State Codes and Statutes

State Codes and Statutes

Statutes > Wisconsin > 560 > 560.768

560.768

560.768 Limits on tax benefit to certified person.

560.768(1)

(1)

560.768(1)(a)

(a) The department shall establish a limit on the maximum amount of tax benefits a person certified under s. 560.765 (3) may claim while an area is designated as a development zone.

560.768(1)(b)

(b) When establishing a limit on tax benefits under par. (a), the department shall do all of the following:

560.768(1)(b)1.

1. Consider all of the criteria described in s. 560.765 (3) (a) to (e).

560.768(1)(b)2.

2. Establish a limit which does not greatly exceed a recommended limit, established under rules promulgated by the department based on the cost, number and types of full-time jobs that will be created, retained or upgraded, including full-time jobs available to members of the targeted population, as a result of the economic activity of the person certified under s. 560.765 (3).

560.768(2)

(2) The department may, upon request, increase a limit on tax benefits established under sub. (1) if the department does all of the following:

560.768(2)(a)

(a) Complies with sub. (1) (b) with respect to the proposed increase.

560.768(2)(b)

(b) Revises the certification required under s. 560.765 (5) and provides a copy of the revised form to the department of revenue and the person whose limit is increased under this subsection.

560.768(3)

(3)

560.768(3)(a)

(a) The department may reduce a limit established under sub. (1) or (2) if the department determines that any of the following applies:

560.768(3)(a)1.

1. The limit is not consistent with the criteria listed under s. 560.765 (3) (a) to (e).

560.768(3)(a)2.

2. The information on which the limit is based was inaccurate or significantly misestimated.

560.768(3)(b)

(b) The department shall notify the department of revenue and the person whose limit on tax benefits is reduced under par. (a) and provide a written explanation to the person of the reasons for reducing the limit.

560.768 - ANNOT.

History: 1987 a. 328; 1989 a. 31, 56; 1997 a. 27; 2005 a. 253.