560.19(2)(b)3. 3. The potential for others to use the information gained from a pollution prevention assessment.
560.19(3) (3) In coordination with the solid and hazardous waste education center under s. 36.25 (30) and the department of natural resources, the department shall conduct an education, environmental management and technical assistance program to promote pollution prevention among businesses in the state.
560.205 560.205 Early stage business investment program.
560.205(1)(1)Angel investment tax credits. The department shall implement a program to certify businesses for purposes of s. 71.07 (5d). A business desiring certification shall submit an application to the department in each taxable year for which the business desires certification. Unless otherwise provided under the rules of the department, a business may be certified under this subsection, and may maintain such certification, only if the business satisfies all of the following conditions:
560.205(1)(a) (a) It has its headquarters in this state.
560.205(1)(b) (b) At least 51 percent of the employees employed by the business are employed in this state.
560.205(1)(f) (f) It is engaged in, or has committed to engage in, manufacturing, agriculture, or processing or assembling products and conducting research and development or developing a new product or business process.
560.205(1)(g) (g) It is not engaged in real estate development, insurance, banking, lending, lobbying, political consulting, professional services provided by attorneys, accountants, business consultants, physicians, or health care consultants, wholesale or retail trade, leisure, hospitality, transportation, or construction.
560.205(1)(h) (h) It has less than 100 employees.
560.205(1)(j) (j) It has been in operation in this state for not more than 7 consecutive years.
560.205(1)(k) (k) It has not received more than $1,000,000 in investments that have qualified for tax credits under s. 71.07 (5d).
560.205(2) (2)Early stage seed investment tax credits. The department shall implement a program to certify investment fund managers for purposes of ss. 71.07 (5b), 71.28 (5b), and 71.47 (5b). An investment fund manager desiring certification shall submit an application to the department. In determining whether to certify an investment fund manager, the department shall consider the investment fund manager's experience in managing venture capital funds, the past performance of investment funds managed by the applicant, the expected level of investment in the investment fund to be managed by the applicant, and any other relevant factors. The department may certify only investment fund managers that commit to consider placing investments in businesses certified under sub. (1).
560.205(3) (3)Administration.
560.205(3)(a)(a) List of certified businesses and investment fund managers. The department shall maintain a list of businesses certified under sub. (1) and investment fund managers certified under sub. (2) and shall permit public access to the lists through the department's Internet website.
560.205(3)(b) (b) Notification of department of revenue. The department of commerce shall notify the department of revenue of every certification issued under sub. (1) and (2) and the date on which any such certification is revoked or expires.
560.205(3)(c) (c) Annual report. Annually, no later than September 15, the department shall submit a report to the chief clerk of each house of the legislature for distribution to the legislature under s. 13.172 (2), listing all of the following information:
560.205(3)(c)1. 1. The total amount of tax credits claimed under ss. 71.07 (5b) and (5d), 71.28 (5b), and 71.47 (5b) per taxable year.
560.205(3)(c)2. 2. The name of each business in which investments qualifying for such tax credits were made, the amount of such tax credits, and the amount of such investments.
560.205(3)(c)3. 3. Any other information the department considers reasonable to include.
560.205(3)(d) (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 taxable year for taxable years beginning after December 31, 2004. 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 taxable year for taxable years beginning after December 31, 2004.
560.205 History History: 2003 a. 255.
560.21 560.21 General fund deposit.
560.21(1) (1) In this section:
560.21(1)(a) (a) "Community development finance company" has the meaning given in s. 234.94 (3).
560.21(1)(b) (b) "Equity investment" means the purchase of common or preferred capital stock or the purchase of an option or other right to acquire common or preferred capital stock.
560.21(2) (2) The department shall deposit in the general fund all interest and principal received in repayment of loans under s. 560.20 (3), 1999 stats., any proceeds from equity investments made by the community development finance company under s. 234.965, 1991 stats., that are received by the department or the community development finance company, and any unencumbered grant funds returned to the department under 1993 Wisconsin Act 437, section 9115 (1t).
560.21(3) (3) The community development finance company shall transfer to the department any proceeds that the company receives from equity investments made by the community development finance company under s. 234.965, 1991 stats.
560.21 History History: 2001 a. 109 ss. 481, 482, 498, 503, 504.
560.25 560.25 Manufacturing extension center grants.
560.25(1)(1)Definitions. In this section:
560.25(1)(a) (a) "Biotechnology" means technology related to life sciences.
560.25(1)(b) (b) "Business" means a company located in this state, a company that has made a firm commitment to locate a facility in this state or a group of companies at least 80% of which are located in this state.
560.25(1)(c) (c) "Technology" includes biotechnology.
560.25(1)(d) (d) "Technology-based nonprofit organization" means a nonprofit corporation, as defined in s. 181.0103 (17), or an organization described in section 501 (c) (3) of the Internal Revenue Code that is exempt from federal income tax under section 501 (a) of the Internal Revenue Code, and that has as a mission the transfer of technology to businesses in this state.
560.25(2) (2)Grants. Subject to sub. (4), the department may make a grant from the appropriation under s. 20.143 (1) (fj) to a technology-based nonprofit organization to provide support for a manufacturing extension center if all of the following apply:
560.25(2)(a) (a) The technology-based nonprofit organization submits to the department a plan detailing its proposed expenditures and performance measures related to the project.
560.25(2)(b) (b) The secretary approves the plan submitted under par. (a).
560.25(4) (4)Limit on grants. Beginning with fiscal year 2004-05, the department may award $1,500,000 in grants under this section in each fiscal year.
560.25 History History: 1999 a. 9; 2001 a. 16; 2003 a. 33, 256.
560.26 560.26 Wisconsin Procurement Institute grants.
560.26(1)(1) Subject to sub. (3), the department shall make grants from the appropriation under s. 20.143 (1) (c) to the Wisconsin Procurement Institute if all of the following apply:
560.26(1)(a) (a) The Wisconsin Procurement Institute uses the grant proceeds to further its efforts to secure federal government contracts and create jobs in the state.
560.26(1)(b) (b) The Wisconsin Procurement Institute submits a plan to the department for each grant detailing the proposed use of the grant and the secretary approves the plan.
560.26(1)(c) (c) The Wisconsin Procurement Institute enters into a written agreement with the department that specifies the conditions for use of the grant proceeds, including reporting and auditing requirements.
560.26(1)(d) (d) The Wisconsin Procurement Institute agrees in writing to submit to the department the report required under sub. (2) by the time required under sub. (2).
560.26(2) (2) If the Wisconsin Procurement Institute receives a grant under this section, it 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.
560.26(3) (3) The department may not make grants under sub. (1) that exceed $100,000 in total.
560.26 History History: 1999 a. 9.
560.27 560.27 High-technology business development corporation.
560.27(1)(1)
560.27(1)(a)(a) The department shall organize and assist in maintaining a high-technology business development corporation as a nonstock, nonprofit corporation under ch. 181 for the exclusive purpose of promoting and supporting the creation, development and retention of science-based and technology-based businesses in the state. In furtherance of its purpose, the corporation shall establish and implement programs focused on key elements necessary for the success of high-technology firms, including entrepreneurs, businesses, professional services, seed and venture capital, universities and state government.
560.27(1)(b) (b) From the appropriation under s. 20.143 (1) (d), the department shall make a one-time grant of $50,000 in fiscal year 2000-01 to the high-technology business development corporation for start-up capital and reasonable administrative expenses of the corporation.
560.27(2) (2)
560.27(2)(a)(a) The high-technology business development corporation shall be governed by a board of directors, consisting of the secretary, or his or her designee, the president of the University of Wisconsin System, or his or her designee, the director of the technical college system board, or his or her designee, the president of the Wisconsin Association of Independent Colleges and Universities, or his or her designee, and at least 11 other members, one or more of whom represents each of the following categories:
560.27(2)(a)1. 1. Entrepreneurs in the state.
560.27(2)(a)2. 2. High-technology businesses in the state.
560.27(2)(a)3. 3. The state's venture capital industry.
560.27(2)(a)4. 4. The state's investment banking industry.
560.27(2)(a)5. 5. Local governments in the state.
560.27(2)(a)6. 6. The state's business development community.
560.27(2)(a)7. 7. Professionals in the state who are experienced in providing services to persons specified in subds. 1. to 6.
560.27(2)(b) (b) The members who are representatives of the categories under par. (a) 1. to 7. shall serve 5-year terms. Of the initial members who are representatives of the categories under par. (a) 1. to 7., one shall be appointed by the senate majority leader, one shall be appointed by the speaker of the assembly, one shall be appointed by the senate minority leader, one shall be appointed by the assembly minority leader and at least 7 shall be appointed by the governor. The high-technology business development corporation, in its bylaws, shall specify the method for electing new members who are representatives of the categories under par. (a) 1. to 7. and for filling vacancies.
560.27(3) (3)
560.27(3)(a)(a) Subject to par. (c), the department may make a grant to the high-technology business development corporation, from the appropriation under s. 20.143 (1) (d), if all of the following apply:
560.27(3)(a)1. 1. The corporation submits an expenditure plan to the department detailing the proposed use of the grant proceeds and the secretary approves the plan.
560.27(3)(a)2. 2. The corporation enters into a written agreement with the department that specifies the conditions for the use of the grant proceeds, including reporting and auditing requirements.
560.27(3)(a)3. 3. The corporation provides matching funds equal to 50% of the grant proceeds.
560.27(3)(a)4. 4. The corporation provides to the department information requested by the department about private funding the corporation has received or will receive for the purposes detailed in the expenditure plan under subd. 1.
560.27(3)(a)5. 5. The corporation agrees in writing to submit to the department the report required by par. (b) by the time required under par. (b).
560.27(3)(b) (b) If the corporation receives a grant under this subsection, the corporation 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.
560.27(3)(c) (c) The department may not make grants under this subsection that exceed $200,000 in total in fiscal year 2000-01, or that exceed $250,000 in total in any fiscal year thereafter.
560.27(4) (4) Annually, the high-technology business development corporation shall provide a report on its activities to the appropriate standing committees of each house of the legislature in the manner provided under s. 13.172 (3) and to the governor.
560.27(5) (5) The assets transferred to, and the assets and liabilities of, the high-technology business 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 high-technology business development corporation. Neither the state, any political subdivision of the state nor the department is liable for any debt or liability of the high-technology business development corporation.
560.27 History History: 1999 a. 106.
560.275 560.275 Technology commercialization grant and loan program.
560.275(1)(1)Definition. In this section, "Project costs" means the total cost of a project financed, at least in part, by a grant or loan under sub. (2), calculated as provided by rule of the department.
560.275(2) (2)Authorized grants and loans.
560.275(2)(a)(a) Early stage planning grants and loans. The department may make a grant or loan from the appropriation under s. 20.143 (1) (dk) or (ik) for the purpose of funding professional services related to completing an application to be submitted to the federal government for the purpose of obtaining early stage research and development funding or for the purpose of funding professional services that are required to accomplish specific tasks established as a condition of receiving early stage financing from 3rd parties that is necessary for business development.
560.275(2)(b) (b) Matching grants and loans.
560.275(2)(b)1.1. The department may make a grant or loan from the appropriation under s. 20.143 (1) (dk) or (ik) for the purpose of funding professional services related to developing a proposed technologically innovative product, process, or service, if the applicant has received a grant from the federal government for a substantially similar purpose.
560.275(2)(b)2. 2. The department may make a grant or loan from the appropriation under s. 20.143 (1) (dk) or (ik) for the purpose of funding professional services related to the accelerated commercialization of a technologically innovative product, process, or service, if the federal government has notified the applicant that the applicant will receive a grant from the federal government for a substantially similar purpose.
560.275(2)(c) (c) Bridge grants and loans. The department may make a grant or loan from the appropriation under s. 20.143 (1) (dk) or (ik) to a person who has received early stage financing from 3rd parties or a grant from the federal government to fund early stage research and development and who has sought additional early stage financing from 3rd parties or applied for an additional grant from the federal government to fund early stage research and development. A grant or loan under this paragraph shall be for the purpose of funding professional services necessary to maintain the project research and management team and funding basic operations until the applicant's additional 3rd party financing request or federal grant application is approved or denied.
560.275(2)(d) (d) Venture capital grants and loans. The department may make a grant or loan from the appropriation under s. 20.143 (1) (dk) or (ik) for the purpose of enhancing the applicant's ability to obtain early stage financing from 3rd parties.
560.275(2)(e) (e) Entrepreneurial and technology transfer center grants. The department may make a grant from the appropriation under s. 20.143 (1) (dk) or (ik) for the purpose of supporting any entrepreneurial and technology transfer center that satisfies all of the following criteria:
560.275(2)(e)1. 1. The center serves multiple regions of this state.
560.275(2)(e)2. 2. The center provides assistance, other than financial assistance, to entrepreneurs to facilitate business development.
560.275(2)(e)3. 3. The center reviews and analyzes entrepreneurial business plans and offers advice concerning the improvement of the plans.
560.275(2)(e)4. 4. The center provides advice to entrepreneurs concerning patent, trademark, and copyright issues.
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This is an archival version of the Wis. Stats. database for 2003. See Are the Statutes on this Website Official?