Allocation of volume cap on tax-exempt bonds. 238.10(1)(1)
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.
(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
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.
If the corporation receives notice of the issuance of a bond under an allocation under subs. (1)
, the corporation shall certify that that bond meets the requirements of 26 USC 146
History: 1987 a. 69
; 1989 a. 8
; 1997 a. 27
; 2005 a. 335
; 2011 a. 32
; Stats. 2011 s. 238.10.
Employment impact estimates. 238.11(1)(1)
The corporation shall prescribe the notice forms to be used under s. 66.1103 (4m) (a) 1.
The corporation shall include on the forms a requirement for information on the number of jobs the person submitting the notice expects to be eliminated, created, or maintained on the project site and elsewhere in this state by the project which is the subject of the notice. The corporation shall prescribe the forms to be used under s. 66.1103 (4m) (b)
If the corporation receives a notice under s. 66.1103 (4m) (a)
, the corporation shall estimate, no later than 20 days after receipt of the notice, whether the project that is the subject of the notice is expected to eliminate, create, or maintain jobs on the project site and elsewhere in this state and the net number of jobs expected to be eliminated, created, or maintained as a result of the project.
The corporation shall issue an estimate made under sub. (2)
to the city, village, town, or county which will issue the bonds to finance the project which is the subject of the estimate.
Tax credit reporting. 238.115(1)(1)
No later than the end of the first month following each quarter, the corporation shall provide to the department of revenue all of the following information for the previous quarter:
The identity of each person the corporation certified for tax credits under this chapter and, for each person, the amount certified.
The identity of each person the corporation verified to claim tax credits under this chapter based on the person's satisfaction of all applicable requirements to be eligible to claim the tax credits and, for each person, the amount verified.
The identity of each person, whether an entity or individual, who may claim tax credits as the result of each verification of each person identified under par. (b)
. The information provided under this paragraph shall specify the taxable year that applies for each of those persons.
The identity of each person, whether an entity or individual, who may claim tax credits as the result of a transfer of tax credits under this chapter and, for each person, the amount transferred. The information provided under this paragraph shall specify the taxable year that applies for each of those persons.
The identity of each person for whom the corporation revoked a certification for tax credits and, for each person, the amount revoked.
The amount of tax credits the corporation determined each person identified under par. (e)
was eligible to claim that, if already claimed, must be repaid by the person as the result of the revocation.
Any other information the department of revenue and the corporation agree is necessary to accurately track certification, verification, transfer, and usage of tax credits under this chapter.
(2) Taxpayer obligations.
Each person the corporation certifies for tax credits under this chapter shall provide all information necessary for the corporation to comply with the reporting requirements under sub. (1)
(3) Department of revenue's obligation.
The department of revenue shall track the amount of all tax credits administered by the corporation that have been claimed or used to offset tax liability and the amount of all available unused tax credits under this chapter.
History: 2015 a. 55
; 2019 a. 9
Repayment of grants, loans, and tax benefits. 238.12(1)(1)
In this section, “tax benefits" means the credits under ss. 71.07 (2dm)
, and (3wm)
, 71.28 (1dm)
, and (3wm)
, 71.47 (1dm)
, and (3t)
, and 76.636
The corporation may not award a grant or loan under this chapter to a person or certify a person to receive tax benefits unless the corporation enters into an agreement with the person that requires the person to repay the grant, loan, or tax benefits if, within 5 years after receiving the grant or loan or being certified to receive tax benefits, the person ceases to conduct in this state the economic activity for which the person received the grant or loan or for which the person was certified to receive tax benefits and commences substantially the same economic activity outside this state.
History: 2005 a. 25
; 2011 a. 32
; Stats. 2011 s. 238.12; 2015 a. 55
; 2017 a. 58
The corporation may not originate any loan that is forgivable in whole or in part upon the loan recipient's achievement of one or more conditions or goals.
Each new lending program the corporation implements or administers shall adhere as closely as practicable to commonly accepted commercial lending practices. The corporation shall adopt policies and procedures implementing this subsection.
History: 2017 a. 59
Notification of position openings; compliance.
The corporation shall monitor compliance with the position-opening notification requirements under ss. 66.1103 (6m)
History: 1987 a. 27
; 1995 a. 27
; 1999 a. 150
; 2011 a. 32
; Stats. 2011 s. 238.125.
State main street program. 238.127(1)(a)
“Business area" means a commercial area existing at the time services under the state main street program are requested and having historic significance.
“Revitalization" means the process of engaging in activities to increase economic activity, while preserving and building upon a location's historically significant characteristics.
The corporation shall establish and administer a state main street program to coordinate state and local participation in programs offered by the national main street center, created by the national trust for historic preservation, to assist municipalities in planning, managing and implementing programs for the revitalization of business areas. The corporation shall do all of the following:
Enter into contracts to obtain business area revitalization services provided by the national main street center.
With help from interested individuals and organizations, develop a plan describing the objectives of the state main street program and the methods by which the corporation shall:
Coordinate the activities of that program with private and public sector revitalization of business areas.
Solicit and use private sector funding for revitalization of business areas.
Help municipalities engage in revitalization of business areas.
Coordinate with other state and local public and private entities which provide services to municipalities undertaking projects for the revitalization of business areas.
Annually select, upon application, up to 5 municipalities to participate in the state main street program. The program for each municipality shall conclude after 3 years, except that the program for each municipality selected after July 29, 1995, shall conclude after 5 years. The corporation shall select program participants representing various geographical regions and populations. A municipality may apply to participate, and the corporation may select a municipality for participation, more than one time. In selecting a municipality, however, the corporation may give priority to those municipalities that have not previously participated.
For use in selecting the participants in the state main street program under par. (e)
, develop objective criteria relating to at least the following issues:
Private and public sector interest in and commitment to revitalization of a business area selected by the municipality.
Potential private sector investment in a business area selected by the municipality.
Local organizational and financial commitment to employ a program manager for not less than 3 years, or not less than 5 years for participants selected after July 29, 1995.
Local assistance in paying for the services of a design consultant.
Local commitment to assist in training persons to direct activities related to business areas in municipalities that do not participate in the state main street program.
Provide training, technical assistance and information on the revitalization of business areas to municipalities which do not participate in the state main street program. The corporation may charge reasonable fees for the services and information provided under this paragraph.
The corporation shall expend at least $250,000 annually on the state main street program.
Brownfields grant program. 238.13(1)(a)
“Brownfields" means abandoned, idle or underused industrial or commercial facilities or sites, the expansion or redevelopment of which is adversely affected by actual or perceived environmental contamination.
“Brownfields redevelopment" means any work or undertaking by a person to acquire a brownfields facility or site and to raze, demolish, remove, reconstruct, renovate, or rehabilitate the facility or existing buildings, structures, or other improvements at the site for the purpose of promoting the use of the facility or site for commercial, industrial, or other purposes. “Brownfields redevelopment" does not include construction of new facilities on the site for any purpose other than environmental remediation activities.
“Environmental remediation activities" means investigation, analysis and monitoring of a brownfields facility or site to determine the existence and extent of actual or potential environmental pollution; abating, removing or containing environmental pollution at a brownfields facility or site; or restoring soil or groundwater at a brownfields facility or site.
“Person" means an individual, partnership, limited liability company, corporation, nonprofit organization, city, village, town, county, or trustee, including a trustee in bankruptcy.
The corporation may make a grant to a person if all of the following apply:
The recipient uses the grant proceeds for brownfields redevelopment or associated environmental remediation activities.
The recipient does not use the grant proceeds to pay lien claims of the department of natural resources or the federal environmental protection agency based on investigation or remediation activities of the department of natural resources or the federal environmental protection agency or to pay delinquent real estate taxes or interest or penalties that relate to those taxes.
All of the following are unknown, cannot be located, or are financially unable to pay the cost of environmental remediation activities:
The party that caused the portion of the environmental contamination that is the basis for the grant request.
Any person who possessed or controlled the environmental contaminant that is the basis for the grant request before the contaminant was released.
The recipient contributes to the cost of the project as provided in par. (b)
The contribution required under par. (a) 3.
may be in cash or in-kind. Cash contributions may be of private or public funds. In-kind contributions shall be limited to actual remediation services.
The recipient of a grant under this section shall contribute to the project an amount that is equal to at least 50 percent of the amount of the grant.
The corporation may consider the following criteria in making awards under this section:
The potential of the project to promote economic development in the area.
The level of financial commitment by the applicant to the project.
The extent and degree of soil and groundwater contamination at the project site.
The adequacy and completeness of the site investigation and remediation plan.
Any other factors considered by the corporation to be relevant to assessing the viability and feasibility of the project.
Before the corporation awards a grant under this section, the corporation shall consider the recommendations of the department of natural resources.
Receipt of a grant under this section shall not render the recipient ineligible for a loan or any other grant awarded by the state, unless under the eligibility criteria of the loan or other grant the recipient is excluded by virtue of having received the grant.
Brownfield site assessment grants. 238.133(1)(a)
“Eligible site or facility" means one or more contiguous industrial or commercial facilities or sites with common or multiple ownership that are abandoned, idle, or underused, the expansion or redevelopment of which is adversely affected by actual or perceived environmental contamination.
“Local governmental unit" means a city, village, town, county, redevelopment authority created under s. 66.1333
, community development authority created under s. 66.1335
, or housing authority.
“Underground hazardous substance storage tank system" means an underground storage tank used for storing a hazardous substance other than a petroleum product together with any on-site integral piping or dispensing system with at least 10 percent of its total volume below the surface of the ground.