AB43,,70157015e. The internal rate of return realized by the venture capital fund upon the venture capital fund’s exit from the investment in the business.
AB43,,70167016f. A statement of the number of employees the business employed when the venture capital fund first invested moneys received through the program and the number of employees the business employed on the first day and last day of the investment manager’s fiscal year.
AB43,,70177017(b) No later than 10 days after it receives the investment manager’s report under par. (a), the corporation shall submit the report to the chief clerk of each house of the legislature, for distribution to the legislature under s. 13.172 (2).
AB43,,70187018(c) Quarterly, the investment manager shall submit to the oversight board a report for the preceding quarter that includes all of the following:
AB43,,701970191. An identification of each venture capital fund under contract with the investment manager under sub. (5).
AB43,,702070202. An identification of each business in which a venture capital fund held an investment of moneys received through the fund of funds program and a statement of the amount of the investment in each business.
AB43,,702170213. A statement of the number of employees the business employed when the venture capital fund first invested moneys received through the fund of funds program and the number of employees the business employed on the last day of the quarter.
AB43,,70227022(d) The oversight board shall make the reports under par. (c) readily accessible to the public on the corporation’s Internet site.
AB43,,70237023(7) Policies and procedures. The corporation shall establish policies and procedures to administer this section.
AB43,25677024Section 2567. 238.30 (2m) (a) of the statutes is amended to read:
AB43,,70257025238.30 (2m) (a) Except as provided in par. (b) and s. 238.308 (1) (b), “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.
AB43,25687026Section 2568. 238.308 (1) of the statutes is renumbered 238.308 (1) (intro.) and amended to read:
AB43,,70277027238.308 (1) Definition Definitions. (intro.) In this section,:
AB43,,70287028(a)eligible Eligible employee” means a person employed in a full-time job by a person certified under sub. (2).
AB43,25697029Section 2569. 238.308 (1) (b) of the statutes is created to read:
AB43,,70307030238.308 (1) (b) 1. Except as provided in subd. 2., “full-time job” has the meaning given in s. 238.30 (2m).
AB43,,703170312. For contracts executed by the corporation under this section after December 31, 2023, “full-time job” means a regular, nonseasonal full-time position for which an individual receives pay that is equal to at least $32,000 and benefits that are not required by federal or state law. “Full-time job” does not include initial training before an employment position begins.
****Note: This is reconciled s. 238.308 (1) (b) 2. This Section has been affected by drafts with the following LRB numbers: LRB-1461 and LRB-1544.
AB43,25707032Section 2570. 238.308 (4) (a) 1. of the statutes is amended to read:
AB43,,70337033238.308 (4) (a) 1. An amount equal to up to 10 percent of the amount of wages that the person paid to an eligible employee in the taxable year. For contracts executed by the corporation after December 31, 2023, the amount of wages taken into account under this subdivision may not exceed $141,300 per eligible employee per year. Beginning on January 1, 2025, the dollar amount under this subdivision shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the year before the previous year, as determined by the federal department of labor. Each amount that is revised under this subdivision shall be rounded to the nearest multiple of $10 if the revised amount is not a multiple of $10 or, if the revised amount is a multiple of $5, such an amount shall be increased to the next higher multiple of $10.
AB43,25717034Section 2571. 238.308 (4) (a) 3. of the statutes is amended to read:
AB43,,70357035238.308 (4) (a) 3. An amount equal to up to 50 percent of the person’s training costs incurred to undertake activities to enhance an eligible employee’s general knowledge, employability, and flexibility in the workplace; to develop skills unique to the person’s workplace or equipment; or to develop skills that will increase the quality of the person’s product upgrade or improve the job-related skills of an eligible employee, train an eligible employee on the use of job-related new technologies, or provide job-related training to an eligible employee whose employment with the person represents the employee’s first full-time job.
AB43,25727036Section 2572. 238.308 (4) (a) 5. of the statutes is amended to read:
AB43,,70377037238.308 (4) (a) 5. An amount, as determined by the corporation, equal to a percentage of the amount of wages that the person paid to an eligible employee in the taxable year, if the position in which the eligible employee was employed was created or retained in connection with the person’s location or retention of the person’s corporate headquarters in Wisconsin and the job duties associated with the eligible employee’s position involve the performance of corporate headquarters functions.
AB43,25737038Section 2573. 238.308 (4) (a) 6. of the statutes is created to read:
AB43,,70397039238.308 (4) (a) 6. An amount equal to up to 25 percent of the person’s energy efficiency or renewable energy project expenditures on real or personal property located in this state. When making an award under this subdivision, the corporation shall ensure that the percentage of expenditures taken into account positively correlates to the scale of the project.
AB43,25747040Section 2574. 238.399 (1) (am) 2. of the statutes is repealed and recreated to read:
AB43,,70417041238.399 (1) (am) 2. For contracts executed by the corporation under this section after December 31, 2023, the individual is employed in a regular, nonseasonal full-time position for which the individual receives annual pay that is more than $32,000 in a tier I county or municipality or more than 42,390 in a tier II county or municipality and benefits that are not required by federal or state law.
****Note: This is reconciled s. 238.399 (1) (am) 2.. This Section has been affected by drafts with the following LRB numbers: LRB-1461 and LRB-1544.