Wisconsin Statutes 238.07 – Submission of annual reports to legislature
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Terms Used In Wisconsin Statutes 238.07
- 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.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Municipality: includes cities and villages; it may be construed to include towns. 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
- Year: means a calendar year, unless otherwise expressed; "year" alone means "year of our Lord". See Wisconsin Statutes 990.01
(1) Annually, by January 1, the board shall submit to the chief clerk of each house of the legislature, for distribution to the legislature under s. 13.172 (2), a report identifying the economic development projects that the board intends to develop and implement during the current calendar year.
(2) Annually, no later than October l, the board shall submit to the joint legislative audit committee and the chief clerk of each house of the legislature, for distribution to the legislature under s. 13.172 (2), a report for the previous fiscal year on each of the economic development programs of the corporation that contains all of the following:
(a) A description of each program.
(ag) An accounting of the location, by municipality, of each job created or retained in the state in the previous fiscal year as a result of the program.
(ar) An accounting of the industry classification, by municipality, of each job created or retained in the state as a result of the program.
(b) A comparison of expected and actual program outcomes.
(c) The number of grants made under the program.
(d) The number of loans made under the program.
(dm) The total amount of tax benefits allocated, and the total amount of tax benefits verified to the department of revenue, under the program.
(e) The amount of each grant and loan made under the program.
(f) The recipient of each grant or loan made under the program.
(fm) An identification of each recipient of a tax benefit allocated, and each recipient of a tax benefit that was verified to the department of revenue, under the program.
(g) The sum total of all grants and loans awarded to and received by each recipient under the program.
(h) Any recommended changes to the program.
(3) The board shall make readily accessible to the public on an Internet-based system the information required under sub. (2).
(4) Annually, beginning in 2014, the board shall have an independent audit conducted of the corporation’s financial statements for the previous fiscal year and submit the audit report to the joint legislative audit committee and the chief clerk of each house of the legislature, for distribution to the legislature under s. 13.172 (2).