SB 573

This bill establishes criminal penalties and other consequences for committing

fraud against the Wisconsin Economic Development Corporation (WEDC). Under

the bill, no one may make or cause to be made a false statement on an application

for a grant, loan, tax benefit, or other benefit or payment (benefit) from WEDC or

make or cause to be made a false statement of a material fact used to determine

eligibility for a benefit from WEDC.

Additionally, if a person knows of the occurrence of any event that would affect

the initial or continued eligibility for a benefit from WEDC, he or she may not conceal

or fail to disclose that event in order to secure a benefit from WEDC or to secure a

larger benefit than he or she is entitled or eligible to receive. Finally, no one may use

a benefit from WEDC that is intended for a specific use for any other use. A person

who does any of these things is guilty of a Class E felony and may be imprisoned for

up to 15 years, fined up to $50,000, or both.

Also, under the bill, if a person, or the person's authorized agent on behalf of

that person, intentionally commits such economic development benefits fraud, the

person, including all affiliates and successors, is ineligible for economic development

benefits from WEDC for seven years from the date on which the fraudulent act was

committed.