Wisconsin Statutes 238.398 – Agricultural development zone
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Terms Used In Wisconsin Statutes 238.398
- 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.
- 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
- Population: means that shown by the most recent regular or special federal census. 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
- Town: may be construed to include cities, villages, wards or districts. See Wisconsin Statutes 990.01
- Village: means incorporated village. See Wisconsin Statutes 990.01
(1) In this section, “rural municipality” means any of the following:
(a) A city, town, or village that is located in a county with a population density of less than 150 persons per square mile.
(b) A city, town, or village with a population of 6,000 or less.
(2)
(a) Except as provided under par. (c), the corporation may designate one area in the state as an agricultural development zone. The area must be located in a rural municipality. An agricultural business that is located in an agricultural development zone and that is certified by the corporation under sub. (3) is eligible for tax benefits as provided in sub. (3).
(b) The designation of an area as an agricultural development zone shall be in effect for 10 years from the time that the corporation first designates the area. Not more than $5,000,000 in tax benefits may be claimed in an agricultural development zone. The corporation may change the boundaries of an agricultural development zone during the time that its designation is in effect. A change in the boundaries of an agricultural development zone does not affect the duration of the designation of the area or the maximum tax benefit amount that may be claimed in the agricultural development zone.
(c) No area may be designated as an agricultural development zone on or after March 6, 2009.
(3)
(a) Except as provided under par. (c), the corporation may certify for tax benefits in an agricultural development zone a new or expanding agricultural business that is located in the agricultural development zone. In determining whether to certify a business under this subsection, the corporation shall consider, among other things, the number of jobs that will be created or retained by the business.
(b) When the corporation certifies an agricultural business under this subsection, the corporation shall establish a limit on the amount of tax benefits that the business may claim. The corporation shall enter into an agreement with the business that specifies the limit on the amount of tax benefits that the business may claim and reporting requirements with which the business must comply.
(c) No business may be certified under this subsection on or after March 6, 2009.
(4)
(a) The corporation shall notify the department of revenue of all the following:
1. An agricultural development zone’s designation.
2. A business’s certification and the limit on the amount of tax benefits that the business may claim.
3. The revocation of a business’s certification.
(b) The corporation shall annually verify information submitted to the corporation under s. 71.07 (2dm) or (2dx), 71.28 (1dm) or (1dx), 71.47 (1dm) or (1dx), or 76.636.
(5) The corporation shall adopt rules for the operation of this section, including rules related to all the following:
(a) Criteria for designating an area as an agricultural development zone.
(b) Criteria for certifying a business for tax benefits.
(c) Standards for establishing the limit on the amount of tax benefits that a business may claim.
(d) Reporting requirements for certified businesses.
(e) The exchange of information between the corporation and the department of revenue.
(f) Reasons for revoking a business’s certification.
(g) Standards for changing the boundaries of an agricultural development zone.