(b) The department may not award a grant that exceeds $1,250,000.
(c) The department shall award at least 7 grants for projects that are located in municipalities with a population of less than 30,000.
(5) Before the department awards a grant under this section, the department shall consider the recommendations of the department of administration and the department of natural resources.
(6) The department shall promulgate rules that establish criteria, within the guidelines under subs. (2) and (3), for awarding grants under this section, including the circumstances under which grant proceeds may be used for assessment services.
(7) On or before December 31, 1998, and annually thereafter, the department shall submit a report on the effectiveness of the program under this section to the legislature under s. 13.172 (2) and to the governor and the department of administration.
27,4352
Section 4352
. 560.135 of the statutes is created to read:
560.135 Mining economic development grants and loans. (1) In this section:
(a) “Area affected by mining" means an area in which all of the following apply:
1. Public and private infrastructure are or were provided to support mining activity.
2. Public funds are or were expended for costs associated with mining activity.
3. Construction of a mine has commenced and economic diversification is necessary to reduce dependence on mining activity for the long-term economic growth and stability of the area.
(b) “Board" means the development finance board.
(c) “Business" has the meaning given in s. 560.60 (2).
(d) “Community-based organization" has the meaning given in s. 560.14 (1) (c).
(e) “Local development corporation" means any of the following:
1. The elected governing body of a federally recognized American Indian tribe or band in this state or any business created by the elected governing body.
2. A nonprofit corporation organized under ch. 181 that does all of the following:
a. Operates within specific geographic boundaries.
b. Promotes the economic development within the specific geographic area.
(f) “Mining" means metallic mineral mining.
(2) Subject to subs. (3) and (4), the board may award a grant or loan for the purpose specified to any of the following entities located in an area affected by mining:
(a) A business, to finance costs associated with start-up, maintenance or expansion in an area affected by mining.
(b) A city, village, town or county, to develop an economic diversification plan.
(c) A city, village, town, county, community-based organization or local development corporation, to establish a local revolving loan fund to finance businesses that will create long-term employment opportunities.
(d) A community-based organization or local development corporation, to conduct a local economic development project that will create long-term employment opportunities and to provide assistance to businesses or entrepreneurs.
(e) A business, to obtain professional services related to the start-up, maintenance or expansion of the business, including assistance with feasibility studies or financial and marketing plans and managerial assistance after start-up or expansion.
(3) The board may not award a grant or loan under sub. (2) if the proceeds will be used to establish or expand a business that is solely dependent on mining activity.
(4) (a) The board may not award a grant or loan under sub. (2) (a), (b) or (d) that exceeds $100,000.
(b) The board may not award a grant or loan under sub. (2) (c) that exceeds $200,000.
(c) The board may not award a grant or loan under sub. (2) (e) that exceeds $15,000.
(5) In awarding grants and loans under sub. (2), the board shall consider all of the following:
(a) The factors under s. 560.605 (2) (a) to (e).
(b) Whether the project will be located in a targeted area, as determined by the board after considering the factors under s. 560.605 (2m) (a) to (h).
(c) The extent to which the business or other entity assisted by the project is likely to provide stable, long-term employment opportunities to reduce the dependence of the area on mining.
(6) From the appropriations under s. 20.143 (1) (if) and (r), the department shall make grants and loans awarded by the board under sub. (2).
(7) The department, with the approval of the board, shall promulgate rules establishing policies and standards for awarding grants and loans under sub. (2), consistent with policies and standards established under the rules required under s. 560.602. The department shall promulgate rules regarding the application processes for grants and loans under sub. (2) and for loans made from revolving loan funds established with proceeds awarded under sub. (2) (c).
27,4353
Section 4353
. 560.14 (1) (ar) of the statutes is created to read:
560.14 (1) (ar) “Brownfields" has the meaning given in s. 560.60 (1v).
27,4353m
Section 4353m. 560.14 (1) (fm) of the statutes is created to read:
560.14 (1) (fm) “Small business" means a business that has fewer than 100 full-time employes.
27,4354
Section 4354
. 560.14 (2) (a) 1. of the statutes is amended to read:
560.14 (2) (a) 1. Enable a community-based organization or a political subdivision receiving a grant to develop a plan for diversifying its the local or regional economy, attracting new businesses and jobs and promoting economic development.
27,4355
Section 4355
. 560.14 (2) (c) (intro.) of the statutes is renumbered 560.14 (2) (c) and amended to read:
560.14 (2) (c) An individual grant under this subsection may not exceed whichever of the following applies: $30,000.
27,4356
Section 4356
. 560.14 (2) (c) 1. of the statutes is repealed.
27,4357
Section 4357
. 560.14 (2) (c) 2. of the statutes is repealed.
27,4357m
Section 4357m. 560.14 (3m) of the statutes is created to read:
560.14 (3m) The department may make a grant from the appropriation under s. 20.143 (1) (fg) to a community-based organization for the purpose of creating a revolving loan fund for making loans to small businesses. The department shall promulgate rules for the administration of the program under this subsection.
27,4357r
Section 4357r. 560.14 (3r) of the statutes is created to read:
560.14 (3r) (a) The department may make a grant from the appropriation under s. 20.143 (1) (fg) to a private, nonprofit foundation, including the National Foundation for Teaching Entrepreneurship to Handicapped and Disadvantaged Youth, or other private, nonprofit organizations if all of the following apply:
1. The foundation or organization teaches business skills to economically disadvantaged or socially at-risk children.
2. The grant proceeds will be used for costs associated with teaching the skills and developing the knowledge necessary to start and maintain a business enterprise.
(b) The department shall promulgate rules for the administration of the program under this subsection.
27,4358
Section 4358
. 560.14 (4m) of the statutes is created to read:
560.14 (4m) (a) Subject to par. (b), the department may make a grant under this subsection from the appropriation under s. 20.143 (1) (fg) to a community-based organization or private nonprofit organization for a venture capital development conference if all of the following apply:
1. The conference will assist entrepreneurs or businesses in the state in obtaining capital for the start-up or development of a business.
2. The conference will likely stimulate investment, promote economic development or create or retain jobs in the state.
3. The grant applicant submits a plan that describes the proposed activity, how the activity satisfies the criteria under this paragraph, how the grant will be administered, how the grant proceeds will be used to support the activity and how the activity will be coordinated with other venture capital development conferences or programs, including any conferences or programs of the department.
4. The secretary approves the plan under subd. 3.
5. The grant applicant funds at least 50% of the total cost of the conference by providing cash or in-kind contributions.
(b) The department may not award more than $75,000 in grants under this subsection in any fiscal year.
27,4359
Section 4359
. 560.14 (5) (b) of the statutes is amended to read:
560.14 (5) (b) Promulgate
Subject to par. (d), promulgate rules to develop criteria for evaluating applications for grants under this section.
27,4359m
Section 4359m. 560.14 (5) (c) of the statutes is amended to read:
560.14 (5) (c) Consistent with subs. (2), (3) and (4) to (4m), award grants under this section on a competitive basis, using the criteria developed under par. (b).
27,4360
Section 4360
. 560.14 (5) (d) of the statutes is created to read:
560.14 (5) (d) Give priority for grants under this section for projects related to brownfields redevelopment.
27,4363
Section 4363
. 560.16 (title) of the statutes is amended to read:
560.16 (title) Employe ownership assistance loans grants.
27,4364
Section 4364
. 560.16 (1) (b) of the statutes is amended to read:
560.16 (1) (b) “Business" means an employe-owned business or an existing business which is the subject of an application for a loan grant under this section.
27,4365
Section 4365
. 560.16 (2) (title) of the statutes is amended to read:
560.16 (2) (title) Employe ownership assistance loans grants.
27,4366
Section 4366
. 560.16 (2) (a) of the statutes is amended to read:
560.16 (2) (a) From the appropriations under s. 20.143 (1) (c) and (ie), the department may make loans grants to existing business groups for a feasibility study to investigate the reorganization or new incorporation of an existing business as an employe-owned business and for professional services to implement the study.
27,4367
Section 4367
. 560.16 (2) (b) of the statutes is amended to read:
560.16 (2) (b) The department may not make a
loan grant under this section unless the board has approved the loan grant under this section or requested the department to make the grant under s. 560.61 (3).
27,4368
Section 4368
. 560.16 (2) (c) (intro.) of the statutes is amended to read:
560.16 (2) (c) (intro.) The board may not approve a loan grant under this section unless the board has considered all of the following:
27,4369
Section 4369
. 560.16 (2) (d) of the statutes is amended to read:
560.16 (2) (d) The board may approve a loan grant regardless of the number of employes laid off or to be laid off by the business or, if the business is closed, the length of time that it has been closed.
27,4370
Section 4370
. 560.16 (3) (intro.) of the statutes is amended to read:
560.16 (3) (title) Loan Grant applications. (intro.) To apply for a loan grant under this section, a group shall submit an application to the department which includes:
27,4371
Section 4371
. 560.16 (3) (e) of the statutes is amended to read:
560.16 (3) (e) A description of the group's financial assets available to match the loan grant and a statement indicating the group's willingness to match the loan grant.
27,4372
Section 4372
. 560.16 (3) (f) of the statutes is amended to read:
560.16 (3) (f) A written commitment from a person with the recognized expertise and experience necessary to conduct the feasibility study or provide the professional services to be financed by the loan grant.
27,4373
Section 4373
. 560.16 (4) (title) of the statutes is amended to read:
560.16 (4) (title) Loan Grant limits; contract approval.
