This article presents the semantic layer of Walenty―a new valence dictionary of Polish predicates, with a number of novel features, as compared to other such dictionaries. The dictionary contains two layers, syntactic and semantic. The syntactic layer describes syntactic and morphosyntactic constraints predicates put on their dependants. In particular, it includes a comprehensive and powerful phraseological component. The semantic layer shows how predicates and their arguments are involved in a described situation in an utterance. These two layers are connected, representing how semantic arguments can be realised on the surface. Each syntactic schema and each semantic frame are illustrated by at least one exemplary sentence attested in linguistic reality. The semantic layer consists of semantic frames represented as lists of pairs and connected with PlWordNet lexical units. Semantic roles have a two-level representation (basic roles are provided with an attribute) enabling representation of arguments in a flexible way. Selectional preferences are based on PlWordNet structure as well.