SB40-ASA1,1479,98
560.17
(1) (am) "Brownfields" has the meaning given in s.
560.60 (1v) 560.13
9(1) (a).
SB40-ASA1,1479,1311
560.17
(1) (bm) "Job"
has the meaning given in s. 560.60 (10) means a position
12providing full-time equivalent employment. "Job" does not include initial training
13before an employment position begins.
SB40-ASA1,1479,19
16560.204 Hardware and software used to maintain medical records. (1) 17The department shall implement a program to certify health care providers as
18eligible for the electronic medical records credit under ss. 71.07 (5i), 71.28 (5i), and
1971.47 (5i).
SB40-ASA1,1479,23
20(2) If the department certifies a health care provider under sub. (1), the
21department shall determine the amount of credits to allocate to the health care
22provider. The total amount of electronic medical records credits allocated to health
23care providers in any year may not exceed $10,000,000.
SB40-ASA1,1480,3
1(3) The department shall inform the department of revenue of every health
2care provider certified under sub. (1) and the amount of credits allocated to the health
3care provider.
SB40-ASA1,1480,5
4(4) The department, in consultation with the department of revenue, shall
5promulgate rules to administer this section.
SB40-ASA1,1480,217
560.205
(3) (d)
Rules. The department of commerce, in consultation with the
8department of revenue, shall promulgate rules to administer this section. The rules
9shall further define "bona fide angel investment" for purposes of s. 71.07 (5d) (a) 1.
10The rules shall limit the aggregate amount of tax credits under s. 71.07 (5d) that may
11be claimed for investments in businesses certified under sub. (1) at $3,000,000 per
12calendar year for calendar years beginning after December 31, 2004
. The, and
13$5,500,000 per calendar year for calendar years beginning after December 31, 2007.
14The rules shall also limit the aggregate amount of the tax credits under ss. 71.07 (5b),
1571.28 (5b), and 71.47 (5b) that may be claimed for investments paid to fund managers
16certified under sub. (2) at $3,500,000 per calendar year for calendar years beginning
17after December 31, 2004
, and $6,000,000 per calendar year for calendar years
18beginning after December 31, 2007. The rules shall also provide that, for calendar
19years beginning after December 31, 2007, no person may receive a credit under ss.
2071.07 (5b) and (5d), 71.28 (5b), or 71.47 (5b) unless the person's investment is kept
21in a certified business, or with a certified fund manager, for no less than 3 years.
SB40-ASA1,1481,3
1560.275
(4) (e)
Entrepreneurial and technology transfer grants. The total
2amount of grants under sub. (2) (e) may not exceed
$500,000 $600,000 in any fiscal
3year.
SB40-ASA1, s. 3581a
4Section 3581a. Subchapter II (title) of chapter 560 [precedes 560.30] of the
5statutes is renumbered 560.29 (title).
SB40-ASA1, s. 3581b
6Section 3581b. 560.30 (intro.) of the statutes is renumbered 560.29 (1) (intro.)
7and amended to read:
SB40-ASA1,1481,9
8560.29 Certified capital companies.
(1) Definitions. (intro.) In this
9subchapter section:
SB40-ASA1, s. 3581d
11Section 3581d. 560.30 (2) of the statutes is renumbered 560.29 (1) (a) and
12amended to read:
SB40-ASA1,1481,1513
560.29
(1) (a) "Certified capital company" means a person that has been
14certified by the department under s. 560.31
, 2005 stats., and that has not been
15decertified under s. 560.37 (3) or (3m)
, 2005 stats.
SB40-ASA1, s. 3581f
17Section 3581f. 560.30 (4) of the statutes is renumbered 560.29 (1) (b) and
18amended to read:
SB40-ASA1,1481,2219
560.29
(1) (b) "Certified capital investment" means an investment in a certified
20capital company that is certified under s. 560.32 (2)
, 2005 stats., and that fully funds
21either the investor's equity interest in a certified capital company, a qualified debt
22instrument that a certified capital company issues, or both.
SB40-ASA1, s. 3581j
1Section 3581j. 560.30 (8) of the statutes is renumbered 560.29 (1) (f) and
2amended to read:
SB40-ASA1,1482,43
560.29
(1) (f) "Qualified business" means a business which is a qualified
4business under s. 560.33
, 2005 stats.
SB40-ASA1, s. 3581m
7Section 3581m. 560.30 (11) of the statutes is renumbered 560.29 (1) (g) and
8amended to read:
SB40-ASA1,1482,119
560.29
(1) (g) "Qualified investment" means an investment in a qualified
10business by a certified capital company that meets the requirements under s. 560.34
11(1)
, 2005 stats.
SB40-ASA1, s. 3581r
16Section 3581r. 560.35 (title) of the statutes is renumbered 560.29 (2) (title).
SB40-ASA1, s. 3581s
17Section 3581s. 560.35 (1) (intro.) of the statutes is renumbered 560.29 (2) (a)
18(intro.).
SB40-ASA1, s. 3581t
19Section 3581t. 560.35 (1m) of the statutes is renumbered 560.29 (2) (b) and
20amended to read:
SB40-ASA1,1482,2521
560.29
(2) (b)
Violation of agreements by qualified businesses. As soon as
22practicable after the receipt of information by the certified capital company that a
23qualified business has violated an agreement made under s. 560.34 (1) (b) to (e),
2005
24stats., the certified capital company shall notify the department of the violation and
25the facts giving rise to the violation.
SB40-ASA1, s. 3581v
2Section 3581v. 560.35 (3) of the statutes is renumbered 560.29 (2) (d) and
3amended to read:
SB40-ASA1,1483,154
560.29
(2) (d)
Financial statements. Within 90 days of the end of the certified
5capital company's fiscal year, the certified capital company shall provide to the
6department a copy of its annual audited financial statements, including the opinion
7of an independent certified public accountant. The audit shall address the methods
8of operation and conduct of the business of the certified capital company to determine
9whether the certified capital company is complying with this
subchapter section and
10the rules promulgated under
this subchapter subchapter II of ch. 560, 2005 stats.,
11including whether certified capital has been invested in the manner required under
12s. 560.34
, 2005 stats. The financial statements provided under this subsection shall
13be segregated by investment pool and shall be separately audited on that basis to
14allow the department to determine whether the certified capital company is in
15compliance with s. 560.34 (1m)
, 2005 stats.
SB40-ASA1, s. 3581w
16Section 3581w. 560.35 (4) of the statutes is renumbered 560.29 (2) (e) and
17amended to read:
SB40-ASA1,1483,2118
560.29
(2) (e)
Fees. On or before January 31 annually, a certified capital
19company shall pay a nonrefundable certification fee of $5,000 to the department,
20unless January 31 falls within 6 months of the date on which the certified capital
21company was certified under s. 560.31
, 2005 stats.
SB40-ASA1,1484,55
560.60
(3m) "Eligible activities" means any of the following:
SB40-ASA1,1484,66
(a) Capital financing.
SB40-ASA1,1484,77
(b) Worker training.
SB40-ASA1,1484,88
(c) Entrepreneurial development.
SB40-ASA1,1484,109
(d) Providing assistance to technology-based businesses or to businesses at a
10foreign trade show or event.
SB40-ASA1,1484,1111
(e) Promoting urban or regional economic development.
SB40-ASA1,1484,1212
(f) Establishing revolving loan funds.
SB40-ASA1,1484,1313
(g) Providing working capital.
SB40-ASA1,1484,1414
(h) Promoting employee ownership through all of the following:
SB40-ASA1,1484,1615
1. Conducting feasibility studies to investigate the reorganization or new
16incorporation of existing businesses as employee-owned businesses.
SB40-ASA1,1484,1717
2. Implementing feasibility studies under subd. 1.
SB40-ASA1,1484,2119
560.60
(4) "Eligible recipient" means a governing body or a person who is
20eligible to receive a grant or loan under s.
560.62, a grant or loan under s. 560.63 or
21a grant or loan under s. 560.65 560.61.
SB40-ASA1,1485,42
560.60
(15) "Small business" means a business
operating for profit, with
250
3or fewer
than 100 employees, including employees of any subsidiary or affiliated
4organization.
SB40-ASA1, s. 2734
7Section
2734. 560.605 (1) (intro.) of the statutes is amended to read:
SB40-ASA1,1485,128
560.605
(1) (intro.)
The Upon receipt of an application by an eligible recipient,
9the board may
consider any of the following in determining whether to award a grant
10or loan under s. 560.61
upon the receipt and consideration of an application by an
11eligible recipient for a project under ss. 560.62 to 560.66, if the board determines all
12of the following:
SB40-ASA1,1485,1414
560.605
(1) (a)
The Whether the project serves a public purpose.
SB40-ASA1,1485,1716
560.605
(1) (b)
The Whether the project will retain or increase employment in
17this state.
SB40-ASA1,1485,2019
560.605
(1) (c)
The Whether the project
is not likely to might not occur without
20the grant or loan.
SB40-ASA1,1485,2322
560.605
(1) (d)
Financing Whether financing is
unavailable available from
any
23other another source on reasonably equivalent terms.
SB40-ASA1,1486,4
1560.605
(1) (e)
Except as provided in s. 560.68 (6), the eligible recipient
2receiving the grant or loan will contribute, from The extent to which the project will
3be financed with funds not provided by this state
, not less than 25% of the cost of the
4project.
