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 employees or former employees.
560.15(5)
(5) Each employee of the department, and each member of the community response committee, and each chief executive officer of a village, town or city and employees 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).
560.155
560.155
Business employees' skills training grant program. 560.155(1)(1) Subject to
sub. (2), the department may award a grant to a business if all of the following apply:
560.155(1)(a)
(a) The business is located in this state and satisfies any of the following criteria:
560.155(1)(a)2.
2. The business had no more than $2,500,000 in gross annual income in the year preceding the year in which the business receives the grant.
560.155(1)(b)
(b) The business has been in compliance with
s. 77.58 for at least 6 months before applying for the grant.
560.155(1)(c)
(c) The business agrees in writing to use the grant only to provide skills training or other education related to the needs of the business to current or prospective employees of the business.
560.155(1)(e)
(e) The business submits a plan to the department detailing the proposed use of the grant, and the secretary approves the plan.
560.155(1)(f)
(f) The business enters into a written agreement with the department that specifies the conditions for the use of the grant, including reporting and auditing requirements.
560.155(1)(g)
(g) The business agrees in writing to submit to the department the report required under
sub. (3) by the time required under
sub. (3).
560.155(2)(a)(a) The department may not award a business more than $10,000 in grants under this section.
560.155(2)(b)
(b) In awarding grants under this section, the department shall give preference to all of the following:
560.155(2)(b)1.
1. Businesses in industries with especially severe labor shortages.
560.155(2)(b)2.
2. Businesses in industries that the department determines are especially adversely affected by any federal requirements or policies.
560.155(2)(b)3.
3. Businesses that conduct economic activity in areas designated as development zones under
s. 560.71 or that conduct projects in areas designated as enterprise development zones under
s. 560.797.
560.155(2)(c)
(c) The department may not award more than $500,000 in grants under this section in fiscal year 2000-01.
560.155(2)(d)1.1. A grant under this section may not be used to pay more than 80% of the cost of any skills training or other education related to the needs of the recipient business that is provided to the owner of the business, the owner's spouse or a child of the owner.
560.155(2)(d)2.
2. A grant under this section may not be used to pay wages or compensate for lost revenue, if any, in connection with providing the training or other education, or otherwise.
560.155(3)
(3) A business that receives a grant under this section shall submit to the department, within 6 months after spending the full amount of the grant proceeds, a report detailing how the grant proceeds were used.
560.155(4)
(4) No later than January 31, 2002, the department shall submit to the legislature under
s. 13.172 (2) a report on the operation and effectiveness of the grant program under this section.
560.155 History
History: 1999 a. 177.
560.16
560.16
Employee ownership assistance grants. 560.16(1)(a)
(a) "Board" means the development finance board.
560.16(1)(b)
(b) "Business" means an employee-owned business or an existing business which is the subject of an application for a grant under this section.
560.16(1)(c)
(c) "Employee-owned business" means a business located in this state which is organized in a manner determined by the secretary to involve substantial employee participation or a cooperative organized under
ch. 185 or a corporation in which the employees own the stock of the corporation through an employee 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 employees and any employee who has stock allocated to the employee is entitled to vote;
560.16(1)(c)2.
2. Shares are voted in such a manner that the vote of the majority of employees 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 employees shall pass through to those employees, 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 employees.
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 employees 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 employee-owned business.
560.16(1)(h)
(h) "Professional services" includes, but is not limited to, accounting services, engineering studies, design assistance, architectural services, appraisal services, marketing assistance, attorney services, financial packaging and employee relations services.
560.16(2)
(2) Employee ownership assistance grants. 560.16(2)(a)(a) From the appropriations under
s. 20.143 (1) (c) and
(ie), the department may make grants to existing business groups for a feasibility study to investigate the reorganization or new incorporation of an existing business as an employee-owned business and for professional services to implement the study.
560.16(2)(b)
(b) The department may not make a grant under this section unless the board has approved the grant under this section or requested the department to make the grant under
s. 560.61 (3).
560.16(2)(c)
(c) The board may not approve a grant under this section unless the board has considered all of the following:
560.16(2)(c)1.
1. The number of employees affected by the considered or actual closing or layoff by the business.
560.16(2)(c)3.
3. The economic impact of the considered or actual closing or layoff by the business on the community, region or state.
560.16(2)(c)4.
4. A preliminary assessment of the viability of the employee-owned business or proposed employee-owned business and, in the case of a proposed employee-owned business, the potential for a successful buy out by the group.
560.16(2)(d)
(d) The board may approve a grant regardless of the number of employees laid off or to be laid off by the business or, if the business is closed, the length of time that it has been closed.
560.16(3)
(3) Grant applications. To apply for a grant under this section, a group shall submit an application to the department which includes:
560.16(3)(a)
(a) A general analysis outlining the need for a feasibility study or professional services under
sub. (2) (a), including, but not limited to, such items as the number of employees affected, the economic impact on the community of a business closing and a preliminary analysis as to the feasibility of undertaking employee ownership of the business and the potential for a successful buy out by the group.
560.16(3)(b)
(b) A petition in support of the effort signed by at least a majority of the members of the group and a list of the names and addresses of all the members of the group.
560.16(3)(c)
(c) A letter from a majority of the owners of the business indicating a preference to sell the business to the group if the study concludes that reorganization or new incorporation of the business that is the subject of the study as an employee-owned business is feasible. A group need not include a letter under this paragraph if the business is involved in bankruptcy or insolvency proceedings.
560.16(3)(d)
(d) The estimated cost and time required to conduct the feasibility study or provide the service.
560.16(3)(e)
(e) A description of the group's financial assets available to match the grant and a statement indicating the group's willingness to match the grant.
560.16(3)(f)
(f) A written commitment from a person with the recognized expertise and experience necessary to conduct the feasibility study or provide the professional services to be financed by the grant.
560.16(4)
(4) Grant limits; contract approval. 560.16(4)(a)(a) A grant to a group under this section may not exceed $15,000.
560.16(4)(b)
(b) As a condition of approval of a grant to a group under this section, the board shall require that the group provide matching funds for at least 25% of the cost of the project, except that the board may waive application of that requirement if the board determines that the group is subject to extreme financial hardship.
560.16(4)(c)
(c) Any contract for any feasibility study or professional services financed by a grant under
sub. (2) (a) shall be subject to the approval of the department. The department may not approve such a contract unless it determines that the contractor has the expertise required to provide the necessary study or services and that the contractor's costs are consistent with existing market rates.
560.16(6)(a)(a) Any feasibility study of an existing business financed by a grant under
sub. (2) (a) may include:
560.16(6)(a)1.
1. An assessment of the market value and demand for any product produced by the existing business.
560.16(6)(a)2.
2. A complete evaluation of the production costs of the existing business, including, but not limited to, labor, inventory, machinery and equipment, and the application of new technology.
560.16(6)(a)3.
3. A verified statement of the financial condition and business operation of the existing business for the previous 3 years, certified by an independent public accountant.
560.16(6)(a)4.
4. A full narrative appraisal of the fair market value of the assets of the existing business by a disinterested and qualified appraiser using all 3 commonly accepted appraisal methods.
560.16(6)(a)5.
5. A comprehensive projected business plan of the proposed employee-owned business, including the proposed organizational structure and ownership arrangements.
560.16(6)(a)6.
6. The number and type of jobs to be created or preserved by the proposed employee-owned business at its start-up and for each of the 3 subsequent years.
560.16(6)(a)7.
7. An analysis of the reasons for the closing or considered closing of the existing business.
560.16(6)(a)8.
8. A plan for implementing the feasibility study, if the study concludes that reorganization or new incorporation of the existing business as an employee-owned business is feasible.
560.16(6)(b)
(b) The results of a feasibility study of an existing business financed by a grant under
sub. (2) (a) shall be solely for the use of the group which received the grant, except that if the group's bid to purchase the business has been withdrawn, rejected or terminated, the group shall submit a copy of the study and the results of any professional services financed by the grant to the board and the board may provide a copy of such results to any person seeking to purchase the existing business.
560.165
560.165
Division of international and export development; fees. The division of international and export development may charge fees for services it provides to cover the costs incurred by the division in providing the services. The division shall deposit all fees collected under this section in the appropriation account under
s. 20.143 (1) (g).
560.165 History
History: 1997 a. 27.
560.167
560.167
Wisconsin trade project program. 560.167(1)(a)
(a) "Eligible business" means a business operating in this state that manufactures a product or performs a service, or both, with a potential to be exported and that, together with all of its affiliates and subsidiaries and its parent company, had gross annual sales of $25,000,000 or less in the calendar year preceding the year in which it applies for a reimbursement under this section.
560.167(1)(b)
(b) "Matchmaker trade delegation event" means a trade event that is planned by the U.S. department of commerce and that has prearranged meetings between new-to-market or new-to-export eligible businesses and prospective foreign representatives and distributors.
560.167(1)(c)
(c) "Trade show" means a trade event held in a country other than the United States that brings prospective foreign buyers to a central location and that is certified or coordinated by the U.S. department of commerce or the department.
560.167(2)
(2) Subject to
sub. (5), the department may make reimbursements totaling no more than $100,000 in a fiscal year from the appropriations under
s. 20.143 (1) (c) and
(ie) to eligible businesses for any of the following:
