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560.602 History History: 1991 a. 269; 2009 a. 265.
560.605 560.605 Grant and loan criteria; generally.
560.605(1) (1) Upon receipt of an application by an eligible recipient, the department may consider any of the following in determining whether to award a grant or loan under s. 560.61:
560.605(1)(a) (a) Whether the project serves a public purpose.
560.605(1)(b) (b) Whether the project will retain or increase employment in this state.
560.605(1)(c) (c) Whether the project might not occur without the grant or loan.
560.605(1)(d) (d) Whether financing is available from another source on reasonably equivalent terms.
560.605(1)(e) (e) The extent to which the project will be financed with funds not provided by this state.
560.605(1)(g) (g) Whether funds from the grant or loan will be used to pay overhead costs or to replace funds from another source.
560.605(1)(h) (h) Whether the project will displace workers in this state.
560.605(1)(j) (j) The extent to which the project will retain or increase employment in this state.
560.605(1)(k) (k) The extent to which the project will contribute to the economic growth of this state and the well-being of the residents of this state.
560.605(1)(L) (L) Whether the project will be located in an area of high unemployment or low average income.
560.605(1)(m) (m) The financial soundness of the eligible recipient.
560.605(1)(n) (n) The intention of the eligible recipient to repay the grant or loan.
560.605(1)(o) (o) Whether the project will be located in a targeted area.
560.605(1)(p) (p) For an ethanol production facility on which construction begins after July 27, 2005, whether a competitive bidding process is used for the construction of the ethanol production facility.
560.605(2m) (2m) When considering whether a project will be located in a targeted area, the department may consider any of the following:
560.605(2m)(a) (a) Whether the area has high unemployment.
560.605(2m)(b) (b) Whether the area has a low median household income.
560.605(2m)(f) (f) Whether a significant number of workers in the area have been permanently laid off by their employers or whether public notice has been given by an employer of either a plant closing or a substantial reduction in work force that will result in a significant number of workers in the area being laid off permanently.
560.605(2m)(h) (h) Any other factor the department considers to be an appropriate indicator of a targeted area.
560.605(7) (7) The department shall award not less than 35 percent of the total amount of grants and loans made under this subchapter to businesses in distressed areas. In this paragraph, "distressed area" means an area to which any of the following apply:
560.605(7)(a) (a) The area has a high level of unemployment.
560.605(7)(b) (b) The area has a low median household income.
560.605(7)(c) (c) A significant number of workers in the area have been permanently laid off.
560.605(7)(d) (d) An employer in the area has given public notice of a plant closing or a substantial reduction in force that will result in a significant number of workers in the area being permanently laid off.
560.605(7)(f) (f) As determined by the department, the area is affected by another factor that indicates the area is a distressed area.
560.607 560.607 Miscellaneous and administrative expenditures. In each biennium, the department may expend or encumber up to a total of 1% of the moneys appropriated under s. 20.143 (1) (c) for that biennium for any of the following:
560.607(1) (1) Evaluations of proposed technical research projects.
560.607(3) (3) Evaluation costs, collection costs, foreclosure costs and other costs associated with administering the loan portfolio under this subchapter, excluding staff salaries.
560.607 History History: 1999 a. 9 ss. 2993, 2996; 2007 a. 20, 125.
560.61 560.61 Wisconsin development fund. The department may make a grant or loan to an eligible recipient from the appropriations under s. 20.143 (1) (c) and (ie).
560.68 560.68 Administration.
560.68(1m)(1m) The department shall establish criteria for the award of grants and loans under s. 560.61, including the types of projects that are eligible for funding and the types of eligible projects that will receive priority.
560.68(2) (2) The department shall actively encourage small businesses to apply for grants and loans under this subchapter by ensuring that there are no undue impediments to their participation and by assisting small businesses in preparing grant and loan applications.
560.68(2m) (2m) The department shall determine conditions applicable to a grant or loan under s. 560.61.
560.68(3) (3) The department may charge a grant or loan recipient an origination fee of not more than 2% of the grant or loan amount if the grant or loan equals or exceeds $100,000. The department shall deposit all origination fees collected under this subsection in the appropriation account under s. 20.143 (1) (gm).
560.68(4) (4) The department shall develop a policy relating to obtaining reimbursement of grants and loans provided under this subchapter. The policy may provide that reimbursement shall be obtained through full repayment of the principal amount of the grant or loan plus interest, through receipt of a share of future profits from or an interest in a product or process, or through any other appropriate means.
560.68(5) (5) The department shall develop procedures related to grants and loans under s. 560.61 for all of the following:
560.68(5)(a) (a) Submitting applications for grants and loans.
560.68(5)(b) (b) Evaluating applications.
560.68(5)(c) (c) Monitoring project performance.
560.68(5)(d) (d) Auditing the grants and loans.
560.68(5m) (5m) The department shall establish and implement procedures for monitoring the use of grants and loans awarded under this subchapter, including procedures for verification of economic growth, job creation and the number and percentage of newly created jobs for which state residents are hired.
560.68(6) (6) The department shall require, as a condition of a grant or loan, that a recipient contribute to a project an amount that is not less than 25% of the amount of the grant or loan.
560.68(7) (7) The department shall encourage small businesses to apply for grants and loans under this subchapter by ensuring that there are no undue impediments to their participation and by actively encouraging small businesses to apply for grants and loans. The department shall do all of the following:
560.68(7)(a) (a) Publish and disseminate information about projects that may be funded by a grant or loan under s. 560.61 and about procedures for applying for grants and loans under s. 560.61.
560.68(7)(b) (b) Simplify the application and review procedures for small businesses so that they will not impose unnecessary administrative burdens on small businesses.
560.68(7)(c) (c) Assist small businesses in preparing applications for grants and loans.
subch. VI of ch. 560 SUBCHAPTER VI
TAX INCENTIVES FOR BUSINESS
DEVELOPMENT IN WISCONSIN
Subch. VI of ch. 560 Cross-reference Cross-reference: See also s. Comm 112.01, Wis. adm. code.
560.70 560.70 Definitions. In this section and ss. 560.71 to 560.795:
560.70(1) (1) "Business incubator" means a person who operates a facility designed to encourage the growth of new businesses, if at least 2 of the following apply:
560.70(1)(a) (a) Space in the facility is rented at a rate lower than the market rate in the community.
560.70(1)(b) (b) Shared business services are provided in the facility.
560.70(1)(c) (c) Management and technical assistance are available at the facility.
560.70(1)(d) (d) Businesses using the facility may obtain financial capital through a direct relationship with at least one financial institution.
560.70(2) (2) "Development zone program" means the program administered under this subchapter.
560.70(2g) (2g) "Eligible activity" means an activity described under s. 560.702.
560.70(2m) (2m)
560.70(2m)(a)(a) Except as provided in par. (b), "full-time job" means a regular, nonseasonal full-time position in which an individual, as a condition of employment, is required to work at least 2,080 hours per year, including paid leave and holidays, and for which the individual receives pay that is equal to at least 150% of the federal minimum wage and benefits that are not required by federal or state law. "Full-time job" does not include initial training before an employment position begins.
560.70(2m)(b) (b) The department may by rule specify circumstances under which the department may grant exceptions to the requirement under par. (a) that a full-time job means a job in which an individual, as a condition of employment, is required to work at least 2,080 hours per year, but under no circumstances may a full-time job mean a job in which an individual, as a condition of employment, is required to work less than 37.5 hours per week.
560.70(3) (3) "Indian reservation" has the meaning given in s. 139.30 (9).
560.70(4) (4) "Local governing body" means the governing body of one or more cities, villages, towns or counties or the elected governing body of a federally recognized American Indian tribe or band in this state.
560.70(4m) (4m) "Member of a targeted group" means a person who resides in an area designated by the federal government as an economic revitalization area, a person who is employed in an unsubsidized job but meets the eligibility requirements under s. 49.145 (2) and (3) for a Wisconsin Works employment position, a person who is employed in a trial job, as defined in s. 49.141 (1) (n), or in a real work, real pay project position under s. 49.147 (3m), a person who is eligible for child care assistance under s. 49.155, a person who is a vocational rehabilitation referral, an economically disadvantaged youth, an economically disadvantaged veteran, a supplemental security income recipient, a general assistance recipient, an economically disadvantaged ex-convict, a dislocated worker, as defined in 29 USC 2801 (9), or a food stamp recipient, if the person has been certified in the manner under 26 USC 51 (d) (13) (A) by a designated local agency, as defined in 26 USC 51 (d) (12).
560.70(5) (5) "Metropolitan statistical area" means a federal standard metropolitan statistical area but does not include areas located within Indian reservations.
560.70(6) (6) "Target population" means persons who are members of targeted groups for the purposes of the credit under ss. 71.07 (2dx), 71.28 (1dx), 71.47 (1dx), and 76.636.
560.70(7) (7)
560.70(7)(a)(a) Except as provided in pars. (b), (c), and (d), "tax benefits" means the development zones credit under ss. 71.07 (2dx), 71.28 (1dx), 71.47 (1dx), and 76.636.
560.70(7)(b)1.1. Except as provided in subd. 2., in s. 560.795, "tax benefits" means the development zones investment credit under ss. 71.07 (2di), 71.28 (1di), and 71.47 (1di) and the development zones credit under ss. 71.07 (2dx), 71.28 (1dx), 71.47 (1dx), and 76.636. With respect to the development opportunity zones under s. 560.795 (1) (e) and (f), "tax benefits" also means the development zones capital investment credit under ss. 71.07 (2dm), 71.28 (1dm), and 71.47 (1dm).
560.70(7)(b)2. 2. With respect to the development opportunity zones under s. 560.795 (1) (g) and (h), "tax benefits" means the development zone credits under ss. 71.07 (2dx), 71.28 (1dx), 71.47 (1dx), and 76.636 and the development zones capital investment credit under ss. 71.07 (2dm), 71.28 (1dm), and 71.47 (1dm).
560.70(7)(c) (c) In s. 560.798, "tax benefits" means the development zones capital investment credit under ss. 71.07 (2dm), 71.28 (1dm), and 71.47 (1dm) and the development zones credits under ss. 71.07 (2dx), 71.28 (1dx), 71.47 (1dx), and 76.636.
560.70(7)(d) (d) In ss. 560.701 to 560.706, "tax benefits" means the economic development tax credit under ss. 71.07 (2dy), 71.28 (1dy), 71.47 (1dy), and 76.637.
560.701 560.701 Certification for tax benefits.
560.701(1) (1)Application. Any person may apply to the department on a form prepared by the department for certification under this section. The application shall include all of the following:
560.701(1)(a) (a) The name and address of the person.
560.701(1)(b) (b) The federal tax identification number of the person.
560.701(1)(c) (c) The names and addresses of the locations where the person conducts business and a description of the business activities conducted at those locations.
560.701(1)(d) (d) A description of each eligible activity conducted or proposed to be conducted by the person.
560.701(1)(e) (e) Other information required by the department or the department of revenue.
560.701(2) (2)Certification.
560.701(2)(a)(a) The department may certify a person who submits an application under sub. (1) if, after conducting an investigation, the department determines that the person is conducting or intends to conduct at least one eligible activity.
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This is an archival version of the Wis. Stats. database for 2009. See Are the Statutes on this Website Official?