OC7 SB1: Bill Text

SB1, s. 3581w Section 3581w. 560.35 (4) of the statutes is renumbered 560.29 (2) (e) and amended to read:

SB1,1401,20 560.29 (2) (e) Fees. On or before January 31 annually, a certified capital company shall pay a nonrefundable certification fee of $5,000 to the department, unless January 31 falls within 6 months of the date on which the certified capital company was certified under s. 560.31, 2005 stats.

SB1, s. 3581x Section 3581x. 560.35 (5) of the statutes is renumbered 560.29 (2) (f).

SB1, s. 3581y Section 3581y. 560.36 of the statutes is repealed.

SB1, s. 3581z Section 3581z. 560.37 of the statutes is repealed.

SB1, s. 3581za Section 3581za. 560.38 of the statutes is repealed.

SB1, s. 3582 Section 3582. 560.60 (1m) of the statutes is repealed.

SB1, s. 3583 Section 3583. 560.60 (1v) of the statutes is repealed.

SB1, s. 3584 Section 3584. 560.60 (3) of the statutes is repealed.

SB1, s. 3585 Section 3585. 560.60 (3m) of the statutes is created to read:

SB1,1402,4 560.60 (3m) "Eligible activities" means any of the following:

SB1,1402,5 (a) Capital financing.

SB1,1402,6 (b) Worker training.

SB1,1402,7 (c) Entrepreneurial development.

SB1,1402,9 (d) Providing assistance to technology-based businesses or to businesses at a foreign trade show or event.

SB1,1402,10 (e) Promoting urban or regional economic development.

SB1,1402,11 (f) Establishing revolving loan funds.

SB1,1402,12 (g) Providing working capital.

SB1,1402,13 (h) Promoting employee ownership through all of the following:

SB1,1402,15 1. Conducting feasibility studies to investigate the reorganization or new incorporation of existing businesses as employee-owned businesses.

SB1,1402,16 2. Implementing feasibility studies under subd. 1.

SB1, s. 3586 Section 3586. 560.60 (4) of the statutes is amended to read:

SB1,1402,20 560.60 (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.

SB1, s. 3587 Section 3587. 560.60 (8) of the statutes is repealed.

SB1, s. 3588 Section 3588. 560.60 (10) of the statutes is repealed.

SB1, s. 3589 Section 3589. 560.60 (11) of the statutes is repealed.

SB1, s. 3590 Section 3590. 560.60 (13) of the statutes is repealed.

SB1, s. 3591 Section 3591. 560.60 (15) of the statutes is amended to read:

SB1,1403,3 560.60 (15) "Small business" means a business operating for profit, with 250 or fewer than 100 employees, including employees of any subsidiary or affiliated organization.

SB1, s. 3592 Section 3592. 560.60 (17) of the statutes is repealed.

SB1, s. 3593 Section 3593. 560.60 (18m) of the statutes is repealed.

SB1, s. 3594 Section 3594. 560.605 (1) (intro.) of the statutes is amended to read:

SB1,1403,11 560.605 (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:

SB1, s. 3595 Section 3595. 560.605 (1) (a) of the statutes is amended to read:

SB1,1403,13 560.605 (1) (a) The Whether the project serves a public purpose.

SB1, s. 3596 Section 3596. 560.605 (1) (b) of the statutes is amended to read:

SB1,1403,16 560.605 (1) (b) The Whether the project will retain or increase employment in this state.

SB1, s. 3597 Section 3597. 560.605 (1) (c) of the statutes is amended to read:

SB1,1403,19 560.605 (1) (c) The Whether the project is not likely to might not occur without the grant or loan.

SB1, s. 3598 Section 3598. 560.605 (1) (d) of the statutes is amended to read:

SB1,1403,22 560.605 (1) (d) Financing Whether financing is unavailable available from any other another source on reasonably equivalent terms.

SB1, s. 3599 Section 3599. 560.605 (1) (e) of the statutes is amended to read:

SB1,1404,2 560.605 (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.

SB1, s. 3600 Section 3600. 560.605 (1) (f) of the statutes is repealed.

SB1, s. 3601 Section 3601. 560.605 (1) (g) of the statutes is amended to read:

SB1,1404,7 560.605 (1) (g) Funds Whether funds from the grant or loan under s. 560.62, 560.63, 560.65 or 560.66 will not be used to pay overhead costs, except as provided in s. 560.65 (1m) (b), or to replace funds from any other another source.

SB1, s. 3602 Section 3602. 560.605 (1) (h) of the statutes is amended to read:

SB1,1404,10 560.605 (1) (h) The Whether the project will not displace any workers in this state.

SB1, s. 3603 Section 3603. 560.605 (1) (i) of the statutes is repealed.

SB1, s. 3604 Section 3604. 560.605 (1) (p) of the statutes is amended to read:

SB1,1404,15 560.605 (1) (p) For an ethanol production facility on which construction begins after July 27, 2005, whether a competitive bidding process is used for the construction of the ethanol production facility.

SB1, s. 3605 Section 3605. 560.605 (2) (intro.) of the statutes is repealed.

SB1, s. 3606 Section 3606. 560.605 (2) (a) of the statutes is renumbered 560.605 (1) (j).

SB1, s. 3607 Section 3607. 560.605 (2) (b) of the statutes is renumbered 560.605 (1) (k).

SB1, s. 3608 Section 3608. 560.605 (2) (c) of the statutes is renumbered 560.605 (1) (L).

SB1, s. 3609 Section 3609. 560.605 (2) (d) of the statutes is renumbered 560.605 (1) (m) and amended to read:

SB1,1404,22 560.605 (1) (m) The financial soundness of the business eligible recipient.

SB1, s. 3610 Section 3610. 560.605 (2) (e) of the statutes is renumbered 560.605 (1) (n).

SB1, s. 3611 Section 3611. 560.605 (2) (f) of the statutes is renumbered 560.605 (1) (o).

SB1, s. 3612 Section 3612. 560.605 (2m) (intro.) of the statutes is amended to read:

SB1,1405,3 560.605 (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:

SB1, s. 3613 Section 3613. 560.605 (2m) (c) of the statutes is repealed.

SB1, s. 3614 Section 3614. 560.605 (2m) (d) of the statutes is repealed.

SB1, s. 3615 Section 3615. 560.605 (2m) (e) of the statutes is repealed.

SB1, s. 3616 Section 3616. 560.605 (4) of the statutes is repealed.

SB1, s. 3617 Section 3617. 560.605 (5) of the statutes is repealed.

SB1, s. 3618 Section 3618. 560.605 (5m) of the statutes is repealed.

SB1, s. 3619 Section 3619. 560.605 (6) of the statutes is repealed.

SB1, s. 3621 Section 3621. 560.607 (1) of the statutes is amended to read:

SB1,1405,13 560.607 (1) Evaluations of proposed technical research projects under s. 560.62.

SB1, s. 3622 Section 3622. 560.61 (intro.) and (1) of the statutes are consolidated, renumbered 560.61 and amended to read:

SB1,1405,20 560.61 Wisconsin development fund. At the request of the board, the department shall do all of the following: (1) Make 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) and (ie).

SB1, s. 3623 Section 3623. 560.61 (3) of the statutes is repealed.

SB1, s. 3624 Section 3624. 560.62 of the statutes is repealed.

SB1, s. 3625 Section 3625. 560.63 of the statutes is repealed.

SB1, s. 3626 Section 3626. 560.65 of the statutes is repealed.

SB1, s. 3627 Section 3627. 560.66 of the statutes is repealed.

SB1, s. 3628 Section 3628. 560.68 (1m) of the statutes is created to read:

SB1,1406,4 560.68 (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.

SB1, s. 3629 Section 3629. 560.68 (2m) of the statutes is created to read:

SB1,1406,7 560.68 (2m) The department shall determine conditions applicable to a grant or loan under s. 560.61.

SB1, s. 3630 Section 3630. 560.68 (3) of the statutes is amended to read:

SB1,1406,13 560.68 (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).

SB1, s. 3631 Section 3631. 560.68 (5) of the statutes is renumbered 560.68 (5) (intro.) and amended to read:

SB1,1406,18 560.68 (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:

SB1,1406,19 (b) Evaluating applications, monitor .

SB1,1406,20 (c) Monitoring project performance and audit.

SB1,1406,21 (d) Auditing the grants and loans awarded under this subchapter.

SB1, s. 3632 Section 3632. 560.68 (5) (a) of the statutes is created to read: