AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
commerce and economic development
Economic development
Under current law, the Department of Commerce (department) provides funding for the promotion of science-based and technology-based businesses through a nonstock, nonprofit high-technology business development corporation. In addition, from the Wisconsin development fund, the department may award grants or loans to businesses and associations of businesses and higher educational institutions for technology research and for purposes related to the development of new, or the improvement of existing, industrial products or processes. Also under current law, an appropriation to the department provides funding to Forward Wisconsin, Inc., which is a private corporation, for its economic development promotion activities. Also under current law, the department may designate up to eight technology development zones within which certain new or expanding high-technology businesses may be certified by the department to receive tax credits.
This bill requires the department to organize and assist in maintaining the Wisconsin Venture Center (WVC), a nonprofit corporation with the purpose of raising capital to promote and support emerging industries in the state.
The department must make a one-time grant of $700,000 to WVC for start-up capital and administrative expenses for which WVC need not provide matching funds. Thereafter, the department must make annual grants of up to $500,000 to WVC for which WVC need not provide matching funds. The department may make additional grants to WVC if WVC: submits an expenditure plan that is approved by the secretary of commerce; provides 50 percent of the funding for the project from other sources; provides information requested by the department related to funds received for the project from private sources; and enters into a written agreement with the department related to the use of the grant proceeds. Whenever WVC receives a grant from the department, it must submit a report to the department with detailed information on how it spent the grant proceeds.
WVC is to be governed by a board of directors that includes: the secretary of commerce or his or her designee; the secretary of financial institutions or his or her designee; and no more than 12 other members who are appointed by the governor and who represent entrepreneurs in the state, high-technology businesses in the state, research institutions in the state, the state's venture capital industry, the state's investment banking industry, the state's business development community, and professionals who are experienced in providing services to persons in the aforementioned categories. Annually, WVC must submit a report on its activities to the governor.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 20.143 (1) (fi) of the statutes is created to read:
20.143 (1) (fi) Wisconsin Venture Center. The amounts in the schedule for the grants specified in s. 560.20 (1) (b) and (3).
****NOTE: This SECTION involves a change in an appropriation that must be reflected in the revised schedule in s. 20.005, stats.
SECTION 2. 560.20 of the statutes is created to read:
560.20 Wisconsin Venture Center. (1) (a) The department shall organize and assist in maintaining an emerging industries development corporation as a nonstock, nonprofit corporation under ch. 181 for the purpose of facilitating the raising of capital to promote and support emerging industries in the state. In furtherance of its purpose, the corporation shall do all of the following:
1. Establish and implement programs to prepare entrepreneurs of emerging industries for angel and venture capital investments.
2. Strategically match entrepreneurs of emerging industries with sources of capital or management expertise or both.
3. Work with technology transfer offices of universities and colleges to facilitate a match between entrepreneurs of emerging industries and sources of capital or management expertise or both.
4. Provide research and analysis services regarding emerging industries in this state to prospective angel investors and venture capitalists.
5. Provide a venue for bringing together prospective angel investors and venture capitalists with entrepreneurs of emerging industries.
(b) From the appropriation under s. 20.143 (1) (fi), the department shall make the following grants:
1. In fiscal year 2007-08, a one-time grant of $700,000 to the emerging industries development corporation. No matching funds are required for the grant under this subdivision, provided the grant is used by the corporation for start-up capital and reasonable administrative expenses.
2. In fiscal year 2008-09 and each fiscal year thereafter, a grant of $500,000 to the emerging industries development corporation. No matching funds are required for the grants under this subdivision, provided the grants are used by the corporation for operating expenses.
(2) (a) The emerging industries development corporation shall be governed by a board of directors, consisting of the secretary or his or her designee, the secretary of the department of financial institutions or his or her designee, and no more than 12 other members, one or more of whom represents each of the following categories:
1. Entrepreneurs in the state.
2. High-technology businesses in the state.
3. Research institutions in the state.
4. The state's venture capital industry.
5. The state's investment banking industry.
6. The state's business development community.
7. Professionals in the state who are experienced in providing services to persons specified in subds. 1. to 6.
(b) The members who are representatives of the categories under par. (a) 1. to 7. shall serve 5-year terms. The initial members who are representatives of the categories under par. (a) 1. to 7. shall be appointed by the governor. The emerging industries development corporation, in its bylaws, shall specify the method for electing new members who are representatives of the categories under par. (a) 1. to 7. and for filling vacancies.
(3) (a) The department may make a grant to the emerging industries development corporation, from the appropriation under s. 20.143 (1) (fi), if all of the following apply:
1. The corporation submits an expenditure plan to the department detailing the proposed use of the grant proceeds and the secretary approves the plan.
2. The corporation enters into a written agreement with the department that specifies the conditions for the use of the grant proceeds, including reporting and auditing requirements.
3. The corporation provides matching funds equal to 50 percent of the grant proceeds.
4. The corporation provides to the department information requested by the department about private funding the corporation has received or will receive for the purposes detailed in the expenditure plan under subd. 1.
5. The corporation agrees in writing to submit to the department the report required under par. (b) by the time the report is required under par. (b).
(b) If the corporation receives a grant under this subsection, the corporation shall submit to the department, within 6 months after spending the full amount of the grant, a report detailing how the grant proceeds were used.
(4) Annually, the emerging industries development corporation shall provide a report on its activities to the governor.
(5) The assets transferred to, and the assets and liabilities of, the emerging industries development corporation shall be separate from all other assets and liabilities of the state, of all political subdivisions of the state, and of the department. Neither the state, any political subdivision of the state, nor the department guarantees any obligation of or has any obligation to the emerging industries development corporation. Neither the state, any political subdivision of the state, nor the department is liable for any debt or liability of the emerging industries development corporation.
(End)
LRB-1485LRB-1485/2
TKK:cjs:rs
2007 - 2008 LEGISLATURE
DOA:......Fath, BB0345 - Exempt Teacher Mentoring Activities from Revenue Limits
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
education
Primary and secondary education
Current law generally limits the increase in the total amount of revenue per pupil that a school district may receive from general school aids and property taxes in a school year to the amount of revenue increase allowed per pupil in the previous school year increased by the percentage change in the consumer price index. Several exceptions are provided. For example, if a school district increases the services that it provides by adding responsibility for providing a service transferred to it from another governmental unit, its revenue limit is increased by the cost of that service.
This bill provides that, beginning in the 2008-09 school year, a school district may exceed its revenue limit in any school year by the amount spent in that school year to provide teacher mentoring activities, required by DPI by rule, for initial educators. An initial educator is defined by rule as an individual who has successfully completed an approved professional education program and who is licensed by the department for the first time in a particular level or category. A school district may exceed its revenue limit by up to $2,160 per initial educator, less any grant money received by the school district for that initial educator.
For further information see the state and local fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 121.91 (4) (m) of the statutes is created to read:
121.91 (4) (m) If a school district incurs expenses in a school year related to teacher mentoring activities required by the department by rule for persons licensed as initial educators under PI 34.17, Wis. Adm. Code, the limit otherwise applicable to the school district under sub. (2m) in that school year is increased by the amount of the mentoring activities expenses incurred per initial educator, but no more than $2,160 per initial educator, less any amount received by the school district for that initial educator for that school year under s. 115.405 (2m).
SECTION 9337. Initial applicability; Public Instruction.
(1) TEACHER IMPROVEMENT ACTIVITIES; REVENUE LIMIT ADJUSTMENT. The treatment of section 121.91 (4) (m) of the statutes first applies to the calculation of a school district's revenue limit for the 2008-09 school year.
(End)
LRB-1486LRB-1486/1
TKK:cjs:nwn
2007 - 2008 LEGISLATURE
DOA:......Fath, BB0342 - Differential State Share of Funding for Milwaukee Parental Choice Program
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
education
Primary and secondary education
Under the Milwaukee Parental Choice Program (MPCP), the state pays for certain pupils to attend private schools located in the city of Milwaukee. Under current law, for each pupil attending a private school under the MPCP, the state pays the lesser of the private school's educational cost per pupil or the amount paid per pupil in the previous school year under the MPCP increased by the percentage change in general school aid over the previous school year. State aid to the Milwaukee Public Schools (MPS) is then reduced by an amount equal to 45 percent of the amount paid by the state for the MPCP.
This bill maintains the 45 percent reduction in state aid paid for up to 15,000 pupils attending MPCP schools, but eliminates the reduction for all pupils above 15,000.
For further information see the state and local fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 121.08 (4) (b) of the statutes is renumbered 121.08 (4) (b) (intro.) and amended to read:
121.08 (4) (b) (intro.) The amount of state aid that the school district operating under ch. 119 is eligible to be paid from the appropriation under s. 20.255 (2) (ac) shall also be reduced by 45% of the amounts paid under s. 119.23 (4) and (4m) in the current school year. amount determined as follows:
SECTION 2. 121.08 (4) (b) 1. of the statutes is created to read:
121.08 (4) (b) 1. Add the amounts paid under s. 119.23 (4) and (4m) in the current school year.
SECTION 3. 121.08 (4) (b) 2. of the statutes is created to read:
121.08 (4) (b) 2. If the number of pupils attending private schools under s. 119.23 in the current school year is no more than 15,000, multiply the sum under subd. 1. by 45 percent.
SECTION 4. 121.08 (4) (b) 3. of the statutes is created to read:
121.08 (4) (b) 3. If the number of pupils attending private schools under s. 119.23 in the current school year is greater than 15,000, divide 15,000 by the number of pupils attending private schools under s. 119.23 in the current school year, multiply the quotient by the sum under subd. 1., and multiply the result by 45 percent.
SECTION 9337. Initial applicability; Public Instruction.
(1) FUNDING OF MILWAUKEE PARENTAL CHOICE PROGRAM. The renumbering and amendment of section 121.08 (4) (b) of the statutes and the creation of section 121.08 (4) (b) 1., 2., and 3. of the statutes first apply to state aid paid in the 2007-08 school year.
(End)
LRB-1501LRB-1501/2
PG:kjf:pg
2007 - 2008 LEGISLATURE
DOA:......Fath, BB0349 - Fund pupil transportation from the transportation fund
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
education
Primary and secondary education
