AB741, s. 77 23Section 77. 560.17 (6m) (b) of the statutes is repealed.
AB741, s. 78 24Section 78. 560.17 (7) (a) of the statutes is amended to read:
AB741,32,7
1560.17 (7) (a) Except as provided in par. (am), the department shall designate
2staff to evaluate applications for grants or loans and assist the board under this
3section. The board shall act on an application for a grant or loan at its next regularly
4scheduled meeting after the department determines that the application is complete,
5except that the board shall act on an application for a loan under sub. (5r) and advise
6the applicant of its decision within 45 days after the department determines that the
7application is complete
.
AB741, s. 79 8Section 79. 560.205 (3) (c) of the statutes is repealed.
AB741, s. 80 9Section 80. 560.29 (3) of the statutes is created to read:
AB741,32,1110 560.29 (3) Department reporting requirements. The department shall
11include in the report required under s. 560.01 (2) (am) all of the following:
AB741,32,1312 (a) The total amount of certified capital investments made, by calendar year,
13since July 1, 1999.
AB741,32,1514 (b) Statistical information on the qualified investments made by certified
15capital companies during the previous 2 calendar years.
AB741,32,1816 (c) The department's assessment of the number of jobs created in this state
17during the previous 2 calendar years as a result of qualified investments made by
18certified capital companies under this section.
AB741, s. 81 19Section 81. 560.42 (5) of the statutes is repealed.
AB741, s. 82 20Section 82. 560.52 of the statutes is repealed.
AB741, s. 83 21Section 83. 560.55 of the statutes is repealed.
AB741, s. 84 22Section 84. 560.607 (2) of the statutes is repealed.
AB741, s. 85 23Section 85. Subchapter VII (title) of chapter 560 [precedes 560.80] of the
24statutes is amended to read:
AB741,32,2525 CHAPTER 560
AB741,33,3
1SUBCHAPTER VII
2 MINORITY BUSINESS EARLY PLANNING AND DEVELOPMENT PROJECTS
3 grants and loans
AB741, s. 86 4Section 86. 560.80 (3m) of the statutes is amended to read:
AB741,33,85 560.80 (3m) "Education and training project" means a business education and
6training program for minority group members and minority businesses that have
7received loans for working capital from an eligible recipient under s. 560.837 (1) (b)
8560.82 (1m) (e).
AB741, s. 87 9Section 87. 560.80 (4) of the statutes is amended to read:
AB741,33,1410 560.80 (4) "Eligible development project costs" means costs that, in accordance
11with sound business and financial practices, are appropriately incurred in
12connection with a development project, but does not include entertainment expenses
13or expenses incurred more than 6 months before the board approves a grant or loan
14under s. 560.83 560.82 (1m) (b).
AB741, s. 88 15Section 88. 560.80 (5) of the statutes is renumbered 560.80 (5) (intro.) and
16amended to read:
AB741,33,1917 560.80 (5) (intro.) "Eligible recipient" means a person who is eligible to receive
18a grant under s. 560.82 (5) (a) or 560.837 or a grant or loan under s. 560.83 (5) (a) or
19(b).
any of the following:
AB741, s. 89 20Section 89. 560.80 (5) (a) and (b) of the statutes are created to read:
AB741,33,2221 560.80 (5) (a) An individual who is a minority group member and a resident
22of this state.
AB741,33,2323 (b) A minority business.
AB741, s. 90 24Section 90. 560.80 (5) (c) of the statutes is created to read:
AB741,34,2
1560.80 (5) (c) A person who is eligible to receive a grant under s. 560.82 (1m)
2(d) or (e).
AB741, s. 91 3Section 91. 560.80 (5m) of the statutes is amended to read:
AB741,34,54 560.80 (5m) "Finance project" means financial assistance to a minority group
5member or a minority business described in s. 560.837 560.82 (1m) (d) and (e).
AB741, s. 92 6Section 92. 560.81 (title) of the statutes is repealed.
AB741, s. 93 7Section 93. 560.81 (intro.) of the statutes is renumbered 560.82 (1g) and
8amended to read:
AB741,34,129 560.82 (1g) The department shall make a grant or loan to an eligible recipient
10or local development corporation under this subchapter section if any of the following
11apply:
the board awards a grant or loan to the eligible recipient or local development
12corporation under sub. (1m).
AB741, s. 94 13Section 94. 560.81 (1) to (4) of the statutes are repealed.
AB741, s. 95 14Section 95. 560.82 (title) of the statutes is amended to read:
AB741,34,15 15560.82 (title) Minority business early planning grants and loans.
AB741, s. 96 16Section 96. 560.82 (1) of the statutes is renumbered 560.82 (1m) (intro.) and
17amended to read:
AB741,34,1918 560.82 (1m) (intro.) Subject to s. 560.84, the department The board may award
19a grant or loan under this section to an any of the following:
AB741,34,21 20(a) Subject to s. 560.84, an eligible recipient, as defined in s. 560.80 (5) (a), to
21fund an early planning project.
AB741, s. 97 22Section 97. 560.82 (1m) (b) and (c) of the statutes are created to read:
AB741,34,2523 560.82 (1m) (b) Subject to s. 560.84, an eligible recipient or local development
24corporation that submits application materials in a form specified by the department
25by rule to fund eligible development project costs.
AB741,35,2
1(c) A local development corporation to make grants or loans under sub. (2g) (a)
21. or to fund a revolving fund program under sub. (2g) (a) 2.
AB741, s. 98 3Section 98. 560.82 (2) (intro.) of the statutes is amended to read:
AB741,35,74 560.82 (2) (intro.) The department board may not award a grant or loan under
5sub. (1) (1m) (a) unless the eligible recipient, as defined in s. 560.80 (5) (a), submits
6an application, in a form required by the department, that contains or describes all
7of the following:
AB741, s. 99 8Section 99. 560.82 (3) (intro.) of the statutes is amended to read:
AB741,35,119 560.82 (3) (intro.) An eligible recipient, as defined in s. 560.80 (5) (a), who
10receives a grant or loan under sub. (1) (1m) (a) or s. 560.835 (6), 2001 stats., may only
11use the proceeds of the grant for the following purposes:
AB741, s. 100 12Section 100. 560.82 (4) (intro.) of the statutes is amended to read:
AB741,35,1413 560.82 (4) (intro.) In any fiscal biennium, the department The board may not
14do any of the following:
AB741, s. 101 15Section 101. 560.82 (4) (a) (intro.) of the statutes is amended to read:
AB741,35,1716 560.82 (4) (a) (intro.) Award in a fiscal biennium, for grants or loans under sub.
17(1) (1m) (a), more than 25% of the total of all of the following:
AB741, s. 102 18Section 102. 560.82 (4) (a) 2. of the statutes is amended to read:
AB741,35,2119 560.82 (4) (a) 2. The lesser of the funds received in a fiscal biennium in
20repayment of grants or loans under s. 560.83, 2005 stats., and this section or the
21funds appropriated for the fiscal biennium under s. 20.143 (1) (im).
AB741, s. 103 22Section 103. 560.82 (4) (b) of the statutes is amended to read:
AB741,35,2523 560.82 (4) (b) Award, in a fiscal biennium to any one eligible recipient, as
24defined in s. 560.80 (5) (a),
or for any one early planning project, grants or loans under
25sub. (1) (1m) (a) that total more than $15,000.
AB741, s. 104
1Section 104. 560.82 (5) (a) of the statutes is repealed.
AB741, s. 105 2Section 105. 560.82 (5) (b) of the statutes is renumbered 560.82 (5) and
3amended to read:
AB741,36,74 560.82 (5) If the department board awards a grant or loan under sub. (1) (1m)
5(a)
, the department may contract directly with and pay grant or loan proceeds
6directly to any person providing technical or management assistance to the grant or
7loan
recipient.
AB741, s. 106 8Section 106. 560.83 (title) of the statutes is repealed.
AB741, s. 107 9Section 107. 560.83 (1) of the statutes is repealed.
AB741, s. 108 10Section 108. 560.83 (2) of the statutes is renumbered 560.82 (2g).
AB741, s. 109 11Section 109. 560.83 (3) of the statutes is renumbered 560.82 (2g) (c) and
12amended to read:
AB741,36,1513 560.82 (2g) (c) The board may not award a grant or loan under sub. (1) or (2)
14unless the eligible recipient or the
local development corporation submits an
15application, or other materials, in a form specified by the department by rule.
AB741, s. 110 16Section 110. 560.83 (4) (a) of the statutes is renumbered 560.82 (4) (c) and
17amended to read:
AB741,36,2118 560.82 (4) (c) In Award in any fiscal biennium, the board may not award, to any
19one eligible recipient or local development corporation or for any one development
20project, grants or loans under sub. (1) (1m) (b) that total more than $100,000 in a
21fiscal biennium.
AB741, s. 111 22Section 111. 560.83 (4) (b) of the statutes is renumbered 560.82 (4) (d) and
23amended to read:
AB741,37,3
1560.82 (4) (d) In Award, in any fiscal year, the board may not award to any one
2local development corporation, grants or loans under sub. (2) (1m) (c) that total more
3than $200,000.
AB741, s. 112 4Section 112. 560.83 (5) of the statutes is repealed.
AB741, s. 113 5Section 113. 560.837 (1) (intro.) of the statutes is renumbered 560.82 (1m) (d)
6(intro.) and amended to read:
AB741,37,107 560.82 (1m) (d) (intro.) Subject to s. 560.84, the board may award a grant under
8this subsection to
a nonprofit organization or private financial institution, as defined
9in s. 234.01 (5k), whether or not for profit, to fund a finance project if all of the
10following apply:
AB741, s. 114 11Section 114. 560.837 (1) (a) of the statutes is renumbered 560.82 (1m) (d) 1.
AB741, s. 115 12Section 115. 560.837 (1) (b) of the statutes is renumbered 560.82 (1m) (d) 2.
13and amended to read:
AB741,37,1514 560.82 (1m) (d) 2. The loans for working capital under par. (a) 1. subd. 1. a. do
15not exceed $5,000.
AB741, s. 116 16Section 116. 560.837 (2) of the statutes is renumbered 560.82 (1m) (e).
AB741, s. 117 17Section 117. 560.84 (1) (intro.) of the statutes is amended to read:
AB741,37,2118 560.84 (1) (intro.) The department or board may not award a grant or loan for
19a project under this subchapter unless, after considering the application or other
20material submitted by the eligible recipient or local development corporation, the
21department or board determines all of the following:
AB741, s. 118 22Section 118. 560.84 (1) (b) 1. of the statutes is amended to read:
AB741,37,2423 560.84 (1) (b) 1. If an early planning project under s. 560.82, that the project
24will increase employment in this state.
AB741, s. 119 25Section 119. 560.84 (1) (e) 1. of the statutes is amended to read:
AB741,38,6
1560.84 (1) (e) 1. For grants funding early planning projects under s. 560.82 (1m)
2(a)
, not less than 25% of the cost of the project. Up to 50% of the contribution under
3this subdivision may be in the form of the in-kind services of a qualified 3rd party
4or qualified 3rd parties. The department shall determine what services may be used
5as in-kind contributions and whether a 3rd party is qualified, for purposes of this
6subdivision.
AB741, s. 120 7Section 120. 560.84 (1) (f) of the statutes is amended to read:
AB741,38,98 560.84 (1) (f) That the project meets all applicable criteria set forth in s. 560.82,
9560.83, or 560.837, whichever is appropriate
.
AB741, s. 121 10Section 121. 560.84 (2) (a) 1. of the statutes is amended to read:
AB741,38,1211 560.84 (2) (a) 1. If an early planning project under s. 560.82, the extent to which
12the project will increase employment in this state.
AB741, s. 122 13Section 122. 560.85 (2) of the statutes is amended to read:
AB741,38,1714 560.85 (2) The board shall develop a policy governing the repayment of grants
15and loans made under s. 560.83 560.82 (1m) (b) and (c). The board or department
16shall deposit moneys received in repayment of grants and loans under s. 560.83
17560.82 (1m) (b) and (c) in the appropriation under s. 20.143 (1) (im).
AB741, s. 123 18Section 123. 560.85 (3) (a) of the statutes is amended to read:
AB741,38,2119 560.85 (3) (a) Develop procedures to evaluate applications and monitor project
20performance for grants awarded for early planning projects under s. 560.82 (1m) (a)
21or s. 560.835 (6), 2001 stats.
AB741, s. 124 22Section 124. 560.85 (3) (b) of the statutes is amended to read:
AB741,39,223 560.85 (3) (b) Develop procedures, with the approval of the board, to evaluate
24applications, monitor project performance, and audit grants and loans awarded for
25development projects under s. 560.83 560.82 (1m) (b), projects under s. 560.835, 2001

1stats., and finance projects and education and training projects under s. 560.837
2560.82 (1m) (d) and (e)
.
AB741, s. 125 3Section 125. 560.905 (2) of the statutes is amended to read:
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