(1) INVESTMENT AND LOCAL IMPACT FUND BOARD. (a) Creation; membership. There is created an investment and local impact fund board, attached to the department of revenue under s. 15.03, consisting of the following members: 1. The chief executive officer of the Wisconsin Economic Development Corporation and the secretary of revenue or their designees. 2. Three public members. 3. Five local officials consisting of 2 municipal officials, 2 county officials, and one school board member. 4. One Native American. (b) Terms. The public members, local officials and Native American shall be appointed for staggered 4-year terms. (c) Vacancies. If a municipal or county official or a school board member leaves office while serving on the board, the member’s position on the board shall be considered vacant until a successor is appointed under s. 15.07 (1) (b). (d) Qualifications. 1. One of the public members shall reside in a town in which a metalliferous mineral ore body is known to exist. 2. One of the public members shall reside in a county in which metalliferous mineral development is occurring or in an adjacent county. 3. One of the local officials shall reside in a county or school district in which metalliferous mineral development is occurring or in an adjacent county or school district; and 4. One local official shall reside in a county or school district in which metalliferous minerals are extracted or an adjacent county or school district. 5. The Native American shall reside in a municipality in which a metalliferous mineral ore body is known to exist. (e) Recommendations. 1. One public member shall be recommended by the town boards in towns in which a metalliferous mineral ore body is known to exist. Preference shall be given to the appointment of a public member who resides in a township in which the development of a metalliferous mineral ore body is occurring. 2. One municipal official member shall be recommended by the League of Wisconsin Municipalities. 3. One municipal official member shall be recommended by the Wisconsin Towns Association. 4. The school board member shall be recommended by the Wisconsin Association of School Boards. 5. The county official members shall be recommended by the Wisconsin Counties Association. 6. The Native American member shall be recommended by the Great Lakes Inter-Tribal Council, Inc. Preference should be given to the appointment of a Native American who resides in a town in which the development of a metalliferous mineral ore body is occurring. (g) Assistance; advice. The board may request of any state agency such assistance as may be necessary for the board to fulfill its duties.
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