238.143(4) (4) Matching requirement. The corporation may not award a grant under sub. (3) unless the eligible applicant has secured from nonstate sources an amount equal to the amount of the proposed grant.

238.143(5) (5) Consultation with department of tourism. The corporation may consult with the department of tourism to implement the corporation’s duties under this section.

238.143(6) (6) Annual report. No later than October 1 of each year, the corporation shall submit a report to the joint committee on finance for the previous fiscal year that includes a detailed description of each grant awarded under sub. (3), including the eligible applicant’s analysis concerning the opportunity or event.

238.143 History History: 2023 a. 169.

238.145 238.145 Branch campus redevelopment grants.

238.145(1) (1) Definitions. In this section:

238.145(1)(a) (a) “Branch campus” means any of the former college campuses that were partnered with a university in the University of Wisconsin System restructuring plan approved by the Higher Learning Commission on or about June 28, 2018.

238.145(1)(b) (b) “Planning costs” include, among other expenses, expenses incurred in connection with hiring consultants, site planning, viability studies, and environmental compliance or remediation activities.

238.145(1)(c) (c) “Political subdivision” means a city, village, town, or county.

238.145(2) (2) Grants.

238.145(2)(a) (a) From the appropriation under s. 20.192 (1) (c), and subject to pars. (b) to (f), the corporation shall award grants to political subdivisions for costs, including planning costs and demolition costs, associated with the redevelopment of buildings or other sites owned by the political subdivision on a branch campus or former branch campus.

238.145(2)(b) (b) A grant may be awarded under this subsection only to fund activities that contribute to the overall economic improvement and enhancement of the community. These activities may include, among others, activities that facilitate job creation, workforce development, small business support, housing, or public infrastructure improvement.

238.145(2)(c) (c) The corporation may not award a grant under this subsection unless the political subdivision applying for the grant satisfies all of the following:

238.145(2)(c)1. 1. The political subdivision submits to the corporation community letters of support for the grant.

238.145(2)(c)2. 2. The political subdivision provides funding from local sources.

238.145(2)(d) (d) No grant awarded under this subsection may exceed $2,000,000.

238.145(2)(e) (e) The corporation shall award a grant under this subsection to Richland County. The corporation shall award grants to Fond du Lac County, Washington County, and Marinette County. This paragraph applies to a county only if the county satisfies all requirements under this subsection for the award of a grant.

238.145(2)(f) (f) The joint committee on finance may supplement the appropriation under s. 20.192 (1) (c) without finding that an emergency exists under s. 13.101 (3) (a) 1.

238.145(3) (3) Reports. No later than 90 days after completion of a project for which a grant is awarded under sub. (2), the political subdivision receiving the grant shall submit to the corporation and to the chief clerk of each house of the legislature for distribution to the appropriate standing committees under s. 13.172 (3) a report containing all of the following information:

238.145(3)(a) (a) The name of the grant recipient and the amount of the grant awarded.

238.145(3)(b) (b) A detailed description of how the grant funds were spent.

238.145 History History: 2023 a. 250.

238.15 238.15 Early stage business investment program.

238.15(1) (1) Angel investment tax credits. The corporation shall implement a program to certify businesses for purposes of s. 71.07 (5d). A business desiring certification shall submit an application to the corporation in each taxable year for which the business desires certification. The business shall specify in its application the investment amount it wishes to raise and the corporation may certify the business and determine the amount that qualifies for purposes of s. 71.07 (5d). The corporation may certify or recertify a business for purposes of s. 71.07 (5d) only if the business satisfies all of the following conditions:

238.15(1)(a) (a) It has its headquarters in this state.

238.15(1)(b) (b) At least 51 percent of the employees employed by the business are employed in this state, except that if a business fails to satisfy this paragraph in any year due to a business merger or acquisition, the corporation may grant the business a waiver that allows the business to remain eligible for certification or recertification under this subsection if all of the following apply:

238.15(1)(b)1. 1. The business maintains its headquarters in this state.

238.15(1)(b)2. 2. After the merger or acquisition, the business increases the number of employees the business employs in this state.

238.15(1)(b)3. 3. The corporation determines that the merger or acquisition was not for the purpose of relocating the business’s operations or employees from this state to another state or for the purpose of ceasing the business’s efforts to further grow and expand in this state.