SB95: Bill Text

SB95,3,22 (c) "Business" means a private business that is operated for profit.

SB95,3,23 (d) "Eligible costs" means any of the following:

SB95,3,24 1. Working capital, except overhead costs.

SB95,3,25 2. Fixed asset financing.

SB95,4,1 3. Labor training costs.

SB95,4,2 (e) "Poverty line" has the meaning given in s. 49.001 (5).

SB95,4,5 (f) "Regional development administrator" means an entity that is involved in administering regional economic development funds and that represents a geographic area that includes a border county or border municipality.

SB95,4,9 (2) Grants to businesses. (a) From the appropriation under s. 20.143 (1) (cs), the department may award a grant to a business in a border county for reimbursing eligible costs of a project, if the business will create not less than 100 full-time jobs and any of the following apply:

SB95,4,11 1. The jobs have an average wage of not less than 200 percent of the poverty line.

SB95,4,12 2. The jobs result in a significant capital investment in a border municipality.

SB95,4,15 (b) A business is eligible for a grant under this subsection if the business will begin or expand operations in a border county or relocate to a border county from another state.

SB95,4,17 (c) In determining whether to award a grant under this subsection, the department shall consider all of the following:

SB95,4,19 1. Whether the project is not likely to occur in this state without a grant under this subsection.

SB95,4,20 2. Whether the project serves a public purpose.

SB95,4,23 3. Whether the project will lead to a significant capital investment or will contribute to the economic growth and well-being of the community where the project is located.

SB95,4,24 4. Whether the project will create new jobs.

SB95,4,25 5. Whether the project will displace workers in this state.

SB95,5,1 6. Whether the business is financially sound.

SB95,5,2 7. Whether the business intends to provide benefits to its employees.

SB95,5,3 8. The anticipated wages the business will offer to its employees.

SB95,5,10 (3) Grants to border counties, border municipalities, and regional development administrators. (a) From the appropriation under s. 20.143 (1) (cs), the department may award a grant to a border county, border municipality, or regional development administrator for reimbursing a business for eligible costs of a project that will create not less than 25 jobs, if the project is located in a distressed border county or in a distressed border municipality. For purposes of this paragraph, a border county or border municipality is distressed if any of the following apply:

SB95,5,11 1. The county or municipality has high levels of unemployment.

SB95,5,13 2. The median income for a family of 4 in the county or municipality is below the statewide average.

SB95,5,14 3. Any 2 of the following are true:

SB95,5,16 a. The percentage of residents of the county or municipality who are living in poverty is higher than the statewide average.

SB95,5,19 b. Property values in the county or municipality have declined significantly in the 3-year period immediately preceding the application for a grant under this section.

SB95,5,23 c. A significant number of workers in the county or municipality have been permanently laid off by their employers or public notice has been given of a plant closing or a substantial reduction in force that will result in a significant number of workers in the county or municipality being permanently laid off.

SB95,6,3 (b) A recipient of a grant under this subsection may distribute the proceeds of the grant only after a competitive award process and only to a business for a project to which all of the following apply:

SB95,6,4 1. The project will occur in a distressed border county or border municipality.

SB95,6,6 2. Without funding from the recipient of a grant under this subsection, the project is likely to occur in another state that borders this state.

SB95,6,8 (c) In distributing the proceeds of a grant under this subsection, a recipient of a grant shall consider the factors specified in sub. (2) (c) 2. to 8.

SB95,6,11 (4) Limitations. (a) A business may not receive a grant under sub. (2) or an award under sub. (3) (b) unless the business enters into an agreement with the department under which the business agrees to do all of the following:

SB95,6,13 1. Contribute matching funds of not less than 25 percent of the total cost of the project and identify the source of the matching funds.

SB95,6,15 2. Spend the proceeds of a grant under sub. (2) or an award under sub. (3) (b) in this state.

SB95,6,19 (b) The amount of grants and grant proceeds awarded to a business, border county, border municipality, or regional development administrator in the first 18 months of a biennium may not exceed 50 percent of the amounts in the schedule for that biennium for the appropriation under s. 20.143 (1) (cs).

SB95,6,21 (5) Administration. (a) The department shall promulgate rules establishing all of the following:

SB95,6,22 1. Standards and procedures for grant applications.

SB95,6,24 2. Standards and procedures for reporting, auditing, and monitoring of expenditures of grants under this section and awards under sub. (3) (b).

SB95,7,2 (b) The department may promulgate rules establishing additional eligibility criteria.

SB95,7,7 (c) The department shall annually submit to the chief clerk of each house of the legislature for distribution to the appropriate standing committees under s. 13.172 (2), and to the governor, a report that identifies the recipients of grants and grant proceeds under this section, and specifies the jobs created as a result and the average wage of such jobs.

SB95,7,9 (d) The department may collect from a grant recipient an origination fee of up to 2 percent of the amount of a grant if the grant exceeds $200,000.

SB95, s. 7 Section 7. Effective date.

SB95,7,12 (1) This act takes effect on the day after publication of the 2007-09 biennial budget act.

SB95,7,13 (End)