SB434,31,2
1560.138
(5) (b) The department may forgive all or any part of a loan made under
2this section.
SB434, s. 69
3Section
69. 560.139 (3) (title) of the statutes is created to read:
SB434,31,44
560.139
(3) (title)
Grants and loans for Oneida small businesses.
SB434, s. 70
5Section
70. 560.14 (3) (c) 8. of the statutes is amended to read:
SB434,31,96
560.14
(3) (c) 8. Whether the business incubator or technology-based incubator
7is or will be located in an area that has been designated as a
development zone under 8s. 560.71, a development opportunity zone under s. 560.795
or an enterprise
9development zone under s. 560.797.
SB434, s. 71
10Section
71. 560.14 (3m) of the statutes is repealed.
SB434, s. 72
11Section
72. 560.155 (2) (b) 3. of the statutes is repealed.
SB434, s. 73
12Section
73. 560.155 (4) of the statutes is repealed.
SB434, s. 74
13Section
74. 560.155 (5) of the statutes is created to read:
SB434,31,1614
560.155
(5) In deciding whether to award a grant under this section, the
15department may not consider any factor or characteristic of the business other than
16the criteria established under subs. (1) and (2).
SB434, s. 75
17Section
75. 560.17 (5r) of the statutes is repealed.
SB434, s. 76
18Section
76. 560.17 (6m) (a) of the statutes is renumbered 560.17 (6m) and
19amended to read:
SB434,31,2220
560.17
(6m) Except as provided in par. (b), in order to To receive a grant or loan
21under this section a person or business shall contribute cash, from a source other
22than the state, in an amount that equals at least 25% of the total cost of the project.
SB434, s. 77
23Section
77. 560.17 (6m) (b) of the statutes is repealed.
SB434, s. 78
24Section
78. 560.17 (7) (a) of the statutes is amended to read:
SB434,32,7
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.
SB434, s. 79
8Section
79. 560.205 (3) (c) of the statutes is repealed.
SB434, s. 80
9Section
80. 560.29 (3) of the statutes is created to read:
SB434,32,1110
560.29
(3) Department reporting requirements. The department shall
11include in the report required under s. 560.01 (2) (am) all of the following:
SB434,32,1312
(a) The total amount of certified capital investments made, by calendar year,
13since July 1, 1999.
SB434,32,1514
(b) Statistical information on the qualified investments made by certified
15capital companies during the previous 2 calendar years.
SB434,32,1816
(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.
SB434, s. 81
19Section
81. 560.42 (5) of the statutes is repealed.
SB434, s. 82
20Section
82. 560.52 of the statutes is repealed.
SB434, s. 83
21Section
83. 560.55 of the statutes is repealed.
SB434, s. 84
22Section
84. 560.607 (2) of the statutes is repealed.
SB434, s. 85
23Section
85. Subchapter VII (title) of chapter 560 [precedes 560.80] of the
24statutes is amended to read:
SB434,32,2525
CHAPTER 560
SB434,33,3
1SUBCHAPTER VII
2
MINORITY BUSINESS
EARLY PLANNING AND DEVELOPMENT PROJECTS
3
grants and loans
SB434, s. 86
4Section
86. 560.80 (3m) of the statutes is amended to read:
SB434,33,85
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).
SB434, s. 87
9Section
87. 560.80 (4) of the statutes is amended to read:
SB434,33,1410
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).
SB434, s. 88
15Section
88. 560.80 (5) of the statutes is renumbered 560.80 (5) (intro.) and
16amended to read:
SB434,33,1917
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:
SB434, s. 89
20Section
89. 560.80 (5) (a) and (b) of the statutes are created to read:
SB434,33,2221
560.80
(5) (a) An individual who is a minority group member and a resident
22of this state.
SB434,33,2323
(b) A minority business.
SB434, s. 90
24Section
90. 560.80 (5) (c) of the statutes is created to read:
SB434,34,2
1560.80
(5) (c) A person who is eligible to receive a grant under s. 560.82 (1m)
2(d) or (e).
SB434, s. 91
3Section
91. 560.80 (5m) of the statutes is amended to read:
SB434,34,54
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).
SB434, s. 92
6Section
92. 560.81 (title) of the statutes is repealed.
SB434, s. 93
7Section
93. 560.81 (intro.) of the statutes is renumbered 560.82 (1g) and
8amended to read:
SB434,34,129
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).
SB434, s. 94
13Section
94. 560.81 (1) to (4) of the statutes are repealed.
SB434, s. 95
14Section
95. 560.82 (title) of the statutes is amended to read:
SB434,34,15
15560.82 (title)
Minority business early planning grants and loans.
SB434, s. 96
16Section
96. 560.82 (1) of the statutes is renumbered 560.82 (1m) (intro.) and
17amended to read:
SB434,34,1918
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:
SB434,34,21
20(a) Subject to s. 560.84, an eligible recipient
, as defined in s. 560.80 (5) (a), to
21fund an early planning project.
SB434, s. 97
22Section
97. 560.82 (1m) (b) and (c) of the statutes are created to read:
SB434,34,2523
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.
SB434,35,2
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.
SB434, s. 98
3Section
98. 560.82 (2) (intro.) of the statutes is amended to read:
SB434,35,74
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:
SB434, s. 99
8Section
99. 560.82 (3) (intro.) of the statutes is amended to read:
SB434,35,119
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:
SB434, s. 100
12Section
100. 560.82 (4) (intro.) of the statutes is amended to read:
SB434,35,1413
560.82
(4) (intro.)
In any fiscal biennium, the department The board may not
14do any of the following:
SB434, s. 101
15Section
101. 560.82 (4) (a) (intro.) of the statutes is amended to read:
SB434,35,1716
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:
SB434, s. 102
18Section
102. 560.82 (4) (a) 2. of the statutes is amended to read:
SB434,35,2119
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).
SB434, s. 103
22Section
103. 560.82 (4) (b) of the statutes is amended to read:
SB434,35,2523
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.
SB434, s. 104
1Section
104. 560.82 (5) (a) of the statutes is repealed.
SB434, s. 105
2Section
105. 560.82 (5) (b) of the statutes is renumbered 560.82 (5) and
3amended to read:
SB434,36,74
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.
SB434, s. 106
8Section
106. 560.83 (title) of the statutes is repealed.
SB434, s. 107
9Section
107. 560.83 (1) of the statutes is repealed.
SB434, s. 108
10Section
108. 560.83 (2) of the statutes is renumbered 560.82 (2g).
SB434, s. 109
11Section
109. 560.83 (3) of the statutes is renumbered 560.82 (2g) (c) and
12amended to read:
SB434,36,1513
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.
SB434, s. 110
16Section
110. 560.83 (4) (a) of the statutes is renumbered 560.82 (4) (c) and
17amended to read:
SB434,36,2118
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.
SB434, s. 111
22Section
111. 560.83 (4) (b) of the statutes is renumbered 560.82 (4) (d) and
23amended to read:
SB434,37,3
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.
SB434, s. 112
4Section
112. 560.83 (5) of the statutes is repealed.
SB434, s. 113
5Section
113. 560.837 (1) (intro.) of the statutes is renumbered 560.82 (1m) (d)
6(intro.) and amended to read:
SB434,37,107
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:
SB434, s. 114
11Section
114. 560.837 (1) (a) of the statutes is renumbered 560.82 (1m) (d) 1.
SB434, s. 115
12Section
115. 560.837 (1) (b) of the statutes is renumbered 560.82 (1m) (d) 2.
13and amended to read:
SB434,37,1514
560.82
(1m) (d) 2. The loans for working capital under
par. (a) 1. subd. 1. a. do
15not exceed $5,000.
SB434, s. 116
16Section
116. 560.837 (2) of the statutes is renumbered 560.82 (1m) (e).
SB434, s. 117
17Section
117. 560.84 (1) (intro.) of the statutes is amended to read:
SB434,37,2118
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:
SB434, s. 118
22Section
118. 560.84 (1) (b) 1. of the statutes is amended to read:
SB434,37,2423
560.84
(1) (b) 1. If an early planning project
under s. 560.82, that the project
24will increase employment in this state.