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Current as of January 01, 2022 | Updated by FindLaw Staff
The corporation shall do all of the following:
(1) Accountability.(a) Verify, under s. 238.03(2)(e), the information submitted to the corporation by the person for the purpose of claiming tax benefits.
(b) Notify and obtain written approval from the chief executive officer of the corporation for any certification under sub. (2)(j).
(2) Rules. Establish by rule all of the following:
(a) A schedule of hourly wage ranges to be paid, and health insurance benefits to be provided, to an employee by a person certified under s. 238.301(2) and the corresponding per employee tax benefit for which a person certified under s. 238.301(2) may be eligible.
(b) A definition of “significant investment of capital” for purposes of s. 238.302(2), together with a corresponding schedule of tax benefits for which a person who is certified under s. 238.301(2) and who conducts a project described in s. 238.302(2) may be eligible. The corporation shall include in the definition required under this paragraph a schedule of investments that takes into consideration the size or nature of the business.
(c) A definition of “significant investments in the training or reeducation of employees” for purposes of s. 238.302(3), together with a corresponding schedule of tax benefits for which a person who is certified under s. 238.301(2) and who conducts a project under s. 238.302(3) may be eligible.
(d) A schedule of tax benefits for which a person who is certified under s. 238.301(2) and who conducts a project that will result in the location or retention of a person's corporate headquarters in Wisconsin may be eligible.
(e) The methodology for designating an area as economically distressed under s. 238.304(1). The methodology under this paragraph shall require the corporation to consider the most current data available for the area and for the state on the following indicators:
1. Unemployment rate.
2. Percentage of families with incomes below the poverty line established under 42 USC 9902(2).
3. Median family income.
4. Median per capita income.
5. Average annual wage.
6. Real property values.
7. Other significant or irregular indicators of economic distress, such as a natural disaster.
(f) A schedule of additional tax benefits for which a person who is certified under s. 238.301(2) and who conducts an eligible activity described under s. 238.304 may be eligible.
(g) Reporting requirements, minimum benchmarks, and outcomes expected of a person certified under s. 238.301(2) before that person may receive tax benefits under s. 238.303.
(h) Policies, criteria, and methodology for allocating a portion of the tax benefits available under s. 238.303 to rural areas.
(i) Policies, criteria, and methodology for allocating a portion of the tax benefits available under s. 238.303 to small businesses.
(j) Policies and criteria for certifying a person who may be eligible for tax benefits greater than or equal to $3,000,000.
(k) Procedures for implementing ss. 238.301 to 238.306.
(3) Reporting. Annually, 6 months after the report has been submitted under s. 238.07(2), submit to the joint legislative audit committee and to the appropriate standing committees of the legislature under s. 13.172(3) a comprehensive report assessing the program under ss. 238.301 to 238.306. The report under this subsection shall update the applicable information provided in the report under s. 238.07(2).
Cite this article: FindLaw.com - Wisconsin Statutes Economic Development (Ch. 238) § 238.306. Responsibilities of the corporation - last updated January 01, 2022 | https://codes.findlaw.com/wi/wisconsin-economic-development-ch-238/wi-st-238-306/
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