(1) In this section, “economic development program” means a program or activity having the primary purpose of encouraging the establishment and growth of business in this state, including the creation and retention of jobs, and that satisfies all of the following: (a) The program receives funding from the state or federal government that is allocated through an appropriation under ch. 20. (b) The program provides financial assistance, tax benefits, or direct services to specific industries, businesses, local governments, or organizations. (2) The department, in consultation with the Wisconsin Economic Development Corporation, shall do all of the following for each economic development program administered by the department: (a) Establish clear and measurable goals for the program that are tied to statutory policy objectives. (b) Establish at least one quantifiable benchmark for each program goal described in par. (a). (c) Require that each recipient of a grant or loan under the program submit a report to the department. Each contract with a recipient of a grant or loan under the program shall specify the frequency and format of the report to be submitted to the department and the performance measures to be included in the report. (d) Establish a method for evaluating the projected results of the program with actual outcomes as determined by evaluating the information described in pars. (a) and (b). (e) Annually and independently verify, from a sample of grants and loans, the accuracy of the information required to be reported under par. (c). (f) Establish by rule a requirement that the recipient of a grant or loan under the program of at least $100,000 submit to the department a verified statement signed by both an independent certified public accountant licensed or certified under ch. 442 and the director or principal officer of the recipient to attest to the accuracy of the verified statement, and make available for inspection the documents supporting the verified statement. The department shall include the requirement established by rule under this paragraph in the contract entered into by a grant or loan recipient. (g) Establish by rule policies and procedures permitting the department to do all of the following if a recipient of a grant or loan or tax benefits under the program submits false or misleading information to the department or fails to comply with the terms of a contract entered into with the department under the program and fails to provide to the satisfaction of the department an explanation for the noncompliance: 1. Recoup payments made to the recipient. 2. Withhold payments to be made to the recipient. 3. Impose a forfeiture on the recipient.
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