SB77: Bill Text

SB77,1707,2 1. The project will assist entrepreneurs or businesses in the state in obtaining capital for the start-up or development of a business.

SB77,1707,4 2. The project will likely stimulate investment, promote economic development or create or retain jobs in the state.

SB77,1707,9 3. The grant applicant submits a plan that describes the proposed activity, how the activity satisfies the criteria under this paragraph, how the grant will be administered, how the grant proceeds will be used to support the activity and how the activity will be coordinated with other venture capital development projects or programs, including any projects or programs of the department.

SB77,1707,10 4. The secretary approves the plan under subd. 3.

SB77,1707,12 5. The grant applicant funds at least 50% of the total cost of the project by providing cash or in-kind contributions.

SB77,1707,14 (b) The department may not award more than $75,000 in grants under this subsection in any fiscal year.

SB77, s. 4359 Section 4359. 560.14 (5) (b) of the statutes is amended to read:

SB77,1707,17 560.14 (5) (b) Promulgate Subject to par. (d), promulgate rules to develop criteria for evaluating applications for grants under this section.

SB77, s. 4360 Section 4360. 560.14 (5) (d) of the statutes is created to read:

SB77,1707,20 560.14 (5) (d) Give priority for grants under this section for projects related to brownfields redevelopment.

SB77, s. 4361 Section 4361. 560.15 (4) of the statutes is amended to read:

SB77,1708,2 560.15 (4) All records received or created for the purposes of this section shall be closed to public inspection if the department, a chief executive officer of a village, town or city or a community response committee determines that public inspection of the records could adversely affect the business, its employes or former employes, except that information requested under s. 49.22 (2m) shall be disclosed to the person requesting the information.

SB77, s. 4362 Section 4362. 560.15 (5) of the statutes is amended to read:

SB77,1708,11 560.15 (5) Each employe of the department, and each member of the community response committee, and each chief executive officer of a village, town or city and employes of his or her office shall keep secret all facts and information obtained in the course of performing their responsibilities under this section, except that facts and information requested under s. 49.22 (2m) shall be disclosed to the person making the request. This subsection does not prohibit the public inspection of records to the extent permitted under sub. (4) nor meetings in open session to the extent permitted under s. 19.85 (1) (i).

SB77, s. 4363 Section 4363. 560.16 (title) of the statutes is amended to read:

SB77,1708,13 560.16 (title) Employe ownership assistance loans grants.

SB77, s. 4364 Section 4364. 560.16 (1) (b) of the statutes is amended to read:

SB77,1708,16 560.16 (1) (b) "Business" means an employe-owned business or an existing business which is the subject of an application for a loan grant under this section.

SB77, s. 4365 Section 4365. 560.16 (2) (title) of the statutes is amended to read:

SB77,1708,18 560.16 (2) (title) Employe ownership assistance loans grants .

SB77, s. 4366 Section 4366. 560.16 (2) (a) of the statutes is amended to read:

SB77,1708,23 560.16 (2) (a) From the appropriations under s. 20.143 (1) (c) and (ie), the department may make loans grants to existing business groups for a feasibility study to investigate the reorganization or new incorporation of an existing business as an employe-owned business and for professional services to implement the study.

SB77, s. 4367 Section 4367. 560.16 (2) (b) of the statutes is amended to read:

SB77,1709,3 560.16 (2) (b) The department may not make a loan grant under this section unless the board has approved the loan grant under this section or requested the department to make the grant under s. 560.61 (3).

SB77, s. 4368 Section 4368. 560.16 (2) (c) (intro.) of the statutes is amended to read:

SB77,1709,6 560.16 (2) (c) (intro.) The board may not approve a loan grant under this section unless the board has considered all of the following:

SB77, s. 4369 Section 4369. 560.16 (2) (d) of the statutes is amended to read:

SB77,1709,10 560.16 (2) (d) The board may approve a loan grant regardless of the number of employes laid off or to be laid off by the business or, if the business is closed, the length of time that it has been closed.

SB77, s. 4370 Section 4370. 560.16 (3) (intro.) of the statutes is amended to read:

SB77,1709,14 560.16 (3) (title) Loan Grant applications. (intro.) To apply for a loan grant under this section, a group shall submit an application to the department which includes:

SB77, s. 4371 Section 4371. 560.16 (3) (e) of the statutes is amended to read:

SB77,1709,18 560.16 (3) (e) A description of the group's financial assets available to match the loan grant and a statement indicating the group's willingness to match the loan grant.

SB77, s. 4372 Section 4372. 560.16 (3) (f) of the statutes is amended to read:

SB77,1709,22 560.16 (3) (f) A written commitment from a person with the recognized expertise and experience necessary to conduct the feasibility study or provide the professional services to be financed by the loan grant.

SB77, s. 4373 Section 4373. 560.16 (4) (title) of the statutes is amended to read:

SB77,1709,24 560.16 (4) (title) Loan Grant limits; contract approval.

SB77, s. 4374 Section 4374. 560.16 (4) (a) of the statutes is amended to read:

SB77,1710,3 560.16 (4) (a) A loan grant to a group under this section may not exceed $25,000 unless the joint committee on finance, under s. 13.101 (5m), approves a specified amount exceeding $25,000 $15,000.

SB77, s. 4375 Section 4375. 560.16 (4) (b) of the statutes is amended to read:

SB77,1710,9 560.16 (4) (b) As a condition of approval of a loan grant to a group under this section, the board shall require that the group provide matching funds for at least 25% of the cost of the project, except that the board may waive application of that requirement if the board determines that the group is subject to extreme financial hardship.

SB77, s. 4376 Section 4376. 560.16 (4) (c) of the statutes is amended to read:

SB77,1710,16 560.16 (4) (c) Any contract for any feasibility study or professional services financed by a loan grant under sub. (2) (a) shall be subject to the approval of the board department. The board department may not approve such a contract unless it determines that the contractor has the expertise required to provide the necessary study or services and that the contractor's costs are consistent with existing market rates.

SB77, s. 4377 Section 4377. 560.16 (5) of the statutes is repealed.

SB77, s. 4378 Section 4378. 560.16 (6) (a) (intro.) of the statutes is amended to read:

SB77,1710,20 560.16 (6) (a) (intro.) Any feasibility study of an existing business financed by a loan grant under sub. (2) (a) shall may include:

SB77, s. 4379 Section 4379. 560.16 (6) (b) of the statutes is amended to read:

SB77,1711,3 560.16 (6) (b) The results of a feasibility study of an existing business financed by a loan grant under sub. (2) (a) shall be solely for the use of the group which received the loan grant, except that if the group's bid to purchase the business has been withdrawn, rejected or terminated, the group shall submit a copy of the study and the results of any professional services financed by the loan grant to the board and the board may provide a copy of such results to any person seeking to purchase the existing business.

SB77, s. 4380 Section 4380. 560.165 of the statutes is created to read:

SB77,1711,9 560.165 Division of international and export development; fees. The division of international and export development may charge fees for services it provides to cover the costs incurred by the division in providing the services. The division shall deposit all fees collected under this section in the appropriation account under s. 20.143 (1) (g).

SB77, s. 4381 Section 4381. 560.17 (1) (am) of the statutes is created to read:

SB77,1711,11 560.17 (1) (am) "Brownfields" has the meaning given in s. 560.60 (1v).

SB77, s. 4382 Section 4382. 560.17 (1) (bm) of the statutes is created to read:

SB77,1711,13 560.17 (1) (bm) "Job" has the meaning given in s. 560.60 (10).

SB77, s. 4383 Section 4383. 560.17 (1) (d) 2. of the statutes is amended to read:

SB77,1711,15 560.17 (1) (d) 2. A city, town or village with a population of 4,000 6,000 or less.

SB77, s. 4384 Section 4384. 560.17 (3) (intro.) of the statutes is amended to read:

SB77,1711,18 560.17 (3) (intro.) The Subject to sub. (4m), the board may award a grant or loan under this subsection to a business if all of the following apply:

SB77, s. 4385 Section 4385. 560.17 (3) (a) of the statutes is amended to read:

SB77,1711,20 560.17 (3) (a) The amount of the grant or loan does not exceed $30,000 $15,000.

SB77, s. 4386 Section 4386. 560.17 (3) (b) of the statutes is amended to read:

SB77,1711,23 560.17 (3) (b) The business, together with any affiliate, subsidiary or parent entity, has fewer than 25 100 employes.

SB77, s. 4387 Section 4387. 560.17 (3) (e) of the statutes is amended to read:

SB77,1712,2 560.17 (3) (e) The proceeds of the grant or loan will be used by the business as provided in sub. (5).

SB77, s. 4388 Section 4388. 560.17 (4) (c) of the statutes is amended to read:

SB77,1712,5 560.17 (4) (c) The number of new jobs created by the business in relation to the amount of the grant or loan.

SB77, s. 4389 Section 4389. 560.17 (4) (cm) of the statutes is created to read:

SB77,1712,9 560.17 (4) (cm) In relation to the amount of the grant, the number of existing jobs that will be retained by the business if the grant is awarded and that likely would not be retained if the grant is not awarded.

SB77, s. 4390 Section 4390. 560.17 (4) (f) of the statutes is amended to read:

SB77,1712,12 560.17 (4) (f) Whether the business would be able to start or expand its operations without a grant or loan.

SB77, s. 4391 Section 4391. 560.17 (4m) of the statutes is created to read:

SB77,1712,18 560.17 (4m) Of the total amount awarded in grants in a fiscal biennium under sub. (3), the board shall award not less than 25% and not more than 50% for purposes related to an agricultural business. The board shall give priority under this subsection for grants that will be used for purposes related to a dairy farm, as defined in s. 97.22 (1) (a).

SB77, s. 4392 Section 4392. 560.17 (5) (intro.) of the statutes is amended to read:

SB77,1712,21 560.17 (5) (intro.)  A business shall use the proceeds of a grant or loan under sub. (3) to pay for any of the following:

SB77, s. 4393 Section 4393. 560.17 (5c) of the statutes is created to read:

SB77,1713,2 560.17 (5c) (a) Subject to par. (b), the board may award a grant under this subsection to a person or business proposing to start up, modernize or expand in this state a dairy farm, as defined in s. 97.22 (1) (a), or other agricultural business if all of the following apply:

SB77,1713,4 1. The dairy farm or other agricultural business is or will be owned by the person or business.

SB77,1713,5 2. The amount of the grant does not exceed $50,000.

SB77,1713,10 3. The grant proceeds will be used to pay for services related to the start-up, modernization or expansion of the dairy farm or other agricultural business, or for management assistance, as defined in s. 560.20 (1) (cf), continuing after the completion of the start-up, modernization or expansion of the dairy farm or other agricultural business.

SB77,1713,12 4. The grant is likely to result in the start-up, modernization or expansion of the dairy farm or other agricultural business.

SB77,1713,14 (b) The total amount of grants awarded under this subsection in any fiscal year may not exceed $200,000.

SB77, s. 4394 Section 4394. 560.17 (5m) (a) (intro.) of the statutes is amended to read:

SB77,1713,18 560.17 (5m) (a) (intro.) Subject to par. (c) (cm), the board may award a grant or loan under this subsection that does not exceed $25,000 $100,000 to a business if all of the following apply:

SB77, s. 4395 Section 4395. 560.17 (5m) (a) 1. of the statutes is amended to read:

SB77,1713,21 560.17 (5m) (a) 1. The business, together with any affiliate, subsidiary or parent entity, has fewer than 25 100 employes.

SB77, s. 4396 Section 4396. 560.17 (5m) (a) 4. of the statutes is amended to read:

SB77,1713,25 560.17 (5m) (a) 4. The business received a grant or loan under sub. (3) and with the proceeds successfully demonstrated its demonstrates the feasibility of the project.

SB77, s. 4397 Section 4397. 560.17 (5m) (b) (intro.) of the statutes is amended to read:

SB77,1714,3 560.17 (5m) (b) (intro.) A business shall use the proceeds of a grant or loan under this subsection for any of the following:

SB77, s. 4398 Section 4398. 560.17 (5m) (bm) of the statutes is amended to read: