SB287: Bill Text

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1995 - 1996 LEGISLATURE

1995 Senate BILL 287

August 2, 1995 - Introduced by Senators Weeden, Ellis and Rude, by request of Governor Tommy G. Thompson. Referred to Committee on Business, Economic Development and Urban Affairs.

SB287,1,4 An Act to amend 560.605 (1) (intro.), 560.605 (2) (intro.), 560.605 (2m) (intro.), 560.61 (intro.), 560.61 (1), 560.61 (3) and 560.625; and to create 560.61 (2) of the statutes; relating to: making grants and loans under the small business innovative research program.

Analysis by the Legislative Reference Bureau

Under current law, the development finance board makes all grants and loans under the programs funded by the Wisconsin development fund. The grants and loans are made to eligible recipients for technology development, innovative research, customized labor training, major economic development projects, the establishment or expansion of a diaper service and the production of products made from postconsumer waste. This bill authorizes the department of development, rather than the development finance board, to make grants and loans to eligible recipients under the Wisconsin development fund program that makes such awards to small businesses for innovative research having a potential commercial application.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

SB287, s. 1 Section 1. 560.605 (1) (intro.) of the statutes is amended to read:

SB287,2,3 560.605 (1) (intro.)  The board may award a grant or loan under s. 560.61 upon Upon the receipt and consideration of an application by an eligible recipient, the board may award a grant or loan under s. 560.61 for a project under ss. 560.62 to 560.66 s. 560.62, 560.63, 560.65 or 560.66, and the department may award a grant or loan under s. 560.61 for a project under s. 560.625, if the board or the department, whichever is appropriate, determines all of the following:

SB287, s. 2 Section 2. 560.605 (2) (intro.) of the statutes is amended to read:

SB287,2,8 560.605 (2) (intro.) The board, for a project under s. 560.62, 560.63 or 560.66, and the department, for a project under s. 560.625, shall consider all of the following before awarding a grant or loan to an eligible recipient for a project under ss. 560.62, 560.625, 560.63 or 560.66:

SB287, s. 3 Section 3. 560.605 (2m) (intro.) of the statutes is amended to read:

SB287,2,12 560.605 (2m) (intro.)  When considering whether a project under ss. s. 560.62, 560.625, 560.63 or 560.66 will be located in a targeted area, the board or the department, whichever is appropriate, shall consider all of the following:

SB287, s. 4 Section 4. 560.61 (intro.) of the statutes is amended to read:

SB287,2,15 560.61 Wisconsin development fund. (intro.) At the request of the board, the The department shall do all of the following:

SB287, s. 5 Section 5. 560.61 (1) of the statutes, as affected by 1993 Wisconsin Act 75, is amended to read:

SB287,2,21 560.61 (1) Make At the request of the board, 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, 560.625, 560.63, 560.65 or 560.66, whichever is appropriate, from the appropriations under s. 20.143 (1) (c) and (ie).

SB287, s. 6 Section 6. 560.61 (2) of the statutes is created to read:

SB287,2,25 560.61 (2) 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 560.625 from the appropriations under s. 20.143 (1) (c) and (ie.).

SB287, s. 7 Section 7. 560.61 (3) of the statutes is amended to read:

SB287,3,4 560.61 (3) Make At the request of the board, make a loan under s. 560.16 from the appropriations under s. 20.143 (1) (c) and (ie) if the board determines that the loan meets the requirements of s. 560.16.

SB287, s. 8 Section 8. 560.625 of the statutes is amended to read:

SB287,3,9 560.625 Research grants and loans. The board department may award a research grant or loan under s. 560.61 to a small business to fund research having a potential commercial application. The total amount of grants and loans made under this section may not exceed $300,000 in any fiscal year.

SB287, s. 9 Section 9. Effective date.

SB287,3,12 (1)  This act takes effect on July 1, 1995, or on the day after publication, whichever is later.

SB287,3,13 (End)