560.157 Entrepreneurial assistance grants. - Wisconsin Statutes

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560.157

560.157 Entrepreneurial assistance grants.

560.157(1)

(1) In this section, "new business" means a business organized in this state on a date not more than 12 months before the date on which the business applies for a grant under this section.

560.157(2)

(2)

560.157(2)(a)

(a) The department may award a grant of up to $3,000 to a new business from the appropriation under s. 20.143 (1) (gv) for the business's expenses in hiring a student of a college or university in this state as a paid intern for the business to assist in conducting research, marketing, business plan development, or other functions relating to the creation of a new business. Grants under this subsection may be used only for the recipient's expenses in hiring students in the fields of business, engineering, information technology, or in a similar field, as determined by the department.

560.157(2)(b)

(b) The department shall enter into an agreement with a recipient of a grant under this section that requires the recipient to repay at least one-third of the amount of the grant no later than 2 years after the recipient receives the proceeds of a grant under this subsection. The department shall encourage a recipient to repay additional amounts when the business becomes profitable.

560.157(3)

(3) If the department awards grants under sub. (2) to 3 or more businesses to fund internships for students of a single college or university in this state, the department may award a grant of up to $25,000 to the college or university from the appropriation under s. 20.143 (1) (gv) for costs associated with hiring interns under sub. (2). If the department lacks sufficient funds to award grants to all qualified applicants, the department shall allocate available funds to applicants who have the greatest potential to create jobs in this state.

560.157(4)

(4) The department shall actively pursue gifts and grants from private sources for funding grants under this section.

560.157(5)

(5)

560.157(5)(a)

(a) Not later than 4 years after July 1, 2009, the department shall submit to the legislature under s. 13.172 (2) a report evaluating the effectiveness of grants under this section.

560.157(5)(b)

(b) The department may not award a grant under this section after June 30, 2014.

560.157 - ANNOT.

History: 2009 a. 28.

State Codes and Statutes

Statutes > Wisconsin > 560 > 560.157

560.157

560.157 Entrepreneurial assistance grants.

560.157(1)

(1) In this section, "new business" means a business organized in this state on a date not more than 12 months before the date on which the business applies for a grant under this section.

560.157(2)

(2)

560.157(2)(a)

(a) The department may award a grant of up to $3,000 to a new business from the appropriation under s. 20.143 (1) (gv) for the business's expenses in hiring a student of a college or university in this state as a paid intern for the business to assist in conducting research, marketing, business plan development, or other functions relating to the creation of a new business. Grants under this subsection may be used only for the recipient's expenses in hiring students in the fields of business, engineering, information technology, or in a similar field, as determined by the department.

560.157(2)(b)

(b) The department shall enter into an agreement with a recipient of a grant under this section that requires the recipient to repay at least one-third of the amount of the grant no later than 2 years after the recipient receives the proceeds of a grant under this subsection. The department shall encourage a recipient to repay additional amounts when the business becomes profitable.

560.157(3)

(3) If the department awards grants under sub. (2) to 3 or more businesses to fund internships for students of a single college or university in this state, the department may award a grant of up to $25,000 to the college or university from the appropriation under s. 20.143 (1) (gv) for costs associated with hiring interns under sub. (2). If the department lacks sufficient funds to award grants to all qualified applicants, the department shall allocate available funds to applicants who have the greatest potential to create jobs in this state.

560.157(4)

(4) The department shall actively pursue gifts and grants from private sources for funding grants under this section.

560.157(5)

(5)

560.157(5)(a)

(a) Not later than 4 years after July 1, 2009, the department shall submit to the legislature under s. 13.172 (2) a report evaluating the effectiveness of grants under this section.

560.157(5)(b)

(b) The department may not award a grant under this section after June 30, 2014.

560.157 - ANNOT.

History: 2009 a. 28.

State Codes and Statutes

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State Codes and Statutes

Statutes > Wisconsin > 560 > 560.157

560.157

560.157 Entrepreneurial assistance grants.

560.157(1)

(1) In this section, "new business" means a business organized in this state on a date not more than 12 months before the date on which the business applies for a grant under this section.

560.157(2)

(2)

560.157(2)(a)

(a) The department may award a grant of up to $3,000 to a new business from the appropriation under s. 20.143 (1) (gv) for the business's expenses in hiring a student of a college or university in this state as a paid intern for the business to assist in conducting research, marketing, business plan development, or other functions relating to the creation of a new business. Grants under this subsection may be used only for the recipient's expenses in hiring students in the fields of business, engineering, information technology, or in a similar field, as determined by the department.

560.157(2)(b)

(b) The department shall enter into an agreement with a recipient of a grant under this section that requires the recipient to repay at least one-third of the amount of the grant no later than 2 years after the recipient receives the proceeds of a grant under this subsection. The department shall encourage a recipient to repay additional amounts when the business becomes profitable.

560.157(3)

(3) If the department awards grants under sub. (2) to 3 or more businesses to fund internships for students of a single college or university in this state, the department may award a grant of up to $25,000 to the college or university from the appropriation under s. 20.143 (1) (gv) for costs associated with hiring interns under sub. (2). If the department lacks sufficient funds to award grants to all qualified applicants, the department shall allocate available funds to applicants who have the greatest potential to create jobs in this state.

560.157(4)

(4) The department shall actively pursue gifts and grants from private sources for funding grants under this section.

560.157(5)

(5)

560.157(5)(a)

(a) Not later than 4 years after July 1, 2009, the department shall submit to the legislature under s. 13.172 (2) a report evaluating the effectiveness of grants under this section.

560.157(5)(b)

(b) The department may not award a grant under this section after June 30, 2014.

560.157 - ANNOT.

History: 2009 a. 28.