Amendment ASA1-AB100

AB100-ASA1,1704,13 560.14 (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.

AB100-ASA1, s. 2971 Section 2971. 560.14 (2) (c) (intro.) of the statutes is renumbered 560.14 (2) (c) and amended to read:

AB100-ASA1,1704,17 560.14 (2) (c) An individual grant under this subsection may not exceed whichever of the following applies: $30,000.

AB100-ASA1, s. 2972 Section 2972. 560.14 (2) (c) 1. of the statutes is repealed.

AB100-ASA1, s. 2973 Section 2973. 560.14 (2) (c) 2. of the statutes is repealed.

AB100-ASA1, s. 4357m Section 4357m. 560.14 (3m) of the statutes is created to read:

AB100-ASA1,1704,24 560.14 (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.

AB100-ASA1, s. 4357r Section 4357r. 560.14 (3r) of the statutes is created to read:

AB100-ASA1,1705,4 560.14 (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:

AB100-ASA1,1705,6 1. The foundation or organization teaches business skills to economically disadvantaged or socially at-risk children.

AB100-ASA1,1705,9 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.

AB100-ASA1,1705,11 (b) The department shall promulgate rules for the administration of the program under this subsection.

AB100-ASA1, s. 2974 Section 2974. 560.14 (4m) of the statutes is created to read:

AB100-ASA1,1705,16 560.14 (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:

AB100-ASA1,1705,18 1. The conference will assist entrepreneurs or businesses in the state in obtaining capital for the start-up or development of a business.

AB100-ASA1,1705,20 2. The conference will likely stimulate investment, promote economic development or create or retain jobs in the state.

AB100-ASA1,1705,25 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.

AB100-ASA1,1706,1 4. The secretary approves the plan under subd. 3.

AB100-ASA1,1706,3 5. The grant applicant funds at least 50% of the total cost of the conference by providing cash or in-kind contributions.

AB100-ASA1,1706,5 (b) The department may not award more than $75,000 in grants under this subsection in any fiscal year.

AB100-ASA1, s. 2975 Section 2975. 560.14 (5) (b) of the statutes is amended to read:

AB100-ASA1,1706,8 560.14 (5) (b) Promulgate Subject to par. (d), promulgate rules to develop criteria for evaluating applications for grants under this section.

AB100-ASA1, s. 4359m Section 4359m. 560.14 (5) (c) of the statutes is amended to read:

AB100-ASA1,1706,11 560.14 (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).

AB100-ASA1, s. 2976 Section 2976. 560.14 (5) (d) of the statutes is created to read:

AB100-ASA1,1706,14 560.14 (5) (d) Give priority for grants under this section for projects related to brownfields redevelopment.

AB100-ASA1, s. 2977 Section 2977. 560.16 (title) of the statutes is amended to read:

AB100-ASA1,1706,16 560.16 (title) Employe ownership assistance loans grants.

AB100-ASA1, s. 2978 Section 2978. 560.16 (1) (b) of the statutes is amended to read:

AB100-ASA1,1706,19 560.16 (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.

AB100-ASA1, s. 2979 Section 2979. 560.16 (2) (title) of the statutes is amended to read:

AB100-ASA1,1706,21 560.16 (2) (title) Employe ownership assistance loans grants .

AB100-ASA1, s. 2980 Section 2980. 560.16 (2) (a) of the statutes is amended to read:

AB100-ASA1,1707,2 560.16 (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.

AB100-ASA1, s. 2981 Section 2981. 560.16 (2) (b) of the statutes is amended to read:

AB100-ASA1,1707,6 560.16 (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).

AB100-ASA1, s. 2982 Section 2982. 560.16 (2) (c) (intro.) of the statutes is amended to read:

AB100-ASA1,1707,9 560.16 (2) (c) (intro.) The board may not approve a loan grant under this section unless the board has considered all of the following:

AB100-ASA1, s. 2983 Section 2983. 560.16 (2) (d) of the statutes is amended to read:

AB100-ASA1,1707,13 560.16 (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.

AB100-ASA1, s. 2984 Section 2984. 560.16 (3) (intro.) of the statutes is amended to read:

AB100-ASA1,1707,17 560.16 (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:

AB100-ASA1, s. 2985 Section 2985. 560.16 (3) (e) of the statutes is amended to read:

AB100-ASA1,1707,21 560.16 (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.

AB100-ASA1, s. 2986 Section 2986. 560.16 (3) (f) of the statutes is amended to read:

AB100-ASA1,1707,25 560.16 (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.

AB100-ASA1, s. 2987 Section 2987. 560.16 (4) (title) of the statutes is amended to read:

AB100-ASA1,1708,2 560.16 (4) (title) Loan Grant limits; contract approval.

AB100-ASA1, s. 2988 Section 2988. 560.16 (4) (a) of the statutes is amended to read:

AB100-ASA1,1708,6 560.16 (4) (a) A loan grant to a group under this section may not exceed $25,000 unless the joint committee on finance, under s. 13.101 (5m), approves a specified amount exceeding $25,000 $15,000.

AB100-ASA1, s. 2989 Section 2989. 560.16 (4) (b) of the statutes is amended to read:

AB100-ASA1,1708,12 560.16 (4) (b) As a condition of approval of a loan grant to a group under this section, the board shall require that the group provide matching funds for at least 25% of the cost of the project, except that the board may waive application of that requirement if the board determines that the group is subject to extreme financial hardship.

AB100-ASA1, s. 2990 Section 2990. 560.16 (4) (c) of the statutes is amended to read:

AB100-ASA1,1708,19 560.16 (4) (c) Any contract for any feasibility study or professional services financed by a loan grant under sub. (2) (a) shall be subject to the approval of the board department. The board department may not approve such a contract unless it determines that the contractor has the expertise required to provide the necessary study or services and that the contractor's costs are consistent with existing market rates.

AB100-ASA1, s. 2991 Section 2991. 560.16 (5) of the statutes is repealed.

AB100-ASA1, s. 2992 Section 2992. 560.16 (6) (a) (intro.) of the statutes is amended to read:

AB100-ASA1,1708,23 560.16 (6) (a) (intro.) Any feasibility study of an existing business financed by a loan grant under sub. (2) (a) shall may include:

AB100-ASA1, s. 2993 Section 2993. 560.16 (6) (b) of the statutes is amended to read:

AB100-ASA1,1709,7 560.16 (6) (b) The results of a feasibility study of an existing business financed by a loan grant under sub. (2) (a) shall be solely for the use of the group which received the loan grant, except that if the group's bid to purchase the business has been withdrawn, rejected or terminated, the group shall submit a copy of the study and the results of any professional services financed by the loan grant to the board and the board may provide a copy of such results to any person seeking to purchase the existing business.

AB100-ASA1, s. 2994 Section 2994. 560.165 of the statutes is created to read:

AB100-ASA1,1709,13 560.165 Division of international and export development; fees. The division of international and export development may charge fees for services it provides to cover the costs incurred by the division in providing the services. The division shall deposit all fees collected under this section in the appropriation account under s. 20.143 (1) (g).

AB100-ASA1, s. 2995 Section 2995. 560.17 (1) (am) of the statutes is created to read:

AB100-ASA1,1709,15 560.17 (1) (am) "Brownfields" has the meaning given in s. 560.60 (1v).

AB100-ASA1, s. 2996 Section 2996. 560.17 (1) (bm) of the statutes is created to read:

AB100-ASA1,1709,17 560.17 (1) (bm) "Job" has the meaning given in s. 560.60 (10).

AB100-ASA1, s. 2997 Section 2997. 560.17 (1) (d) 2. of the statutes is amended to read:

AB100-ASA1,1709,19 560.17 (1) (d) 2. A city, town or village with a population of 4,000 6,000 or less.

AB100-ASA1, s. 4383n Section 4383n. 560.17 (2) (b) of the statutes is amended to read:

AB100-ASA1,1709,24 560.17 (2) (b) The department shall make the grant or loan, except for a grant under sub. (5c), from the appropriation under s. 20.143 (1) (er) or (ir). The department shall make a grant under sub. (5c) from the appropriation under s. 20.143 (1) (g).

AB100-ASA1, s. 2998 Section 2998. 560.17 (3) (intro.) of the statutes is amended to read:

AB100-ASA1,1710,2 560.17 (3) (intro.) The Subject to sub. (4m), the board may award a grant or loan under this subsection to a business if all of the following apply:

AB100-ASA1, s. 2999 Section 2999. 560.17 (3) (a) of the statutes is amended to read:

AB100-ASA1,1710,4 560.17 (3) (a) The amount of the grant or loan does not exceed $30,000 $15,000.

AB100-ASA1, s. 3000 Section 3000. 560.17 (3) (b) of the statutes is amended to read:

AB100-ASA1,1710,7 560.17 (3) (b) The business, together with any affiliate, subsidiary or parent entity, has fewer than 25 50 employes.

AB100-ASA1, s. 3001 Section 3001. 560.17 (3) (e) of the statutes is amended to read:

AB100-ASA1,1710,10 560.17 (3) (e) The proceeds of the grant or loan will be used by the business as provided in sub. (5).

AB100-ASA1, s. 3002 Section 3002. 560.17 (4) (c) of the statutes is amended to read:

AB100-ASA1,1710,13 560.17 (4) (c) The number of new jobs created by the business in relation to the amount of the grant or loan.

AB100-ASA1, s. 3003 Section 3003. 560.17 (4) (cm) of the statutes is created to read:

AB100-ASA1,1710,17 560.17 (4) (cm) In relation to the amount of the grant, the number of existing jobs that will be retained by the business if the grant is awarded and that likely would not be retained if the grant is not awarded.

AB100-ASA1, s. 3004 Section 3004. 560.17 (4) (f) of the statutes is amended to read:

AB100-ASA1,1710,20 560.17 (4) (f) Whether the business would be able to start or expand its operations without a grant or loan.

AB100-ASA1, s. 3005 Section 3005. 560.17 (4m) of the statutes is created to read:

AB100-ASA1,1711,2 560.17 (4m) Of the total amount awarded in grants in a fiscal biennium under sub. (3), the board shall award not less than 25% and not more than 50% for purposes related to an agricultural business. The board shall give priority under this subsection for grants that will be used for purposes related to a dairy farm, as defined in s. 97.22 (1) (a).

AB100-ASA1, s. 3006 Section 3006. 560.17 (5) (intro.) of the statutes is amended to read:

AB100-ASA1,1711,5 560.17 (5) (intro.)  A business shall use the proceeds of a grant or loan under sub. (3) to pay for any of the following:

AB100-ASA1, s. 3007 Section 3007. 560.17 (5c) of the statutes is created to read:

AB100-ASA1,1711,10 560.17 (5c) (a) Subject to par. (b), the board may award a grant under this subsection to a person or business proposing to start up, modernize or expand in this state a dairy farm, as defined in s. 97.22 (1) (a), or other agricultural business if all of the following apply: