AB75-SSA1,1580,9 7(2) Capital connections grants. From the appropriation under s. 20.143 (1)
8(bk), the department may award a grant to an eligible institution to fund a project
9that does any of the following:

AB75-SSA1,1580,1110 (a) Expands access for Wisconsin business ventures and entrepreneurs to
11existing capital networks.

AB75-SSA1,1580,1312 (b) Creates or runs a network to connect Wisconsin business ventures and
13entrepreneurs with available capital.

AB75-SSA1,1580,1514 (c) Creates an activity, event, or strategy to connect Wisconsin business
15ventures and entrepreneurs with available capital.

AB75-SSA1,1580,21 16(3) Venture seed grants. (a) From the appropriation under s. 20.143 (1) (bk),
17the department may award a grant to an eligible institution to match funds raised
18by the institution for funding a new business or determining proof of concept and
19feasibility of a new business idea, if the department determines the award of a grant
20will increase the amount of funding for new businesses or will leverage private
21investment and facilitate the creation of jobs in this state.

AB75-SSA1,1580,2322 (b) The proceeds of a grant awarded under this subsection shall be used to
23provide funding as proposed by the institution in the institution's application.

AB75-SSA1,1580,25 24(4) Rule making. The department shall promulgate rules for the
25administration of this section.

AB75-SSA1,1581,3

1(5) The department shall establish by rule a Wisconsin venture fund advisory
2council, which shall make recommendations to the department regarding all of the
3following:

AB75-SSA1,1581,54 (a) A process by which the department, the department of financial
5institutions, and other qualified persons may review proposals.

AB75-SSA1,1581,66 (b) The maximum amount of a grant awarded under sub. (2) or (3).

AB75-SSA1,1581,97 (c) Requirements that applicants for grants under subs. (2) and (3) secure
8funding from sources other than the state to match a portion of the amount of a grant
9awarded under sub. (2) or (3).

AB75-SSA1,1581,1110 (d) Monitoring of projects funded by grants under sub. (2) or (3), including
11monitoring of job creation.

AB75-SSA1, s. 3076 12Section 3076. Subchapter II of chapter 560 [precedes 560.30] of the statutes
13is created to read:

AB75-SSA1,1581,18 18560.30 Definitions. In this subchapter:

AB75-SSA1,1581,19 19(1) "Board" means the economic policy board created under s. 15.155 (2).

AB75-SSA1,1581,22 20(2) "Business" means a company located in this state, a company that has made
21a firm commitment to locate a facility in this state, or a group of companies at least
2280 percent of which are located in this state.

AB75-SSA1,1582,2 23(3) "Cluster" means a geographic, categorical, horizontal, or vertical
24concentration of interconnected, interdependent, or synergistic businesses,

1industries, research centers, or venues for the performance, creation, or display of
2the arts.

AB75-SSA1,1582,4 3(4) "Community-based organization" means an organization that is involved
4in economic development and helps businesses that are likely to employ persons.

AB75-SSA1,1582,6 5(5) "Economically distressed area" means an area designated by the
6department using the methodology established by rule under s. 560.301 (2).

AB75-SSA1,1582,7 7(6) "Eligible activity" means any of the following:

AB75-SSA1,1582,88 (a) The start-up, expansion, or retention of minority businesses.

AB75-SSA1,1582,109 (b) The start-up, expansion, or retention of businesses in economically
10distressed areas.