85.25(2)(d)
(d) “Guaranteed loan" means a mobilization loan which is guaranteed by a business development organization under a grant under sub.
(3).
85.25(2)(e)
(e) “Mobilization loan" means a short-term loan, as specified by the department by rule, to a disadvantaged business to provide working capital in order to finance the purchase of capital equipment, insurance or any other service or consumable good necessary to enable the disadvantaged business to participate in transportation-related construction contracts with the department.
85.25(2)(f)
(f) “Participating lender" means a bank, credit union, savings bank, savings and loan association or other person who makes mobilization loans.
85.25(3)
(3) Administration. The department shall administer the disadvantaged business mobilization assistance program. Subject to sub.
(4), the department may make grants for the purpose specified in sub.
(1) to a business development organization in order to provide funding for the guarantee by the business development organization of a mobilization loan made by a participating lender to a disadvantaged business certified by the department.
85.25(4)
(4) Rule making. The department shall promulgate rules to implement the disadvantaged business mobilization assistance program. The rules shall specify all of the following:
85.25(4)(a)
(a) Conditions for eligibility of a business development organization for a grant under sub.
(3).
85.25(4)(b)
(b) Conditions for eligibility of a disadvantaged business for a guaranteed loan. The conditions may include requirements relating to certification of a disadvantaged business by the department.
85.25(4)(c)
(c) Conditions for the guarantee of a mobilization loan by a business development organization applying for a grant under sub.
(3). The conditions shall include requirements relating to the term of a mobilization loan. The conditions may include a requirement for execution of a guarantee agreement between the business development organization and the participating lender and review of such an agreement by the department. The conditions may specify a percentage of principal of any mobilization loan which must be guaranteed by a business development organization applying for a grant under sub.
(3). The conditions may include requirements relating to the rate of a mobilization loan. The conditions may include requirements relating to defaulted mobilization loans and deficiencies.
85.25(4)(d)
(d) Conditions relating to the total principal amounts of all mobilization loans which may be guaranteed by business development organizations at one time, not to exceed $1,500,000.
85.25(4)(e)
(e) Conditions under which a business development organization may not guarantee additional mobilization loans. The conditions shall include a prohibition on the guarantee of additional mobilization loans by a business development organization if the amount of the grant to the business development organization not yet expended under the disadvantaged business mobilization assistance program is equal to or less than $100,000.
85.25(4)(f)
(f) Conditions under which a grant made under sub.
(3) to a business development organization may be required to be repaid.
85.25(5)
(5) Moral obligation. Recognizing its moral obligation to do so, the legislature expresses its expectation and aspiration that, if ever called upon to do so, it shall make an appropriation from the transportation fund to meet all demands for funds relating to defaulted mobilization loans and deficiencies under this section.
85.25 Cross-reference
Cross-reference: See also ch.
Trans 404, Wis. adm. code.
85.26
85.26
Intercity bus assistance program. 85.26(1)(1)
Definitions. In this section:
85.26(1)(a)
(a) “Intercity bus service" means regularly scheduled bus service for the general public that operates with limited stops over fixed routes connecting 2 or more urban areas not in close proximity, that has the capacity for transporting baggage carried by passengers, and that makes meaningful connections with scheduled intercity bus service to more distant points if service to more distant points is available.
85.26(1)(b)
(b) “Net operating loss" means the portion of the reasonable costs of operating an intercity bus service route that cannot reasonably be financed from revenues derived from the route.
85.26(1)(c)
(c) “Political subdivision" means a city, village, town, or county.
85.26(2)(a)
(a) The department shall develop and administer an intercity bus assistance program to increase the availability of intercity bus service in this state. Under this program, the department may do any of the following:
85.26(2)(a)1.
1. Contract with private providers of intercity bus service to support intercity bus service routes of the provider.
85.26(2)(a)2.
2. Make grants to political subdivisions to support intercity bus service routes having an origin or destination in the political subdivision.
85.26(2)(b)
(b) All expenditures under the program shall be made from the appropriations under s.
20.395 (1) (bq),
(bv), and
(bx). The department may not enter into any contract under par.
(a) 1., or award any grant under par.
(a) 2., that provides funds to support any intercity bus service route in an amount exceeding the lesser of the following:
85.26(2)(b)1.
1. Fifty percent of the net operating loss of the intercity bus service route.
85.26(2)(b)2.
2. The portion of the net operating loss of the intercity bus service route for which federal funds are not available.