Amendment ASA1-AB875

LRBs0461/1

TKK&ARG:nwn:jf

2009 - 2010 LEGISLATURE

ASSEMBLY SUBSTITUTE AMENDMENT 1, TO 2009 ASSEMBLY BILL 875

April 20, 2010 - Offered by Representative Young.

AB875-ASA1,1,5 An Act to amend 20.143 (1) (im), 20.143 (1) (io), 34.05 (1), 560.13 (2) (b) 1. and 560.45 (1); and to create 15.155 (3m), 20.143 (1) (fm), 25.14 (1) (a) 20., 25.17 (59), 34.045 (1m), 34.05 (4) and subchapter VII of chapter 560 [precedes 560.80] of the statutes; relating to: restoring the Minority Business Development Board and the Minority Business Grant and Loan Program.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB875-ASA1, s. 1 Section 1. 15.155 (3m) of the statutes is created to read:

AB875-ASA1,1,9 15.155 (3m) Minority business development board. There is created a minority business development board attached to the department of commerce under s. 15.03 consisting of members appointed by the governor for 2-year terms.

AB875-ASA1, s. 2 Section 2. 20.005 (3) (schedule) of the statutes: at the appropriate place, insert the following amounts for the purposes indicated: - See PDF for table

AB875-ASA1, s. 3 Section 3. 20.143 (1) (fm) of the statutes is created to read:

AB875-ASA1,2,3 20.143 (1) (fm) Minority business projects; grants and loans. Biennially, the amounts in the schedule for grants and loans under s. 560.82.

AB875-ASA1, s. 4 Section 4. 20.143 (1) (im) of the statutes, as affected by 2009 Wisconsin Act 28, is amended to read:

AB875-ASA1,2,10 20.143 (1) (im) Minority business projects; repayments. All moneys received on or before June 30, 2009, in repayment of grants or loans under s. 560.82 (1m) (b), 2007 stats., and s. 560.82 (1m) (c), 2007 stats., and loans under 1997 Wisconsin Act 9, section 3, to be used for grants and loans under s. 560.45 and subch. II of ch. 560 560.82 and for the study under 2009 Wisconsin Act 28, section 9110 (15u).

AB875-ASA1, s. 5 Section 5. 20.143 (1) (io) of the statutes, as created by 2009 Wisconsin Act 28, is amended to read:

AB875-ASA1,2,16 20.143 (1) (io) Grant and loan repayments; forward innovation fund. All moneys received in repayment of grants or loans under subch. II of ch. 560, grants or loans under s. 560.82 (1m) (b) and (c), 2007 stats., and loans under 1997 Wisconsin Act 9, section 3, to be used for grants and loans under subch. II of ch. 560.

AB875-ASA1, s. 6 Section 6. 25.14 (1) (a) 20. of the statutes is created to read:

AB875-ASA1,2,19 25.14 (1) (a) 20. The moneys from the appropriation under s. 20.143 (1) (fm), as described in s. 25.17 (59).

AB875-ASA1, s. 7 Section 7. 25.17 (59) of the statutes is created to read:

AB875-ASA1,3,7 25.17 (59) Invest or deposit money from the appropriation under s. 20.143 (1) (fm) in a public depository located in this state that is at least 51 percent owned by a minority group member or minority group members, as defined in s. 560.036 (1) (f). The board is relieved of any obligations relevant to prudent investment, including those set forth in s. 25.15 (2), of the moneys from the appropriation under s. 20.143 (1) (fm).

AB875-ASA1, s. 8 Section 8. 34.045 (1m) of the statutes is created to read:

AB875-ASA1,3,10 34.045 (1m) Subsection (1) (a) and (e) does not apply to the funds appropriated under s. 20.143 (1) (fm) that are deposited as provided in s. 34.05.

AB875-ASA1, s. 9 Section 9. 34.05 (1) of the statutes, as affected by 2009 Wisconsin Act 28, is amended to read:

AB875-ASA1,3,23 34.05 (1) The Except as provided in sub. (4), the governing board of each public depositor shall, by resolution, designate one or more public depositories, organized and doing business under the laws of this state or federal law and located in this state, in which the treasurer of the governing board shall deposit all public moneys received by him or her and specify whether the moneys shall be maintained in time deposits subject to the limitations of s. 66.0603 (1m), demand deposits, or savings deposits and whether a surety bond or other security shall be required to be furnished under s. 34.07 by the public depository to secure the repayment of such deposits. A designation of a public depository by the governing board shall be a designation of the public depository for all treasurers of the governing board and for all public depositors for which each treasurer shall act.

AB875-ASA1, s. 10 Section 10. 34.05 (4) of the statutes is created to read:

AB875-ASA1,4,4 34.05 (4) Money from the appropriation under s. 20.143 (1) (fm) shall be deposited in a public depository located in this state that is at least 51 percent owned by a minority group member or minority group members, as defined in s. 560.036 (1) (f).

AB875-ASA1, s. 11 Section 11. 560.13 (2) (b) 1. of the statutes, as affected by 2009 Wisconsin Act 28, is amended to read:

AB875-ASA1,4,11 560.13 (2) (b) 1. The contribution required under par. (a) 3. may be in cash or in-kind. Cash contributions may be of private or public funds, excluding funds obtained under the program under s. 560.17 or under any program under subch. II or V or VII of this chapter. In-kind contributions shall be limited to actual remediation services.

AB875-ASA1, s. 12 Section 12. 560.45 (1) of the statutes, as created by 2009 Wisconsin Act 28, is amended to read:

AB875-ASA1,4,16 560.45 (1) The department may award a grant from the appropriations under s. 20.143 (1) (ie), (ig), (im), and (ir) to a business for innovation and research assistance.

AB875-ASA1, s. 13 Section 13. Subchapter VII of chapter 560 [precedes 560.80] of the statutes is created to read:

AB875-ASA1,4,19 CHAPTER 560

AB875-ASA1,4,20 SUBCHAPTER VII

AB875-ASA1,4,21 MInority business grants and Loans

AB875-ASA1,4,22 560.80 Definitions. In this subchapter:

AB875-ASA1,4,23 (1) "Board" means the minority business development board.

AB875-ASA1,5,2 (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.

AB875-ASA1,5,4 (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.

AB875-ASA1,5,7 (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. 560.82 (1m) (e).

AB875-ASA1,5,12 (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. 560.82 (1m) (b).

AB875-ASA1,5,13 (5) "Eligible recipient" means any of the following:

AB875-ASA1,5,14 (a) An individual who is a minority group member and a resident of this state.

AB875-ASA1,5,15 (b) A minority business.

AB875-ASA1,5,16 (c) A person who is eligible to receive a grant under s. 560.82 (1m) (d) or (e).

AB875-ASA1,5,18 (5m) "Finance project" means financial assistance to a minority group member or a minority business described in s. 560.82 (1m) (d) and (e).

AB875-ASA1,5,22 (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.

AB875-ASA1,5,23 (7) "Local development corporation" means any of the following:

AB875-ASA1,5,25 (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.

AB875-ASA1,6,3 (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:

AB875-ASA1,6,4 1. Operates primarily within specific geographic boundaries.

AB875-ASA1,6,6 2. Promotes economic development and employment opportunities for minority group members or minority businesses within the specific geographic area.