AB741: Bill Text

AB741,36,15 560.82 (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.

AB741, s. 110 Section 110. 560.83 (4) (a) of the statutes is renumbered 560.82 (4) (c) and amended to read:

AB741,36,21 560.82 (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.

AB741, s. 111 Section 111. 560.83 (4) (b) of the statutes is renumbered 560.82 (4) (d) and amended to read:

AB741,37,3 560.82 (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.

AB741, s. 112 Section 112. 560.83 (5) of the statutes is repealed.

AB741, s. 113 Section 113. 560.837 (1) (intro.) of the statutes is renumbered 560.82 (1m) (d) (intro.) and amended to read:

AB741,37,10 560.82 (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:

AB741, s. 114 Section 114. 560.837 (1) (a) of the statutes is renumbered 560.82 (1m) (d) 1.

AB741, s. 115 Section 115. 560.837 (1) (b) of the statutes is renumbered 560.82 (1m) (d) 2. and amended to read:

AB741,37,15 560.82 (1m) (d) 2. The loans for working capital under par. (a) 1. subd. 1. a. do not exceed $5,000.

AB741, s. 116 Section 116. 560.837 (2) of the statutes is renumbered 560.82 (1m) (e).

AB741, s. 117 Section 117. 560.84 (1) (intro.) of the statutes is amended to read:

AB741,37,21 560.84 (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:

AB741, s. 118 Section 118. 560.84 (1) (b) 1. of the statutes is amended to read:

AB741,37,24 560.84 (1) (b) 1. If an early planning project under s. 560.82, that the project will increase employment in this state.

AB741, s. 119 Section 119. 560.84 (1) (e) 1. of the statutes is amended to read:

AB741,38,6 560.84 (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.

AB741, s. 120 Section 120. 560.84 (1) (f) of the statutes is amended to read:

AB741,38,9 560.84 (1) (f) That the project meets all applicable criteria set forth in s. 560.82, 560.83, or 560.837, whichever is appropriate.

AB741, s. 121 Section 121. 560.84 (2) (a) 1. of the statutes is amended to read:

AB741,38,12 560.84 (2) (a) 1. If an early planning project under s. 560.82, the extent to which the project will increase employment in this state.

AB741, s. 122 Section 122. 560.85 (2) of the statutes is amended to read:

AB741,38,17 560.85 (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).

AB741, s. 123 Section 123. 560.85 (3) (a) of the statutes is amended to read:

AB741,38,21 560.85 (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.

AB741, s. 124 Section 124. 560.85 (3) (b) of the statutes is amended to read:

AB741,39,2 560.85 (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).

AB741, s. 125 Section 125. 560.905 (2) of the statutes is amended to read:

AB741,39,10 560.905 (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.

AB741, s. 126 Section 126. 560.91 of the statutes is repealed.

AB741, s. 127 Section 127. 560.915 of the statutes is repealed.

AB741, s. 128 Section 128. 560.925 of the statutes is repealed.

AB741, s. 129 Section 129. 560.935 of the statutes is repealed.

AB741, s. 130 Section 130. Fiscal changes.

AB741,39,18 (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.

AB741,39,19 (End)