AB40-SA1,5,6 620. Page 731, line 1: delete lines 1 to 8.
AB40-SA1,5,13 721. Page 806, line 14: after "stats" insert ", except that, for taxable years
8beginning after December 31, 2011, and before January 1, 2015, a claimant may
9claim 40 percent of the claimant's investment paid to a fund manager that the fund
10manager invests in a business certified under s. 238.15 (1), if the fund manager has
11invested no more than $500,000 in the business and the business has received no
12more than $2,000,000 in investments that have qualified for credits under this
13subsection or s. 71.07 (5b) or 71.47 (5b)
".
AB40-SA1,5,14 1422. Page 806, line 17: after "25" insert "or 40".
AB40-SA1,5,21 1523. Page 856, line 7: after "stats" insert ", except that, for taxable years
16beginning after December 31, 2011, and before January 1, 2015, a claimant may
17claim 40 percent of the claimant's investment paid to a fund manager that the fund
18manager invests in a business certified under s. 238.15 (1), if the fund manager has
19invested no more than $500,000 in the business and the business has received no
20more than $2,000,000 in investments that have qualified for credits under this
21subsection or s. 71.07 (5b) or 71.28 (5b)
".
AB40-SA1,5,22 2224. Page 856, line 10: after "25" insert "or 40".
AB40-SA1,6,2
125. Page 860, line 20: delete the material beginning with that line and ending
2with page 862, line 17.
AB40-SA1,6,3 326. Page 957, line 3: delete lines 3 to 13.
AB40-SA1,6,5 427. Page 964, line 24: delete the material beginning with that line and ending
5with page 966, line 16.
AB40-SA1,6,6 628. Page 970, line 10: delete lines 10 to 13.
AB40-SA1,6,8 729. Page 970, line 23: delete the material beginning with that line and ending
8with page 971, line 3.
AB40-SA1,6,9 930. Page 971, line 14: after that line insert:
AB40-SA1,6,10 10" Section 2403y. 108.141 (1) (f) 3. b. of the statutes is amended to read:
AB40-SA1,6,1611 108.141 (1) (f) 3. b. The average rate of total unemployment in this state,
12seasonally adjusted, as determined by the U.S. secretary of labor for the period
13consisting of the most recent 3 months for which data for all states are published
14before the close of that week equals or exceeds 110 percent of the average for either
15or both of the corresponding 3-month periods ending in the 2 preceding calendar
16year.; or
AB40-SA1, s. 2403yb 17Section 2403yb. 108.141 (1) (f) 4. of the statutes is created to read:
AB40-SA1,6,2118 108.141 (1) (f) 4. With respect to weeks of unemployment beginning on or after
19the date of enactment of P.L. 111-312, and ending with the week ending 4 weeks prior
20to the last week in which federal sharing is authorized by section 2005 (a) of P.L.
21111-5 and any amendments thereto:
AB40-SA1,7,222 a. The rate of insured unemployment for the period consisting of that week and
23the immediately preceding 12 weeks equaled or exceeded 120 percent of the average

1of such rates for the corresponding 13-week periods ending in each of the preceding
23 calendar years, and equaled or exceeded 5 percent; or
AB40-SA1,7,73 b. The average rate of total unemployment, seasonally adjusted, as determined
4by the U.S. secretary of labor, for the period consisting of the most recent 3 months
5for which data for all states are published before the close of that week equals or
6exceeds 6.5 percent and equals or exceeds 110 percent of the average for any of the
7corresponding 3-month periods ending in the preceding 3 calendar years.".
AB40-SA1,7,10 831. Page 1130, line 15: delete the material beginning with "the objectives" and
9ending with "activities" on line 20 and substitute "the objectives under s. 560.128
10238.2995 (1) (a)".
AB40-SA1,7,16 1132. Page 1131, line 7: delete the material beginning with "The commission"
12and ending with "(1) (a)." on page line 9 and substitute "The commission shall
13cooperate with the department of commerce Wisconsin Economic Development
14Corporation
to ensure coordination of energy efficiency and renewable resource
15programs under sub. (2) (a) 2. e. with the loan program under s. 560.128 238.2995
16(1) (a).".
AB40-SA1,7,17 1733. Page 1173, line 3: after that line insert:
AB40-SA1,7,18 18" Section 2859t. 238.075 of the statutes is created to read:
AB40-SA1,7,21 19238.075 Goals and accountability measures; reporting. (1) Goals and
20accountability measures.
The corporation shall do all of the following for each
21economic development program implemented under s. 238.03:
AB40-SA1,7,2322 (a) Establish clear and measurable goals for the program that are tied to the
23duties of the board under s. 238.03.
AB40-SA1,8,2
1(b) Establish at least one quantifiable benchmark for each program goal
2described in par. (a).
AB40-SA1,8,63 (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 shall specify the frequency and format of the report to be submitted to the
6corporation and the performance measures to be included in the report.
AB40-SA1,8,97 (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).
AB40-SA1,8,1110 (e) Annually and independently verify, from a sample of grants and loans, the
11accuracy of the information required to be reported under par. (c).
AB40-SA1,8,1912 (f) Establish by rule a requirement that the recipient of a grant or loan under
13the program of at least $100,000 submit to the corporation a verified statement
14signed by both an independent certified public accountant licensed or certified under
15ch. 442 and the director or principal officer of the recipient to attest to the accuracy
16of the verified statement, and make available for inspection the documents
17supporting the verified statement. The corporation shall include the requirement
18established by rule under this paragraph in the contract entered into by a grant or
19loan recipient.
AB40-SA1,8,2420 (g) Establish by rule policies and procedures permitting the corporation to do
21all of the following if a recipient of a grant or loan or tax benefits under the program
22submits false or misleading information to the corporation or fails to comply with the
23terms of a contract entered into with the corporation under the program and fails to
24provide to the satisfaction of the corporation an explanation for the noncompliance:
AB40-SA1,8,2525 1. Recoup payments made to the recipient.
AB40-SA1,9,1
12. Withhold payments to be made to the recipient.
AB40-SA1,9,22 3. Impose a forfeiture on the recipient.
AB40-SA1,9,9 3(2) Economic development assistance reporting. Annually, no later than
4October 1, the corporation shall submit to the joint legislative audit committee and
5to the appropriate standing committees of the legislature under s. 13.172 (3) a
6comprehensive report assessing economic development programs implemented by
7the corporation. The corporation shall make readily accessible to the public on an
8Internet-based system the information required under this subsection. The report
9shall include all of the following information:
AB40-SA1,9,1010 (a) A description of each program.
AB40-SA1,9,1211 (b) Quantifiable performance measures directly related to the purpose of the
12program including, when applicable, all of the following information:
AB40-SA1,9,1413 1. An accounting of the location, by municipality, of each job created or retained
14in the state in the previous fiscal year as a result of the program.
AB40-SA1,9,1615 2. An accounting of the industry classification, by municipality, of each job
16created or retained in the state in the previous fiscal year as a result of the program.
AB40-SA1,9,1717 (c) A comparison of expected and actual program outcomes.
AB40-SA1,9,1818 (d) The number of grants made under the program in the previous fiscal year.
AB40-SA1,9,1919 (e) The number of loans made under the program in the previous fiscal year.
AB40-SA1,9,2120 (f) The amount of tax benefits allocated and verified under the program in the
21previous fiscal year.
AB40-SA1,9,2322 (g) The amount of each grant and loan made under the program in the previous
23fiscal year.
AB40-SA1,9,2524 (h) The recipient of each grant or loan made under the program in the previous
25fiscal year.
AB40-SA1,10,2
1(i) The recipients of tax benefits allocated and verified under the program in
2the previous fiscal year.
AB40-SA1,10,43 (j) The sum total of all grants and loans awarded to and received by each
4recipient under the program in the previous fiscal year.".
AB40-SA1,10,5 534. Page 1173, line 3: after that line insert:
AB40-SA1,10,6 6" Section 2859p. 238.03 (5) of the statutes is created to read:
AB40-SA1,10,117 238.03 (5) No later than January 1, 2012, the board shall establish and
8implement economic development programs that are substantially similar to the
9economic development programs administered by the department of commerce.
10Once the board has established and implemented these programs, the board may not
11alter or eliminate the programs unless directed to do so by law.
AB40-SA1, s. 2859r 12Section 2859r. 238.03 (6) of the statutes is created to read:
AB40-SA1,10,1713 238.03 (6) No later than January 1, 2012, the board shall identify all economic
14development programs at the department of commerce that require a change in law
15for the board to establish and implement and shall submit a report to the chief clerks
16of the legislature, for distribution to the legislature under s. 13.172 (2), containing
17proposed legislation to allow the board to establish and implement the programs.".
AB40-SA1,10,18 1835. Page 1173, line 3: after that line insert:
AB40-SA1,10,20 19" Section 2859mb. 238.03 (2) (intro.) of the statutes, as created by 2011
20Wisconsin Act 7
, is amended to read:
AB40-SA1,10,2221 238.03 (2) (intro.) For each program developed and implemented by the board
22under sub. (1), the board shall do all of the following:
AB40-SA1, s. 2859mc 23Section 2859mc. 238.03 (3) (intro.) of the statutes, as created by 2011
24Wisconsin Act 7
, is amended to read:
AB40-SA1,11,2
1238.03 (3) (intro.) The board shall require for each program developed and
2implemented by the board under sub. (1) all of the following:
AB40-SA1, s. 2859me 3Section 2859me. 238.03 (3m) of the statutes is created to read:
AB40-SA1,11,64 238.03 (3m) The board shall develop and implement a program to identify and
5respond to potential retention problems for companies doing business in Wisconsin.
6The program shall include all of the following:
AB40-SA1,11,97 (a) Identification of the top 300 companies doing business in this state based
8on a company's number of employees, capital investment in this state, and overall
9economic impact on this state.
AB40-SA1,11,1210 (b) A business retention strategy that targets industries and industry clusters
11based on the collection and analysis of data related to the economic viability of the
12companies identified in par. (a).
AB40-SA1,11,1513 (c) Development and implementation of an early detection and response
14system to potential retention problems that includes annual visits to the companies
15identified under par. (a).
AB40-SA1,11,1816 (d) Creation of a database that includes business retention case histories, best
17practices, and retention specialists, and other information that is useful to identify
18and respond to retention challenges, as determined by the board.".
AB40-SA1,11,19 1936. Page 1175, line 20: after that line insert:
AB40-SA1,11,20 20" Section 2864m. 238.27 of the statutes is created to read:
AB40-SA1,12,2 21238.27 Wisconsin growth initiative. The corporation shall implement a
22program to issue bonds and notes to raise capital for investment in Wisconsin
23businesses on behalf of the corporation by up to 10 venture capital funds. The
24program may not raise more than a total of $100,000,000, and may not raise funds

1after December 31, 2016. The corporation shall provide the capital raised under the
2program to venture capital funds that agree to do all of the following:
AB40-SA1,12,4 3(1) Invest the capital on behalf of the corporation in Wisconsin businesses in
4various industry sectors and in different stages of development.
AB40-SA1,12,7 5(2) Require a business in which the capital is to be invested to raise funds from
6sources other than the state or the corporation in an amount equal to 4 times the
7amount of capital to be invested on behalf of the corporation.
AB40-SA1,12,8 8(3) Maintain offices, staff, and investment in this state.".
AB40-SA1,12,9 937. Page 1176, line 3: after that line insert:
AB40-SA1,12,11 10" Section 2865g. Subchapter III (title) of chapter 238 [precedes 238.40] of the
11statutes is created to read:
AB40-SA1,12,1212 chapter 238
AB40-SA1,12,1413 subchapter III
14 wisconsin development fund
AB40-SA1, s. 2865r 15Section 2865r. Subchapter IV (title) of chapter 238 [precedes 238.50] of the
16statutes is created to read:".
AB40-SA1,12,1717 chapter 238
AB40-SA1,12,1918 subchapter IV
19 regulatory assistance to businesses
AB40-SA1, s. 2865s 20Section 2865s. Subchapter V (title) of chapter 238 [precedes 238.60] of the
21statutes is created to read:
AB40-SA1,12,2222 chapter 238
AB40-SA1,12,2423 subchapter V
24 wisconsin development fund
AB40-SA1,13,1
138. Page 1307, line 12: delete that line and substitute:
AB40-SA1,13,3 2" Section 3340m. 560.128 of the statutes is renumbered 238.2995 and
3238.2995 (1) (intro.) and (2) (intro.), as renumbered, are amended to read:
AB40-SA1,13,64 238.2995 (1) (intro.) From the appropriations under s. 20.143 (1) (c), (gm), (hr),
5(ie), (m), (mr), and (n), the department
The corporation may make a loan to a
6manufacturing business in this state to do any of the following:
AB40-SA1,13,8 7(2) (intro.) The department corporation shall promulgate rules establishing
8establish eligibility criteria that do all of the following:".
AB40-SA1,13,9 939. Page 1308, line 18: delete that line and substitute:
AB40-SA1,13,11 10" Section 3354m. 560.203 of the statutes is renumbered 238.23 and amended
11to read:
AB40-SA1,13,23 12238.23 Targeted microloans. The department corporation shall create a
13pilot program for making microloans from the appropriation under s. 20.143 (1) (c)
14at nominal interest rates for the creation of new businesses. The department
15corporation shall designate 2 areas of the state, one urban and one rural, that are
16affected by high unemployment. Only residents of the areas designated by the
17department corporation are eligible for loans under this section, and the amount of
18a loan under this section may not exceed $25,000. The department corporation shall,
19through a competitive process, select a Wisconsin nonprofit finance corporation to
20administer the pilot program. The department corporation shall partner with
21federal, state, regional, and local economic development entities to provide business
22training for applicants and borrowers under this section. The department
23corporation may not make a loan under this section after July 31, 2013.".
AB40-SA1,13,24 2440. Page 1319, line 12: delete that line and substitute:
AB40-SA1,14,1
1" Section 3376c. 560.27 (1) (a) of the statutes is repealed.
AB40-SA1, s. 3376d 2Section 3376d. 560.27 (1) (b) of the statutes is repealed.
AB40-SA1, s. 3376e 3Section 3376e. 560.27 (1) (c) of the statutes is renumbered 238.03 (7) and
4amended to read:
AB40-SA1,14,155 238.03 (7) Annually, beginning in fiscal year 2010-11, the department shall
6award a grant of $100,000 from the appropriation under s. 20.143 (1) (d) to the
7high-technology business development corporation.
The department corporation
8shall enter into an agreement with the high-technology business development
9corporation requiring the grant proceeds to be used for employing
employ a grant
10writer to assist businesses to apply for federal small business innovation research
11grants. The department corporation shall submit annually to the legislature under
12s. 13.172 (2) a report detailing the number of grant applications assisted by the grant
13writer, the number of applications assisted by the grant writer that won grants and
14the total amount of the grants, and the number of any jobs created as a result of the
15grant writer's activities.
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