560.14(4)(a)7.
7. The applicants provide documentation of the contributions required under
subd. 5.
560.14(4)(b)
(b) For grants under this subsection, the department may not award in any fiscal year more than the greater of $100,000 or 10% of the amount appropriated for the fiscal year under
s. 20.143 (1) (fg).
560.14(4m)(a)(a) Subject to
par. (b), the department may make a grant under this subsection from the appropriation under
s. 20.143 (1) (fg) to a community-based organization or private nonprofit organization for a venture capital development conference if all of the following apply:
560.14(4m)(a)1.
1. The conference will assist entrepreneurs or businesses in the state in obtaining capital for the start-up or development of a business.
560.14(4m)(a)2.
2. The conference will likely stimulate investment, promote economic development or create or retain jobs in the state.
560.14(4m)(a)3.
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 conferences or programs, including any conferences or programs of the department.
560.14(4m)(a)5.
5. The grant applicant funds at least 50% of the total cost of the conference by providing cash or in-kind contributions.
560.14(4m)(b)
(b) The department may not award more than $75,000 in grants under this subsection in any fiscal year.
560.14(5)
(5) The department shall do all of the following:
560.14(5)(a)
(a) Develop an application to be used for grants under this section and furnish the application to applicants upon request.
560.14(5)(b)
(b) Subject to
par. (d), promulgate rules to develop criteria for evaluating applications for grants under this section.
560.14(5)(bm)
(bm) Promulgate rules with respect to how the department will administer the grants under this section.
560.14(5)(c)
(c) Consistent with
subs. (2) to
(4m), award grants under this section on a competitive basis, using the criteria developed under
par. (b).
560.14(5)(d)
(d) Give priority for grants under this section for projects related to brownfields redevelopment.
560.145
560.145
Revolving loan fund capitalization. 560.145(1)(1)
Grants. Subject to
sub. (3), the department may make a grant to a person from the appropriation under
s. 20.143 (1) (c) for the capitalization of a revolving loan fund if all of the following apply:
560.145(1)(a)
(a) The purpose of the revolving loan fund is to promote local or regional economic development.
560.145(1)(b)
(b) The person submits a plan to the department detailing the proposed use of the grant and the secretary approves the plan.
560.145(1)(c)
(c) The person enters into a written agreement with the department that specifies the conditions for use of the grant proceeds, including reporting and auditing requirements.
560.145(1)(d)
(d) The person agrees in writing to submit to the department the report required under
sub. (2) by the time required under
sub. (2).
560.145(2)
(2) Report on use of proceeds. A person receiving a grant under this section shall submit to the department, within 6 months after spending the full amount of the grant, a report detailing how the grant proceeds were used.
560.145(3)
(3) Limit on grants. The department may not award in a fiscal biennium more than $500,000 in grants under this section.
560.145 History
History: 1997 a. 237.
560.147
560.147
Rapid response fund. 560.147(1)(1)
Loans. Subject to
sub. (4), the department may make a loan to a person from the appropriations under
s. 20.143 (1) (c) and
(ie) for a project described in
sub. (2) if all of the following apply:
560.147(1)(a)
(a) The person submits a plan to the department detailing the proposed use of the loan and the secretary approves the plan.
560.147(1)(b)
(b) The person enters into a written agreement with the department that specifies the conditions for use of the loan proceeds, including reporting and auditing requirements, and the loan repayment terms.
560.147(1)(c)
(c) The person agrees in writing to submit to the department the report required under
sub. (3) by the time required under
sub. (3).
560.147(1)(d)
(d) The person contributes, from funds not provided by the state, not less than 25% of the cost of the project.
560.147(1)(e)
(e) The amount that the person contributes under
par. (d) does not exceed $250,000.
560.147(2)(a)(a) Loans under this section may be used only for any of the following purposes:
560.147(2)(a)2.
2. The purchase of land, an existing building, machinery or equipment.
560.147(2)(b)
(b) The purpose of the renovation, purchase or construction under
par. (a) must be to foster economic development in the area of the project.
560.147(3)
(3) Report on use of proceeds. A person receiving a loan under this section shall submit to the department, within 6 months after spending the full amount of the loan, a report detailing how the loan proceeds were used.
560.147(4)
(4) Limit on loans. The department may not award in a fiscal biennium more than $2,000,000 in loans under this section.
560.147(5)
(5) Deposit of repayments. The department shall deposit in the appropriation account under
s. 20.143 (1) (ie) all moneys received in repayment of loans under this section.
560.147 History
History: 1997 a. 237.
560.15
560.15
Economic adjustment program. 560.15(1)
(1) The department, with the advice and assistance of the community response committees created under
sub. (3), and in cooperation with the department of workforce development, shall perform the responsibilities under
sub. (2) if the following conditions are met:
560.15(1)(a)
(a) A business, regardless of its size or form of organization, is considering ceasing its operations or has decided to cease its operations or has ceased its operations at any place of business located in this state; is considering laying off or has decided to lay off or has laid off, whether permanently or temporarily, any of its employes at any place of business located in this state.
560.15(1)(b)
(b) The department has received notification of an act by a business under
par. (a) from any of the following:
560.15(1)(b)4.
4. An employe of the business or a former employe laid off by an act under
par. (a).
560.15(1)(b)6.
6. A small business development center of the university of Wisconsin system.
560.15(1)(b)7.
7. A faculty member of the university of Wisconsin-extension.
560.15(1)(b)8.
8. An economic development coordinator of a technical college.
560.15(2)
(2) Upon notification of an act by a business under
sub. (1), the department shall provide assistance, or provide referrals to other persons or arrange and coordinate assistance from other persons, including federal, state or local governmental units, agencies or programs, other businesses, service organizations, educational institutions and financial institutions, to the following persons for the following purposes and upon the following conditions:
560.15(2)(a)
(a) A business which has performed an act under
sub. (1) (a), for the purpose of enabling continued or renewed operation of the business or avoiding or rescinding temporary or permanent layoffs, if the business requests or chooses to accept the assistance of the department.
560.15(2)(b)
(b) One or more employes of a business, or former employes laid off by an act under
sub. (1) (a), if the business has performed an act under
sub. (1) (a), for the purpose of retraining the employes or former employes, matching their skills with jobs for other employers or accomplishing the transfer of ownership, control or management of a business which has decided to or has ceased operations to employes or former employes, members of the community or others, if one or more employes or former employes request or choose to accept the assistance of the department.
560.15(2)(c)
(c) A business or one or more employes of a business or former employes laid off by an act under
sub. (1) (a), if the business has performed an act under
sub. (1) (a), for any of the purposes set forth in
pars. (a) and
(b), if the business and one or more employes or former employes request or choose to accept the assistance of the department.
560.15(2)(d)
(d) A business or one or more former employes of a business laid off by an act under
sub. (1) (a) or one or more employes of a business, if the business has performed an act under
sub. (1) (a), for the purpose of informing the business, former employes or employes of their rights and opportunities under
s. 560.16.
560.15(3)(a)(a) If a business, or one or more employes of a business or former employes laid off by an act under
sub. (1) (a), request or accept assistance under
sub. (2), the department shall send written notice thereof to the chief executive officer of the village, town or city where the business has or had its place of business.
560.15(3)(b)
(b) A chief executive officer receiving notification under
par. (a), after consultation with the business affected, may create a community response committee which shall consist of the following members to be appointed by and serve at the pleasure of the chief executive officer:
560.15(3)(b)1.
1. A representative from the business if the business requests or accepts assistance under
sub. (2).
560.15(3)(b)2.
2. A representative from the employes of the business or former employes laid off by an act under
sub. (1) (a), if one or more employes or former employes request or accept assistance under
sub. (2).
560.15(3)(b)3.
3. A representative from the village, town, city or county where the business has or had its place of business.
560.15(3)(b)4.
4. A representative from a local economic development organization.
560.15(3)(c)
(c) A committee created under
par. (b) may appoint additional members to serve at the pleasure of the committee, or may otherwise request assistance from any persons, including representatives from any of the following:
560.15(3)(c)2.
2. A local campus of the university of Wisconsin system.
560.15(3)(c)3.
3. A county office of the university of Wisconsin-extension.
560.15(3)(c)5.
5. A regional small business development center of the university of Wisconsin system.
560.15(3)(c)6.
6. A district office of the department of workforce development.
560.15(3)(d)
(d) Each community response committee shall advise and assist the department in the performance of its responsibilities under this section.
560.15(4)
(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.
560.15(5)
(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. 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).
560.16
560.16
Employe ownership assistance grants. 560.16(1)(a)
(a) "Board" means the development finance board.
560.16(1)(b)
(b) "Business" means an employe-owned business or an existing business which is the subject of an application for a grant under this section.
560.16(1)(c)
(c) "Employe-owned business" means a business located in this state which is organized in a manner determined by the secretary to involve substantial employe participation or a cooperative organized under
ch. 185 or a corporation in which the employes own the stock of the corporation through an employe stock ownership plan as defined under
26 USC 4975 (e) (7) and in which:
560.16(1)(c)1.
1. A majority of the voting rights are held by employes and any employe who has stock allocated to the employe is entitled to vote;
560.16(1)(c)2.
2. Shares are voted in such a manner that the vote of the majority of employes controls the vote of the majority of shares;
560.16(1)(c)3.
3. Voting rights on corporate matters for shares held in a trust for the employes shall pass through to those employes, at least to the extent required by the pass-through voting requirements under
26 USC 409A (e); and
560.16(1)(c)4.
4. The majority of the members of the board of directors are elected by the employes.
560.16(1)(e)
(e) "Existing business" means the assets of any business that is located in this state and that is operating or has ceased operating.
560.16(1)(f)
(f) "Existing business group" means a group formed by or on behalf of the current or former employes of an existing business that is considering layoffs or a closing or that has experienced layoffs or a closing for the purpose of determining the feasibility of assuming ownership or control of the existing business and operating it as an employe-owned business.
