560.7995(3)(d)1.1. Notwithstanding the length of time specified by the department under
par. (a), the designation of an area as an airport development zone shall expire 90 days after the day on which the department determines that the forgone tax revenues estimated under
par. (c) will equal or exceed the limit established for the airport development zone.
560.7995(3)(d)2.
2. The department shall immediately notify each person certified for tax benefits in an airport development zone, the department of revenue, the department of transportation, the Wisconsin Housing and Economic Development Authority, and the governing body of each county, city, village, town, and federally recognized American Indian tribe or band in which territory of the airport development zone is located of a change in the expiration date of the airport development zone under this paragraph.
560.7995(4)(a)(a) A person that intends to operate a place of business in an airport development zone may submit to the department an application and a business plan. The business plan shall include all of the following:
560.7995(4)(a)1.
1. The name and address of the person's business for which tax benefits will be claimed.
560.7995(4)(a)2.
2. The appropriate Wisconsin tax identification number of the person.
560.7995(4)(a)3.
3. The names and addresses of other locations outside of the airport development zone where the person conducts business and a description of the business activities conducted at those locations.
560.7995(4)(a)4.
4. The amount that the person proposes to invest in the place of business or to spend on the construction, rehabilitation, repair, or remodeling of a building in the airport development zone.
560.7995(4)(a)5.
5. The estimated total investment of the person in the airport development zone.
560.7995(4)(a)6.
6. The estimated number of full-time jobs that will be created, retained, or substantially upgraded as a result of the person's place of business in the airport development zone in relation to the amount of tax benefits estimated for the person.
560.7995(4)(a)7.
7. The person's plans to make reasonable attempts to hire employees from the target population.
560.7995(4)(a)8.
8. The estimated number of full-time jobs that will be filled by members of the target population.
560.7995(4)(a)10.
10. Any other information required by the department or the department of revenue.
560.7995(4)(b)
(b) If the department approves a business plan under
par. (a), the department shall certify the person as eligible for tax benefits. The department shall notify the department of revenue within 30 days of certifying a person under this paragraph.
560.7995(4)(c)
(c) The department shall revoke a person's certification under
par. (b) when the designation of the applicable airport development zone expires or if the person does any of the following:
560.7995(4)(c)1.
1. Supplies false or misleading information to obtain the tax benefits.
560.7995(4)(c)2.
2. Leaves the airport development zone to conduct substantially the same business outside of the airport development zone.
560.7995(4)(c)3.
3. Ceases operations in the airport development zone and does not renew operation of the business or a similar business in the airport development zone within 12 months.
560.7995(4)(d)
(d) The department shall notify the department of revenue within 30 days after revoking a certification under
par. (c).
560.7995(4)(e)
(e) The tax benefits for which a person is certified as eligible under
par. (b) are not transferable to another person, business, or location, except to the extent permitted under section
383 of the Internal Revenue Code.
560.7995 Note
NOTE: This section was created as s. 560.799 by
2005 Wis. Act 487 and renumbered by the revisor under s. 13.93 (1) (b).
560.7995 History
History: 2005 a. 487; s. 13.93 (1) (b).
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.
Subch. VII of ch. 560 Cross-reference
Cross Reference: See also s.
Comm 114.01, Wis. adm. code.
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)
(4) "Eligible development project costs" means costs that, in accordance with sound business and financial practices, are appropriately incurred in connection with a development project, but does not include entertainment expenses or expenses incurred more than 6 months before the board approves a grant or loan under
s. 560.83.
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, 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
s. 560.84.
560.81(3)
(3) The board awards a grant or loan to the local development corporation under
s. 560.83 (2).
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) 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), 2001 stats., 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) that total more than $15,000.
560.82(5)(a)(a) The department may only award grants under
sub. (1) to individuals who are minority group members and residents of this state.
560.82(5)(b)
(b) If the department awards a grant under
sub. (1), the department may contract directly with and pay grant proceeds directly to any person providing technical or management assistance to the grant recipient.
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.
