SB463-ASA1,2,83 16.413 (1) (b) "Grant" means a payment made to a person, other than aids to
4individuals and organizations and local assistance and the payment of salaries and
5fringe benefits for state employees an entity, including a public utility as defined in
6s. 196.01 (5) or a sewerage system operator as defined in s. 196.04 (4) (a). "Grant"
7includes a loan and any tax credit, whether refundable or nonrefundable, that is
8issued to an entity.

SB463-ASA1,2,1711 16.413 (1) (d) "State agency" has the meaning given in s. 20.001 (1) means an
12office, department, independent agency, institution of higher education, association,
13society, or other body in state government created or authorized to be created by the
14constitution or any law, which is entitled to expend moneys appropriated by law,
15including the legislature and the courts and including an authority created in subch.
16II of ch. 114 or subch. III of ch. 149 or in ch. 231, 232, 233, 234, 235, 237, 238, or 279.
17"State agency" includes a local governmental unit, as defined in s. 16.97 (7).

SB463-ASA1,2,2320 16.413 (3) (a) (intro.) The department shall ensure that all of the following
21information relating to each grant that exceeds $100 made by a state agency or
22contract entered into by a state agency is available for inspection on a searchable
23Internet Web site maintained by the department:

SB463-ASA1,3,82 16.413 (3) (a) 6. With respect to any grant that is related to an economic
3development program, as defined in s. 238.01 (3), an accounting by job classification
4of the compensation, including benefits and bonuses or other incentive pay, that the
5grant recipient paid to each of its employees in the immediately preceding fiscal year;
6and an accounting of the percentage and dollar amount of increase in compensation,
7including benefits and bonuses or other incentive pay, for each employee in the
8immediately preceding fiscal year relative to the fiscal year prior to that year.

SB463-ASA1,3,139 7. With respect to any grant that is related to an economic development
10program, as defined in s. 238.01 (3), once a grant recipient has spent a grant from a
11state agency, a verified statement describing the recipient's expenditures of grant
12funds, signed by both an independent certified public accountant and the director or
13principal officer of the recipient that attests to the accuracy of the verified statement.

SB463-ASA1,3,1715 16.413 (3) (c) 1. Each state agency that makes a grant for which a verified
16statement is required under par. (a) 7. shall make that verified statement available
17for inspection on an Internet Web site maintained by the state agency.

SB463-ASA1,3,2218 2. Each grant recipient for which a verified statement is required under par.
19(a) 7. and that maintained an Internet Web site at any time during the 12 months
20preceding the recipient's receipt of that grant, shall, for a period of at least 5 years,
21make the verified statement signed by the grant recipient under par. (a) 7. available
22on an Internet Web site maintained by the grant recipient.

SB463-ASA1,4,323 3. The department shall attempt to ensure coordination between the
24department, the Wisconsin Economic Development Corporation, any other state
25agency that administers economic development programs, as defined in s. 238.01 (3),

---

1and the federal government concerning the award of grants under those economic
2development programs and the disclosures required under this subsection with
3respect to those economic development programs.

SB463-ASA1,4,94 (d) Each state agency shall be responsible for, and shall establish by rule
5policies and procedures for, the detection and investigation of misuse of grants, and
6the use of fraud or deceit to obtain grants, from the state agency. If a state agency
7detects any misuse of a state grant or fraud, the state agency shall report that misuse
8or fraud to the department of justice for investigation, including criminal
9investigation.

SB463-ASA1,4,1310 (e) If, after investigation and an opportunity for hearing, a state agency
11determines that a grant recipient has misused the grant or obtained or attempted
12to obtain the grant through fraud or deceit, the state agency may do any of the
13following:

SB463-ASA1,4,1414 1. Recover payments made to the recipient.

SB463-ASA1,4,1515 2. Withhold payments to be made to the recipient.

SB463-ASA1,4,1616 3. Assess a forfeiture against the recipient.

SB463-ASA1,4,2018 20.835 (2) (ba) Early stage seed and angel investment credits. A sum sufficient
19to make the payments under ss. 71.07 (5b) (d) 4. and (5d) (d) 5., 71.28 (5b) (d) 4., and
2071.47 (5b) (d) 4.

SB463-ASA1,4,2422 71.07 (5b) (d) 1. Section For taxable years beginning before January 1, 2012,
23s. 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit
24under this subsection.

SB463-ASA1,5,3

---

171.07 (5b) (d) 1m. For taxable years beginning after December 31, 2011, s.
271.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the
3credit under this subsection.

SB463-ASA1,5,106 71.07 (5b) (d) 3. For Except as provided under s. 238.15 (3) (d) (intro.), for
7investments made after December 31, 2007, if an investment for which a claimant
8claims a credit under par. (b) is held by the claimant for less than 3 years, the
9claimant shall pay to the department, in the manner prescribed by the department,
10the amount of the credit that the claimant received related to the investment.

SB463-ASA1,5,1712 71.07 (5b) (d) 4. For taxable years beginning after December 31, 2011, if the
13allowable amount of the claim under par. (b) exceeds the tax otherwise due under s.
1471.02 or 71.08, the amount of the claim not used to offset the tax due shall be certified
15by the department of revenue to the department of administration for payment by
16check, share draft, or other draft drawn from the appropriation account under s.
1720.835 (2) (ba).

SB463-ASA1,5,2521 71.07 (5d) (d) 1. For Except as provided under s. 238.15 (3) (d) (intro.), for
22investments made after December 31, 2007, if an investment for which a claimant
23claims a credit under par. (b) is held by the claimant for less than 3 years, the
24claimant shall pay to the department, in the manner prescribed by the department,
25the amount of the credit that the claimant received related to the investment.

SB463-ASA1,6,42 71.07 (5d) (d) 2. Section For taxable years beginning before January 1, 2012,
3s. 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit
4under this subsection.

SB463-ASA1,6,86 71.07 (5d) (d) 2m. For taxable years beginning after December 31, 2011, s.
771.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the
8credit under this subsection.

SB463-ASA1,6,1510 71.07 (5d) (d) 5. For taxable years beginning after December 31, 2011, if the
11allowable amount of the claim under par. (b) exceeds the tax otherwise due under s.
1271.02 or 71.08, the amount of the claim not used to offset the tax due shall be certified
13by the department of revenue to the department of administration for payment by
14check, share draft, or other draft drawn from the appropriation account under s.
1520.835 (2) (ba).

SB463-ASA1,6,1817 71.10 (4) (gwb) Early stage seed investment credit under s. 71.07 (5b), except
18as provided under par. (i).

SB463-ASA1,6,2120 71.10 (4) (gx) Angel investment credit under s. 71.07 (5d), except as provided
21under par. (i).

SB463-ASA1,7,1123 71.10 (4) (i) The total of claim of right credit under s. 71.07 (1), farmland
24preservation credit under ss. 71.57 to 71.61, farmland preservation credit, 2010 and
25beyond under s. 71.613, homestead credit under subch. VIII, farmland tax relief

---

1credit under s. 71.07 (3m), dairy manufacturing facility investment credit under s.
271.07 (3p), jobs tax credit under s. 71.07 (3q), meat processing facility investment
3credit under s. 71.07 (3r), woody biomass harvesting and processing credit under s.
471.07 (3rm), food processing plant and food warehouse investment credit under s.
571.07 (3rn), early stage seed investment credit under s. 71.07 (5b) (d) 4., angel
6investment credit under s. 71.07 (5d) (d) 5., film production services credit under s.
771.07 (5f), film production company investment credit under s. 71.07 (5h), veterans
8and surviving spouses property tax credit under s. 71.07 (6e), enterprise zone jobs
9credit under s. 71.07 (3w), beginning farmer and farm asset owner tax credit under
10s. 71.07 (8r), earned income tax credit under s. 71.07 (9e), estimated tax payments
11under s. 71.09, and taxes withheld under subch. X.

SB463-ASA1,7,1513 71.28 (5b) (d) 1. Subsection For taxable years beginning before January 1,
142012, sub. (4) (e) to (h), as it applies to the credit under sub. (4), applies to the credit
15under this subsection.

SB463-ASA1,7,1917 71.28 (5b) (d) 1m. For taxable years beginning after December 31, 2011, sub.
18(4) (e), (g), and (h), as it applies to the credit under sub. (4), applies to the credit under
19this subsection.

SB463-ASA1,8,222 71.28 (5b) (d) 3. For Except as provided under s. 238.15 (3) (d) (intro.), for
23investments made after December 31, 2007, if an investment for which a claimant
24claims a credit under par. (b) is held by the claimant for less than 3 years, the

---

1claimant shall pay to the department, in the manner prescribed by the department,
2the amount of the credit that the claimant received related to the investment.

SB463-ASA1,8,94 71.28 (5b) (d) 4. For taxable years beginning after December 31, 2011, if the
5allowable amount of the claim under par. (b) exceeds the tax otherwise due under s.
671.23, the amount of the claim not used to offset the tax due shall be certified by the
7department of revenue to the department of administration for payment by check,
8share draft, or other draft drawn from the appropriation account under s. 20.835 (2)
9(ba).

SB463-ASA1,8,1211 71.30 (3) (eop) Early stage seed investment credit under s. 71.28 (5b), except
12as provided under par. (f).

SB463-ASA1,8,2314 71.30 (3) (f) The total of farmland preservation credit under subch. IX,
15farmland tax relief credit under s. 71.28 (2m), dairy manufacturing facility
16investment credit under s. 71.28 (3p), jobs credit under s. 71.28 (3q), meat processing
17facility investment credit under s. 71.28 (3r), woody biomass harvesting and
18processing credit under s. 71.28 (3rm), food processing plant and food warehouse
19investment credit under s. 71.28 (3rn), enterprise zone jobs credit under s. 71.28
20(3w), early stage seed investment credit under s. 71.28 (5b) (d) 4., film production
21services credit under s. 71.28 (5f), film production company investment credit under
22s. 71.28 (5h), beginning farmer and farm asset owner tax credit under s. 71.28 (8r),
23and estimated tax payments under s. 71.29.

SB463-ASA1,9,3

---

171.47 (5b) (d) 1. Section For taxable years beginning before January 1, 2012,
2s. 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit
3under this subsection.

SB463-ASA1,9,75 71.47 (5b) (d) 1m. For taxable years beginning after December 31, 2011, s.
671.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the
7credit under this subsection.

SB463-ASA1,9,1410 71.47 (5b) (d) 3. For Except as provided under s. 238.15 (3) (d) (intro.), for
11investments made after December 31, 2007, if an investment for which a claimant
12claims a credit under par. (b) is held by the claimant for less than 3 years, the
13claimant shall pay to the department, in the manner prescribed by the department,
14the amount of the credit that the claimant received related to the investment.

SB463-ASA1,9,2116 71.47 (5b) (d) 4. For taxable years beginning after December 31, 2011, if the
17allowable amount of the claim under par. (b) exceeds the tax otherwise due under s.
1871.43, the amount of the claim not used to offset the tax due shall be certified by the
19department of revenue to the department of administration for payment by check,
20share draft, or other draft drawn from the appropriation account under s. 20.835 (2)
21(ba).

SB463-ASA1,9,2423 71.49 (1) (eop) Early stage seed investment credit under s. 71.47 (5b), except
24as provided under par. (f).

SB463-ASA1,10,10

---

171.49 (1) (f) The total of farmland preservation credit under subch. IX,
2farmland tax relief credit under s. 71.47 (2m), dairy manufacturing facility
3investment credit under s. 71.47 (3p), jobs credit under s. 71.47 (3q), meat processing
4facility investment credit under s. 71.47 (3r), woody biomass harvesting and
5processing credit under s. 71.47 (3rm), food processing plant and food warehouse
6investment credit under s. 71.47 (3rn), enterprise zone jobs credit under s. 71.47
7(3w), early stage seed investment credit under s. 71.47 (5b) (d) 4., film production
8services credit under s. 71.47 (5f), film production company investment credit under
9s. 71.47 (5h), beginning farmer and farm asset owner tax credit under s. 71.47 (8r),
10and estimated tax payments under s. 71.48.

SB463-ASA1,10,2113 73.03 (63) Notwithstanding the amount limitations specified under s. 71.07
14(5d) (c) 1. and s. 238.15 (3) (d) or s. 560.205 (3) (d), 2009 stats., in consultation with
15the department of commerce or the Wisconsin Economic Development Corporation,
16to carry forward to subsequent taxable years unclaimed credit amounts of the early
17stage seed investment credits under ss. 71.07 (5b), 71.28 (5b), 71.47 (5b), and 76.638
18and the angel investment credit under s. 71.07 (5d). Annually, no later than July 1,
19the department of commerce or the Wisconsin Economic Development Corporation
20shall submit to the department of revenue its recommendations for the carry forward
21of credit amounts as provided under this subsection.

SB463-ASA1,11,724 238.15 (1) Angel investment tax credits. (intro.) The corporation shall
25implement a program to certify businesses for purposes of s. 71.07 (5d). A business

---

1desiring certification shall submit an application to the corporation in each taxable
2year for which the business desires certification. The business shall specify in its
3application the investment amount it wishes to raise and the corporation may certify
4the business and determine the amount that qualifies for purposes of s. 71.07 (5d).
5 A business may be certified under this subsection, and may maintain such
6certification, The corporation may certify or recertify a business for purposes of s.
771.07 (5d) only if the business satisfies all of the following conditions:

SB463-ASA1,11,1110 238.15 (1) (h) It At the time it is initially certified under this subsection, it has
11less than 100 employees.

SB463-ASA1,11,1514 238.15 (1) (j) It At the time it is initially certified under this subsection, it has
15been in operation in this state for not more than 10 consecutive years.

SB463-ASA1,11,2018 238.15 (1) (km) It has not received aggregate private equity investment in cash
19of more than $10,000,000 prior to being before it is initially certified under this
20subsection.

SB463-ASA1,12,322 238.15 (1) (m) 1. It agrees that it will not relocate outside of this state during
23the 3 years after it receives an investment for which a person may claim a tax credit
24under s. 71.07 (5d) and agrees to pay the corporation a penalty, in an amount
25determined under subd. 2., if the business relocates outside of this state during that

---

13-year period. For the purposes of this paragraph, a business relocates outside of
2this state when the business locates more than 51 percent of any of the following
3outside of this state:

SB463-ASA1,12,44 a. The business's employees.