State Codes and Statutes

Statutes > Wisconsin > 560 > 560.138

560.138

560.138 Gaming economic diversification grants and loans.

560.138(1)

(1) In this section:

560.138(1)(ac)

(ac) "Brownfields" has the meaning given in s. 560.13 (1) (a).

560.138(1)(an)

(an) "Native American business" means a sole proprietorship, partnership, limited liability company, joint venture or corporation that is at least 51% owned, controlled and actively managed by a member or members of a federally recognized American Indian tribe or band in this state.

560.138(1)(at)

(at) "Professional services" has the meaning given in s. 560.17 (1) (c).

560.138(1)(b)

(b) "Qualified business" means an existing or start-up business, including a Native American business, that is located in or expanding into this state.

560.138(1)(c)

(c) "Remediating brownfields" means abating, removing, or containing environmental pollution at a brownfields facility or site, or restoring soil or groundwater at a brownfields facility or site.

560.138(2)

(2)

560.138(2)(a)

(a) Subject to subs. (3) and (4), from the appropriations under s. 20.143 (1) (ig) and (kj), the department may make a grant or loan to a qualified business for a project for any of the following purposes:

560.138(2)(a)1.

1. Diversifying the economy of a community.

560.138(2)(a)2.

2. Remediating brownfields.

560.138(2)(b)

(b) In determining whether to award a grant or loan under this section, the department shall consider all of the following:

560.138(2)(b)1.

1. A project's potential to retain or increase the number of jobs.

560.138(2)(b)2.

2. A project's potential to provide for significant capital investment.

560.138(2)(b)3.

3. A project's contribution to the economy of the community.

560.138(2)(b)4.

4. Whether a project will take place in a rural community, as determined by the department.

560.138(2m)

(2m) Subject to subs. (3) and (4), from the appropriations under s. 20.143 (1) (ig) and (kj), the department may do all of the following for the purpose of improving the profitability of a qualified business that has been negatively impacted by the existence of a casino:

560.138(2m)(a)

(a) Make a grant that does not exceed $15,000 to a qualified business for professional services.

560.138(2m)(b)

(b) Make a grant or loan that does not exceed $100,000 to a qualified business for fixed asset financing.

560.138(3)

(3) As a condition of approval of a grant or loan under this section, the department shall require that a qualified business provide matching funds for at least 25% of the cost of a project. The department may waive the requirement under this subsection if the department determines that the qualified business is subject to extreme financial hardship.

560.138(4)

(4) The department may not award a grant or loan under this section to a qualified business for any purpose that is related to tourism unless the department of tourism concurs in the award.

560.138(5)

(5)

560.138(5)(a)

(a) The department shall deposit into the appropriation account under s. 20.143 (1) (ig) all moneys received in repayment of loans made under this section.

560.138(5)(b)

(b) The department may forgive all or any part of a loan made under this section.

560.138(6)

(6) If the department awards a grant under this section, the department may contract directly with and pay grant proceeds directly to any person providing technical or management assistance to the grant recipient.

560.138(7)

(7) The department may charge the recipient of a grant or loan under this section 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).

560.138 - ANNOT.

History: 1999 a. 9; 2001 a. 16; 2005 a. 25; 2007 a. 125 ss. 54, 57, 58, 65 to 68; 2009 a. 28.