AB1033, s. 53
11Section
53. 560.725 (1) (a) to (h) of the statutes are repealed.
AB1033, s. 54
12Section
54. 560.725 (2) of the statutes is amended to read:
AB1033,15,1813
560.725
(2) Subject to s. 560.735 (5), the department may reduce the size of an
14area nominated as a development zone, if the department determines the boundaries
15as proposed by the local governing body in an application under s. 560.72 (2)
to (4) 16or (3) are inconsistent with the purpose of the development zone program. Any
17nominated area which is reduced under this subsection need not comply with s.
18560.735 (1)
, (3) and (4).
AB1033, s. 55
19Section
55. 560.725 (3) of the statutes is amended to read:
AB1033,15,2520
560.725
(3) After evaluating an application submitted under s. 560.72 (2)
to (4) 21or (3), the department may approve the application, subject to any reduction in the
22size of the nominated area under sub. (2). If the department approves the
23application, the department shall notify the local governing body and request the
24local governing body to submit a development zone plan under s. 560.73 (1)
or (2),
25whichever is applicable.
AB1033, s. 56
1Section
56. 560.73 (1) (c) 6. of the statutes is repealed.
AB1033, s. 57
2Section
57. 560.73 (1) (f) of the statutes is amended to read:
AB1033,16,43
560.73
(1) (f) Any changes in ordinances, or expenditures of the city, village,
4town
, county or American Indian tribe or band to facilitate economic development.
AB1033, s. 58
5Section
58. 560.73 (1) (g) of the statutes is amended to read:
AB1033,16,76
560.73
(1) (g) How the local governing body intends to assess the effectiveness
7of its development zone plan submitted under this subsection
or sub. (2).
AB1033, s. 59
8Section
59. 560.73 (3) of the statutes is amended to read:
AB1033,16,139
560.73
(3) After review
based on the relevant criteria under s. 560.725 (1), the
10department may approve a development zone plan. If the department approves a
11development zone plan, the department shall designate the area nominated by the
12local governing body as a development zone, subject to s. 560.71, and notify the local
13governing body.
AB1033, s. 60
14Section
60. 560.735 (1) (a) of the statutes is amended to read:
AB1033,16,1715
560.735
(1) (a) The area contains less than
5% 10% of the valuation of the
16property of the city, village or town, as determined under s. 70.57, in which the area
17is located.
AB1033, s. 61
18Section
61. 560.735 (1) (b) of the statutes is amended to read:
AB1033,16,2119
560.735
(1) (b) If the area is located within a 1st class city, the population of the
20area as estimated under s. 16.96 is not less than 4,000 and not more than
5% 10% 21of the city's population, as estimated under s. 16.96.
AB1033, s. 62
22Section
62. 560.735 (1) (c) of the statutes is amended to read:
AB1033,16,2523
560.735
(1) (c) If the area is located within a village, town or city other than a
241st class city, the population of the area is not less than
4,000 1,000 nor more than
2510,000, as estimated under s. 16.96.
AB1033, s. 63
1Section
63. 560.735 (3) of the statutes is repealed.
AB1033, s. 64
2Section
64. 560.735 (6) (a) (intro.) of the statutes is amended to read:
AB1033,17,53
560.735
(6) (a) (intro.) Except
in a 1st class city as provided in pars. (b) and (c),
42 separate areas may be nominated or designated as one development zone, if all of
5the following apply:
AB1033, s. 65
6Section
65. 560.735 (6) (a) 2. of the statutes is amended to read:
AB1033,17,87
560.735
(6) (a) 2. Each area meets at least
2 3 of the criteria listed in s. 560.71
8(1) (e)
1. to 6 4.
AB1033, s. 66
9Section
66. 560.735 (6) (a) 3. of the statutes is amended to read:
AB1033,17,1110
560.735
(6) (a) 3. Considered together, the areas meet the requirements of
subs. 11sub. (1)
and (3).
AB1033, s. 67
12Section
67. 560.735 (6) (b) of the statutes is amended to read:
AB1033,17,1513
560.735
(6) (b)
In Except as provided in par. (c), in a 1st class city,
not more than 14 4 up to 8 separate areas may be nominated or designated as one development zone,
15if par. (a) 1. to 3. applies.
AB1033, s. 68
16Section
68. 560.735 (6) (c) of the statutes is created to read:
AB1033,17,1917
560.735
(6) (c) If an application is submitted by the governing body of a county
18under s. 560.72 (2) or (3), up to 4 separate areas may be nominated or designated as
19one development zone, if par. (a) 1. to 3. applies.
AB1033, s. 69
20Section
69. 560.74 (2) of the statutes is amended to read:
AB1033,17,2321
560.74
(2) The department may approve an application for a boundary change
22if the development zone, as affected by the boundary changes, meets the applicable
23requirements of s. 560.735 and
2 3 of the criteria under s. 560.71 (1) (e)
1. to 6 4.
AB1033, s. 70
24Section
70. 560.745 (1) (a) of the statutes is amended to read:
AB1033,18,3
1560.745
(1) (a) The designation of an area as a development zone shall be
2effective for
84 months 10 years, beginning on the day the department notifies the
3local governing body under s. 560.73 (3) of the designation.
AB1033, s. 71
4Section
71. 560.745 (1) (b) of the statutes is amended to read:
AB1033,18,85
560.745
(1) (b) The local governing body may apply to the department for
up
6to 3 12-month extensions one 5-year extension of the designation. The department
7shall promulgate rules establishing criteria for approving an extension of a
8designation of an area as a development zone under this subsection.
AB1033, s. 72
9Section
72. 560.745 (2) (a) of the statutes is amended to read:
AB1033,18,1310
560.745
(2) (a) When the department designates a development zone under s.
11560.71, it shall establish a limit for tax benefits for the development zone determined
12by allocating to the development zone
, under rules promulgated by the department, 13a portion of
$21,155,000 $33,155,000.
AB1033, s. 73
14Section
73. 560.75 (3) of the statutes is repealed.
AB1033, s. 74
15Section
74. 560.763 (title) of the statutes is amended to read:
AB1033,18,16
16560.763 (title)
Duties of local governing bodies; advisory boards.
AB1033, s. 75
17Section
75. 560.763 (1) (a) of the statutes is repealed.
AB1033, s. 76
18Section
76. 560.763 (2) of the statutes is repealed.
AB1033, s. 77
19Section
77. 560.763 (3) of the statutes is repealed.
AB1033,18,2523
560.797
(1) (c) "Target population"
means persons who are members of targeted
24groups for the purpose of the credit under ss. 71.07 (2dj), 71.28 (1dj) and 71.47 (1dj) 25has the meaning given in s. 560.70 (6).
AB1033,19,7
21
Tax credits. (a) The treatment of sections 20.835 (2) (cm) and (cn), 71.07
3(2dd) (f), (2dj) (am) 1. and 8m., (d) and (h) and (2ds) (c) and (h), 71.10 (4) (gd), (ge) and
4(i), 71.28 (1dd) (f), (1dj) (am) 1. and 8m., (d) and (h) and (1ds) (c) and (h), 71.30 (3) (eb),
5(ec) and (f), 71.47 (1dd) (f), (1dj) (am) 1. and 8m., (d) and (h) and (1ds) (c) and (h) and
671.49 (1) (eb), (ec) and (f) of the statutes first applies to taxable years beginning on
7January 1, 1997.
AB1033,19,108
(b) The treatment of sections 71.07 (2dd) (a) 1., 71.28 (1dd) (a) 1. and 71.47 (1dd)
9(a) 1. of the statutes applies retroactively to taxable years beginning on January 1,
101995.
AB1033,19,16
112
Development zone program changes. The treatment of sections 560.70 (4)
12and (6), 560.71 (1) (cm) and (e) and (1m), 560.72 (2) (c), (3) and (4), 560.723, 560.725
13(1) (intro.) and (a) to (h), (2) and (3), 560.73 (1) (f) and (g) and (3), 560.735 (6) (a)
14(intro.) and 2. and (c) and 560.74 (2) of the statutes first applies to areas nominated
15for designation as development zones for which applications are submitted on the
16effective date of this subsection.
