AB56,953,2
1234.43
(2) (c) For repayment of advances from the state made through s. 20.485
2(3) (b)
, 2017 stats;
AB56,1867
3Section
1867. 238.02 (1) of the statutes is amended to read:
AB56,953,234
238.02
(1) There is created an authority, which is a public body corporate and
5politic, to be known as the “Wisconsin Economic Development Corporation." The
6members of the board shall consist of 6 members nominated by the governor, and
7with the advice and consent of the senate appointed, to serve at the pleasure of the
8governor;
4 3 members appointed by the speaker of the assembly
, consisting of one
9majority and one minority party representative to the assembly, appointed as are the
10members of standing committees in the assembly, and one person employed in the
11private sector, to serve
4-year terms; one member appointed by the minority leader
12of the assembly to serve a 4-year term; 4 at the speaker's pleasure; and 3 members
13appointed by the senate majority leader
, consisting of one majority and one minority
14party senator, appointed as are members of standing committees in the senate, and
15one person employed in the private sector, to serve
4-year terms; and one member
16appointed by the minority leader of the senate to serve a 4-year term. Neither the
17speaker of the assembly nor the senate majority leader may appoint more than 2
18members of the legislature to the board at the majority leader's pleasure. The
19secretary of administration and the secretary of revenue shall also serve on the board
20as nonvoting members. The board shall elect a chairperson from among its
21nonlegislative voting members.
A vacancy on the board shall be filled in the same
22manner as the original appointment to the board for the remainder of the unexpired
23term, if any.
AB56,1868
24Section 1868
. 238.02 (2) of the statutes is amended to read:
AB56,954,5
1238.02
(2) A majority of the
appointed voting members of the board
currently
2serving constitutes a quorum for the purpose of conducting its business and
3exercising its powers and for all other purposes
, notwithstanding the existence of any
4vacancies. Action may be taken by the board upon a vote of a majority of the
5appointed voting members present.
AB56,1869
6Section
1869. 238.04 (15) of the statutes is repealed.
AB56,1870
7Section
1870. 238.07 (1) of the statutes is amended to read:
AB56,954,118
238.07
(1) Annually, by
January
October 1, the board shall submit to the chief
9clerk of each house of the legislature, for distribution to the legislature under s.
1013.172 (2), a report identifying the economic development projects that the board
11intends to develop and implement during the current
calendar fiscal year.
AB56,1871
12Section
1871. 238.07 (2) (ag) of the statutes is amended to read:
AB56,954,1613
238.07
(2) (ag) An accounting of the location, by municipality, of each job
14created or retained in the state in the previous fiscal year as a result of the program
15if the job meets the criteria for receiving a grant, loan award, or tax credit under the
16program.
AB56,1872
17Section
1872. 238.07 (2) (ar) of the statutes is amended to read:
AB56,954,2018
238.07
(2) (ar) An accounting of the industry classification, by municipality, of
19each job created or retained in the state as a result of the program
if the job meets
20the criteria for receiving a grant, loan award, or tax credit under the program.
AB56,1873
21Section
1873. 238.08 of the statutes is renumbered 238.08 (1) and amended
22to read:
AB56,955,323
238.08
(1) All records of the corporation are open to the public as provided in
24s. 19.35 (1) except those records relating to pending grants, loans, or economic
25development projects that, in the opinion of the corporation, must remain
1confidential to protect the competitive nature of the grant, loan, or project
and except
2records received from the department of revenue pursuant to an agreement under
3s. 71.78 (5).
AB56,1874
4Section
1874. 238.08 (2) of the statutes is created to read:
AB56,955,105
238.08
(2) The corporation shall maintain on its Internet site a searchable,
6electronic database that allows any person to inspect all final contracts, including
7final amendments to these contracts, under which the corporation agrees to provide
8a grant, loan, or tax benefit. The corporation shall add a final contract or final
9amendment to the database no later than 30 days after the contract or amendment
10is executed.
AB56,1875
11Section 1875
. 238.095 of the statutes is created to read:
AB56,955,14
12238.095 Contract requirements.
(1) All terms of each contract the
13corporation executes shall, at the time the contract is executed, be in compliance with
14all applicable state laws and all applicable corporation policies and procedures.
AB56,955,19
15(2) Prior to executing a contract with a person for the award of a grant, loan,
16or tax credit, the corporation shall establish, through payroll records or other
17business records the corporation determines are sufficient, the number of full-time
18employees employed by the person for the purpose of accounting for each full-time
19job created or retained during the course of the contract.
AB56,955,25
20(3) Each contract the corporation executes with a person for the award of a
21grant, loan, or tax credit shall require the person to submit to the corporation payroll
22records, or other business records the corporation determines are sufficient, to verify
23the number of full-time jobs created or retained during the course of the contract.
24The corporation shall adopt policies and procedures establishing standards to verify
25the business records and full-time job data.
AB56,1876
1Section
1876. 238.097 of the statutes is created to read:
AB56,956,7
2238.097 Underwriting staff review. The corporation may not enter into a
3contract with a person for the award of a grant, loan, or tax credit before the
4corporation's underwriting staff completes a review of the person's application for the
5grant, loan, or tax credit, including an evaluation of all statutory requirements and
6all requirements under the corporation's policies and procedures that apply to the
7grant, loan, or tax credit.
AB56,1877
8Section 1877
. 238.105 of the statutes is created to read:
AB56,956,16
9238.105 Job elimination or relocation. (1) Each recipient of a grant, loan,
10or tax credit under this chapter shall report to the corporation each full-time job in
11this state that the recipient eliminates or relocates outside this state within 7
12business days after the job is eliminated or relocated and shall describe in detail the
13circumstances of that job elimination or relocation. If extenuating circumstances
14make it impossible for the recipient to submit the report within 7 business days, the
15recipient may submit the report within 30 days after the full-time job is eliminated
16or relocated.
AB56,956,19
17(2) A recipient of a grant, loan, or tax credit under this chapter may not use the
18grant, loan, or tax credit to reduce net employment in this state or relocate jobs
19outside this state.
AB56,1878
20Section
1878. 238.115 (1) (f) of the statutes is amended to read:
AB56,956,2421
238.115
(1) (f) The amount of tax credits
the corporation determined each
22person identified under par. (e) was eligible to claim that, if already claimed
that, 23must be repaid
by the person as the result of
a the revocation
for each person
24identified under par. (e).
AB56,1879
25Section
1879. 238.116 of the statutes is created to read: