AB100: Bill Text

AB100,1033,1 (f) Establishing revolving loan funds.

AB100,1033,2 (g) Providing working capital.

AB100,1033,3 (h) Promoting employee ownership through all of the following:

AB100,1033,5 1. Conducting feasibility studies to investigate the reorganization or new incorporation of existing businesses as employee-owned businesses.

AB100,1033,6 2. Implementing feasibility studies under subd. 1.

AB100, s. 2371 Section 2371. 560.60 (4) of the statutes is amended to read:

AB100,1033,10 560.60 (4) "Eligible recipient" means a governing body or a person who is eligible to receive a grant or loan under s. 560.62, a grant or loan under s. 560.63 or a grant or loan under s. 560.65 560.61.

AB100, s. 2372 Section 2372. 560.60 (8) of the statutes is repealed.

AB100, s. 2373 Section 2373. 560.60 (10) of the statutes is repealed.

AB100, s. 2374 Section 2374. 560.60 (11) of the statutes is repealed.

AB100, s. 2375 Section 2375. 560.60 (13) of the statutes is repealed.

AB100, s. 2376 Section 2376. 560.60 (15) of the statutes is amended to read:

AB100,1033,18 560.60 (15) "Small business" means a business operating for profit, with 250 or fewer than 100 employees, including employees of any subsidiary or affiliated organization.

AB100, s. 2377 Section 2377. 560.60 (17) of the statutes is repealed.

AB100, s. 2378 Section 2378. 560.60 (18m) of the statutes is repealed.

AB100, s. 2379 Section 2379. 560.605 (1) (intro.) of the statutes is amended to read:

AB100,1034,2 560.605 (1) (intro.) The Upon receipt of an application by an eligible recipient, the board may consider any of the following in determining whether to award a grant or loan under s. 560.61 upon the receipt and consideration of an application by an eligible recipient for a project under ss. 560.62 to 560.66, if the board determines all of the following:

AB100, s. 2380 Section 2380. 560.605 (1) (a) of the statutes is amended to read:

AB100,1034,4 560.605 (1) (a) The Whether the project serves a public purpose.

AB100, s. 2381 Section 2381. 560.605 (1) (b) of the statutes is amended to read:

AB100,1034,7 560.605 (1) (b) The Whether the project will retain or increase employment in this state.

AB100, s. 2382 Section 2382. 560.605 (1) (c) of the statutes is amended to read:

AB100,1034,10 560.605 (1) (c) The Whether the project is not likely to might not occur without the grant or loan.

AB100, s. 2383 Section 2383. 560.605 (1) (d) of the statutes is amended to read:

AB100,1034,13 560.605 (1) (d) Financing Whether financing is unavailable available from any other another source on reasonably equivalent terms.

AB100, s. 2384 Section 2384. 560.605 (1) (e) of the statutes is amended to read:

AB100,1034,18 560.605 (1) (e) Except as provided in s. 560.68 (6), the eligible recipient receiving the grant or loan will contribute, from The extent to which the project will be financed with funds not provided by this state, not less than 25% of the cost of the project.

AB100, s. 2385 Section 2385. 560.605 (1) (f) of the statutes is repealed.

AB100, s. 2386 Section 2386. 560.605 (1) (g) of the statutes is amended to read:

AB100,1034,23 560.605 (1) (g) Funds Whether funds from the grant or loan under s. 560.62, 560.63, 560.65 or 560.66 will be used to pay overhead costs, except as provided in s. 560.65 (1m) (b), or to replace funds from any other another source.

AB100, s. 2387 Section 2387. 560.605 (1) (h) of the statutes is amended to read:

AB100,1035,2 560.605 (1) (h) The Whether the project will not displace any workers in this state.

AB100, s. 2388 Section 2388. 560.605 (1) (i) of the statutes is repealed.

AB100, s. 2389 Section 2389. 560.605 (2) (intro.) of the statutes is repealed.

AB100, s. 2390 Section 2390. 560.605 (2) (a) of the statutes is renumbered 560.605 (1) (j).

AB100, s. 2391 Section 2391. 560.605 (2) (b) of the statutes is renumbered 560.605 (1) (k).

AB100, s. 2392 Section 2392. 560.605 (2) (c) of the statutes is renumbered 560.605 (1) (L).

AB100, s. 2393 Section 2393. 560.605 (2) (d) of the statutes is renumbered 560.605 (1) (m) and amended to read:

AB100,1035,10 560.605 (1) (m) The financial soundness of the business eligible recipient.

AB100, s. 2394 Section 2394. 560.605 (2) (e) of the statutes is renumbered 560.605 (1) (n).

AB100, s. 2395 Section 2395. 560.605 (2) (f) of the statutes is renumbered 560.605 (1) (o).

AB100, s. 2396 Section 2396. 560.605 (2m) (intro.) of the statutes is amended to read:

AB100,1035,16 560.605 (2m) (intro.) When considering whether a project under s. 560.62, 560.63 or 560.66 will be located in a targeted area, the board shall may consider all any of the following:

AB100, s. 2397 Section 2397. 560.605 (2m) (c) of the statutes is repealed.

AB100, s. 2398 Section 2398. 560.605 (2m) (d) of the statutes is repealed.

AB100, s. 2399 Section 2399. 560.605 (2m) (e) of the statutes is repealed.

AB100, s. 2400 Section 2400. 560.605 (4) of the statutes is repealed.

AB100, s. 2401 Section 2401. 560.605 (5) of the statutes is repealed.

AB100, s. 2402 Section 2402. 560.605 (5m) of the statutes is repealed.

AB100, s. 2403 Section 2403. 560.605 (6) of the statutes is repealed.

AB100, s. 2404 Section 2404. 560.607 (1) of the statutes is amended to read:

AB100,1036,2 560.607 (1) Evaluations of proposed technical research projects under s. 560.62.

AB100, s. 2405 Section 2405. 560.61 (intro.) of the statutes is repealed.

AB100, s. 2406 Section 2406. 560.61 (1) of the statutes is renumbered 560.61 and amended to read:

AB100,1036,10 560.61 Make At the request of the board, the department may make a grant or loan to an eligible recipient for a project that meets the criteria for funding under s. 560.605 (1) and (2) and under s. 560.62, 560.63, 560.65 or 560.66, whichever is appropriate, from the appropriations under s. 20.143 (1) (c), (cb) and (ie) for eligible activities.

AB100, s. 2407 Section 2407. 560.61 (3) of the statutes is repealed.

AB100, s. 2408 Section 2408. 560.62 of the statutes is repealed.

AB100, s. 2409 Section 2409. 560.63 of the statutes is repealed.

AB100, s. 2410 Section 2410. 560.65 of the statutes is repealed.

AB100, s. 2411 Section 2411. 560.66 of the statutes is repealed.

AB100, s. 2412 Section 2412. 560.68 (1m) of the statutes is created to read:

AB100,1036,19 560.68 (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.

AB100, s. 2413 Section 2413. 560.68 (2m) of the statutes is created to read:

AB100,1036,22 560.68 (2m) The department shall determine conditions applicable to a grant or loan under s. 560.61.

AB100, s. 2414 Section 2414. 560.68 (3) of the statutes is amended to read:

AB100,1037,3 560.68 (3) The department may charge a grant or loan recipient an origination fee of up to not more than 2% of the grant or loan amount if the grant or loan equals or exceeds $200,000 and is awarded under s. 560.63 or 560.66. The department shall deposit all origination fees collected under this subsection in the appropriation account under s. 20.143 (1) (gm).

AB100, s. 2415 Section 2415. 560.68 (5) of the statutes is renumbered 560.68 (5) (intro.) and amended to read:

AB100,1037,8 560.68 (5) (intro.) The department, with the approval of the board, shall develop procedures to evaluate related to grants and loans under s. 560.61 for all of the following:

AB100,1037,9 (b) Evaluating applications, monitor .

AB100,1037,10 (c) Monitoring project performance and audit.

AB100,1037,11 (d) Auditing the grants and loans awarded under this subchapter.

AB100, s. 2416 Section 2416. 560.68 (5) (a) of the statutes is created to read:

AB100,1037,13 560.68 (5) (a) Submitting applications for grants and loans.

AB100, s. 2417 Section 2417. 560.68 (6) of the statutes is amended to read:

AB100,1037,18 560.68 (6) If appropriate, the The board may shall require that more, 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 cost of any project or category of projects be paid from funds not provided by this state amount of the grant or loan.

AB100, s. 2418 Section 2418. 560.68 (7) (a) of the statutes is amended to read:

AB100,1037,22 560.68 (7) (a) Publish and disseminate information about the projects under ss. 560.62 to 560.66 that may be funded by a grant or loan under s. 560.61 and the about procedures for applying for grants and loans under s. 560.61.

AB100, s. 2419 Section 2419. 560.797 (2) (d) of the statutes is amended to read:

AB100,1038,2 560.797 (2) (d) The department may not designate more than 79 enterprise development zones unless the department obtains the approval of the joint committee on finance to do so. Of the enterprise development zones that the department designates, at least 10 shall be designated under par. (bg).

AB100, s. 2420 Section 2420. 560.797 (5) (b) of the statutes is amended to read:

AB100,1038,8 560.797 (5) (b) When the department designates an area as an enterprise development zone under this section, the department shall establish a limit, not to exceed $3,000,000, for tax benefits for the enterprise development zone. The total amount of tax benefits authorized under this paragraph for all enterprise development zones may not exceed $243,000,000.

AB100, s. 2421 Section 2421. 560.799 of the statutes is created to read:

AB100,1038,14 560.799 Super employment and economic development zone grant program. (1) Beginning on July 1, 2006, from the appropriation under s. 20.143 (1) (cm), the department may award a grant to an eligible business that locates in an extremely depressed area designated under sub. (3) (a), for reimbursing the business's eligible costs, if all of the following apply:

AB100,1038,16 (a) The department determines that the business will create not fewer than 100 qualifying jobs in the extremely depressed area.

AB100,1038,19 (b) The business enters into a written agreement with the department that specifies the conditions for use of the grant proceeds and in which the business agrees to do all of the following:

AB100,1038,21 1. Compensate at a family-supporting wage not less than 90 percent of the employees in the qualifying jobs created under par. (a).

AB100,1038,23 2. Make every reasonable effort to hire individuals who reside in the extremely depressed area to fill at least 75 percent of the qualifying jobs created under par. (a).

AB100,1038,25 3. Submit the report required under sub. (2) by the time the report is required under sub. (2).