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560.275(2)(c) (c) Bridge grants and loans. The department may make a grant or loan from the appropriation under s. 20.143 (1) (c) or (ie) to a person who has received early stage financing from 3rd parties or a grant from the federal government to fund early stage research and development and who has sought additional early stage financing from 3rd parties or applied for an additional grant from the federal government to fund early stage research and development. A grant or loan under this paragraph shall be for the purpose of funding professional activities necessary to maintain the project research and management team and funding basic operations until the applicant's additional 3rd-party financing request or federal grant application is approved or denied.
560.275(2)(d) (d) Venture capital grants and loans. The department may make a grant or loan from the appropriation under s. 20.143 (1) (c) or (ie) for the purpose of enhancing the applicant's ability to obtain early stage financing from 3rd parties.
560.275(2)(e) (e) Entrepreneurial and technology transfer center grants. The department may make a grant from the appropriation under s. 20.143 (1) (c) or (ie) for the purpose of supporting any entrepreneurial and technology transfer center that satisfies all of the following criteria:
560.275(2)(e)1. 1. The center serves multiple regions of this state.
560.275(2)(e)2. 2. The center provides assistance, other than financial assistance, to entrepreneurs to facilitate business development.
560.275(2)(e)3. 3. The center reviews and analyzes entrepreneurial business plans and offers advice concerning the improvement of the plans.
560.275(2)(e)4. 4. The center provides advice to entrepreneurs concerning patent, trademark, and copyright issues.
560.275(2)(e)5. 5. The center provides appropriate referral services to entrepreneurs.
560.275(3) (3)Grant and loan amounts.
560.275(3)(a)(a) Early stage planning grants and loans. In determining the amount of a grant or loan under sub. (2) (a), the department shall consider all of the following, in addition to any other information the department considers relevant:
560.275(3)(a)1. 1. The amount of economic impact the applicant, if successful, will have in this state.
560.275(3)(a)2. 2. The quality of any businesses assisting the applicant.
560.275(3)(a)3. 3. The level of need demonstrated by the applicant.
560.275(3)(a)4. 4. The applicant's record of obtaining early stage financing in the past.
560.275(3)(b) (b) Matching grants and loans. In determining the amount of a grant or loan under sub. (2) (b), the department shall consider all of the following criteria, in addition to any other information the department considers relevant:
560.275(3)(b)1. 1. The viability of the applicant's business.
560.275(3)(b)2. 2. The likelihood that the applicant will successfully commercialize technology.
560.275(3)(b)3. 3. The applicant's management plan and management team.
560.275(3)(b)4. 4. The amount of economic impact the applicant, if successful, will have in this state.
560.275(3)(b)5. 5. The applicant's record of obtaining early stage financing in the past.
560.275(4) (4)Limitations on grant and loan amounts.
560.275(4)(a)(a) Early stage planning grants and loans. A grant or loan under sub. (2) (a) may not exceed $15,000.
560.275(4)(b) (b) Matching grants and loans. A grant or loan under sub. (2) (b) may not exceed 20 percent of the project costs or $250,000, whichever is less.
560.275(4)(c) (c) Bridge grants and loans. A grant or loan under sub. (2) (c) may not exceed 75 percent of the project costs or $100,000, whichever is less.
560.275(4)(d) (d) Venture capital grants and loans. A grant or loan under sub. (2) (d) may not exceed 50 percent of the project costs or $250,000, whichever is less.
560.275(4)(e) (e) Entrepreneurial and technology transfer grants. The total amount of grants under sub. (2) (e) may not exceed $600,000 in any fiscal year.
560.275(5) (5)Eligibility. The department may make a grant or loan under sub. (2) (a) to (d) to an applicant only if all of the following apply:
560.275(5)(a) (a) The applicant:
560.275(5)(a)1. 1. Is a small business, or individual entrepreneur who intends to form a small business, that is completing a grant application to be submitted to the federal government for the purpose of obtaining early stage research and development funding, except that if the application is for a grant under sub. (2) (b), the requirement that the applicant be completing a federal grant application does not apply; or
560.275(5)(a)2. 2. Is an individual who is starting or developing a business which has significant growth potential, as evidenced by the potential to attract and receive early stage financing from 3rd parties, but who needs assistance with a specific facet of starting or developing the business.
560.275(5)(b) (b) If the applicant seeks a grant or loan under sub. (2) (a), the applicant has sufficient funding from sources other than the state to finance at least 25% of the project costs.
560.275(5)(c) (c) The applicant has or will have a business location in this state.
560.275(5)(d) (d) If the application relates to a product, the product will be manufactured substantially in this state.
560.275(5)(e) (e) If the application relates to a service, the principal place of business from which the service will be sold will be located in this state.
560.275(5)(f) (f) All grant moneys will be spent in this state.
560.275(6) (6)Grant and loan distribution plan. No later than December 1 of each even-numbered year, the department shall develop a biennial plan for awarding grants and loans under sub. (2) and shall submit the plan to the governor and to the chief clerk of each house of the legislature, for distribution to the appropriate standing committees under s. 13.172 (3).
560.275(7) (7)Administration.
560.275(7)(a)(a) In-kind grants of services. The department may contract with, and pay the proceeds of any grant under sub. (2) (a) to (d) directly to, any person who provides services which the grant is intended to fund.
560.275(7)(b) (b) Rules. The department shall promulgate rules to administer this section. The rules shall establish application, reporting, auditing, and monitoring requirements.
560.275(9) (9)Distressed Areas. The department shall award not less than 35 percent of the total amount of grants and loans made under this section to businesses in distressed areas, as defined in s. 560.605 (7).
560.275 History History: 2003 a. 255; 2005 a. 25, 97; 2007 a. 20, 97, 100.
560.276 560.276 Technology transfer grant and loan program.
560.276(1)(1)Definitions. In this section:
560.276(1)(a) (a) "Business" has the meaning given in s. 560.60 (2).
560.276(1)(b) (b) "Research institution" means any of the following if located in this state:
560.276(1)(b)1. 1. An accredited college or university.
560.276(1)(b)2. 2. An accredited school of medicine, dentistry, veterinary medicine, medicine and public health, public health, or health professionals.
560.276(1)(b)3. 3. An accredited center for health sciences.
560.276(1)(b)4. 4. A hospital in which research is conducted. In this subdivision, "hospital" has the meaning given in s. 50.33 (2).
560.276(2) (2)Grants and loans. From the appropriations under s. 20.143 (1) (c), (fi), (ie), (ig), (io), and (kj), the department may award a grant or loan to a research institution to provide money for research and development activities related to the creation or retention of jobs by a business, or to improving the competitive position of a business by improving the innovativeness of the business. The department may award a grant or loan under this section if the research institution applies for a grant or loan on a form prepared by the department and all of the following are satisfied:
560.276(2)(a) (a) The department determines that the research and development activities are likely to result in an economic benefit to one or more specific businesses.
560.276(2)(b) (b) The department determines that the research and development activities will be conducted substantially in this state.
560.276(2)(c) (c) The department considers the availability of matching funds from the research institution, the business, and other sources.
560.276(2)(d) (d) The department enters into a written agreement with the research institution that specifies the conditions for use of the grant or loan proceeds, including reporting and auditing requirements.
560.276(3) (3)Limits. No grant or loan awarded to a research institution under this section may exceed $100,000.
560.276 History History: 2009 a. 265.
560.277 560.277 Wisconsin venture fund.
560.277(1) (1)Definition. In this section, "eligible institution" means a research institution or nonprofit organization involved in economic development.
560.277(2) (2)Capital connections grants. From the appropriation under s. 20.143 (1) (bk), the department may award a grant to an eligible institution to fund a project that does any of the following:
560.277(2)(a) (a) Expands access for Wisconsin business ventures and entrepreneurs to existing capital networks.
560.277(2)(b) (b) Creates or runs a network to connect Wisconsin business ventures and entrepreneurs with available capital.
560.277(2)(c) (c) Creates an activity, event, or strategy to connect Wisconsin business ventures and entrepreneurs with available capital.
560.277(3) (3)Venture seed grants.
560.277(3)(a)(a) From the appropriation under s. 20.143 (1) (bk), the department may award a grant to an eligible institution to match funds raised by the institution for funding a new business or determining proof of concept and feasibility of a new business idea, if the department determines the award of a grant will increase the amount of funding for new businesses or will leverage private investment and facilitate the creation of jobs in this state.
560.277(3)(b) (b) The proceeds of a grant awarded under this subsection shall be used to provide funding as proposed by the institution in the institution's application.
560.277(4) (4)Rule making. The department shall promulgate rules for the administration of this section.
560.277(5) (5) The department shall establish by rule a Wisconsin venture fund advisory council, which shall make recommendations to the department regarding all of the following:
560.277(5)(a) (a) A process by which the department, the department of financial institutions, and other qualified persons may review proposals.
560.277(5)(b) (b) The maximum amount of a grant awarded under sub. (2) or (3).
560.277(5)(c) (c) Requirements that applicants for grants under subs. (2) and (3) secure funding from sources other than the state to match a portion of the amount of a grant awarded under sub. (2) or (3).
560.277(5)(d) (d) Monitoring of projects funded by grants under sub. (2) or (3), including monitoring of job creation.
560.277 History History: 2009 a. 28.
560.28 560.28 Manufacturing investment credit.
560.28(1) (1)Definition. In this section, "full-time job" means a regular, nonseasonal full-time position in which an individual, as a condition of employment, is required to work at least 35 hours in a week.
560.28(2) (2)Certification. The department shall promulgate rules for the certification of businesses as eligible to claim tax credits under s. 71.07 (3t), 71.28 (3t), or 71.47 (3t). The rules shall permit a business to obtain a certification only if the person satisfies one of the following conditions:
560.28(2)(a) (a) The business has retained from December 23, 2003, 100 percent of the business's full-time jobs in this state.
560.28(2)(b) (b) The business's average annual investment in this state since January 1, 2003, is equal to no less than 2 percent of the total book value of the business's depreciable assets in facilities that are based in this state.
560.28(2)(c) (c) The business's average annual investment in this state since January 1, 2003, is no less than $5,000,000.
560.28(2)(d) (d) Any other criteria that is specific to an industry, as promulgated by rule by the department of commerce, in consultation with the department of revenue.
560.28 History History: 2003 a. 99.
560.28 Cross-reference Cross-reference: See also ch. Comm 130, Wis. adm. code.
560.285 560.285 Manufactured housing rehabilitation and recycling.
560.285(1)(1)Definition. In this section, "manufactured home" has the meaning given in s. 101.91 (2).
560.285(2) (2)Grant program.
560.285(2)(a)(a) The department may make grants under this section to provide financial assistance to persons engaged in the disposal of abandoned manufactured homes and to municipalities, for the purpose of supporting environmentally sound disposal practices.
560.285(2)(b) (b) The department may make grants under this section to provide financial assistance to individuals who reside in manufactured homes that are in need of critical repairs. An individual is eligible for a grant under this paragraph only if the individual is otherwise unable to finance the critical repairs.
560.285(3) (3)Administration. The department shall contract with one or more entities that are exempt from taxation under section 501 (a) of the Internal Revenue Code and that employ individuals with technical expertise concerning manufactured housing for the administration of the grant program under this section. The department shall promulgate rules to establish the grant program under this section. To the extent feasible, the department shall coordinate the program under this section with the state housing strategy plan under s. 560.9802.
560.285 History History: 2005 a. 45.
560.285 Cross-reference Cross-reference: See also ch. Comm 156, Wis. adm. code.
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This is an archival version of the Wis. Stats. database for 2009. See Are the Statutes on this Website Official?