238.16   Jobs tax credit.
238.17   Historic rehabilitation tax credit.
238.23   Technology zones.
238.25   Assistance to loan recipients.
238.26   Report to investment board.
238.28   Refundable tax credits.
238.30   Definitions.
238.301   Certification for tax benefits.
238.302   Eligible activities.
238.303   Limits on tax benefits and claiming tax benefits.
238.304   Eligible activities in economically distressed areas and benefiting members of targeted groups.
238.3045   Transferability of tax benefits.
238.305   Revocation of certification.
238.306   Responsibilities of the corporation.
238.308   Business development tax credit.
238.31   Designation of development zone.
238.315   Invitation to nominate area.
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.
238.396   Electronics and information technology manufacturing zone.
238.397   Enterprise development zone program.
238.398   Agricultural development zone.
238.399   Enterprise zone.
238.3995   Airport development zones.
subch. I of ch. 238 SUBCHAPTER I
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 6 members nominated by the governor, and with the advice and consent of the senate appointed, to serve at the pleasure of the governor; 4 members appointed by the speaker of the assembly to serve 4-year terms; one member appointed by the minority leader of the assembly to serve a 4-year term; 4 members appointed by the senate majority leader to serve 4-year terms; and one member appointed by the minority leader of the senate to serve a 4-year term. Neither the speaker of the assembly nor the senate majority leader may appoint more than 2 members of the legislature to the board. The secretary of administration and the secretary of revenue shall also serve on the board as nonvoting members. The board shall elect a chairperson from among its nonlegislative voting members. 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, if any.
238.02(2) (2)A majority of the appointed members of the board currently serving 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 the appointed 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 or a committee established by the board.
238.02 History History: 2011 a. 7, 32; 2015 a. 55; 2017 a. 369.
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, loan award, or tax credit under the program submit a report to the corporation. Each contract with a recipient of a grant, loan award, or tax credit 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. Each recipient shall submit a statement to the corporation signed by the recipient or the director or principal officer of the recipient attesting to the accuracy and truthfulness of the information.
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, loan awards, and tax credits, 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, within 120 days after the end of the recipient's fiscal year in which any grant or loan funds were expended, a schedule of expenditures of the grant or loan funds, including expenditures of any matching cash or in-kind match, signed by the director or principal officer of the recipient to attest to the accuracy of the schedule of expenditures. The recipient shall engage an independent certified public accountant to perform procedures, approved by the corporation 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. The board shall also require the recipient of such a grant or loan to make available for inspection the documents supporting the schedule of expenditures. The board shall include the requirements under this paragraph 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)1. 1. Recoup payments made to the recipient.
238.03(3)(b)2. 2. Withhold future payments to be made to the recipient.
238.03(3)(b)3. 3. Impose a financial penalty on the recipient.
238.03(4) (4)
238.03(4)(a)(a) In this subsection, “unassigned balance" means all moneys held by the corporation that the corporation is not obligated by law or by contract to expend for a particular purpose or that the corporation has not otherwise assigned to be expended for a particular purpose.
238.03(4)(b) (b) The board shall establish policies and procedures for maintaining and expending any unassigned balance that satisfy all of the following requirements:
238.03(4)(b)1. 1. The policies and procedures shall be consistent with best practices recommended by the Government Finance Officers Association.
238.03(4)(b)2. 2. The policies and procedures shall establish as a target that the corporation's unassigned balance on June 30 of each fiscal year be an amount equal to or less than one-sixth of the corporation's total administrative expenditures for that fiscal year.
238.03(5) (5)The board shall hire a full-time employee who shall be known as the electronics manufacturing small business development director. The director's duties shall include coordinating with the economic development liaison in the department of administration and providing outreach to local economic development organizations. This subsection has no effect after December 31, 2022.
238.03 History History: 2011 a. 7; 2013 a. 20; 2015 a. 55; 2017 a. 58, 369.
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(3) (3)Maintain an office.
238.04(4) (4)Sue and be sued.
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(10) (10)Make loans and provide grants.
238.04(11) (11)Incur debt.
238.04(12) (12)Procure liability insurance.
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(15) (15)Appoint and supervise the economic development liaison project position created in 2017 Wisconsin Act 58, section 61 (1).
238.04 History History: 2011 a. 7; 2011 a. 32 s. 3289; 2017 a. 369.
238.045 238.045 Establishment of nonprofit organization.
2019-20 Wisconsin Statutes updated through 2021 Wis. Act 24 and through all Supreme Court and Controlled Substances Board Orders filed before and in effect on April 15, 2021. Published and certified under s. 35.18. Changes effective after April 15, 2021, are designated by NOTES. (Published 4-15-21)