SB40: Bill Text

SB40,1579,5 (4) Annually, the emerging industries development corporation shall provide a report on its activities to the governor.

SB40,1579,13 (5) The assets transferred to, and the assets and liabilities of, the emerging industries development corporation shall be separate from all other assets and liabilities of the state, of all political subdivisions of the state, and of the department. Neither the state, any political subdivision of the state, nor the department guarantees any obligation of or has any obligation to the emerging industries development corporation. Neither the state, any political subdivision of the state, nor the department is liable for any debt or liability of the emerging industries development corporation.

SB40, s. 3577 Section 3577. 560.204 of the statutes is created to read:

SB40,1579,18 560.204 Hardware and software used to maintain medical records. (1) The department shall implement a program to certify health care providers as eligible for the electronic medical records credit under ss. 71.07 (5i), 71.28 (5i), and 71.47 (5i).

SB40,1579,22 (2) If the department certifies a health care provider under sub. (1), the department shall determine the amount of credits to allocate to the health care provider. The total amount of electronic medical records credits allocated to health care providers in any year may not exceed $10,000,000.

SB40,1579,25 (3) The department shall inform the department of revenue of every health care provider certified under sub. (1) and the amount of credits allocated to the health care provider.

SB40,1580,2 (4) The department, in consultation with the department of revenue, shall promulgate rules to administer this section.

SB40, s. 3578 Section 3578. 560.205 (3) (d) of the statutes is amended to read:

SB40,1580,18 560.205 (3) (d) Rules. The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section. The rules shall further define "bona fide angel investment" for purposes of s. 71.07 (5d) (a) 1. The rules shall limit the aggregate amount of tax credits under s. 71.07 (5d) that may be claimed for investments in businesses certified under sub. (1) at $3,000,000 per calendar year for calendar years beginning after December 31, 2004 . The, and $5,500,000 per calendar year for calendar years beginning after December 31, 2007. The rules shall also limit the aggregate amount of the tax credits under ss. 71.07 (5b), 71.28 (5b), and 71.47 (5b) that may be claimed for investments paid to fund managers certified under sub. (2) at $3,500,000 per calendar year for calendar years beginning after December 31, 2004, and $6,000,000 per calendar year for calendar years beginning after December 31, 2007. The rules shall also provide that, for calendar years beginning after December 31, 2007, no person may receive a credit under ss. 71.07 (5b) and (5d), 71.28 (5b), or 71.47 (5b) unless the person's investment is kept in a certified business, or with a certified fund manager, for no less than 3 years.

SB40, s. 3579 Section 3579. 560.251 of the statutes is created to read:

SB40,1580,25 560.251 Manufacturing technology grants. (1) The department may make a grant from the appropriation under s. 20.143 (1) (c) or (ie) to a technology-based nonprofit organization, as defined in s. 560.25 (1) (d), to provide funding to assist manufacturers in this state in the adoption of manufacturing process improvements that result in the production of more goods of higher quality with less effort if all of the following apply:

SB40,1581,3 (a) The technology-based nonprofit organization submits to the department a plan detailing its proposed expenditures and performance measures related to the project.

SB40,1581,4 (b) The secretary approves the plan submitted under par. (a).

SB40,1581,6 (2) The department may not award in a fiscal biennium more than $1,500,000 in grants under this section.

SB40, s. 3580 Section 3580. 560.26 of the statutes is repealed.

SB40, s. 3581 Section 3581. 560.275 (4) (e) of the statutes is amended to read:

SB40,1581,11 560.275 (4) (e) Entrepreneurial and technology transfer grants. The total amount of grants under sub. (2) (e) may not exceed $500,000 $600,000 in any fiscal year.

SB40, s. 3582 Section 3582. 560.60 (1m) of the statutes is repealed.

SB40, s. 3583 Section 3583. 560.60 (1v) of the statutes is repealed.

SB40, s. 3584 Section 3584. 560.60 (3) of the statutes is repealed.

SB40, s. 3585 Section 3585. 560.60 (3m) of the statutes is created to read:

SB40,1581,16 560.60 (3m) "Eligible activities" means any of the following:

SB40,1581,17 (a) Capital financing.

SB40,1581,18 (b) Worker training.

SB40,1581,19 (c) Entrepreneurial development.

SB40,1581,21 (d) Providing assistance to technology-based businesses or to businesses at a foreign trade show or event.

SB40,1581,22 (e) Promoting urban or regional economic development.

SB40,1581,23 (f) Establishing revolving loan funds.

SB40,1581,24 (g) Providing working capital.

SB40,1581,25 (h) Promoting employee ownership through all of the following:

SB40,1582,2 1. Conducting feasibility studies to investigate the reorganization or new incorporation of existing businesses as employee-owned businesses.

SB40,1582,3 2. Implementing feasibility studies under subd. 1.

SB40, s. 3586 Section 3586. 560.60 (4) of the statutes is amended to read:

SB40,1582,7 560.60 (4) "Eligible recipient" means a governing body or a person who is eligible to receive a grant or loan under s. 560.62, a grant or loan under s. 560.63 or a grant or loan under s. 560.65 560.61.

SB40, s. 3587 Section 3587. 560.60 (8) of the statutes is repealed.

SB40, s. 3588 Section 3588. 560.60 (10) of the statutes is repealed.

SB40, s. 3589 Section 3589. 560.60 (11) of the statutes is repealed.

SB40, s. 3590 Section 3590. 560.60 (13) of the statutes is repealed.

SB40, s. 3591 Section 3591. 560.60 (15) of the statutes is amended to read:

SB40,1582,15 560.60 (15) "Small business" means a business operating for profit, with 250 or fewer than 100 employees, including employees of any subsidiary or affiliated organization.

SB40, s. 3592 Section 3592. 560.60 (17) of the statutes is repealed.

SB40, s. 3593 Section 3593. 560.60 (18m) of the statutes is repealed.

SB40, s. 3594 Section 3594. 560.605 (1) (intro.) of the statutes is amended to read:

SB40,1582,23 560.605 (1) (intro.) The Upon receipt of an application by an eligible recipient, the board may consider any of the following in determining whether to award a grant or loan under s. 560.61 upon the receipt and consideration of an application by an eligible recipient for a project under ss. 560.62 to 560.66, if the board determines all of the following:

SB40, s. 3595 Section 3595. 560.605 (1) (a) of the statutes is amended to read:

SB40,1582,25 560.605 (1) (a) The Whether the project serves a public purpose.

SB40, s. 3596 Section 3596. 560.605 (1) (b) of the statutes is amended to read:

SB40,1583,3 560.605 (1) (b) The Whether the project will retain or increase employment in this state.

SB40, s. 3597 Section 3597. 560.605 (1) (c) of the statutes is amended to read:

SB40,1583,6 560.605 (1) (c) The Whether the project is not likely to might not occur without the grant or loan.

SB40, s. 3598 Section 3598. 560.605 (1) (d) of the statutes is amended to read:

SB40,1583,9 560.605 (1) (d) Financing Whether financing is unavailable available from any other another source on reasonably equivalent terms.

SB40, s. 3599 Section 3599. 560.605 (1) (e) of the statutes is amended to read:

SB40,1583,14 560.605 (1) (e) Except as provided in s. 560.68 (6), the eligible recipient receiving the grant or loan will contribute, from The extent to which the project will be financed with funds not provided by this state, not less than 25% of the cost of the project.

SB40, s. 3600 Section 3600. 560.605 (1) (f) of the statutes is repealed.

SB40, s. 3601 Section 3601. 560.605 (1) (g) of the statutes is amended to read:

SB40,1583,19 560.605 (1) (g) Funds Whether funds from the grant or loan under s. 560.62, 560.63, 560.65 or 560.66 will not be used to pay overhead costs, except as provided in s. 560.65 (1m) (b), or to replace funds from any other another source.

SB40, s. 3602 Section 3602. 560.605 (1) (h) of the statutes is amended to read:

SB40,1583,22 560.605 (1) (h) The Whether the project will not displace any workers in this state.

SB40, s. 3603 Section 3603. 560.605 (1) (i) of the statutes is repealed.

SB40, s. 3604 Section 3604. 560.605 (1) (p) of the statutes is amended to read:

SB40,1584,3 560.605 (1) (p) For an ethanol production facility on which construction begins after July 27, 2005, whether a competitive bidding process is used for the construction of the ethanol production facility.

SB40, s. 3605 Section 3605. 560.605 (2) (intro.) of the statutes is repealed.

SB40, s. 3606 Section 3606. 560.605 (2) (a) of the statutes is renumbered 560.605 (1) (j).

SB40, s. 3607 Section 3607. 560.605 (2) (b) of the statutes is renumbered 560.605 (1) (k).

SB40, s. 3608 Section 3608. 560.605 (2) (c) of the statutes is renumbered 560.605 (1) (L).

SB40, s. 3609 Section 3609. 560.605 (2) (d) of the statutes is renumbered 560.605 (1) (m) and amended to read:

SB40,1584,10 560.605 (1) (m) The financial soundness of the business eligible recipient.

SB40, s. 3610 Section 3610. 560.605 (2) (e) of the statutes is renumbered 560.605 (1) (n).

SB40, s. 3611 Section 3611. 560.605 (2) (f) of the statutes is renumbered 560.605 (1) (o).

SB40, s. 3612 Section 3612. 560.605 (2m) (intro.) of the statutes is amended to read:

SB40,1584,16 560.605 (2m) (intro.) When considering whether a project under s. 560.62, 560.63 or 560.66 will be located in a targeted area, the board shall may consider all any of the following:

SB40, s. 3613 Section 3613. 560.605 (2m) (c) of the statutes is repealed.

SB40, s. 3614 Section 3614. 560.605 (2m) (d) of the statutes is repealed.

SB40, s. 3615 Section 3615. 560.605 (2m) (e) of the statutes is repealed.

SB40, s. 3616 Section 3616. 560.605 (4) of the statutes is repealed.

SB40, s. 3617 Section 3617. 560.605 (5) of the statutes is repealed.

SB40, s. 3618 Section 3618. 560.605 (5m) of the statutes is repealed.

SB40, s. 3619 Section 3619. 560.605 (6) of the statutes is repealed.

SB40, s. 3620 Section 3620. 560.607 (intro.) of the statutes is amended to read:

SB40,1585,4 560.607 Miscellaneous and administrative expenditures. (intro.) In each biennium, the department may expend or encumber up to a total of 1% of the moneys appropriated under s. 20.143 (1) (c) and (tm) for that biennium for any of the following:

SB40, s. 3621 Section 3621. 560.607 (1) of the statutes is amended to read:

SB40,1585,7 560.607 (1) Evaluations of proposed technical research projects under s. 560.62.

SB40, s. 3622 Section 3622. 560.61 (intro.) and (1) of the statutes are consolidated, renumbered 560.61 and amended to read:

SB40,1585,14 560.61 Wisconsin development fund. At the request of the board, the department shall do all of the following: (1) Make may 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, 560.63, 560.65 or 560.66, whichever is appropriate, from the appropriations under s. 20.143 (1) (c) and, (ie), and (tm) for eligible activities.

SB40, s. 3623 Section 3623. 560.61 (3) of the statutes is repealed.

SB40, s. 3624 Section 3624. 560.62 of the statutes is repealed.

SB40, s. 3625 Section 3625. 560.63 of the statutes is repealed.