submit an application to the corporation in each calendar year for which the business desires certification.
238.146(2)
(2) The corporation may certify a business if, in the business's taxable year ending immediately before the date of the business's application, all of the following are true:
238.146(2)(a)
(a) The amount of payroll compensation paid by the business in this state, as determined by the corporation, is equal to at least 50 percent of the amount of all payroll compensation paid by the business, as determined by the corporation.
238.146(2)(b)
(b) The value of real and tangible personal property owned or rented and used by the business in this state, as determined by the corporation, is equal to at least 50 percent of the value of all real and tangible personal property owned or rented and used by the business, as determined by the corporation.
238.146(3)
(3) The corporation shall notify the department of revenue of every certification issued under this section and of the date on which a certification is revoked or expires.
238.146(4)
(4) The corporation, in consultation with the department of revenue, may adopt rules for the administration of this section.
238.146(5)
(5) The corporation shall compile a list of businesses certified under this section and the taxable years for which the businesses are certified and shall make the list available to the public at the corporation's Internet Web site.
238.146 History
History: 2011 a. 32.
238.15
238.15
Early stage business investment program. 238.15(1)(1)
Angel investment tax credits. The corporation shall implement a program to certify businesses for purposes of
s. 71.07 (5d). A business desiring certification shall submit an application to the corporation in each taxable year for which the business desires certification. The business shall specify in its application the investment amount it wishes to raise and the corporation may certify the business and determine the amount that qualifies for purposes of
s. 71.07 (5d). The corporation may certify or recertify a business for purposes of
s. 71.07 (5d) only if the business satisfies all of the following conditions:
238.15(1)(b)
(b) At least 51 percent of the employees employed by the business are employed in this state.
238.15(1)(f)
(f) It has the potential for increasing jobs in this state, increasing capital investment in this state, or both, and any of the following apply:
238.15(1)(f)1.
1. It is engaged in, or has committed to engage in, innovation in any of the following:
238.15(1)(f)1.a.
a. Manufacturing, biotechnology, nanotechnology, communications, agriculture, or clean energy creation or storage technology.
238.15(1)(f)1.b.
b. Processing or assembling products, including medical devices, pharmaceuticals, computer software, computer hardware, semiconductors, any other innovative technology products, or other products that are produced using manufacturing methods that are enabled by applying proprietary technology.
238.15(1)(f)1.c.
c. Services that are enabled by applying proprietary technology.
238.15(1)(f)2.
2. It is undertaking pre-commercialization activity related to proprietary technology that includes conducting research, developing a new product or business process, or developing a service that is principally reliant on applying proprietary technology.
238.15(1)(g)
(g) It is not primarily engaged in real estate development, insurance, banking, lending, lobbying, political consulting, professional services provided by attorneys, accountants, business consultants, physicians, or health care consultants, wholesale or retail trade, leisure, hospitality, transportation, or construction, except construction of power production plants that derive energy from a renewable resource, as defined in
s. 196.378 (1) (h).
238.15(1)(h)
(h) At the time it is initially certified under this subsection, it has less than 100 employees.
238.15(1)(j)
(j) At the time it is initially certified under this subsection, it has been in operation in this state for not more than 10 consecutive years.
238.15(1)(k)
(k) For taxable years beginning before January 1, 2008, it has not received more than $1,000,000 in investments that have qualified for tax credits under
s. 71.07 (5d).
238.15(1)(km)
(km) It has not received aggregate private equity investment in cash of more than $10,000,000 before it is initially certified under this subsection.
238.15(1)(m)1.1. It agrees that it will not relocate outside of this state during the 3 years after it receives an investment for which a person may claim a tax credit under
s. 71.07 (5d) and agrees to pay the corporation a penalty, in an amount determined under
subd. 2., if the business relocates outside of this state during that 3-year period. For the purposes of this paragraph, a business relocates outside of this state when the business locates more than 51 percent of any of the following outside of this state:
238.15(1)(m)1.c.
c. The activities of the business's headquarters, as determined by the corporation.
238.15(1)(m)2.
2. The amount of a penalty payment under
subd. 1. is any of the following:
238.15(1)(m)2.a.
a. If the relocation occurs less than 12 months after the investment, 100 percent of the tax credit that was claimed under
s. 71.07 (5d) as the result of the investment.
238.15(1)(m)2.b.
b. If the relocation occurs 12 months or more after the investment but less than 24 months after the investment, 80 percent of the tax credit that was claimed under
s. 71.07 (5d) as the result of the investment.
238.15(1)(m)2.c.
c. If the relocation occurs occurs 24 months or more after the investment but less than 36 months after the investment, 60 percent of the tax credit that was claimed under
s. 71.07 (5d) as the result of the investment.
238.15(2)
(2) Early stage seed investment tax credits. The corporation shall implement a program to certify investment fund managers for purposes of
ss. 71.07 (5b),
71.28 (5b),
71.47 (5b), and
76.638. An investment fund manager desiring certification shall submit an application to the corporation. The investment fund manager shall specify in the application the investment amount that the manager wishes to raise and the corporation may certify the manager and determine the amount that qualifies for purposes of
ss. 71.07 (5b),
71.28 (5b),
71.47 (5b), and
76.638. In determining whether to certify an investment fund manager, the corporation shall consider the investment fund manager's experience in managing venture capital funds, the past performance of investment funds managed by the applicant, the expected level of investment in the investment fund to be managed by the applicant, and any other relevant factors. The corporation may certify only investment fund managers that commit to consider placing investments in businesses certified under
sub. (1).
238.15(3)(a)(a)
List of certified businesses and investment fund managers. The corporation shall maintain a list of businesses certified under
sub. (1) and investment fund managers certified under
sub. (2) and shall permit public access to the lists through the corporation's Internet Web site.
238.15(3)(b)
(b)
Notification of department of revenue. The corporation shall notify the department of revenue of every certification issued under
subs. (1) and
(2) and the date on which any such certification is revoked or expires.
238.15(3)(d)
(d)
Rules. The corporation, in consultation with the department of revenue, shall adopt rules to administer this section. The rules shall further define "bona fide angel investment" for purposes of
s. 71.07 (5d) (a) 1. The rules shall limit the aggregate amount of tax credits under
s. 71.07 (5d) that may be claimed for investments in businesses certified under
sub. (1) at $3,000,000 per calendar year for calendar years beginning after December 31, 2004, and before January 1, 2008, $5,500,000 per calendar year for calendar years beginning after December 31, 2007, and before January 1, 2010, $6,500,000 for calendar year 2010, and $20,000,000 per calendar year for calendar years beginning after December 31, 2010, plus, for taxable years beginning after December 31, 2010, an additional $250,000 for tax credits that may be claimed for investments in nanotechnology businesses certified under
sub. (1). The rules shall also limit the aggregate amount of the tax credits under
ss. 71.07 (5b),
71.28 (5b),
71.47 (5b), and
76.638 that may be claimed for investments paid to fund managers certified under
sub. (2) at $3,500,000 per calendar year for calendar years beginning after December 31, 2004, and before January 1, 2008, $6,000,000 per calendar year for calendar years beginning after December 31, 2007, and before January 1, 2010, $8,000,000 for calendar year 2010, and $20,500,000 per calendar year for calendar years beginning after December 31, 2010, plus, for taxable years beginning after December 31, 2010, an additional $250,000 for tax credits that may be claimed for investments in nanotechnology businesses certified under
sub. (1). The rules shall also provide that, for calendar years beginning after December 31, 2007, a person who receives a credit under
ss. 71.07 (5b) and
(5d),
71.28 (5b),
71.47 (5b), or
76.638 must keep the investment in a certified business, or with a certified fund manager, for no less than 3 years, unless the person's investment becomes worthless, as determined by the corporation, during the 3-year period or the person has kept the investment for no less than 12 months and a bona fide liquidity event, as determined by the corporation, occurs during the 3-year period. The rules shall permit the corporation to reallocate credits under this section that are unused in any calendar year to a person eligible for tax benefits, as defined under
s. 238.16 (1) (d), if all of the following apply:
238.15(3)(d)1.
1. The corporation notifies the joint committee on finance in writing of its proposed reallocation.
238.15(3)(d)2.a.
a. The cochairpersons of the joint committee on finance fail to notify the corporation, within 14 working days after the date of the corporation's notification under
subd. 1., that the committee has scheduled a meeting for the purpose of reviewing the proposed reallocation.
238.15(3)(d)2.b.
b. The cochairpersons of the joint committee on finance notify the corporation that the committee has approved the proposed reallocation.
238.15(3)(e)
(e)
Transfer. A person who is eligible to claim a credit under
s. 71.07 (5b),
71.28 (5b),
71.47 (5b), or
76.638 may sell or otherwise transfer the credit to another person who is subject to the taxes or fees imposed under
s. 71.02,
71.23,
71.47, or
subch. III of ch. 76, if the person receives prior authorization from the investment fund manager and the manager then notifies the corporation and the department of revenue of the transfer and submits with the notification a copy of the transfer documents. No person may sell or otherwise transfer a credit as provided in this paragraph more than once in a 12-month period. The corporation may charge any person selling or otherwise transferring a credit under this paragraph a fee equal to 1 percent of the credit amount sold or transferred.
238.16
238.16
Jobs tax credit. 238.16(1)(a)1.1. Except as provided in
subd. 2., "business" means any organization or enterprise operated for profit, including a sole proprietorship, partnership, firm, business trust, joint venture, syndicate, corporation, limited liability company, or association.
238.16(1)(a)2.
2. "Business" does not include a store or shop in which retail sales is the principal business.
238.16(1)(b)
(b) "Eligible employee" means a person employed in a full-time job by a person certified under
sub. (2).
238.16(1)(c)
(c) "Full-time job" means a regular, nonseasonal full-time position in which an individual, as a condition of employment, is required to work at least 2,080 hours per year, including paid leave and holidays, and for which the individual receives pay that is equal to at least 150 percent of the federal minimum wage and benefits that are not required by federal or state law. "Full-time job" does not include initial training before an employment position begins.
238.16(2)
(2) The corporation may certify a person to receive tax benefits under this section if all of the following apply:
238.16(2)(a)
(a) The person is operating or intends to operate a business in this state.
238.16(2)(b)
(b) The person applies under this section and enters into a contract with the corporation.
