560.797(4)(a)(a) Subject to
par. (b), if the department approves a project plan under
sub. (3) and designates the area in which the person submitting the project plan conducts or intends to conduct the project as an enterprise development zone under the criteria under
sub. (2), the department shall certify the person as eligible for tax benefits.
560.797(4)(b)
(b) The department may certify only one person as eligible for tax benefits in an area designated as an enterprise development zone.
560.797(4)(c)
(c) When the department designates an area as an enterprise development zone for a project, the department shall notify the governing body of any city, village, town or federally recognized American Indian tribe or band in which the area is located of the area's designation.
560.797(4)(d)
(d) The department shall notify the department of revenue of all persons entitled to claim tax benefits under this section.
560.797(4)(f)
(f) The tax benefits for which a person is certified as eligible under this subsection are not transferable to another person, business or location, except to the extent permitted under section
383 of the internal revenue code.
560.797(5)(a)(a) When the department designates an area as an enterprise development zone under this section, the department shall specify the length of time, not to exceed 84 months, that the designation is effective, subject to
par. (d) and
sub. (6).
560.797(5)(b)
(b) When the department designates an area as an enterprise development zone under this section, the department shall establish a limit, not to exceed $3,000,000, for tax benefits for the enterprise development zone.
560.797(5)(c)
(c) Annually, the department shall estimate the amount of forgone state revenue because of tax benefits claimed by persons in each enterprise development zone.
560.797(5)(d)1.1. Notwithstanding the length of time specified by the department under
par. (a), the designation of an area as an enterprise development zone shall expire 90 days after the day on which the department determines that the forgone tax revenues under
par. (c) will equal or exceed the limit established for the enterprise development zone.
560.797(5)(d)2.
2. The department shall immediately notify the department of revenue and the governing body of any city, village, town or federally recognized American Indian tribe or band in which the enterprise development zone is located of a change in the expiration date of the enterprise development zone under this paragraph.
560.797(6)(a)(a) The department shall revoke the entitlement of a person to claim tax benefits under this section, and the designation of the area as an enterprise development zone shall expire, if the person does any of the following:
560.797(6)(a)1.
1. Supplies false or misleading information to obtain the tax benefits.
560.797(6)(a)2.
2. Leaves the enterprise development zone to conduct substantially the same business outside of the enterprise development zone.
560.797(6)(a)3.
3. Ceases operations in the enterprise development zone and does not renew operation of the trade or business or a similar trade or business in the enterprise development zone within 12 months.
560.797(6)(b)
(b) The department shall notify the department of revenue within 30 days after revoking an entitlement under
par. (a).
MINORITY BUSINESS EARLY PLANNING AND DEVELOPMENT PROJECTS
Subch. VII of ch. 560 Note
NOTE: 1989 Wis. Act 31, s.
3015 (1), contains legislative intent regarding subch. VII, which was created by Act 31.
560.80
560.80
Definitions. In this subchapter:
560.80(1)
(1) "Board" means the minority business development board.
560.80(2)
(2) "Development project" means the start-up of a business, or the expansion or acquisition of an existing business, that is or will be a minority business or the promotion of economic development and employment opportunities for minority group members or minority businesses.
560.80(3)
(3) "Early planning project" means the preliminary stages of considering and planning the start-up or expansion of a business that will be a minority business.
560.80(3m)
(3m) "Education and training project" means a business education and training program for minority group members and minority businesses that have received loans for working capital from an eligible recipient under
s. 560.837 (1) (b).
560.80(4)(a)(a) "Eligible development project costs" means costs that, in accordance with sound business and financial practices, are appropriately incurred in connection with a development project or a recycling development project.
560.80(4)(b)
(b) "Eligible development project costs" does not include entertainment expenses or expenses incurred before the board approves a grant or loan under
s. 560.83 or
560.835.
560.80(5m)
(5m) "Finance project" means financial assistance to a minority group member or a minority business described in
s. 560.837.
560.80(6)
(6) "Job" means a regular, nonseasonal full-time position in which an individual, as a condition of employment, is required to work at least 2,080 hours per year, including paid leave and holidays. "Job" does not include initial training before an employment position begins.
560.80(7)
(7) "Local development corporation" means any of the following:
560.80(7)(a)
(a) The elected governing body of a federally recognized American Indian tribe or band in this state or any business created by the elected governing body.
560.80(7)(b)
(b) A corporation organized under
ch. 181 that is a nonprofit corporation as defined in
s. 181.0103 (17), that is at least 51% controlled and actively managed by minority group members and that does all of the following:
560.80(7)(b)1.
1. Operates primarily within specific geographic boundaries.
560.80(7)(b)2.
2. Promotes economic development and employment opportunities for minority group members or minority businesses within the specific geographic area.
560.80(7)(b)3.
3. Demonstrates a commitment to or experience in promoting economic development and employment opportunities for minority group members or minority businesses.
560.80(8)
(8) "Minority business" means a minority business, as defined in
s. 560.036 (1) (e), that has its principal place of business in this state.
560.80(10)
(10) "New minority business" means a minority business started as a result of an early planning project.
560.80(11)
(11) "Project" means a development project, a recycling development project, an early planning project, a finance project, an education and training project or a revolving fund project.
560.81
560.81
Minority business grants and loans. The department shall make a grant or loan to an eligible recipient or local development corporation under this subchapter if any of the following apply:
560.81(2)
(2) The board awards a grant or loan to the eligible recipient or local development corporation under
ss. 560.83 (1) and
560.84 or to the eligible recipient under
ss. 560.835 and
560.84.
560.81(4)
(4) The board awards a grant to the eligible recipient under
s. 560.837.
560.82
560.82
Minority business early planning grants. 560.82(1)(1) Subject to
s. 560.84, the department may award a grant under this section to an eligible recipient to fund an early planning project.
560.82(2)
(2) The department may not award a grant under
sub. (1) or
s. 560.835 (6) unless the eligible recipient submits an application, in a form required by the department, that contains or describes all of the following:
560.82(2)(a)
(a) Potential locations of the new minority business.
560.82(2)(b)
(b) The ownership structure of the new minority business.
560.82(2)(c)
(c) The product or service provided by the new minority business.
560.82(2)(d)
(d) The market for the product or service described in
par. (c).
560.82(2)(f)
(f) Any competitive advantages of the new minority business.
560.82(2)(g)
(g) The eligible recipient's estimate of the gross revenue of the new minority business over a period specified by the department.
560.82(2)(h)
(h) The process for manufacturing the product, or providing the services, of the new minority business.
560.82(2)(i)
(i) An estimate of the number of jobs that will be created by the new minority business.
560.82(2)(j)
(j) The eligible recipient's experience and training.
560.82(2)(k)
(k) The eligible recipient's estimate of the profit that will be generated by the new minority business over a period specified by the department.
560.82(2)(L)
(L) The eligible recipient's estimate of the capital required to complete the early planning project.
560.82(2)(m)
(m) Potential sources of financing for the early planning project.
560.82(2)(n)
(n) Any other information that the department requests.
560.82(3)
(3) An eligible recipient who receives a grant under
sub. (1) or
s. 560.835 (6) may only use the proceeds of the grant for the following purposes:
560.82(4)
(4) In any fiscal biennium, the department may not do any of the following:
560.82(4)(a)
(a) Award in a fiscal biennium, for grants under
sub. (1), more than 25% of the total of all of the following:
560.82(4)(a)2.
2. The lesser of the funds received in a fiscal biennium in repayment of grants or loans under
s. 560.83 or the funds appropriated for the fiscal biennium under
s. 20.143 (1) (im).
560.82(4)(b)
(b) Award, to any one eligible recipient or for any one early planning project, grants under
sub. (1) or
s. 560.835 (6) that total more than $15,000.
560.82(5)
(5) The department may only award grants under
sub. (1) or
s. 560.835 (6) to individuals who are minority group members and residents of this state.
560.83
560.83
Minority business development and revolving fund grants and loans. 560.83(1)
(1) Subject to
s. 560.84, the board may award a grant or loan under this subsection to an eligible recipient or a local development corporation to fund eligible development project costs.
560.83(2)
(2) The board may award a grant or loan under this subsection to a local development corporation if all of the following apply:
560.83(2)(a)
(a) The local development corporation agrees to use the proceeds of grants or loans under this section for any of the following:
560.83(2)(a)1.
1. To make grants or loans not exceeding $50,000 each to eligible recipients to fund eligible development project costs.
560.83(2)(a)2.
2. To create, expand or continue a revolving fund program that is operated by the local development corporation and that benefits or will benefit minority businesses or minority group members who are residents of this state.
560.83(3)
(3) 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.
