SB6-SA16,3,18 16"(3) "Economic development program" means a program or activity having the
17primary purpose of encouraging the establishment and growth of business in this
18state, including the creation and retention of jobs.".

SB6-SA16,3,22 21"(2) For each program developed and implemented by the board, the board
22shall do all of the following:

SB6-SA16,3,2423 (a) Establish clear and measurable goals for the program that are tied to
24statutory or programmatic policy objectives.

SB6-SA16,4,2

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1(b) Establish at least one quantifiable benchmark for each program goal
2described in par. (a).

SB6-SA16,4,63 (c) Require that each recipient of a grant or loan under the program submit a
4report to the corporation. Each contract with a recipient of a grant or loan under the
5program must specify the frequency and format of the report to be submitted to the
6corporation and the performance measures to be included in the report.

SB6-SA16,4,97 (d) Establish a method for evaluating the projected results of the program with
8actual outcomes as determined by evaluating the information described in pars. (a)
9and (b).

SB6-SA16,4,1110 (e) Annually and independently verify, from a sample of grants and loans, the
11accuracy of the information required to be reported under par. (c).

SB6-SA16,4,13 12(3) The board shall require for each program developed and implemented by
13the board all of the following:

SB6-SA16,4,2014 (a) That each recipient of a grant or loan under the program of at least $100,000
15submit to the corporation a verified statement describing the recipient's expenditure
16of the grant or loan funds, signed by both an independent certified public accountant
17and the director or principal officer of the recipient to attest to the accuracy of the
18verified statement. The board shall also require the recipient of such a grant or loan
19to make available for inspection the documents supporting the verified statement.
20The board must include the requirement in the contract with grant or loan recipients.

SB6-SA16,4,2421 (b) That the board, if a recipient of a grant or loan under the program submits
22false or misleading information to the corporation or fails to comply with the terms
23of a contract entered into with the corporation, without providing satisfactory
24explanation for the noncompliance, do all of the following:

SB6-SA16,4,2525 1. Recoup payments made to the recipient.

SB6-SA16,5,1

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12. Withhold future payments to be made to the recipient.

SB6-SA16,5,22 3. Impose a financial penalty on the recipient.".

SB6-SA16,5,8 4"238.07 Submission of annual reports to legislature. (1) Annually, by
5January 1, the board shall submit to the chief clerk of each house of the legislature,
6for distribution to the legislature under s. 13.172 (2), a report identifying the
7economic development projects that the board intends to develop and implement
8during the current calendar year.

SB6-SA16,5,13 9(2) Annually, no later than October l, the board shall submit to the joint
10legislative audit committee and the chief clerk of each house of the legislature, for
11distribution to the legislature under s. 13.172 (2), a report for the previous fiscal year
12on each of the economic development programs of the corporation that contains all
13of the following:

SB6-SA16,5,1414 (a) A description of each program.

SB6-SA16,5,1515 (b) A comparison of expected and actual program outcomes.

SB6-SA16,5,1616 (c) The number of grants made under the program.

SB6-SA16,5,1717 (d) The number of loans made under the program.

SB6-SA16,5,1818 (e) The amount of each grant and loan made under the program.

SB6-SA16,5,1919 (f) The recipient of each grant or loan made under the program.

SB6-SA16,5,2120 (g) The sum total of all grants and loans awarded to and received by each
21recipient under the program.

SB6-SA16,5,2222 (h) Any recommended changes to the program.

SB6-SA16,5,24 23(3) The board shall make readily accessible to the public on an Internet-based
24system the information required under sub. (2).".