SB21-SA2,2,25 13.94 (1) (mm) No later than July 1, 2012, prepare a financial and performance
6evaluation audit of the economic development programs administered by the
7University of Wisconsin System, the department of agriculture, trade and consumer
8protection, the department of natural resources, the Wisconsin next generation
9reserve board, the Wisconsin Housing and Economic Development Authority, the
10Wisconsin Economic Development Corporation, the department of tourism, the
11technical college system, and the department of transportation. In this paragraph,
12economic development program has the meaning given in s. 23.167 (1). The

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1legislative audit bureau shall file a copy of the report of the audit under this
2paragraph with the distributees specified in par. (b).".

SB21-SA2,2,9 5"555.063 Goals and accountability measures for economic
6development programs. (1) In this section, "economic development program"
7means a program or activity having the primary purpose of encouraging the
8establishment and growth of business in this state, including the creation and
9retention of jobs, and that satisfies all of the following:

SB21-SA2,2,1110 (a) The program receives funding from the state or federal government that is
11allocated through an appropriation under ch. 20.

SB21-SA2,2,1412 (b) The program provides financial assistance, including grants, loans,
13business investments, or tax benefits, or direct services to specific industries,
14businesses, local governments, or organizations.

SB21-SA2,2,17 15(2) The board, in consultation with the Wisconsin Economic Development
16Corporation, shall do all of the following for each economic development program
17administered by the board:

SB21-SA2,2,1918 (a) Establish clear and measurable goals for the program that are tied to
19statutory policy objectives.

SB21-SA2,2,2120 (b) Establish at least one quantifiable benchmark for each program goal
21described in par. (a).

SB21-SA2,3,222 (c) Require that each recipient of a grant, loan, investment, or tax benefit under
23the program submit a report to the board. Each contract with a recipient of a grant,
24loan, investment, or tax benefit under the program shall specify the frequency and

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1format of the report to be submitted to the board and the performance measures to
2be included in the report.

SB21-SA2,3,53 (d) Establish a method for evaluating the projected results of the program with
4actual outcomes as determined by evaluating the information described in pars. (a)
5and (b).

SB21-SA2,3,86 (e) Annually and independently verify, from a sample of grants, loans,
7investments, or tax benefits, the accuracy of the information required to be reported
8under par. (c).

SB21-SA2,3,169 (f) Establish by rule a requirement that the recipient of a grant, loan,
10investment, or tax benefit under the program of at least $100,000 submit to the board
11a verified statement signed by both an independent certified public accountant
12licensed or certified under ch. 442 and the director or principal officer of the recipient
13to attest to the accuracy of the verified statement, and make available for inspection
14the documents supporting the verified statement. The board shall include the
15requirement established by rule under this paragraph in the contract entered into
16by a grant or loan recipient.

SB21-SA2,3,2117 (g) Establish by rule policies and procedures permitting the board to do all of
18the following if a recipient of a grant, loan, investment, or tax benefit under the
19program submits false or misleading information to the board or fails to comply with
20the terms of a contract entered into with the board under the program and fails to
21provide to the satisfaction of the board an explanation for the noncompliance:

SB21-SA2,3,2222 1. Recoup payments made to the recipient.

SB21-SA2,3,2323 2. Withhold payments to be made to the recipient.

SB21-SA2,3,2424 3. Impose a fine or penalty on the recipient.

SB21-SA2,4,6

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1555.065 Economic development assistance coordination and
2reporting. (1) Annually, no later than October 1, the board shall submit to the joint
3legislative audit committee and to the appropriate standing committees of the
4legislature under s. 13.172 (3) a comprehensive report assessing economic
5development programs, as defined in s. 555.063 (1), administered by the board. The
6report shall include all of the following information:

SB21-SA2,4,77 (a) A description of each program.

SB21-SA2,4,88 (b) A comparison of expected and actual program outcomes.

SB21-SA2,4,99 (c) The number of grants made under the program.

SB21-SA2,4,1010 (d) The number of loans made under the program.

SB21-SA2,4,1111 (e) The number of investments made under the program.

SB21-SA2,4,1212 (f) The amount of each grant, loan, or investment made under the program.

SB21-SA2,4,1313 (g) The recipient of each grant, loan, or investment made under the program.

SB21-SA2,4,1514 (h) The sum total of all grants, loans, and investments awarded to and received
15by each recipient under the program.

SB21-SA2,4,1616 (i) Any recommended changes to the program.

SB21-SA2,4,19 17(2) The board shall collaborate with the Wisconsin Economic Development
18Corporation to make readily accessible to the public on an Internet-based system the
19information required under this section.".