Amendment AA3-SB409

LRBa1618/1

TKK:kjf:md

2009 - 2010 LEGISLATURE

ASSEMBLY AMENDMENT 3, TO 2009 SENATE BILL 409

April 7, 2010 - Offered by Representative Molepske Jr..

SB409-AA3,1,2 At the locations indicated, amend the bill, as shown by senate substitute amendment 1, as follows:

SB409-AA3,1,3 1. Page 2, line 9: before that line insert:

SB409-AA3,1,4 " Section 1g. 15.155 (2) (c) of the statutes is created to read:

SB409-AA3,1,5 15.155 (2) (c) The board shall do all of the following:

SB409-AA3,1,7 1. Consult with the department of commerce on strategic economic policy for the state.

SB409-AA3,1,8 2. Suggest legislation to achieve strategic economic policy objectives.".

SB409-AA3,1,9 2. Page 2, line 9: delete " Section 1" and substitute "Section 1r".

SB409-AA3,1,10 3. Page 23, line 7: after that line insert:

SB409-AA3,1,12 " Section 43b. 560.30 (1) of the statutes, as created by 2009 Wisconsin Act 28, is repealed.

SB409-AA3, s. 43c Section 43c. 560.301 (intro.) of the statutes, as created by 2009 Wisconsin Act 28, is amended to read:

SB409-AA3,2,7 560.301 Rules, policies, and standards for awarding grants and making loans. (intro.) The department, in consultation with the board, shall promulgate rules that establish procedures, policies, and standards for implementing this subchapter and awarding grants and making loans under this subchapter. The rules shall include all of the following:

SB409-AA3, s. 43e Section 43e. 560.304 of the statutes, as created by 2009 Wisconsin Act 28, is amended to read:

SB409-AA3,2,13 560.304 Forward innovation fund. The department may award a grant or make a loan to an eligible recipient from the appropriations under s. 20.143 (1) (fi), (gm), and (io). The department shall consult with the board prior to awarding a grant or making a loan under this section.

SB409-AA3, s. 43g Section 43g. 560.305 (1) (intro.) of the statutes, as created by 2009 Wisconsin Act 28, is amended to read:

SB409-AA3,2,20 560.305 (1) (intro.) The department, in cooperation with the board, shall encourage small businesses to apply for grants and loans under this subchapter by ensuring that there are no undue impediments to their participation and by actively encouraging small businesses to apply for grants and loans. The department shall do all of the following:

SB409-AA3, s. 43h Section 43h. 560.305 (3) of the statutes, as created by 2009 Wisconsin Act 28, is amended to read:

SB409-AA3,3,3 560.305 (3) The board department shall develop a policy relating to obtaining reimbursement of grants and loans provided under this subchapter. The policy may provide that reimbursement shall be obtained through full repayment of the principal amount of the grant or loan plus interest, through receipt of a share of future profits from or an interest in a product or process, or through any other appropriate means.

SB409-AA3, s. 43i Section 43i. 560.305 (4) of the statutes, as created by 2009 Wisconsin Act 28, is amended to read:

SB409-AA3,3,8 560.305 (4) The board department shall require, as a condition of a grant or loan, that a recipient contribute to a project an amount that is not less than 25 percent of the amount of the grant or loan.

SB409-AA3, s. 43k Section 43k. 560.60 (1s) of the statutes, as affected by 2009 Wisconsin Act 28, is repealed.

SB409-AA3, s. 43L Section 43L. 560.602 (intro.) of the statutes is amended to read:

SB409-AA3,3,15 560.602 Policies and standards for awarding grants and loans. (intro.) The department, with the approval of the board, shall promulgate rules to establish policies and standards for awarding grants and loans under this subchapter. The rules shall include all of the following:

SB409-AA3, s. 43n Section 43n. 560.605 (1) (intro.) of the statutes is amended to read:

SB409-AA3,3,19 560.605 (1) (intro.) Upon receipt of an application by an eligible recipient, the board department may consider any of the following in determining whether to award a grant or loan under s. 560.61:

SB409-AA3, s. 43o Section 43o. 560.605 (2m) (intro.) of the statutes is amended to read:

SB409-AA3,3,22 560.605 (2m) (intro.) When considering whether a project will be located in a targeted area, the board department may consider any of the following:

SB409-AA3, s. 43p Section 43p. 560.605 (2m) (h) of the statutes is amended to read:

SB409-AA3,3,25 560.605 (2m) (h) Any other factor the board department considers to be an appropriate indicator of a targeted area.

SB409-AA3, s. 43q Section 43q. 560.605 (7) (intro.) of the statutes is amended to read:

SB409-AA3,4,5 560.605 (7) (intro.) The board department shall award not less than 35 percent of the total amount of grants and loans made under this subchapter to businesses in distressed areas. In this paragraph, "distressed area" means an area to which any of the following apply:

SB409-AA3, s. 43r Section 43r. 560.605 (7) (f) of the statutes is amended to read:

SB409-AA3,4,8 560.605 (7) (f) As determined by the board department, the area is affected by another factor that indicates the area is a distressed area.

SB409-AA3, s. 43s Section 43s. 560.61 of the statutes is amended to read:

SB409-AA3,4,12 560.61 Wisconsin development fund. At the request of the board, the The department may make a grant or loan to an eligible recipient from the appropriations under s. 20.143 (1) (c) and (ie).

SB409-AA3, s. 43t Section 43t. 560.68 (2) of the statutes is amended to read:

SB409-AA3,4,17 560.68 (2) The department, in cooperation with the board, shall actively encourage small businesses to apply for grants and loans under this subchapter by ensuring that there are no undue impediments to their participation and by assisting small businesses in preparing grant and loan applications.

SB409-AA3, s. 43u Section 43u. 560.68 (4) of the statutes is amended to read:

SB409-AA3,4,24 560.68 (4) The board department shall develop a policy relating to obtaining reimbursement of grants and loans provided under this subchapter. The policy may provide that reimbursement shall be obtained through full repayment of the principal amount of the grant or loan plus interest, through receipt of a share of future profits from or an interest in a product or process, or through any other appropriate means.

SB409-AA3, s. 43v Section 43v. 560.68 (5) (intro.) of the statutes is amended to read:

SB409-AA3,5,2 560.68 (5) (intro.) The department, with the approval of the board, shall develop procedures related to grants and loans under s. 560.61 for all of the following:

SB409-AA3, s. 43w Section 43w. 560.68 (5m) of the statutes is amended to read:

SB409-AA3,5,8 560.68 (5m) The department, with the approval of the board, shall establish and implement procedures for monitoring the use of grants and loans awarded under this subchapter, including procedures for verification of economic growth, job creation and the number and percentage of newly created jobs for which state residents are hired.

SB409-AA3, s. 43x Section 43x. 560.68 (6) of the statutes is amended to read:

SB409-AA3,5,12 560.68 (6) The board department shall require, as a condition of a grant or loan, that a recipient contribute to a project an amount that is not less than 25% of the amount of the grant or loan.

SB409-AA3, s. 43y Section 43y. 560.68 (7) (intro.) of the statutes is amended to read:

SB409-AA3,5,18 560.68 (7) (intro.) The department, in cooperation with the board, shall encourage small businesses to apply for grants and loans under this subchapter by ensuring that there are no undue impediments to their participation and by actively encouraging small businesses to apply for grants and loans. The department shall do all of the following: