Wisconsin Statutes 238.12 – Repayment of grants, loans, and tax benefits
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Wisconsin Statutes 238.12
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
(1) In this section, “tax benefits” means the credits under ss. 71.07 (2dm), (2dx), (3g), (3t), and (3wm), 71.28 (1dm), (1dx), (3g), (3t), and (3wm), 71.47 (1dm), (1dx), (3g), and (3t), and 76.636.
(2) The corporation may not award a grant or loan under this chapter to a person or certify a person to receive tax benefits unless the corporation enters into an agreement with the person that requires the person to repay the grant, loan, or tax benefits if, within 5 years after receiving the grant or loan or being certified to receive tax benefits, the person ceases to conduct in this state the economic activity for which the person received the grant or loan or for which the person was certified to receive tax benefits and commences substantially the same economic activity outside this state.