560.29(2)(f)
(f)
Exemption from rights of inspection and copying. If the department determines that a document submitted by a certified capital company under this section contains a trade secret, as defined in
s. 134.90 (1) (c) or a business secret, that document is not subject to the right of inspection and copying under
s. 19.35.
560.29(3)
(3) Department reporting requirements. The department shall include in the report required under
s. 560.01 (2) (am) all of the following:
560.29(3)(a)
(a) The total amount of certified capital investments made, by calendar year, since July 1, 1999.
560.29(3)(b)
(b) Statistical information on the qualified investments made by certified capital companies during the previous 2 calendar years.
560.29(3)(c)
(c) The department's assessment of the number of jobs created in this state during the previous 2 calendar years as a result of qualified investments made by certified capital companies under this section.
560.29 Cross-reference
Cross-reference: See also s.
Comm 111.01, Wis. adm. code.
FORWARD INNOVATION FUND
560.30
560.30
Definitions. In this subchapter:
560.30(2)
(2) "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 percent of which are located in this state.
560.30(3)
(3) "Cluster" means a geographic, categorical, horizontal, or vertical concentration of interconnected, interdependent, or synergistic businesses, industries, research centers, or venues for the performance, creation, or display of the arts.
560.30(4)
(4) "Community-based organization" means an organization that is involved in economic development and helps businesses that are likely to employ persons.
560.30(5)
(5) "Economically distressed area" means an area designated by the department using the methodology established by rule under
s. 560.301 (2).
560.30(6)
(6) "Eligible activity" means any of the following:
560.30(6)(a)
(a) The start-up, expansion, or retention of minority businesses.
560.30(6)(b)
(b) The start-up, expansion, or retention of businesses in economically distressed areas.
560.30(6)(c)
(c) Innovative proposals to strengthen inner cities.
560.30(6)(d)
(d) Innovative proposals to strengthen communities in rural municipalities.
560.30(6)(e)
(e) Innovative programs to strengthen clusters.
560.30(6)(f)
(f) Innovative proposals to strengthen entrepreneurship.
560.30(7)
(7) "Eligible recipient" means any of the following:
560.30(7)(d)
(d) A cooperative or association incorporated under
ch. 185 or organized under
ch. 193.
560.30(7)(f)
(f) A nonprofit organization whose primary purpose is to promote the economic development of or community development in a particular area or region in the state.
560.30(8)
(8) "Governing body" means a county board, city council, village board, or town board.
560.30(9)
(9) "Local development corporation" means any of the following:
560.30(9)(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.
560.30(9)(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 percent controlled and actively managed by minority group members, and that does all of the following:
560.30(9)(b)1.
1. Operates primarily within specific geographic boundaries.
560.30(9)(b)2.
2. Promotes economic development and employment opportunities for minority group members or minority businesses within the specific geographic area.
560.30(9)(b)3.
3. Demonstrates a commitment to or experience in promoting economic development and employment opportunities for minority group members or minority businesses.
560.30(12)
(12) "Municipality" means a county, city, village, or town.
560.30(13)
(13) "Rural municipality" means any of the following:
560.30(13)(a)
(a) A municipality that is located in a county with a population density of less than 150 persons per square mile.
560.30(13)(b)
(b) A municipality with a population of 6,000 or less.
560.30(14)
(14) "Small business" means a business with fewer than 100 employees, including employees of any subsidiary or affiliated organization.
560.30 History
History: 2009 a. 28,
265.
560.301
560.301
Rules, policies, and standards for awarding grants and making loans. The department shall promulgate rules that establish procedures, policies, and standards for implementing this subchapter and awarding grants and making loans under this subchapter. The rules shall include all of the following:
560.301(1)
(1) A statement of the department's economic development objectives for the program under this subchapter, together with the goals and accountability measures required under
s. 560.01 (2) (ae).
560.301(2)
(2) The methodology for designating an area as economically distressed. The methodology under this subsection shall require the department to consider the most current data available for the area and for the state on the following indicators:
560.301(2)(g)
(g) Other significant or irregular indicators of economic distress, such as a natural disaster.
560.301(3)
(3) Provisions for the development of a biennial plan for awarding grants and making loans under this subchapter, before the commencement of each odd-numbered fiscal year, and for the submission of the biennial plan to the governor and the chief clerk of each house of the legislature for distribution to the appropriate standing committees under
s. 13.172 (3).
560.301(4)
(4) Procedures related to grants and loans under
s. 560.304 for all of the following:
560.301(5)
(5) Conditions applicable to a grant awarded or loan made under
s. 560.304.
560.301(6)
(6) Procedures for monitoring the use of grants awarded and loans made under this subchapter, including procedures for verification of economic growth, job creation, and the number and percentage of newly created jobs for which state residents are hired.
560.301 History
History: 2009 a. 28,
265.
560.302
560.302
Grant and loan criteria. Upon receipt of an application by an eligible recipient, the department may consider any of the following in determining whether to award a grant or make a loan under
s. 560.304:
560.302(1)
(1) Whether the eligible activity proposed to be conducted by the eligible recipient serves a public purpose.
560.302(2)
(2) Whether the eligible activity proposed to be conducted by the eligible recipient will retain or increase employment in this state.
560.302(3)
(3) Whether the eligible activity proposed to be conducted by the eligible recipient is likely to occur without the grant or loan.
560.302(4)
(4) Whether and the extent to which the eligible activity proposed to be conducted by the eligible recipient will contribute to the economic growth of this state and the well-being of residents of this state.
560.302(5)
(5) Whether the eligible activity proposed to be conducted by the eligible recipient will be located in an economically distressed area.
560.302(6)
(6) The economic condition of the community in which the eligible activity proposed to be conducted by the eligible recipient is proposed to occur.
560.302(7)
(7) The potential of the eligible activity proposed to be conducted by the eligible recipient to promote the employment of minority group members.
560.302(8)
(8) Any other criteria established by the department by rule, including the types of projects that are eligible for funding and the types of eligible projects that will receive priority.
560.302 History
History: 2009 a. 28.
560.303
560.303
Miscellaneous and administrative expenditures. In each biennium, the department may expend or encumber up to a total of 1 percent of the moneys appropriated under
s. 20.143 (1) (fi) for that biennium for any of the following:
560.303(1)
(1) Evaluations of proposed technical research projects.
560.303(3)
(3) Evaluation costs, collection costs, foreclosure costs, and other costs associated with administering the loan portfolio under this subchapter, excluding staff salaries.
560.303 History
History: 2009 a. 28.
560.304
560.304
Forward innovation fund. The department may award a grant or make a loan to an eligible recipient from the appropriations under
s. 20.143 (1) (fi),
(gm), and
(io). The department shall consult with the board prior to awarding a grant or making a loan under this section.
560.304 History
History: 2009 a. 28,
265,
276.
560.305(1)(1) The department shall encourage small businesses to apply for grants and loans under this subchapter by ensuring that there are no undue impediments to their participation and by actively encouraging small businesses to apply for grants and loans. The department shall do all of the following:
560.305(1)(a)
(a) Publish and disseminate information about projects that may be funded by a grant or loan under
s. 560.304 and about procedures for applying for grants and loans under
s. 560.304.
560.305(1)(b)
(b) Simplify the application and review procedures for small businesses so that they will not impose unnecessary administrative burdens on small businesses.
560.305(1)(c)
(c) Assist small businesses in preparing applications for grants and loans.
560.305(2)
(2) The department may charge a grant or loan recipient an origination fee of not more than 2 percent of the grant or loan amount if the grant or loan equals or exceeds $100,000. The department shall deposit all origination fees collected under this subsection into the appropriation account under
s. 20.143 (1) (gm).
560.305(3)
(3) The department shall develop a policy relating to obtaining reimbursement of grants and loans provided under this subchapter. The policy may provide that reimbursement shall be obtained through full repayment of the principal amount of the grant or loan plus interest, through receipt of a share of future profits from or an interest in a product or process, or through any other appropriate means.
560.305(4)
(4) The department shall require, as a condition of a grant or loan, that a recipient contribute to a project an amount that is not less than 25 percent of the amount of the grant or loan.
560.305 History
History: 2009 a. 28,
265.
OFFICE OF REGULATORY ASSISTANCE
