560.82 (title) Minority business early planning grants and loans.
125,96
Section
96. 560.82 (1) of the statutes is renumbered 560.82 (1m) (intro.) and amended to read:
560.82 (1m) (intro.) Subject to s. 560.84, the department The board may award a grant or loan under this section to an any of the following:
(a) Subject to s. 560.84, an eligible recipient, as defined in s. 560.80 (5) (a), to fund an early planning project.
125,97
Section
97. 560.82 (1m) (b) and (c) of the statutes are created to read:
560.82 (1m) (b) Subject to s. 560.84, an eligible recipient or local development corporation that submits application materials in a form specified by the department by rule to fund eligible development project costs.
(c) A local development corporation to make grants or loans under sub. (2g) (a) 1. or to fund a revolving fund program under sub. (2g) (a) 2.
125,98
Section
98. 560.82 (2) (intro.) of the statutes is amended to read:
560.82 (2) (intro.) The department
board may not award a grant or loan under sub. (1)
(1m) (a) unless the eligible recipient, as defined in s. 560.80 (5) (a), submits an application, in a form required by the department, that contains or describes all of the following:
125,99
Section
99. 560.82 (3) (intro.) of the statutes is amended to read:
560.82 (3) (intro.) An eligible recipient, as defined in s. 560.80 (5) (a), who receives a grant or loan under sub. (1) (1m) (a) or s. 560.835 (6), 2001 stats., may only use the proceeds of the grant for the following purposes:
125,100
Section
100. 560.82 (4) (intro.) of the statutes is amended to read:
560.82 (4) (intro.) In any fiscal biennium, the department The board may not do any of the following:
125,101
Section
101. 560.82 (4) (a) (intro.) of the statutes is amended to read:
560.82 (4) (a) (intro.) Award in a fiscal biennium, for grants or loans under sub. (1) (1m) (a), more than 25% of the total of all of the following:
125,102
Section
102. 560.82 (4) (a) 2. of the statutes is amended to read:
560.82 (4) (a) 2. The lesser of the funds received in a fiscal biennium in repayment of grants or loans under s. 560.83, 2005 stats., and this section or the funds appropriated for the fiscal biennium under s. 20.143 (1) (im).
125,103
Section
103. 560.82 (4) (b) of the statutes is amended to read:
560.82 (4) (b) Award, in a fiscal biennium to any one eligible recipient, as defined in s. 560.80 (5) (a), or for any one early planning project, grants or loans under sub. (1) (1m) (a) that total more than $15,000.
125,104
Section
104. 560.82 (5) (a) of the statutes is repealed.
125,105
Section
105. 560.82 (5) (b) of the statutes is renumbered 560.82 (5) and amended to read:
560.82 (5) If the department board awards a grant or loan under sub. (1) (1m) (a), the department may contract directly with and pay grant or loan proceeds directly to any person providing technical or management assistance to the grant or loan recipient.
125,106
Section
106. 560.83 (title) of the statutes is repealed.
125,107
Section
107. 560.83 (1) of the statutes is repealed.
125,108
Section
108. 560.83 (2) of the statutes is renumbered 560.82 (2g).
125,109
Section
109. 560.83 (3) of the statutes is renumbered 560.82 (2g) (c) and amended to read:
560.82 (2g) (c) The board may not award a grant or loan under sub. (1) or (2) unless the eligible recipient or the local development corporation submits an application, or other materials, in a form specified by the department by rule.
125,110
Section
110. 560.83 (4) (a) of the statutes is renumbered 560.82 (4) (c) and amended to read:
560.82 (4) (c) In Award in any fiscal biennium, the board may not award, to any one eligible recipient or local development corporation or for any one development project, grants or loans under sub. (1) (1m) (b) that total more than $100,000 in a fiscal biennium.
125,111
Section
111. 560.83 (4) (b) of the statutes is renumbered 560.82 (4) (d) and amended to read:
560.82 (4) (d) In Award, in any fiscal year, the board may not award to any one local development corporation, grants or loans under sub. (2) (1m) (c) that total more than $200,000.
125,112
Section
112. 560.83 (5) of the statutes is repealed.
125,113
Section
113. 560.837 (1) (intro.) of the statutes is renumbered 560.82 (1m) (d) (intro.) and amended to read:
560.82 (1m) (d) (intro.) Subject to s. 560.84, the board may award a grant under this subsection to a nonprofit organization or private financial institution, as defined in s. 234.01 (5k), whether or not for profit, to fund a finance project if all of the following apply:
125,114
Section
114. 560.837 (1) (a) of the statutes is renumbered 560.82 (1m) (d) 1.
125,115
Section
115. 560.837 (1) (b) of the statutes is renumbered 560.82 (1m) (d) 2. and amended to read:
560.82 (1m) (d) 2. The loans for working capital under par. (a) 1. subd. 1. a. do not exceed $5,000.
125,116
Section
116. 560.837 (2) of the statutes is renumbered 560.82 (1m) (e).
125,117
Section
117. 560.84 (1) (intro.) of the statutes is amended to read:
560.84 (1) (intro.) The department or board may not award a grant or loan for a project under this subchapter unless, after considering the application or other material submitted by the eligible recipient or local development corporation, the department or board determines all of the following:
125,118
Section
118. 560.84 (1) (b) 1. of the statutes is amended to read:
560.84 (1) (b) 1. If an early planning project under s. 560.82, that the project will increase employment in this state.
125,119
Section
119. 560.84 (1) (e) 1. of the statutes is amended to read:
560.84 (1) (e) 1. For grants funding early planning projects under s. 560.82 (1m) (a), not less than 25% of the cost of the project. Up to 50% of the contribution under this subdivision may be in the form of the in-kind services of a qualified 3rd party or qualified 3rd parties. The department shall determine what services may be used as in-kind contributions and whether a 3rd party is qualified, for purposes of this subdivision.
125,120
Section
120. 560.84 (1) (f) of the statutes is amended to read:
560.84 (1) (f) That the project meets all applicable criteria set forth in s. 560.82, 560.83, or 560.837, whichever is appropriate.
125,121
Section
121. 560.84 (2) (a) 1. of the statutes is amended to read:
560.84 (2) (a) 1. If an early planning project under s. 560.82, the extent to which the project will increase employment in this state.
125,122
Section
122. 560.85 (2) of the statutes is amended to read:
560.85 (2) The board shall develop a policy governing the repayment of grants and loans made under s. 560.83 560.82 (1m) (b) and (c). The board or department shall deposit moneys received in repayment of grants and loans under s. 560.83 560.82 (1m) (b) and (c) in the appropriation under s. 20.143 (1) (im).
125,123
Section
123. 560.85 (3) (a) of the statutes is amended to read:
560.85 (3) (a) Develop procedures to evaluate applications and monitor project performance for grants awarded for early planning projects under s. 560.82 (1m) (a) or s. 560.835 (6), 2001 stats.
125,124
Section
124. 560.85 (3) (b) of the statutes is amended to read:
560.85 (3) (b) Develop procedures, with the approval of the board, to evaluate applications, monitor project performance, and audit grants and loans awarded for development projects under s. 560.83 560.82 (1m) (b), projects under s. 560.835, 2001 stats., and finance projects and education and training projects under s. 560.837 560.82 (1m) (d) and (e).
125,125
Section
125. 560.905 (2) of the statutes is amended to read:
560.905 (2) The standing committees of the senate and assembly with jurisdiction over science and technology shall advise the department concerning the administration of this subchapter. The department shall consider the advice of the committees in carrying out the functions under this subchapter. Annually, the department shall submit a report on the department's activities to the chief clerk of each house of the legislature for distribution under s. 13.172 (3) to the standing committees with jurisdiction over science and technology.
125,126
Section
126. 560.91 of the statutes is repealed.
125,127
Section
127. 560.915 of the statutes is repealed.
125,128
Section
128. 560.925 of the statutes is repealed.
125,129
Section
129. 560.935 of the statutes is repealed.
125,130
Section
130.
Fiscal changes.
(1) The unencumbered balance in the appropriation account under section 20.143 (1) (x), 2005 stats., is transferred to the appropriation account under section 20.143 (1) (c) of the statutes.
