560.036(1)(fm)
(fm) "Minority investment firm" means a sole proprietorship, partnership, limited liability company, joint venture or corporation that fulfills all of the following requirements:
560.036(1)(fm)1.
1. It is at least 51% owned, controlled and actively managed by a minority group member or members who are U.S. citizens or persons lawfully admitted to the United States for permanent residence, as defined under
8 USC 1101 (a) (20).
560.036(1)(fm)2.
2. It serves as a manager, comanager or in any other underwriting capacity with regard to the sale of evidences of indebtedness or other obligations or as a broker-dealer as defined in
s. 551.102 (4).
560.036(1)(g)
(g) "Person of Asian-Pacific origin" means a person whose ancestors originated in Japan, China, Taiwan, Korea, Vietnam, Laos, Cambodia, the Philippines, Samoa, Guam, the U.S. Trust Territories of the Pacific or the Northern Marianas.
560.036(1)(h)
(h) "Useful business function" means the provision of materials, supplies, equipment or services to customers in addition to this state. Acting as a conduit to transfer funds to a nonminority business does not constitute a useful business function, unless doing so is a normal industry practice.
560.036(2)
(2) Minority business, adviser and firm certification. 560.036(2)(a)(a) For the purposes of
ss. 16.75 (3m),
16.855 (10m),
16.87 (2),
18.16,
18.64,
18.77,
25.185,
119.495 (2),
200.57,
231.27 and
234.35, the department shall establish and periodically update a list of certified minority businesses, minority financial advisers and minority investment firms. Any business, financial adviser or investment firm may apply to the department for certification. For purposes of this paragraph, unless the context otherwise requires, a "business" includes a financial adviser or investment firm.
560.036(2)(b)
(b) The department shall certify a business incorporated under
ch. 180 or having its principal place of business in this state if the department, after conducting an investigation, determines that the business qualifies as a minority business under
sub. (1) and any rules promulgated under
sub. (3) (c). A determination that a business qualifies as a minority business may not be based on the number of minority group members employed by the business.
560.036(2)(c)
(c) The department, without investigation, may certify a business incorporated in this state or having its principal place of business in this state if the business is certified or otherwise classified as a minority business by an agency of this or another state or the federal government, or by a private business with expertise in certifying minority businesses if the private business uses substantially the same procedures as those used by the department in making a determination under
par. (b).
560.036(2)(d)1.1. If the business applying for certification is not incorporated under
ch. 180 or does not have its principal place of business in this state, the department may certify it if it meets a condition specified under
par. (b) or
(c) and if either of the following conditions exists:
560.036(2)(d)1.a.
a. The state in which the business is incorporated or has its principal place of business has a statutory minority business procurement program and the business qualifies for participation in that program under a procedure substantially equivalent to the procedure used by the department in making a determination under
par. (b).
560.036(2)(d)1.b.
b. The department determines that, with respect to a specified type of supply, material, equipment or service, there are not enough certified minority business suppliers in this state to enable this state to achieve compliance with
ss. 16.75 (3m),
16.855 (10m),
16.87 (2) and
25.185.
560.036(2)(dm)
(dm) The department may charge each business applying for certification under
par. (d) a fee to cover the department's expenses in making the certification determination.
560.036(2)(e)
(e) If a business refuses to provide the department with sufficient information to enable it to conduct an investigation or if the business does not qualify for certification under
par. (b),
(c) or
(d), the department shall deny the application. A business whose application is denied may, within 30 days after the date of the denial, appeal in writing to the secretary. The secretary shall enter his or her final decision within 30 days after receiving the appeal.
560.036(2)(f)
(f) The department may, at the request of any state agency, or at its own discretion, examine any certified business to verify that it qualifies for certification. The business shall provide the department with any records or information necessary to complete the examination. If the business fails to comply with a reasonable request for records or information, the department shall decertify it.
560.036(2)(g)
(g) If the department, after an examination under
par. (f), determines that a business does not qualify as a minority business, the department shall notify the business and the departments of administration and transportation that it intends to decertify the business. The business may, within 30 days after the notice is sent, appeal in writing to the secretary. The secretary shall enter his or her final decision within 30 days after receiving the appeal. If the secretary confirms the decision of the department, the department shall immediately decertify the business. A decertified business may, within 30 days after the secretary's decision, request a contested case hearing under
s. 227.42 from the department. If the final administrative or judicial proceeding results in a determination that the business qualifies as a minority business, the department shall immediately certify the business.
560.036(3)(a)(a) The department shall promulgate rules establishing procedures to implement
sub. (2).
560.036(3)(c)
(c) The department may promulgate rules establishing conditions with which a business, financial adviser or investment firm must comply to qualify for certification, in addition to the qualifications specified under
sub. (1) (e),
(ep) and
(fm), respectively.
560.036 Cross-reference
Cross-reference: See also s.
Comm 105.01, Wis. adm. code.
560.037
560.037
Women's business initiative corporation grants. 560.037(1)(1) Subject to
sub. (3), the department may make grants from the appropriation under
s. 20.143 (1) (fw) to the women's business initiative corporation to fund its operating costs if all of the following apply:
560.037(1)(a)
(a) The women's business initiative corporation submits a plan to the department for each grant detailing the proposed use of the grant and the secretary approves the plan.
560.037(1)(b)
(b) The women's business initiative corporation enters into a written agreement with the department that specifies the conditions for use of the grant proceeds, including reporting and auditing requirements.
560.037(1)(c)
(c) The women's business initiative corporation agrees in writing to provide services to individuals throughout the state.
560.037(1)(d)
(d) The women's business initiative corporation agrees in writing to submit to the department the report required under
sub. (2) by the time required under
sub. (2).
560.037(2)
(2) If the women's business initiative corporation 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.
560.037(3)
(3) The department may not make grants under
sub. (1) that exceed $125,000 in total in any year.
560.037 History
History: 1993 a. 16;
1997 a. 27;
2009 a. 28.
560.04
560.04
Community development. 560.04(1)
(1)
Purpose. The legislature determines that a pattern of state-local relations shall be established that will facilitate closer coordination and cooperation between state and local governments. The department shall recommend methods for achieving such closer coordination and cooperation in order to meet citizen needs, provide a balanced economy and facilitate economic and community development.
560.04(2)(a)
(a) Review proposed changes in local government boundaries and evaluate and recommend to communities involved those changes which are in the best interest of the state and the communities involved.
560.04(2)(b)
(b) Cooperate with and provide technical assistance to county, town, village, city and regional planning commissions and their governing bodies, community development groups, and similar agencies created for the purposes of aiding and encouraging orderly, productive and coordinated economic and community development in the state and assuring a productive and coordinated state-local relationship.
560.04(2)(c)
(c) Encourage and, when requested, assist the efforts of local governments to develop mutual and cooperative solutions to their common problems.
560.04(2)(e)
(e) Consult with and encourage participation by private groups, individuals, and organizations in carrying out the purposes of the department.
560.04(2)(g)
(g) Establish and operate a community development and local government clearinghouse to facilitate the exchange of information between other state and federal agencies and units of local government.
560.04(2)(h)
(h) Identify for the governor's attention those significant state-local relations problems, including economic development, which may be relieved by state action.
560.04(2)(j)
(j) Administer grant programs related to economic or community development, including economic development assistance programs and urban development comprehensive planning grants affecting local government, business or industry, to assist and strengthen local, regional and state economic and community development and support experimental and cooperative activities and intergovernmental relations, training of local government officials and personnel, and other activities consistent with the purposes of this chapter.
560.04(2m)
(2m) Duties. The department may assign one or more full-time equivalent positions to the functions of coordinating the development and scheduling of training programs for local government officials by the University of Wisconsin-Extension, technical college system, department of revenue, government accountability board, and other state agencies in order to assure the effective delivery of training programs and to prevent duplication of effort and of coordinating requests for management or personnel consultative services from government units other than the state and directing those requests to the appropriate division of the department of administration.
560.04 Cross-reference
Cross-reference: See also ch.
Comm 108, Wis. adm. code.
560.045
560.045
Community development block grant administration. 560.045(1)(1) To the extent allowed under federal law or regulation, the department shall give priority in the awarding of grants under housing programs to grants for projects related to the redevelopment of brownfields, as defined in
s. 560.13 (1) (a).
560.045(2)
(2) The department shall expand the blight elimination and brownfield redevelopment program under
subch. V of
ch. Comm 108, Wis. Adm. Code, to fund redevelopment planning and projects that will result in end uses with taxable value.
560.045 Cross-reference
Cross-reference: See also ch.
Comm 108, Wis. adm. code.
560.047
560.047
Capital access program. 560.047(1)(a)
(a) "Administrator" means Wisconsin Business Development Finance Corporation or an entity that is under contract with Wisconsin Business Development Finance Corporation to administer all or any portion of the program.
560.047(1)(b)1.
1. A financial institution regulated by this state or by the United States that is in good standing with regulatory authorities.
560.047(1)(b)2.
2. An entity that has an existing portfolio of revolving loans to small businesses and that has as its primary purpose and mission the promotion of community development primarily in a limited geographic area of this state that is experiencing economic distress.
560.047(1)(c)
(c) "Borrower" means any organization or enterprise, operated for profit or not for profit, that fulfills all of the following conditions:
560.047(1)(c)3.
3. Is not an executive officer, director, or principal shareholder of a participating bank, a member of the immediate family of an executive officer, director, or principal shareholder of a participating bank, or an organization or enterprise controlled by any of those individuals.
560.047(1)(d)
(d) "Eligible project" means any business purpose in this state except any of the following:
560.047(1)(e)
(e) "Participating bank" means a bank that enters into an agreement with the administrator and makes loans under the program.
560.047(1)(f)
(f) "Program" means the capital access program under this section.
560.047(1)(g)
(g) "Reserve funds" means premiums contributed under
sub. (2) (d) and interest accrued on the premiums.
560.047(2)
(2) Department grants and program requirements. The department shall award grants totaling $350,000 from the appropriation under
s. 20.143 (1) (c) to Wisconsin Business Development Finance Corporation to fund a program if all of the following apply:
560.047(2)(a)
(a) The administrator enters into written agreements with banks desiring to participate in the program that specify the rights and obligations of the administrator and a participating bank under the program.
560.047(2)(b)
(b) The administrator develops a standard agreement form for use with banks desiring to participate in the program and any other standard forms necessary for use in the program.
560.047(2)(c)
(c) Under the program, a participating bank makes loans to borrowers for eligible projects for which financing might not otherwise be available due to the borrowers' lack of adequate collateral, net worth, or credit history.
560.047(2)(d)
(d) Whenever a participating bank makes a loan under the program, the borrower and the participating bank each contribute a premium in an amount determined by the participating bank, but not less than 1.5 percent nor more than 3.5 percent of the principal amount of the loan or the principal amount of the loan to be covered under the program. The administrator contributes a premium in an amount not less than 100 percent nor more than 150 percent of the total combined premium paid by the borrower and the participating bank and deposits all of the premiums into an account at the participating bank that contains the premiums, and interest accrued on those premiums, and that may also contain premiums and interest under a capital access program administered by Milwaukee Economic Development Corporation, from all of the loans made under the program by that participating bank.
560.047(2)(e)
(e) Reserve funds are owned and controlled by the administrator but reserved for the use of the participating bank that made the loans represented by the reserve funds.
560.047(2)(f)
(f) A participating bank may enroll a loan in the program only if the administrator approves the enrollment of the loan after reviewing an application submitted by the bank.
560.047(2)(g)
(g) A refinanced prior loan to a borrower for an eligible project may not be enrolled in the program except to the extent of any additional funds loaned to the borrower.
560.047(2)(h)
(h) Reserve funds held by a participating bank may not be withdrawn for use by the participating bank except in case of a loss on a loan that is enrolled in the program.
560.047(2)(i)
(i) In case of a loss on a loan that is enrolled in the program, the participating bank submits a claim to the administrator. The amount of the claim, up to the total amount of reserve funds held by the bank, may not exceed the amount of the loan's principal covered under the program and actually charged off by the participating bank, plus accrued interest and verifiable out-of-pocket collection expenses.
560.047(2)(j)
(j) The administrator is subrogated to the rights of a participating bank to recover against a borrower, including the right to enforce a security interest in collateral.
560.047(2)(k)
(k) Each participating bank agrees to reimburse the administrator for any funds, less out-of-pocket expenses, paid to the bank from its reserve funds that are later recovered by the bank.
560.047(2)(L)
(L) Each participating bank files a report with the administrator, at times requested by the administrator, listing the outstanding balance for each loan enrolled by the bank in the program.
560.047(2)(m)
(m) Upon notice to a bank, the administrator may inspect the records and files of the bank relating to any enrolled or charged-off loan.
560.047(2)(n)
(n) Wisconsin Business Development Finance Corporation may contract with a 3rd party to administer the program or any portion of the program, if the 3rd party has as its primary purpose and mission the promotion of community development, is described in section
501 (c) (3) of the Internal Revenue Code, and is exempt from federal tax under section
501 (a) of the Internal Revenue Code.
560.047(2)(o)
(o) Wisconsin Business Development Finance Corporation may withdraw up to 50 percent of the interest component of reserve funds and may use the moneys withdrawn to promote the program and to contract with a 3rd party to administer the program.
560.047(2)(p)
(p) The administrator may terminate a participating bank's right to make any new loans under the program.
