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CHAPTER 12 - WYOMING ECONOMIC DEVELOPMENT ACT ARTICLE 1 INGENERAL

 

9-12-101. Short title.

 

This chapter shall be known and may becited as the "Wyoming Economic Development Act."

 

9-12-102. Definitions.

 

(a) As used in this act, the following terms have the followingmeanings, except where the context clearly indicates otherwise:

 

(i) "Board" means the board of directors of thecouncil;

 

(ii) "Council" means the Wyoming business council, thebody corporate created by this article;

 

(iii) "Federal agency" means the United States, thePresident of the United States, and any department, corporation, agency, orinstrumentality heretofore or hereafter created, designated, or established bythe United States;

 

(iv) "Financial aid" means:

 

(A) The infusion of risk capital to persons by makinginvestments for use in the development and exploitation of specific products;

 

(B) The purchase of securities;

 

(C) Royalty agreements;

 

(D) Loans and loan guarantees;

 

(E) Any contractual arrangement in which the council providestechnological services to any person involving the development and exploitationof a specific product.

 

(v) "Person" means natural persons, firms,foundations, associations, corporations, business trusts, partnerships, jointventures, and public bodies, including but not limited to the state of Wyoming,any state, and any agency, department, institution, political subdivision orinstrumentality of Wyoming or any state;

 

(vi) "Product" means any product, device, technique orprocess, which is or may be exploitable commercially and includes products,devices, techniques or processes which have advanced beyond the theoretic stageand are readily capable of being, or have been, reduced to practice butexcludes pure research;

 

(vii) "Venture" means any contractual arrangement withany person whereby the council obtains rights from or in a product or proceedstherefrom in exchange for the granting of financial aid to the person;

 

(viii) "This act" means W.S. 9-12-101 through 9-12-1312.

 

9-12-103. Wyoming business council; creation; composition;compensation; termination; meetings; surety bonds; fiscal control.

 

(a) There is created the Wyoming business council. The councilis a body corporate operating as a state instrumentality operated solely forthe public benefit. As such it shall have, and is hereby vested with, thepowers and duties conferred in this chapter. It shall be governed by a boardof directors consisting of fifteen (15) voting directors, appointed by thegovernor with the advice and consent of the senate. The governor shall be amember and cochairman of the board, but shall not vote. The appointeddirectors shall have demonstrated leadership and business expertise. An equalnumber of directors shall be appointed to initial terms of one (1), two (2) andthree (3) years. Thereafter, directors shall serve for terms of three (3)years. No appointed director shall serve more than two (2) successive three (3)year terms. If a vacancy occurs, the governor shall appoint a successor inaccordance with W.S. 28-12-101. The governor may remove any board member heappoints for cause and shall remove any director who fails to attend three (3)consecutive regular meetings of the council. No appointed council member shallsend a designee to attend a council meeting nor vote by proxy. The board shallselect one (1) of its members to act as cochairman of the board. The boardshall retain a chief executive officer. The chief executive officer serves atthe pleasure of the board. All of the appointed directors shall be appointedat large and at least twelve (12) of the appointed directors shall be residentsof Wyoming.

 

(b) The appointed directors shall receive per diem forattending board meetings in the same amount as state legislators and shallreceive no other compensation for serving on the board. The board shall fix thesalary of the chief executive officer. Subject to the approval of thedirectors, the chief executive officer shall determine the terms of employment,tenure, duties, working conditions, promotion and termination of all otheremployees which the chief executive officer determines are necessary to carryout the purposes and functions of the council. Employees of the council shallbe covered by the Wyoming Retirement Act, the State Employees and OfficialsGroup Insurance Act and the Wyoming Deferred Compensation Act.

 

(c) Upon termination of the council, all its rights andproperties shall pass to and be vested in the state.

 

(d) The council shall determine the date, time, place andmethod of notice for all regular meetings of the council. A majority of thevoting directors of the council constitutes a quorum for the transaction of anybusiness or the exercise of any power or function of the council. Matters shallbe decided by a majority vote of the voting members of the council. Asunanimously determined by the council members, the council may take action byconference telephone or similar communications equipment whereby all personsparticipating in the meeting can hear each other at the same time.

 

(e) The council may execute and maintain at its expense ablanket surety bond covering each director, the chief executive officer and theemployees or other officers of the council in the penal sum of two hundred fiftythousand dollars ($250,000.00).

 

(f) The council may also form committees and advisory councils,which may include representatives who are not members of the board, toundertake more extensive study and discussion of the issues before the board.

 

(g) Except as specifically provided in this act, the followingprovisions do not apply to the council:

 

(i) W.S. 9-2-1001 through 9-2-1026.1;

 

(ii) W.S. 9-3-101 through 9-3-105;

 

(iii) The Wyoming Administrative Procedure Act.

 

(h) Except as specifically provided in this act, the provisionsof W.S. 16-4-201 through 16-4-205 and 16-4-401 through 16-4-408 shall apply tothe council.

 

9-12-104. General powers and duties of the council.

 

(a) Except as otherwise limited by this act, the council may:

 

(i) Sue and be sued and procure necessary liability insurance;

 

(ii) Have a seal;

 

(iii) Make and execute contracts and other instruments;

 

(iv) Adopt rules and regulations to implement the programs andfunctions assigned to the council by this act. Any rule adopted by the councilshall be submitted to the management council of the legislature in accordancewith W.S. 28-9-101 through 28-9-108, approved by the governor as provided inW.S. 16-3-103(d) and filed with the secretary of state;

 

(v) Acquire or contract to acquire by grant, purchase, optionor otherwise, real, personal or mixed property or any interest in property,including patents, copyrights, trademarks or any other evidence of protectionor exclusivity as to products;

 

(vi) Own, hold, clear, improve and rehabilitate, and sell,assign, exchange, transfer, convey, lease and mortgage real, personal or mixedproperty or otherwise dispose of, or encumber the same;

 

(vii) Grant options to purchase any interest in or asset arisingout of an agreement;

 

(viii) Provide advisory, consultative or educational services,technical assistance and advice to any person in order to carry out thepurposes of the council;

 

(ix) Mortgage or pledge any or all of its revenue, income, orinterest in or asset arising out of a venture agreement;

 

(x) Except as otherwise provided in this act, deposit any fundsof the council in any financial institutions located within the state;

 

(xi) Procure insurance against any loss in connection with itsproperty and other assets and operations in amounts and from insurers it deemsdesirable;

 

(xii) Engage the services of consultants on a contract basis forrendering professional, financial and technical assistance and advice,including for studies and investigation likely to lead to business development;

 

(xiii) Contract for and accept any gifts or grants or loans offunds or property or financial or other aid in any form from the federalgovernment or any agency or instrumentality thereof, or from any other sourceand pass through or otherwise comply, subject to the provisions of thischapter, with the terms and conditions thereof;

 

(xiv) Enter into agreements with persons doing business or whowill do business in this state for the advancement of financial assistance tothose persons for research and the development of specific products, proceduresand techniques to be developed and produced in this state conditioned uponcontractual assurances that the benefits of increasing or maintainingemployment and tax revenues shall remain in and accrue to this state;

 

(xv) Consent to the modification of the terms of any mortgage,loan or contract to which the council is a party;

 

(xvi) Organize, conduct, sponsor or cooperate in and assist theconduct of special institutes, conferences and demonstrations relating to thestimulation and formulation of business development;

 

(xvii) Make investments in projects that have potential tostimulate economic development in the state;

 

(xviii) Render advice and assistance and to provide services tostate agencies, local and regional economic development entities, private firmsand other persons providing services or facilities for economic development inWyoming;

 

(xix) Do all acts and things necessary or convenient to carry outthe powers granted to it by this act or any other act;

 

(xx) Repealed By Laws 2010, Ch. 69, 204.

 

(xxi) Repealed by Laws 2008, Ch. 6, 2.

 

(b) The board, consistent with this act, shall developguidelines for each of the areas specified in subsection (a) of this sectionrelative to definitions, types of grants or loans, level of funding andrepayment requirements.

 

9-12-105. Economic development services.

 

(a) It shall be the duty of the council to encourage, stimulateand support the development and expansion of the economy of the state. Thecouncil is charged with the following duties and responsibilities:

 

(i) To see that there are prepared and carried out effectiveeconomic development marketing and promotional programs;

 

(ii) To make available, in conjunction and cooperation withlocalities, chambers of commerce, industrial authorities and other public andprivate groups, to prospective new businesses basic information and pertinentfactors of interest and concern to such businesses;

 

(iii) To formulate, promulgate and advance programs throughoutthe state for encouraging the location of new businesses in the state and theretention and growth of existing businesses;

 

(iv) To encourage and solicit private sector involvement,support and funding for economic development in the state;

 

(v) To encourage the coordination of the economic developmentefforts of public institutions, regions, communities and private industry andcollect and maintain data on the development and utilization of economicdevelopment capabilities;

 

(vi) To establish such offices within and without the state thatare necessary to the expansion and development of industries and trade. Thecouncil shall establish economic development regions and offices within thestate based upon socioeconomic and geographic similarities;

 

(vii) To encourage the export of products and services from thestate to national and international markets; and

 

(viii) To advise the University of Wyoming and the Wyomingcommunity college commission in designating technical training and othereducational programs in Wyoming's community colleges and the University ofWyoming beneficial to economic development activities in this state.

 

9-12-106. Planning and research.

 

(a) It shall also be the duty of the council to:

 

(i) Develop a comprehensive economic development strategy forthe state, starting the first year of each new gubernatorial administration,consistent with the provisions of this act; and

 

(ii) Conduct such studies and research, in collaboration withstate agencies, university and community colleges, local and regionalindustrial authorities and organizations, and other persons within and withoutthe state, as the council may deem necessary, to assist in the development ofthe comprehensive economic strategy and the development of recommendations andadvice on the improvement of economic development and related programs andstrategies across the state.

 

(b) The council may establish a Wyoming market research centerto conduct regional, national and international market research for Wyomingmanufacturers and to conduct market feasibility studies for value addedprojects across all economic sectors, including agriculture. If a center isformed:

 

(i) The council and center shall develop a plan to phase-infees for services and a formula for commissions payable by manufacturers forsales which are directly attributable to the center's research. The plan shallbe directed to make the center self-sufficient by July 1, 2003;

 

(ii) The center may utilize the services of student interns fromthe University of Wyoming and community colleges to provide those students withpractical marketing experience.

 

9-12-107. Tourism promotion and development.

 

(a) Repealed By Laws 2007, Ch. 5, 2.

 

(b) Repealed By Laws 2003, Ch. 8, 2.

 

9-12-108. Coordination of business permits.

 

(a) The council shall:

 

(i) Compile information on the federal, state and localrequirements necessary to begin and operate a business in Wyoming and make thisinformation available to the public on request;

 

(ii) Develop application procedures to expedite the statelicensing and permitting process;

 

(iii) Assist prospective businesses in obtaining the necessaryfederal, state and local permits and licenses;

 

(iv) Encourage and facilitate the participation of federal,state and local government agencies in permit and license coordination;

 

(v) Review permit requirements and the value to the state ofthese permits and prepare recommendations for changes for submission to theappropriate agency, the governor and the legislature.

 

(b) The council may request assistance from any state agency tocarry out its duties under this section. State agencies shall cooperate withthe request for assistance.

 

9-12-109. Promotion of agriculture.

 

Thecouncil shall encourage and promote the development of agriculture in the stateincluding horticulture, apiculture, livestock, poultry, dairying and thekindred industries and including the development of new value-addedagribusiness and product uses and markets for Wyoming agricultural products.

 

9-12-110. Exemptions from taxation; exceptions.

 

Theexercise of the powers granted by this act constitutes the performance of anessential governmental function. The council shall not be required to pay anytaxes levied by any municipality or political subdivision of the state, otherthan to comply with the Wyoming employment security law and for assessments forlocal improvements, upon its property or monies. Except as provided herein, thecouncil's monies and the income therefrom, shall be free from taxation of everykind by the state, municipalities and political subdivisions of the state.

 

9-12-111. Investment and management of funds; audit.

 

(a) Except as otherwise provided in this act, the council mayinvest funds not required for immediate disbursement in securities in whichstate funds may be invested as provided by law, sell securities it haspurchased and deposit securities in any financial institution. Funds depositedin financial institutions shall be secured by obligations authorized aspermissible security for state investments. In investing and managing itsfunds, the council shall exercise the judgment and care which persons ofprudence, discretion and intelligence would exercise under similarcircumstances in managing the permanent disposition of their funds, consideringthe probable income and the probable safety of their capital.

 

(b) The director of the department of audit or his designeeshall conduct an audit of the books and accounts of the council. Theexamination shall include a financial and compliance audit of the council'soperations as the examiner deems appropriate. The audit shall be conducted atleast once in each year and copies of the audit report shall be filed with thesecretary of state, the joint minerals, business and economic developmentcommittee and the legislative service office.

 

9-12-112. Annual report and budget.

 

(a) The council shall submit an annual report in the mannerprovided by W.S. 9-2-1014 and using the benchmarks prescribed in this act. Inaddition to the requirements of W.S. 9-2-1014, included within the annualreport shall be:

 

(i) The status of the implementation of the comprehensiveeconomic development strategy and recommended legislative and executive actionsrelated to the implementation of the comprehensive economic developmentstrategy;

 

(ii) A summary of the total investments made by the councilunder the Wyoming partnership challenge loan program, article 3 of thischapter, including:

 

(A) The name of each borrower and the amount of each loan;

 

(B) An evaluation of the loan success in economic developmentusing appropriate performance indicators as identified by the council;

 

(C) The cost of the loan program to the people of Wyoming interms of:

 

(I) Forgone interest that could have been obtained if the fundshad been invested by the state treasurer with the permanent funds of the state;

 

(II) Administrative and other costs associated with the program.

 

(D) Revenues and any other benefits obtained from the program.

 

(iii) Repealed By Laws 2003, Ch. 8, 2.

 

(iv) Progress concerning the development of the researchmarketing center and its self-sufficiency under W.S. 9-12-106(b);

 

(v) A report of the film industry financial incentive programas provided in W.S. 9-12-406;

 

(vi) A summary of the total investments made by the councilunder the workforce housing infrastructure program under W.S. 9-12-901 through9-12-905, including:

 

(A) The name of each borrower and the amount of each loan;

 

(B) An evaluation of the loan success in providing workforcehousing infrastructure;

 

(C) The cost of the program to the people of Wyoming in termsof administrative and other costs associated with the program.

 

(b) The council shall submit its budget for review as providedby W.S. 9-2-1010 through 9-2-1014.

 

9-12-113. Conflicts of interest.

 

Councilmembers shall be subject to the provisions of W.S. 16-6-118 and shall abstainfrom voting in accordance with that section.

 

ARTICLE 2 - SCIENCE, TECHNOLOGY AND ENERGY FINANCIAL AID

 

9-12-201. Assumption of science technology and energy authorityfunctions.

 

Inassuming the functions of the science energy and technology authority thecouncil shall administer the program in accordance with the provisions of thisact generally and the specific provisions of this article.

 

9-12-202. Applications for financial aid from the council.

 

(a) All applications for financial aid shall be submitted tothe council who shall investigate and prepare a report concerning theadvisability of approving the proposed financial aid for the applicant andconcerning any other factors deemed relevant by the council.

 

(b) The investigation and report shall include such facts aboutthe applicant under consideration as its history, wage standards, jobopportunities, stability of employment, past and present financial conditionand structure, pro-forma income statements, present and future markets andprospects, integrity of management as well as the feasibility of the proposedproduct to be granted financial aid, including the state of development of theproduct as well as the likelihood of its commercial feasibility.

 

(c) After consideration of the report, the council shallapprove or deny the application. The applicant shall be promptly notified ofthe decision. In making the decision as to approval or denial of anapplication, the council shall give priority to those applicants whereby:

 

(i) The proceeds of the seed capital aid will only be used tocover the initial capitalization needs of the enterprise within Wyoming exceptas otherwise authorized in this article;

 

(ii) The enterprise has a reasonable chance of success;

 

(iii) Participation by the council is necessary to the success ofthe enterprise because funding for the enterprise is unavailable in thetraditional capital markets, or because funding has been offered on terms thatwould substantially hinder the success of the enterprise;

 

(iv) The enterprise seed capital has the reasonable potential tocreate a substantial amount of primary employment within the state;

 

(v) The entrepreneur and other founders of the enterprise havealready made or are contractually committed to make a substantial financial andtime commitment to the enterprise;

 

(vi) There is a reasonable possibility that the council willrecoup at least its initial investment from seed capital contracts; and

 

(vii) Binding commitments have been made to the council by theapplicant for adequate reporting of financial data to the council including arequirement for an annual or other periodic audit of the books of theenterprise, and for control by the council over the management of theenterprise, so as to protect the investment including the right of access tofinancial and other records of the enterprise.

 

(d) In determining the level of financial support to beadvanced, the council shall limit its proportion of financial aid consistentwith the existence of a market failure in product development financing butshall not provide more than twenty percent (20%) of the funds of the councilfor any one (1) project. Any financial aid toward product development financinggranted pursuant to this section shall be equally matched or exceeded by theapplicant. No financial aid granted pursuant to this section shall in anymanner be pledged as collateral by the applicant.

 

(e) Before granting any seed capital financial aid, the councilshall enter into an agreement with the applicant providing for a return to thecouncil which is commensurate with the level of risk and amount of thefinancial aid.

 

ARTICLE 3 - WYOMING PARTNERSHIP CHALLENGE LOAN PROGRAM

 

9-12-301. Definitions.

 

(a) As used in this article:

 

(i) "Business" means any proposed or existingenterprise which employs people within the state, provides services within thestate, uses resources within the state or otherwise adds economic value togoods, services or resources within the state, and includes farm and ranchoperations;

 

(ii) "Community development organization" means agroup of private citizens organized as a business entity authorized to dobusiness in this state for the purpose of providing financing for new,existing, or expanding businesses and other economic or community developmentpurposes throughout its community or county, and which may take equitypositions and shall take security positions in its borrowers' businesses andappropriate personal guarantees from the owners thereof;

 

(iii) "Economic development account" means the economicdevelopment enterprise account within the revolving investment fund createdunder article XVI, section 12 of the Wyoming constitution. The account shallconsist of funds from payments as provided in W.S. 9-12-305 and other funds asprovided by law;

 

(iv) "State development organization" means acorporation organized under W.S. 17-11-101 through 17-11-120 with the authorityto provide financing for new, existing or expanding businesses and to fulfillother economic or community development purposes throughout the state of Wyoming,and which may take equity positions and shall take security positions in itsborrowers' businesses and appropriate personal guarantees from the ownersthereof;

 

(v) "Economic disaster" means an event occurring inWyoming that has an economic impact with total lost revenues to impactedbusinesses in a twelve (12) calendar month period of at least four milliondollars ($4,000,000.00) or an economic impact with total lost revenues toimpacted businesses in four (4) or less counties in a twelve (12) calendarmonth period of at least one million dollars ($1,000,000.00). The businesscouncil may use good faith estimates of lost revenues to businesses indetermining whether an event qualifies as an economic disaster. Calculation oflost revenues shall only include actual losses incurred and shall not includeany future losses;

 

(vi) "Bridge financing" means the provision offinancing for that portion of the total project cost which is calculated bysubtracting from total project cost the sum of ownership debt and equity. Thecouncil shall not consider a proposal in which the bridge financing componentexceeds thirty-five percent (35%) of total project cost or five hundredthousand dollars ($500,000.00), whichever is less, and the business does notcontribute more than fifteen percent (15%) of the total project cost;

 

(vii) "Guarantee loan participation" means a provisionof financing by the council in which the council participates with a lenderthat has secured a federal guaranteed loan to guarantee repayment of a loanmade to a business. The maximum participation by the council shall be fiftypercent (50%) of the loan or one million dollars ($1,000,000.00), whichever isless;

 

(viii) "Loan guarantee" means a provision of financingby the council in which the council guarantees a portion of a bank loan made toa business;

 

(ix) "Wyoming main street loan participation" means aprovision of financing by the council in which the council participates with alender that has made a loan to a business for building improvements to maintainthe structure's historical character. The maximum participation by the councilshall be seventy-five percent (75%) of the loan or one hundred thousand dollars($100,000.00), whichever is less.

 

9-12-302. Wyoming partnership challenge loan program; creation;rulemaking; administration account.

 

(a) The council shall establish and administer a partnershipchallenge loan program under this article and may contract for necessaryprofessional services. Loans authorized under the program shall be limited,except as otherwise provided under W.S. 9-12-304(c) through (g), to communitydevelopment organizations and state development organizations and made inaccordance with the provisions of W.S. 9-12-304. Any community developmentorganization or state development organization may submit an application to thecouncil to participate in the program on forms prescribed by and subject torules promulgated by the council.

 

(b) The council, shall establish all fees and interest rates tobe charged for each loan as it is underwritten for this program. The interestrate for loans made under this program shall be not less than four percent (4%)per annum. Fees on loans under the program shall be paid monthly and depositedinto a program administration account which is continuously appropriated to thecouncil to be expended solely for the purpose of administering this article andloans authorized under it.

 

9-12-303. Council duties; actions on loan applications.

 

Allcomplete applications to participate in the loan program established under thisarticle which conform with the criteria established by law and rulespromulgated under this article which are submitted to the council shall beconsidered by the council. The council shall review the application and maycommunicate directly with the applicant and other lenders or potential lendersof the applicant. The council shall approve or disapprove each application itconsiders in accordance with this article and rules promulgated under it. Inmaking its determination under this section, the council shall considerwhether approval of the application would cause unfair competition with anyexisting business in the area. The council shall establish loan amortizationschedules, terms and conditions for each loan approved.

 

9-12-304. Criteria for loans.

 

(a) Except as otherwise provided under subsections (c) through(g) of this section, loans under this article may only be made by the councilto community development organizations and state development organizationswhich meet the following eligibility criteria:

 

(i) The community development organization or state developmentorganization will contribute an amount of cash or cash equivalent at leastequal to the loan it receives under this article to a program of investment inits area of local economic development;

 

(ii) The community development organization or state developmentorganization will consolidate the loan it receives under this article and itsrequired contribution under paragraph (i) of this subsection and make loans toWyoming businesses and investments in support of Wyoming businesses, such asinfrastructure construction loans and occupational training loans;

 

(iii) The community development organization has been endorsed bya resolution of the legislative body of its municipality or county or, in thecase of a state development organization, has been endorsed by a resolution ofthe council; and

 

(iv) As part of any agreement under this article and to ensurefunds loaned or committed under this section are invested by the communitydevelopment organization or the state development organization in localeconomic development in a reasonable period of time, the council shall reservethe right to terminate the agreement.

 

(b) Loans, loan commitments or loan guarantees or anycombination thereof shall be made under this article only:

 

(i) If the total amount to a single community developmentorganization, or to a business for an economic disaster loan as provided undersubsection (c) of this section or to a business for bridge financing asprovided under subsection (d) of this section, does not exceed five hundredthousand dollars ($500,000.00), if the total amount to state developmentorganizations does not exceed three million five hundred thousand dollars($3,500,000.00), if the amount to a business for a federally guaranteed loan asprovided under subsection (e) of this section does not exceed one milliondollars ($1,000,000.00), if the amount to a business for a loan guarantee doesnot exceed one hundred thousand dollars ($100,000.00) per loan guaranteed oreighty percent (80%) of any net loan loss by the bank, whichever is less or ifthe amount to a business for a Wyoming main street loan participation asprovided under subsection (g) of this section does not exceed one hundredthousand dollars ($100,000.00);

 

(ii) If there are sufficient funds in the economic developmententerprise account to fully fund it and all other outstanding commitments,loans, loan guarantees and guarantee loan participations;

 

(iii) If funds provided by the state are adequatelycollateralized. The adequacy of the collateral shall be determined by thecouncil;

 

(iv) Repealed By Laws 2010, Ch. 69, 208.

 

(c) Any business or group of businesses may apply to the councilfor designation of an area of this state as an area in which an economicdisaster as defined in W.S. 9-12-301(a)(v) has occurred. The council shallprescribe the form and contents of such applications. The council shall revieweach application and make a determination as soon as practicable as to whetheran economic disaster area designation shall be made. The council may make loansto any business located within the designated economic disaster area that haslost revenue as a result of the economic disaster. Subsection (a) of thissection does not apply to economic disaster loans under this subsection.

 

(d) Any business may apply to the council for bridge financingas defined in W.S. 9-12-301(a)(vi). The council shall prescribe the form andcontents of such application. The council shall review each application andmake a determination as soon as practicable. In the event of a default for anyloan made under this subsection, liability shall be shared proportionatelybetween the state and the lending institution in the same percentage as thesource of the loan. The interest of the state and the lending institution shallhave priority over any claim of the business receiving the bridge financing orany other third party.

 

(e) Any business may apply to the council for a guarantee loanparticipation as defined in W.S. 9-12-301(a)(vii). The council shall prescribethe form and contents of the application. The council shall review eachapplication and make a determination as soon as practicable. The council shallstructure any guarantee loan participation so that in the event of default ofany loan which is participated in under this subsection:

 

(i) Liability shall be shared proportionally between the stateand the lending institution in the same percentage as the source of the fundingfor the loan; and

 

(ii) The interest of the state and the lending institution shallhave priority over any claim of the business receiving the financing or anyother third party.

 

(f) Any business may apply to the council for a loan guaranteeas defined in W.S. 9-12-301(a)(viii). The council shall prescribe the form andcontents of the application. The council shall review each application andmake a determination as soon as practicable. The council shall structure any loanguarantee so that in the event of default of any loan that is guaranteed underthis subsection:

 

(i) Liability to the state under the guarantee shall not exceedone hundred thousand dollars ($100,000.00) per loan guaranteed or eightypercent (80%) of any net loan loss by the bank, whichever is less; and

 

(ii) The interest of the state and the lending institution shallhave priority over any claim of the business receiving the financing or otherthird party.

 

(g) Any business may apply to the council for a Wyoming mainstreet loan participation as defined in W.S. 9-12-301(a)(ix). The councilshall prescribe the form and contents of the application. The council shallreview each application and make a determination as soon as practicable. Inthe event of a default for any loan made under this subsection, liability shallbe shared proportionately between the state and the lender in the samepercentage as the source of the loan. The interest of the state and the lendershall have priority over any claim of the business receiving the main streetloan participation or any other third party.

 

9-12-305. Economic development enterprise fund account; deposits;continuous appropriation; loans.

 

Exceptfor fees deposited in accordance with W.S. 9-12-302(b), all repayments ofprincipal and interest to the state in connection with loans made under thisarticle and other funds as appropriated by the legislature for the challengeloan program shall be deposited into the economic development enterpriseaccount within the revolving investment fund. All funds in the account may beused for and are continuously appropriated for loans authorized to be madeunder this article. The total principal balance of outstanding loans shall notexceed the amounts appropriated by the legislature plus interest accrued andcollected less any losses of loan principal or interest.

 

9-12-306. Audit; report.

 

(a) The director of the state department of audit or hisdesignee shall annually examine the loan program created under this article andsubmit his report of examination to the governor, the legislature and thecouncil. This examination shall include a financial and compliance audit of thecouncil's operations, and such financial audit of borrowers under this articleas the examiner deems appropriate. As a condition of any loan under thisarticle, the borrower shall agree to allow the examiner to examine its booksand records. The examiner shall treat all proprietary information received inthe course of the examination or audit as confidential.

 

(b) On or before July 15 of each year, the council shall submita written report to the joint minerals, business and economic developmentinterim committee reviewing rules adopted by the council during the reportingperiod, presenting a portfolio of loans made under the program and presenting arisk analysis of the portfolio of loans prepared by the state bankingcommissioner. The report, portfolio of loans and risk analysis required underthis subsection shall be public records. The risk analysis prepared by thestate banking commissioner shall not be subject to the limitations of W.S.9-1-512.

 

9-12-307. Penalty.

 

Anyperson who knowingly makes a false statement to the council in connection withan application under this article or article 9 of this chapter is guilty of afelony punishable by imprisonment for not more than two (2) years, a fine ofnot more than two thousand dollars ($2,000.00), or both.

 

ARTICLE 4 - FILM AND VIDEO PROMOTION

 

9-12-401. Repealed By Laws 2003, Ch. 8, 2.

 

 

9-12-402. Film industry financial incentive program; creation.

 

There is created the film industry financial incentiveprogram to encourage the use of this state as a site for filming and providingproduction services for filmed entertainment. The program shall beadministered by the Wyoming tourism board.

 

9-12-403. Film industry financial incentive program; definitions.

 

(a) As used in this article:

 

(i) "Filmed entertainment" means any one (1) motionpicture, television production, commercial or music video to be sold ordisplayed in electronic medium or film motion pictures;

 

(ii) "Production costs" means the total cost ofproducing filmed entertainment;

 

(iii) "Program" means the film industry financialincentive program created under this article;

 

(iv) "Qualified expenditures" mean expenditures forgoods purchased or leased or services purchased, leased or employed from avendor or supplier who is located and doing business in this state if theexpenditure was made in this state and was made for a qualified production. Qualified expenditures for which reimbursement may be made are limited to:

 

(A) Salaries and employment benefits for services rendered inand to residents of this state;

 

(B) Rents for real and personal property located in this stateused in the production;

 

(C) Payments for preproduction, production, post-production anddigital media effects services provided in this state;

 

(D) Costs of set construction provided in this state.

 

(v) "Qualified production" means filmed entertainmenttotally or partially produced and filmed in this state that would havewidespread public appeal and would likely encourage members of the public tovisit the state of Wyoming;

 

(vi) "Board" means the Wyoming tourism board.

 

9-12-404. Film industry financial incentive program; reimbursementeligibility; submission of required documentation; payment.

 

(a) The board may contract with the makers of a qualifiedproduction to provide a reimbursement of up to fifteen percent (15%) of theproduction's qualified expenditures if a minimum of two hundred thousanddollars ($200,000.00) in total qualified expenditures are made.

 

(b) The sum of all contractual obligations under this sectionshall not exceed the total appropriation available for the program for anyfiscal biennium.

 

(c) A qualified production applying for a payment under thissection shall submit documentation for claimed qualified expenditures to theboard.

 

9-12-405. Film industry financial incentive program; contractrequired; procedure; approval process.

 

(a) The board may contract with any entity engaged in thisstate in producing filmed entertainment for reimbursement of qualifiedexpenditures as provided in this article. The board shall be providedinformation required to determine if the production is a qualified productionand to determine the qualified expenditures, production costs and otherinformation necessary for the council to determine both eligibility for and theappropriate level of reimbursement. No reimbursement shall be made unless theboard has entered into an agreement which provides for adequate considerationto the state in exchange for the reimbursement provided. No reimbursement ofqualified expenditures shall be made by the board until the qualifiedproduction is complete and substantially all contractual commitments made tothe board have been fulfilled. If a qualified production is not completedaccording to a reasonable schedule, the contract shall be terminated and fundsreallocated to other qualified productions.

 

(b) The board shall establish a process by which a contractunder this article is formulated and executed and reimbursement amounts aredetermined. The board shall require information including, but not limited to:

 

(i) Production related employment;

 

(ii) Proposed total production budgets;

 

(iii) Planned expenditures in this state which are intended foruse exclusively as an integral part of preproduction, production orpost-production activities engaged in primarily in this state; and

 

(iv) A signed affidavit by a person authorized to commit theentity that the information provided to the board has been verified and iscorrect.

 

(d) The board shall not contract with any qualified productionfor reimbursement of qualified expenditures under this article unless the boarddetermines that adequate consideration to the state in exchange for thereimbursement will be provided under the contract. The reimbursement shall notexceed the amount of measurable benefit gained by the state resulting from thequalified production expenditures. The consideration may include but is notlimited to:

 

(i) Providing a storyline that is set in Wyoming;

 

(ii) Providing additional Wyoming behind the scenes footage;

 

(iii) Using Wyoming props and product placement; and

 

(iv) Providing a clear statement in the credits that the productwas filmed in Wyoming.

 

9-12-406. Film industry financial incentive program; rules andregulations; fraudulent claims; reporting.

 

(a) The board may adopt rules and regulations to implement thisarticle, including, but not limited to, requirements for the contract process,requirements for substantial completion of contractual commitments, recordsrequired for submission for substantiation of reimbursement and determinationof and qualification for reimbursement.

 

(b) An entity that obtains payment under this article through aclaim that is fraudulent is liable for reimbursement of the amount paid plus anamount double the payment plus reimbursement of reasonable costs. The amountsunder this subsection are in addition to any criminal penalty for which theentity is liable for the same acts. The entity shall also be liable for costsand fees incurred by the state in investigating and prosecuting the fraudulentclaim.

 

(c) The board shall report to the joint travel, recreation,wildlife and cultural resources interim committee and the joint appropriationsinterim committee by October 1 each year, expenditures under this article andthe return to the state on funds expended pursuant to this article.

 

9-12-407. Sunset provision.

 

W.S. 9-12-402 through 9-12-406 are repealed effective June30, 2011.

 

ARTICLE 5 - WYOMING COUNCIL FOR WOMEN'S ISSUES

 

9-12-501. Creation; areas of attention.

 

(a) The Wyoming council for women's issues is created withinthe Wyoming business council. The council for women's issues shall focusattention on the status of women in Wyoming with emphasis on the followingareas:

 

(i) Employment practices;

 

(ii) Educational opportunities;

 

(iii) Home and community;

 

(iv) Legal rights and responsibilities.

 

(b) As used in this article, unless otherwise specified,"council" means the Wyoming council for women's issues.

 

9-12-502. Membership; term; appointments; vacancies; removal;officers; acceptance of gifts and donations; expenses.

 

(a) The council shall be composed of fourteen (14) members,each of whom shall serve for a term of six (6) years. The governor shall makethe appointments and fill any vacancies for unexpired terms. The governor mayremove any member as provided in W.S. 9-1-202. The council shall be composed ofone (1) woman from each of the judicial districts in the state, four (4)persons chosen at large and the chief executive officer of the Wyoming businesscouncil or his designee who shall be an ex officio member. Not more than nine(9) members shall be from the same political party. Of the initial membersappointed from each of the judicial districts, three (3) members shall beappointed for terms of two (2) years, three (3) members shall be appointed forterms of four (4) years and three (3) members shall be appointed for terms ofsix (6) years.

 

(b) The council shall elect a chairman and vice-chairman fromits members. The Wyoming business council may employ a secretary on a part-timebasis to assist the council. The council may accept gifts and donations.

 

(c) Members of the council shall receive no compensation butshall be reimbursed under W.S. 9-3-102 and 9-3-103 for per diem and travelexpenses incurred in the performance of their duties.

 

ARTICLE 6 - COMMUNITY INFRASTRUCTURE PROGRAM

 

9-12-601. Wyoming business ready community program; purpose; creation;rulemaking.

 

(a) It is the purpose of this article to promote economicdevelopment at the city, town and county level in order to create additionaleconomic health and a stronger state economy.

 

(b) The council shall establish and administer a Wyomingbusiness ready community program as provided by this article. Any city, town orcounty may submit an application to the council for a grant or loan under theprogram on forms prescribed by and subject to rules promulgated by thecouncil. Grants or loans may be applied for by a joint powers board with theapproval of all participating agencies to the joint powers agreement. Grants andloans may be made by the council for economic or educational developmentinfrastructure projects, including the purchase of land, buildings, facilities,telecommunications infrastructure, rights of way, airports, sewer and waterprojects, roads, landscaping, recreational and convention facilities or otherinfrastructure determined by the council to be consistent with the purposes ofthis article. In adopting rules and making grants and loans under this articlethe council shall require all projects to be related to economic or educationaldevelopment infrastructure, which shall not include rehabilitation or expansionof existing infrastructure unless the council determines the rehabilitation orexpansion is necessary to meet the purposes of this article. All grants, loansor cooperative agreements made under this article shall be referred by thecouncil to the state loan and investment board for final approval ordisapproval. The state loan and investment board may adopt rules as necessaryto implement its duties under this article.

 

(c) Grants shall be matching grants as determined by thecouncil. Loans shall be made at no or low interest rates.

 

(d) Grants or loans shall be made under this article, only ifthe applicant demonstrates that upon receipt of the grant or loan, allprojected project costs will be funded. Grants or loans for one (1) project maynot exceed a maximum annual amount established by rule of the council.Multi-year projects may be awarded up to the maximum annual amount each year,for a period not to exceed three (3) years, as approved by the state loan andinvestment board. The application shall identify the source of all funds to beused for the project.

 

(e) Grants or loans may be used to fund project costs inaccordance with approved applications and rules of the council. Grant or loanfunds may be used to contract with community development organizations andstate development organizations in accordance with the purposes of this articleand approved applications.

 

(f) Loans provided under this article shall be adequatelycollateralized as determined by the council. No loans shall be made without thewritten opinion of the attorney general certifying the legality of thetransaction and all documents connected therewith. An election approving theproject and borrowing for the project by the qualified electors of theborrowing entity shall be required only if the attorney general determines suchan election is otherwise required by law.

 

(g) Repayments of loans under this section shall be credited tothe business ready community account.

 

(h) The council may also enter into cooperative agreements withthe Eastern Shoshone Tribe and the Northern Arapaho Tribe in order to promotethe purposes of this article.

 

(j) Grants may be made by the council for projects, inaccordance with rules of the council, which:

 

(i) Improve the development of businesses that will providedata generation and information technology storage capabilities statewide or inmunicipalities of the state;

 

(ii) Encourage and provide for the expansion of existingbusinesses providing information technology storage enterprises in the state,including those developed through the University of Wyoming business technologycenter;

 

(iii) Provide a reduction of the costs of electrical power orbandwidth, or both, to businesses meeting the provisions of paragraph (j)(i) or(ii) of this section. In exchange for providing these reductions in costs, thepolitical subdivision receiving the grant and providing the reduction in costsshall contract with the business to receive direct benefits and indirecteconomic development benefits including:

 

(A) A specific amount of capital investment by the business;

 

(B) A specific minimum payroll created by the business;

 

(C) The provision of information technology storage services tothe state or the political subdivision at a price discounted from the fairmarket value of the services; and

 

(D) An agreement to repay with a reasonable rate of return anyfunds received to reduce costs if the business relocates from the politicalsubdivision prior to the expiration of five (5) years from the date of firstreceiving funds.

 

(k) As used in this article:

 

(i) "Community development organization" means asdefined by W.S. 9-12-301(a)(ii);

 

(ii) "State development organization" means as definedby W.S. 9-12-301(a)(iv).

 

9-12-602. Wyoming business ready community program account.

 

There is created the business readycommunity account. Funds shall be credited to the account as provided by law.Funds in the account are continuously appropriated to the council to be usedonly for cooperative agreements, grants or loans authorized to be made underthis article.

 

9-12-603. Council duties; actions on grant and loan applications.

 

All complete applications to participate inthe grant and loan program established under this article which conform withthe criteria established by law and rules promulgated under this article whichare submitted to the council shall be considered by the council. The councilshall approve or disapprove each application it considers in accordance withthis article and rules of the council.

 

ARTICLE 7 - AIR SERVICES FINANCIAL AID

 

9-12-701. Amended and Renumbered as W.S. 10-3-601 by Laws 2005, ch.13, 1.

 

9-12-702. Amended and Renumbered as W.S. 10-3-602 By Laws 2005, ch.13, 1.

 

 

ARTICLE 8 - WYOMING COMMUNITY FACILITIES PROGRAM

 

9-12-801. Wyoming community facilities program; purpose; creation;administration by council; rulemaking authority; eligible projects.

 

(a) It is the purpose of this article to assist communities topreserve former school and government facilities that have existing or futurecommunity uses.

 

(b) The council shall administer a Wyoming community facilitiesprogram as provided by this article, subject to the approval of grants andloans by the state loan and investment board as provided by this article.

 

(c) Any qualifying community with a demonstrated need for acommunity facility, including a city, town, county, joint powers board or otherlocal governmental entity, may submit an application to the council for a grantor loan under this program on forms prescribed by and subject to rulespromulgated by the council. Application by a joint powers board shall requirethe approval of all participating agencies to the joint powers agreement.

 

(d) Grants or loans may be recommended by the council andawarded by the state loan and investment board for economic developmentcommunity facilities projects which provide:

 

(i) Space for community gatherings and functions;

 

(ii) Appropriate recreational, swimming and athletic facilitiesfor community members, particularly youth;

 

(iii) Other functions or uses determined by the council to beconsistent with the purposes of this article.

 

(e) In adopting rules and recommending grants and loans underthis article, the council shall require all projects to be related to economicdevelopment or enhancement of quality of life in a community. Projects mayconsist of:

 

(i) The expansion, renovation or remodeling of existing surplusgovernment facilities;

 

(ii) The purchase of an interest in or cooperative agreementsfor the expansion, renovation or conversion of school facilities to the extentthe facilities exceed statewide school building and facility adequacy standardsestablished by the school facilities commission under W.S. 21-15-115. Noownership interest to the project or facility under a project shall remain withthe school district upon expenditure of any funds under this program for anyproject.

 

(f) All grants, loans or cooperative agreements recommended bythe council shall be referred by the council to the state loan and investmentboard for final approval or disapproval in accordance with this article.

State Codes and Statutes

Statutes > Wyoming > Title9 > Chapter12

CHAPTER 12 - WYOMING ECONOMIC DEVELOPMENT ACT ARTICLE 1 INGENERAL

 

9-12-101. Short title.

 

This chapter shall be known and may becited as the "Wyoming Economic Development Act."

 

9-12-102. Definitions.

 

(a) As used in this act, the following terms have the followingmeanings, except where the context clearly indicates otherwise:

 

(i) "Board" means the board of directors of thecouncil;

 

(ii) "Council" means the Wyoming business council, thebody corporate created by this article;

 

(iii) "Federal agency" means the United States, thePresident of the United States, and any department, corporation, agency, orinstrumentality heretofore or hereafter created, designated, or established bythe United States;

 

(iv) "Financial aid" means:

 

(A) The infusion of risk capital to persons by makinginvestments for use in the development and exploitation of specific products;

 

(B) The purchase of securities;

 

(C) Royalty agreements;

 

(D) Loans and loan guarantees;

 

(E) Any contractual arrangement in which the council providestechnological services to any person involving the development and exploitationof a specific product.

 

(v) "Person" means natural persons, firms,foundations, associations, corporations, business trusts, partnerships, jointventures, and public bodies, including but not limited to the state of Wyoming,any state, and any agency, department, institution, political subdivision orinstrumentality of Wyoming or any state;

 

(vi) "Product" means any product, device, technique orprocess, which is or may be exploitable commercially and includes products,devices, techniques or processes which have advanced beyond the theoretic stageand are readily capable of being, or have been, reduced to practice butexcludes pure research;

 

(vii) "Venture" means any contractual arrangement withany person whereby the council obtains rights from or in a product or proceedstherefrom in exchange for the granting of financial aid to the person;

 

(viii) "This act" means W.S. 9-12-101 through 9-12-1312.

 

9-12-103. Wyoming business council; creation; composition;compensation; termination; meetings; surety bonds; fiscal control.

 

(a) There is created the Wyoming business council. The councilis a body corporate operating as a state instrumentality operated solely forthe public benefit. As such it shall have, and is hereby vested with, thepowers and duties conferred in this chapter. It shall be governed by a boardof directors consisting of fifteen (15) voting directors, appointed by thegovernor with the advice and consent of the senate. The governor shall be amember and cochairman of the board, but shall not vote. The appointeddirectors shall have demonstrated leadership and business expertise. An equalnumber of directors shall be appointed to initial terms of one (1), two (2) andthree (3) years. Thereafter, directors shall serve for terms of three (3)years. No appointed director shall serve more than two (2) successive three (3)year terms. If a vacancy occurs, the governor shall appoint a successor inaccordance with W.S. 28-12-101. The governor may remove any board member heappoints for cause and shall remove any director who fails to attend three (3)consecutive regular meetings of the council. No appointed council member shallsend a designee to attend a council meeting nor vote by proxy. The board shallselect one (1) of its members to act as cochairman of the board. The boardshall retain a chief executive officer. The chief executive officer serves atthe pleasure of the board. All of the appointed directors shall be appointedat large and at least twelve (12) of the appointed directors shall be residentsof Wyoming.

 

(b) The appointed directors shall receive per diem forattending board meetings in the same amount as state legislators and shallreceive no other compensation for serving on the board. The board shall fix thesalary of the chief executive officer. Subject to the approval of thedirectors, the chief executive officer shall determine the terms of employment,tenure, duties, working conditions, promotion and termination of all otheremployees which the chief executive officer determines are necessary to carryout the purposes and functions of the council. Employees of the council shallbe covered by the Wyoming Retirement Act, the State Employees and OfficialsGroup Insurance Act and the Wyoming Deferred Compensation Act.

 

(c) Upon termination of the council, all its rights andproperties shall pass to and be vested in the state.

 

(d) The council shall determine the date, time, place andmethod of notice for all regular meetings of the council. A majority of thevoting directors of the council constitutes a quorum for the transaction of anybusiness or the exercise of any power or function of the council. Matters shallbe decided by a majority vote of the voting members of the council. Asunanimously determined by the council members, the council may take action byconference telephone or similar communications equipment whereby all personsparticipating in the meeting can hear each other at the same time.

 

(e) The council may execute and maintain at its expense ablanket surety bond covering each director, the chief executive officer and theemployees or other officers of the council in the penal sum of two hundred fiftythousand dollars ($250,000.00).

 

(f) The council may also form committees and advisory councils,which may include representatives who are not members of the board, toundertake more extensive study and discussion of the issues before the board.

 

(g) Except as specifically provided in this act, the followingprovisions do not apply to the council:

 

(i) W.S. 9-2-1001 through 9-2-1026.1;

 

(ii) W.S. 9-3-101 through 9-3-105;

 

(iii) The Wyoming Administrative Procedure Act.

 

(h) Except as specifically provided in this act, the provisionsof W.S. 16-4-201 through 16-4-205 and 16-4-401 through 16-4-408 shall apply tothe council.

 

9-12-104. General powers and duties of the council.

 

(a) Except as otherwise limited by this act, the council may:

 

(i) Sue and be sued and procure necessary liability insurance;

 

(ii) Have a seal;

 

(iii) Make and execute contracts and other instruments;

 

(iv) Adopt rules and regulations to implement the programs andfunctions assigned to the council by this act. Any rule adopted by the councilshall be submitted to the management council of the legislature in accordancewith W.S. 28-9-101 through 28-9-108, approved by the governor as provided inW.S. 16-3-103(d) and filed with the secretary of state;

 

(v) Acquire or contract to acquire by grant, purchase, optionor otherwise, real, personal or mixed property or any interest in property,including patents, copyrights, trademarks or any other evidence of protectionor exclusivity as to products;

 

(vi) Own, hold, clear, improve and rehabilitate, and sell,assign, exchange, transfer, convey, lease and mortgage real, personal or mixedproperty or otherwise dispose of, or encumber the same;

 

(vii) Grant options to purchase any interest in or asset arisingout of an agreement;

 

(viii) Provide advisory, consultative or educational services,technical assistance and advice to any person in order to carry out thepurposes of the council;

 

(ix) Mortgage or pledge any or all of its revenue, income, orinterest in or asset arising out of a venture agreement;

 

(x) Except as otherwise provided in this act, deposit any fundsof the council in any financial institutions located within the state;

 

(xi) Procure insurance against any loss in connection with itsproperty and other assets and operations in amounts and from insurers it deemsdesirable;

 

(xii) Engage the services of consultants on a contract basis forrendering professional, financial and technical assistance and advice,including for studies and investigation likely to lead to business development;

 

(xiii) Contract for and accept any gifts or grants or loans offunds or property or financial or other aid in any form from the federalgovernment or any agency or instrumentality thereof, or from any other sourceand pass through or otherwise comply, subject to the provisions of thischapter, with the terms and conditions thereof;

 

(xiv) Enter into agreements with persons doing business or whowill do business in this state for the advancement of financial assistance tothose persons for research and the development of specific products, proceduresand techniques to be developed and produced in this state conditioned uponcontractual assurances that the benefits of increasing or maintainingemployment and tax revenues shall remain in and accrue to this state;

 

(xv) Consent to the modification of the terms of any mortgage,loan or contract to which the council is a party;

 

(xvi) Organize, conduct, sponsor or cooperate in and assist theconduct of special institutes, conferences and demonstrations relating to thestimulation and formulation of business development;

 

(xvii) Make investments in projects that have potential tostimulate economic development in the state;

 

(xviii) Render advice and assistance and to provide services tostate agencies, local and regional economic development entities, private firmsand other persons providing services or facilities for economic development inWyoming;

 

(xix) Do all acts and things necessary or convenient to carry outthe powers granted to it by this act or any other act;

 

(xx) Repealed By Laws 2010, Ch. 69, 204.

 

(xxi) Repealed by Laws 2008, Ch. 6, 2.

 

(b) The board, consistent with this act, shall developguidelines for each of the areas specified in subsection (a) of this sectionrelative to definitions, types of grants or loans, level of funding andrepayment requirements.

 

9-12-105. Economic development services.

 

(a) It shall be the duty of the council to encourage, stimulateand support the development and expansion of the economy of the state. Thecouncil is charged with the following duties and responsibilities:

 

(i) To see that there are prepared and carried out effectiveeconomic development marketing and promotional programs;

 

(ii) To make available, in conjunction and cooperation withlocalities, chambers of commerce, industrial authorities and other public andprivate groups, to prospective new businesses basic information and pertinentfactors of interest and concern to such businesses;

 

(iii) To formulate, promulgate and advance programs throughoutthe state for encouraging the location of new businesses in the state and theretention and growth of existing businesses;

 

(iv) To encourage and solicit private sector involvement,support and funding for economic development in the state;

 

(v) To encourage the coordination of the economic developmentefforts of public institutions, regions, communities and private industry andcollect and maintain data on the development and utilization of economicdevelopment capabilities;

 

(vi) To establish such offices within and without the state thatare necessary to the expansion and development of industries and trade. Thecouncil shall establish economic development regions and offices within thestate based upon socioeconomic and geographic similarities;

 

(vii) To encourage the export of products and services from thestate to national and international markets; and

 

(viii) To advise the University of Wyoming and the Wyomingcommunity college commission in designating technical training and othereducational programs in Wyoming's community colleges and the University ofWyoming beneficial to economic development activities in this state.

 

9-12-106. Planning and research.

 

(a) It shall also be the duty of the council to:

 

(i) Develop a comprehensive economic development strategy forthe state, starting the first year of each new gubernatorial administration,consistent with the provisions of this act; and

 

(ii) Conduct such studies and research, in collaboration withstate agencies, university and community colleges, local and regionalindustrial authorities and organizations, and other persons within and withoutthe state, as the council may deem necessary, to assist in the development ofthe comprehensive economic strategy and the development of recommendations andadvice on the improvement of economic development and related programs andstrategies across the state.

 

(b) The council may establish a Wyoming market research centerto conduct regional, national and international market research for Wyomingmanufacturers and to conduct market feasibility studies for value addedprojects across all economic sectors, including agriculture. If a center isformed:

 

(i) The council and center shall develop a plan to phase-infees for services and a formula for commissions payable by manufacturers forsales which are directly attributable to the center's research. The plan shallbe directed to make the center self-sufficient by July 1, 2003;

 

(ii) The center may utilize the services of student interns fromthe University of Wyoming and community colleges to provide those students withpractical marketing experience.

 

9-12-107. Tourism promotion and development.

 

(a) Repealed By Laws 2007, Ch. 5, 2.

 

(b) Repealed By Laws 2003, Ch. 8, 2.

 

9-12-108. Coordination of business permits.

 

(a) The council shall:

 

(i) Compile information on the federal, state and localrequirements necessary to begin and operate a business in Wyoming and make thisinformation available to the public on request;

 

(ii) Develop application procedures to expedite the statelicensing and permitting process;

 

(iii) Assist prospective businesses in obtaining the necessaryfederal, state and local permits and licenses;

 

(iv) Encourage and facilitate the participation of federal,state and local government agencies in permit and license coordination;

 

(v) Review permit requirements and the value to the state ofthese permits and prepare recommendations for changes for submission to theappropriate agency, the governor and the legislature.

 

(b) The council may request assistance from any state agency tocarry out its duties under this section. State agencies shall cooperate withthe request for assistance.

 

9-12-109. Promotion of agriculture.

 

Thecouncil shall encourage and promote the development of agriculture in the stateincluding horticulture, apiculture, livestock, poultry, dairying and thekindred industries and including the development of new value-addedagribusiness and product uses and markets for Wyoming agricultural products.

 

9-12-110. Exemptions from taxation; exceptions.

 

Theexercise of the powers granted by this act constitutes the performance of anessential governmental function. The council shall not be required to pay anytaxes levied by any municipality or political subdivision of the state, otherthan to comply with the Wyoming employment security law and for assessments forlocal improvements, upon its property or monies. Except as provided herein, thecouncil's monies and the income therefrom, shall be free from taxation of everykind by the state, municipalities and political subdivisions of the state.

 

9-12-111. Investment and management of funds; audit.

 

(a) Except as otherwise provided in this act, the council mayinvest funds not required for immediate disbursement in securities in whichstate funds may be invested as provided by law, sell securities it haspurchased and deposit securities in any financial institution. Funds depositedin financial institutions shall be secured by obligations authorized aspermissible security for state investments. In investing and managing itsfunds, the council shall exercise the judgment and care which persons ofprudence, discretion and intelligence would exercise under similarcircumstances in managing the permanent disposition of their funds, consideringthe probable income and the probable safety of their capital.

 

(b) The director of the department of audit or his designeeshall conduct an audit of the books and accounts of the council. Theexamination shall include a financial and compliance audit of the council'soperations as the examiner deems appropriate. The audit shall be conducted atleast once in each year and copies of the audit report shall be filed with thesecretary of state, the joint minerals, business and economic developmentcommittee and the legislative service office.

 

9-12-112. Annual report and budget.

 

(a) The council shall submit an annual report in the mannerprovided by W.S. 9-2-1014 and using the benchmarks prescribed in this act. Inaddition to the requirements of W.S. 9-2-1014, included within the annualreport shall be:

 

(i) The status of the implementation of the comprehensiveeconomic development strategy and recommended legislative and executive actionsrelated to the implementation of the comprehensive economic developmentstrategy;

 

(ii) A summary of the total investments made by the councilunder the Wyoming partnership challenge loan program, article 3 of thischapter, including:

 

(A) The name of each borrower and the amount of each loan;

 

(B) An evaluation of the loan success in economic developmentusing appropriate performance indicators as identified by the council;

 

(C) The cost of the loan program to the people of Wyoming interms of:

 

(I) Forgone interest that could have been obtained if the fundshad been invested by the state treasurer with the permanent funds of the state;

 

(II) Administrative and other costs associated with the program.

 

(D) Revenues and any other benefits obtained from the program.

 

(iii) Repealed By Laws 2003, Ch. 8, 2.

 

(iv) Progress concerning the development of the researchmarketing center and its self-sufficiency under W.S. 9-12-106(b);

 

(v) A report of the film industry financial incentive programas provided in W.S. 9-12-406;

 

(vi) A summary of the total investments made by the councilunder the workforce housing infrastructure program under W.S. 9-12-901 through9-12-905, including:

 

(A) The name of each borrower and the amount of each loan;

 

(B) An evaluation of the loan success in providing workforcehousing infrastructure;

 

(C) The cost of the program to the people of Wyoming in termsof administrative and other costs associated with the program.

 

(b) The council shall submit its budget for review as providedby W.S. 9-2-1010 through 9-2-1014.

 

9-12-113. Conflicts of interest.

 

Councilmembers shall be subject to the provisions of W.S. 16-6-118 and shall abstainfrom voting in accordance with that section.

 

ARTICLE 2 - SCIENCE, TECHNOLOGY AND ENERGY FINANCIAL AID

 

9-12-201. Assumption of science technology and energy authorityfunctions.

 

Inassuming the functions of the science energy and technology authority thecouncil shall administer the program in accordance with the provisions of thisact generally and the specific provisions of this article.

 

9-12-202. Applications for financial aid from the council.

 

(a) All applications for financial aid shall be submitted tothe council who shall investigate and prepare a report concerning theadvisability of approving the proposed financial aid for the applicant andconcerning any other factors deemed relevant by the council.

 

(b) The investigation and report shall include such facts aboutthe applicant under consideration as its history, wage standards, jobopportunities, stability of employment, past and present financial conditionand structure, pro-forma income statements, present and future markets andprospects, integrity of management as well as the feasibility of the proposedproduct to be granted financial aid, including the state of development of theproduct as well as the likelihood of its commercial feasibility.

 

(c) After consideration of the report, the council shallapprove or deny the application. The applicant shall be promptly notified ofthe decision. In making the decision as to approval or denial of anapplication, the council shall give priority to those applicants whereby:

 

(i) The proceeds of the seed capital aid will only be used tocover the initial capitalization needs of the enterprise within Wyoming exceptas otherwise authorized in this article;

 

(ii) The enterprise has a reasonable chance of success;

 

(iii) Participation by the council is necessary to the success ofthe enterprise because funding for the enterprise is unavailable in thetraditional capital markets, or because funding has been offered on terms thatwould substantially hinder the success of the enterprise;

 

(iv) The enterprise seed capital has the reasonable potential tocreate a substantial amount of primary employment within the state;

 

(v) The entrepreneur and other founders of the enterprise havealready made or are contractually committed to make a substantial financial andtime commitment to the enterprise;

 

(vi) There is a reasonable possibility that the council willrecoup at least its initial investment from seed capital contracts; and

 

(vii) Binding commitments have been made to the council by theapplicant for adequate reporting of financial data to the council including arequirement for an annual or other periodic audit of the books of theenterprise, and for control by the council over the management of theenterprise, so as to protect the investment including the right of access tofinancial and other records of the enterprise.

 

(d) In determining the level of financial support to beadvanced, the council shall limit its proportion of financial aid consistentwith the existence of a market failure in product development financing butshall not provide more than twenty percent (20%) of the funds of the councilfor any one (1) project. Any financial aid toward product development financinggranted pursuant to this section shall be equally matched or exceeded by theapplicant. No financial aid granted pursuant to this section shall in anymanner be pledged as collateral by the applicant.

 

(e) Before granting any seed capital financial aid, the councilshall enter into an agreement with the applicant providing for a return to thecouncil which is commensurate with the level of risk and amount of thefinancial aid.

 

ARTICLE 3 - WYOMING PARTNERSHIP CHALLENGE LOAN PROGRAM

 

9-12-301. Definitions.

 

(a) As used in this article:

 

(i) "Business" means any proposed or existingenterprise which employs people within the state, provides services within thestate, uses resources within the state or otherwise adds economic value togoods, services or resources within the state, and includes farm and ranchoperations;

 

(ii) "Community development organization" means agroup of private citizens organized as a business entity authorized to dobusiness in this state for the purpose of providing financing for new,existing, or expanding businesses and other economic or community developmentpurposes throughout its community or county, and which may take equitypositions and shall take security positions in its borrowers' businesses andappropriate personal guarantees from the owners thereof;

 

(iii) "Economic development account" means the economicdevelopment enterprise account within the revolving investment fund createdunder article XVI, section 12 of the Wyoming constitution. The account shallconsist of funds from payments as provided in W.S. 9-12-305 and other funds asprovided by law;

 

(iv) "State development organization" means acorporation organized under W.S. 17-11-101 through 17-11-120 with the authorityto provide financing for new, existing or expanding businesses and to fulfillother economic or community development purposes throughout the state of Wyoming,and which may take equity positions and shall take security positions in itsborrowers' businesses and appropriate personal guarantees from the ownersthereof;

 

(v) "Economic disaster" means an event occurring inWyoming that has an economic impact with total lost revenues to impactedbusinesses in a twelve (12) calendar month period of at least four milliondollars ($4,000,000.00) or an economic impact with total lost revenues toimpacted businesses in four (4) or less counties in a twelve (12) calendarmonth period of at least one million dollars ($1,000,000.00). The businesscouncil may use good faith estimates of lost revenues to businesses indetermining whether an event qualifies as an economic disaster. Calculation oflost revenues shall only include actual losses incurred and shall not includeany future losses;

 

(vi) "Bridge financing" means the provision offinancing for that portion of the total project cost which is calculated bysubtracting from total project cost the sum of ownership debt and equity. Thecouncil shall not consider a proposal in which the bridge financing componentexceeds thirty-five percent (35%) of total project cost or five hundredthousand dollars ($500,000.00), whichever is less, and the business does notcontribute more than fifteen percent (15%) of the total project cost;

 

(vii) "Guarantee loan participation" means a provisionof financing by the council in which the council participates with a lenderthat has secured a federal guaranteed loan to guarantee repayment of a loanmade to a business. The maximum participation by the council shall be fiftypercent (50%) of the loan or one million dollars ($1,000,000.00), whichever isless;

 

(viii) "Loan guarantee" means a provision of financingby the council in which the council guarantees a portion of a bank loan made toa business;

 

(ix) "Wyoming main street loan participation" means aprovision of financing by the council in which the council participates with alender that has made a loan to a business for building improvements to maintainthe structure's historical character. The maximum participation by the councilshall be seventy-five percent (75%) of the loan or one hundred thousand dollars($100,000.00), whichever is less.

 

9-12-302. Wyoming partnership challenge loan program; creation;rulemaking; administration account.

 

(a) The council shall establish and administer a partnershipchallenge loan program under this article and may contract for necessaryprofessional services. Loans authorized under the program shall be limited,except as otherwise provided under W.S. 9-12-304(c) through (g), to communitydevelopment organizations and state development organizations and made inaccordance with the provisions of W.S. 9-12-304. Any community developmentorganization or state development organization may submit an application to thecouncil to participate in the program on forms prescribed by and subject torules promulgated by the council.

 

(b) The council, shall establish all fees and interest rates tobe charged for each loan as it is underwritten for this program. The interestrate for loans made under this program shall be not less than four percent (4%)per annum. Fees on loans under the program shall be paid monthly and depositedinto a program administration account which is continuously appropriated to thecouncil to be expended solely for the purpose of administering this article andloans authorized under it.

 

9-12-303. Council duties; actions on loan applications.

 

Allcomplete applications to participate in the loan program established under thisarticle which conform with the criteria established by law and rulespromulgated under this article which are submitted to the council shall beconsidered by the council. The council shall review the application and maycommunicate directly with the applicant and other lenders or potential lendersof the applicant. The council shall approve or disapprove each application itconsiders in accordance with this article and rules promulgated under it. Inmaking its determination under this section, the council shall considerwhether approval of the application would cause unfair competition with anyexisting business in the area. The council shall establish loan amortizationschedules, terms and conditions for each loan approved.

 

9-12-304. Criteria for loans.

 

(a) Except as otherwise provided under subsections (c) through(g) of this section, loans under this article may only be made by the councilto community development organizations and state development organizationswhich meet the following eligibility criteria:

 

(i) The community development organization or state developmentorganization will contribute an amount of cash or cash equivalent at leastequal to the loan it receives under this article to a program of investment inits area of local economic development;

 

(ii) The community development organization or state developmentorganization will consolidate the loan it receives under this article and itsrequired contribution under paragraph (i) of this subsection and make loans toWyoming businesses and investments in support of Wyoming businesses, such asinfrastructure construction loans and occupational training loans;

 

(iii) The community development organization has been endorsed bya resolution of the legislative body of its municipality or county or, in thecase of a state development organization, has been endorsed by a resolution ofthe council; and

 

(iv) As part of any agreement under this article and to ensurefunds loaned or committed under this section are invested by the communitydevelopment organization or the state development organization in localeconomic development in a reasonable period of time, the council shall reservethe right to terminate the agreement.

 

(b) Loans, loan commitments or loan guarantees or anycombination thereof shall be made under this article only:

 

(i) If the total amount to a single community developmentorganization, or to a business for an economic disaster loan as provided undersubsection (c) of this section or to a business for bridge financing asprovided under subsection (d) of this section, does not exceed five hundredthousand dollars ($500,000.00), if the total amount to state developmentorganizations does not exceed three million five hundred thousand dollars($3,500,000.00), if the amount to a business for a federally guaranteed loan asprovided under subsection (e) of this section does not exceed one milliondollars ($1,000,000.00), if the amount to a business for a loan guarantee doesnot exceed one hundred thousand dollars ($100,000.00) per loan guaranteed oreighty percent (80%) of any net loan loss by the bank, whichever is less or ifthe amount to a business for a Wyoming main street loan participation asprovided under subsection (g) of this section does not exceed one hundredthousand dollars ($100,000.00);

 

(ii) If there are sufficient funds in the economic developmententerprise account to fully fund it and all other outstanding commitments,loans, loan guarantees and guarantee loan participations;

 

(iii) If funds provided by the state are adequatelycollateralized. The adequacy of the collateral shall be determined by thecouncil;

 

(iv) Repealed By Laws 2010, Ch. 69, 208.

 

(c) Any business or group of businesses may apply to the councilfor designation of an area of this state as an area in which an economicdisaster as defined in W.S. 9-12-301(a)(v) has occurred. The council shallprescribe the form and contents of such applications. The council shall revieweach application and make a determination as soon as practicable as to whetheran economic disaster area designation shall be made. The council may make loansto any business located within the designated economic disaster area that haslost revenue as a result of the economic disaster. Subsection (a) of thissection does not apply to economic disaster loans under this subsection.

 

(d) Any business may apply to the council for bridge financingas defined in W.S. 9-12-301(a)(vi). The council shall prescribe the form andcontents of such application. The council shall review each application andmake a determination as soon as practicable. In the event of a default for anyloan made under this subsection, liability shall be shared proportionatelybetween the state and the lending institution in the same percentage as thesource of the loan. The interest of the state and the lending institution shallhave priority over any claim of the business receiving the bridge financing orany other third party.

 

(e) Any business may apply to the council for a guarantee loanparticipation as defined in W.S. 9-12-301(a)(vii). The council shall prescribethe form and contents of the application. The council shall review eachapplication and make a determination as soon as practicable. The council shallstructure any guarantee loan participation so that in the event of default ofany loan which is participated in under this subsection:

 

(i) Liability shall be shared proportionally between the stateand the lending institution in the same percentage as the source of the fundingfor the loan; and

 

(ii) The interest of the state and the lending institution shallhave priority over any claim of the business receiving the financing or anyother third party.

 

(f) Any business may apply to the council for a loan guaranteeas defined in W.S. 9-12-301(a)(viii). The council shall prescribe the form andcontents of the application. The council shall review each application andmake a determination as soon as practicable. The council shall structure any loanguarantee so that in the event of default of any loan that is guaranteed underthis subsection:

 

(i) Liability to the state under the guarantee shall not exceedone hundred thousand dollars ($100,000.00) per loan guaranteed or eightypercent (80%) of any net loan loss by the bank, whichever is less; and

 

(ii) The interest of the state and the lending institution shallhave priority over any claim of the business receiving the financing or otherthird party.

 

(g) Any business may apply to the council for a Wyoming mainstreet loan participation as defined in W.S. 9-12-301(a)(ix). The councilshall prescribe the form and contents of the application. The council shallreview each application and make a determination as soon as practicable. Inthe event of a default for any loan made under this subsection, liability shallbe shared proportionately between the state and the lender in the samepercentage as the source of the loan. The interest of the state and the lendershall have priority over any claim of the business receiving the main streetloan participation or any other third party.

 

9-12-305. Economic development enterprise fund account; deposits;continuous appropriation; loans.

 

Exceptfor fees deposited in accordance with W.S. 9-12-302(b), all repayments ofprincipal and interest to the state in connection with loans made under thisarticle and other funds as appropriated by the legislature for the challengeloan program shall be deposited into the economic development enterpriseaccount within the revolving investment fund. All funds in the account may beused for and are continuously appropriated for loans authorized to be madeunder this article. The total principal balance of outstanding loans shall notexceed the amounts appropriated by the legislature plus interest accrued andcollected less any losses of loan principal or interest.

 

9-12-306. Audit; report.

 

(a) The director of the state department of audit or hisdesignee shall annually examine the loan program created under this article andsubmit his report of examination to the governor, the legislature and thecouncil. This examination shall include a financial and compliance audit of thecouncil's operations, and such financial audit of borrowers under this articleas the examiner deems appropriate. As a condition of any loan under thisarticle, the borrower shall agree to allow the examiner to examine its booksand records. The examiner shall treat all proprietary information received inthe course of the examination or audit as confidential.

 

(b) On or before July 15 of each year, the council shall submita written report to the joint minerals, business and economic developmentinterim committee reviewing rules adopted by the council during the reportingperiod, presenting a portfolio of loans made under the program and presenting arisk analysis of the portfolio of loans prepared by the state bankingcommissioner. The report, portfolio of loans and risk analysis required underthis subsection shall be public records. The risk analysis prepared by thestate banking commissioner shall not be subject to the limitations of W.S.9-1-512.

 

9-12-307. Penalty.

 

Anyperson who knowingly makes a false statement to the council in connection withan application under this article or article 9 of this chapter is guilty of afelony punishable by imprisonment for not more than two (2) years, a fine ofnot more than two thousand dollars ($2,000.00), or both.

 

ARTICLE 4 - FILM AND VIDEO PROMOTION

 

9-12-401. Repealed By Laws 2003, Ch. 8, 2.

 

 

9-12-402. Film industry financial incentive program; creation.

 

There is created the film industry financial incentiveprogram to encourage the use of this state as a site for filming and providingproduction services for filmed entertainment. The program shall beadministered by the Wyoming tourism board.

 

9-12-403. Film industry financial incentive program; definitions.

 

(a) As used in this article:

 

(i) "Filmed entertainment" means any one (1) motionpicture, television production, commercial or music video to be sold ordisplayed in electronic medium or film motion pictures;

 

(ii) "Production costs" means the total cost ofproducing filmed entertainment;

 

(iii) "Program" means the film industry financialincentive program created under this article;

 

(iv) "Qualified expenditures" mean expenditures forgoods purchased or leased or services purchased, leased or employed from avendor or supplier who is located and doing business in this state if theexpenditure was made in this state and was made for a qualified production. Qualified expenditures for which reimbursement may be made are limited to:

 

(A) Salaries and employment benefits for services rendered inand to residents of this state;

 

(B) Rents for real and personal property located in this stateused in the production;

 

(C) Payments for preproduction, production, post-production anddigital media effects services provided in this state;

 

(D) Costs of set construction provided in this state.

 

(v) "Qualified production" means filmed entertainmenttotally or partially produced and filmed in this state that would havewidespread public appeal and would likely encourage members of the public tovisit the state of Wyoming;

 

(vi) "Board" means the Wyoming tourism board.

 

9-12-404. Film industry financial incentive program; reimbursementeligibility; submission of required documentation; payment.

 

(a) The board may contract with the makers of a qualifiedproduction to provide a reimbursement of up to fifteen percent (15%) of theproduction's qualified expenditures if a minimum of two hundred thousanddollars ($200,000.00) in total qualified expenditures are made.

 

(b) The sum of all contractual obligations under this sectionshall not exceed the total appropriation available for the program for anyfiscal biennium.

 

(c) A qualified production applying for a payment under thissection shall submit documentation for claimed qualified expenditures to theboard.

 

9-12-405. Film industry financial incentive program; contractrequired; procedure; approval process.

 

(a) The board may contract with any entity engaged in thisstate in producing filmed entertainment for reimbursement of qualifiedexpenditures as provided in this article. The board shall be providedinformation required to determine if the production is a qualified productionand to determine the qualified expenditures, production costs and otherinformation necessary for the council to determine both eligibility for and theappropriate level of reimbursement. No reimbursement shall be made unless theboard has entered into an agreement which provides for adequate considerationto the state in exchange for the reimbursement provided. No reimbursement ofqualified expenditures shall be made by the board until the qualifiedproduction is complete and substantially all contractual commitments made tothe board have been fulfilled. If a qualified production is not completedaccording to a reasonable schedule, the contract shall be terminated and fundsreallocated to other qualified productions.

 

(b) The board shall establish a process by which a contractunder this article is formulated and executed and reimbursement amounts aredetermined. The board shall require information including, but not limited to:

 

(i) Production related employment;

 

(ii) Proposed total production budgets;

 

(iii) Planned expenditures in this state which are intended foruse exclusively as an integral part of preproduction, production orpost-production activities engaged in primarily in this state; and

 

(iv) A signed affidavit by a person authorized to commit theentity that the information provided to the board has been verified and iscorrect.

 

(d) The board shall not contract with any qualified productionfor reimbursement of qualified expenditures under this article unless the boarddetermines that adequate consideration to the state in exchange for thereimbursement will be provided under the contract. The reimbursement shall notexceed the amount of measurable benefit gained by the state resulting from thequalified production expenditures. The consideration may include but is notlimited to:

 

(i) Providing a storyline that is set in Wyoming;

 

(ii) Providing additional Wyoming behind the scenes footage;

 

(iii) Using Wyoming props and product placement; and

 

(iv) Providing a clear statement in the credits that the productwas filmed in Wyoming.

 

9-12-406. Film industry financial incentive program; rules andregulations; fraudulent claims; reporting.

 

(a) The board may adopt rules and regulations to implement thisarticle, including, but not limited to, requirements for the contract process,requirements for substantial completion of contractual commitments, recordsrequired for submission for substantiation of reimbursement and determinationof and qualification for reimbursement.

 

(b) An entity that obtains payment under this article through aclaim that is fraudulent is liable for reimbursement of the amount paid plus anamount double the payment plus reimbursement of reasonable costs. The amountsunder this subsection are in addition to any criminal penalty for which theentity is liable for the same acts. The entity shall also be liable for costsand fees incurred by the state in investigating and prosecuting the fraudulentclaim.

 

(c) The board shall report to the joint travel, recreation,wildlife and cultural resources interim committee and the joint appropriationsinterim committee by October 1 each year, expenditures under this article andthe return to the state on funds expended pursuant to this article.

 

9-12-407. Sunset provision.

 

W.S. 9-12-402 through 9-12-406 are repealed effective June30, 2011.

 

ARTICLE 5 - WYOMING COUNCIL FOR WOMEN'S ISSUES

 

9-12-501. Creation; areas of attention.

 

(a) The Wyoming council for women's issues is created withinthe Wyoming business council. The council for women's issues shall focusattention on the status of women in Wyoming with emphasis on the followingareas:

 

(i) Employment practices;

 

(ii) Educational opportunities;

 

(iii) Home and community;

 

(iv) Legal rights and responsibilities.

 

(b) As used in this article, unless otherwise specified,"council" means the Wyoming council for women's issues.

 

9-12-502. Membership; term; appointments; vacancies; removal;officers; acceptance of gifts and donations; expenses.

 

(a) The council shall be composed of fourteen (14) members,each of whom shall serve for a term of six (6) years. The governor shall makethe appointments and fill any vacancies for unexpired terms. The governor mayremove any member as provided in W.S. 9-1-202. The council shall be composed ofone (1) woman from each of the judicial districts in the state, four (4)persons chosen at large and the chief executive officer of the Wyoming businesscouncil or his designee who shall be an ex officio member. Not more than nine(9) members shall be from the same political party. Of the initial membersappointed from each of the judicial districts, three (3) members shall beappointed for terms of two (2) years, three (3) members shall be appointed forterms of four (4) years and three (3) members shall be appointed for terms ofsix (6) years.

 

(b) The council shall elect a chairman and vice-chairman fromits members. The Wyoming business council may employ a secretary on a part-timebasis to assist the council. The council may accept gifts and donations.

 

(c) Members of the council shall receive no compensation butshall be reimbursed under W.S. 9-3-102 and 9-3-103 for per diem and travelexpenses incurred in the performance of their duties.

 

ARTICLE 6 - COMMUNITY INFRASTRUCTURE PROGRAM

 

9-12-601. Wyoming business ready community program; purpose; creation;rulemaking.

 

(a) It is the purpose of this article to promote economicdevelopment at the city, town and county level in order to create additionaleconomic health and a stronger state economy.

 

(b) The council shall establish and administer a Wyomingbusiness ready community program as provided by this article. Any city, town orcounty may submit an application to the council for a grant or loan under theprogram on forms prescribed by and subject to rules promulgated by thecouncil. Grants or loans may be applied for by a joint powers board with theapproval of all participating agencies to the joint powers agreement. Grants andloans may be made by the council for economic or educational developmentinfrastructure projects, including the purchase of land, buildings, facilities,telecommunications infrastructure, rights of way, airports, sewer and waterprojects, roads, landscaping, recreational and convention facilities or otherinfrastructure determined by the council to be consistent with the purposes ofthis article. In adopting rules and making grants and loans under this articlethe council shall require all projects to be related to economic or educationaldevelopment infrastructure, which shall not include rehabilitation or expansionof existing infrastructure unless the council determines the rehabilitation orexpansion is necessary to meet the purposes of this article. All grants, loansor cooperative agreements made under this article shall be referred by thecouncil to the state loan and investment board for final approval ordisapproval. The state loan and investment board may adopt rules as necessaryto implement its duties under this article.

 

(c) Grants shall be matching grants as determined by thecouncil. Loans shall be made at no or low interest rates.

 

(d) Grants or loans shall be made under this article, only ifthe applicant demonstrates that upon receipt of the grant or loan, allprojected project costs will be funded. Grants or loans for one (1) project maynot exceed a maximum annual amount established by rule of the council.Multi-year projects may be awarded up to the maximum annual amount each year,for a period not to exceed three (3) years, as approved by the state loan andinvestment board. The application shall identify the source of all funds to beused for the project.

 

(e) Grants or loans may be used to fund project costs inaccordance with approved applications and rules of the council. Grant or loanfunds may be used to contract with community development organizations andstate development organizations in accordance with the purposes of this articleand approved applications.

 

(f) Loans provided under this article shall be adequatelycollateralized as determined by the council. No loans shall be made without thewritten opinion of the attorney general certifying the legality of thetransaction and all documents connected therewith. An election approving theproject and borrowing for the project by the qualified electors of theborrowing entity shall be required only if the attorney general determines suchan election is otherwise required by law.

 

(g) Repayments of loans under this section shall be credited tothe business ready community account.

 

(h) The council may also enter into cooperative agreements withthe Eastern Shoshone Tribe and the Northern Arapaho Tribe in order to promotethe purposes of this article.

 

(j) Grants may be made by the council for projects, inaccordance with rules of the council, which:

 

(i) Improve the development of businesses that will providedata generation and information technology storage capabilities statewide or inmunicipalities of the state;

 

(ii) Encourage and provide for the expansion of existingbusinesses providing information technology storage enterprises in the state,including those developed through the University of Wyoming business technologycenter;

 

(iii) Provide a reduction of the costs of electrical power orbandwidth, or both, to businesses meeting the provisions of paragraph (j)(i) or(ii) of this section. In exchange for providing these reductions in costs, thepolitical subdivision receiving the grant and providing the reduction in costsshall contract with the business to receive direct benefits and indirecteconomic development benefits including:

 

(A) A specific amount of capital investment by the business;

 

(B) A specific minimum payroll created by the business;

 

(C) The provision of information technology storage services tothe state or the political subdivision at a price discounted from the fairmarket value of the services; and

 

(D) An agreement to repay with a reasonable rate of return anyfunds received to reduce costs if the business relocates from the politicalsubdivision prior to the expiration of five (5) years from the date of firstreceiving funds.

 

(k) As used in this article:

 

(i) "Community development organization" means asdefined by W.S. 9-12-301(a)(ii);

 

(ii) "State development organization" means as definedby W.S. 9-12-301(a)(iv).

 

9-12-602. Wyoming business ready community program account.

 

There is created the business readycommunity account. Funds shall be credited to the account as provided by law.Funds in the account are continuously appropriated to the council to be usedonly for cooperative agreements, grants or loans authorized to be made underthis article.

 

9-12-603. Council duties; actions on grant and loan applications.

 

All complete applications to participate inthe grant and loan program established under this article which conform withthe criteria established by law and rules promulgated under this article whichare submitted to the council shall be considered by the council. The councilshall approve or disapprove each application it considers in accordance withthis article and rules of the council.

 

ARTICLE 7 - AIR SERVICES FINANCIAL AID

 

9-12-701. Amended and Renumbered as W.S. 10-3-601 by Laws 2005, ch.13, 1.

 

9-12-702. Amended and Renumbered as W.S. 10-3-602 By Laws 2005, ch.13, 1.

 

 

ARTICLE 8 - WYOMING COMMUNITY FACILITIES PROGRAM

 

9-12-801. Wyoming community facilities program; purpose; creation;administration by council; rulemaking authority; eligible projects.

 

(a) It is the purpose of this article to assist communities topreserve former school and government facilities that have existing or futurecommunity uses.

 

(b) The council shall administer a Wyoming community facilitiesprogram as provided by this article, subject to the approval of grants andloans by the state loan and investment board as provided by this article.

 

(c) Any qualifying community with a demonstrated need for acommunity facility, including a city, town, county, joint powers board or otherlocal governmental entity, may submit an application to the council for a grantor loan under this program on forms prescribed by and subject to rulespromulgated by the council. Application by a joint powers board shall requirethe approval of all participating agencies to the joint powers agreement.

 

(d) Grants or loans may be recommended by the council andawarded by the state loan and investment board for economic developmentcommunity facilities projects which provide:

 

(i) Space for community gatherings and functions;

 

(ii) Appropriate recreational, swimming and athletic facilitiesfor community members, particularly youth;

 

(iii) Other functions or uses determined by the council to beconsistent with the purposes of this article.

 

(e) In adopting rules and recommending grants and loans underthis article, the council shall require all projects to be related to economicdevelopment or enhancement of quality of life in a community. Projects mayconsist of:

 

(i) The expansion, renovation or remodeling of existing surplusgovernment facilities;

 

(ii) The purchase of an interest in or cooperative agreementsfor the expansion, renovation or conversion of school facilities to the extentthe facilities exceed statewide school building and facility adequacy standardsestablished by the school facilities commission under W.S. 21-15-115. Noownership interest to the project or facility under a project shall remain withthe school district upon expenditure of any funds under this program for anyproject.

 

(f) All grants, loans or cooperative agreements recommended bythe council shall be referred by the council to the state loan and investmentboard for final approval or disapproval in accordance with this article.


State Codes and Statutes

State Codes and Statutes

Statutes > Wyoming > Title9 > Chapter12

CHAPTER 12 - WYOMING ECONOMIC DEVELOPMENT ACT ARTICLE 1 INGENERAL

 

9-12-101. Short title.

 

This chapter shall be known and may becited as the "Wyoming Economic Development Act."

 

9-12-102. Definitions.

 

(a) As used in this act, the following terms have the followingmeanings, except where the context clearly indicates otherwise:

 

(i) "Board" means the board of directors of thecouncil;

 

(ii) "Council" means the Wyoming business council, thebody corporate created by this article;

 

(iii) "Federal agency" means the United States, thePresident of the United States, and any department, corporation, agency, orinstrumentality heretofore or hereafter created, designated, or established bythe United States;

 

(iv) "Financial aid" means:

 

(A) The infusion of risk capital to persons by makinginvestments for use in the development and exploitation of specific products;

 

(B) The purchase of securities;

 

(C) Royalty agreements;

 

(D) Loans and loan guarantees;

 

(E) Any contractual arrangement in which the council providestechnological services to any person involving the development and exploitationof a specific product.

 

(v) "Person" means natural persons, firms,foundations, associations, corporations, business trusts, partnerships, jointventures, and public bodies, including but not limited to the state of Wyoming,any state, and any agency, department, institution, political subdivision orinstrumentality of Wyoming or any state;

 

(vi) "Product" means any product, device, technique orprocess, which is or may be exploitable commercially and includes products,devices, techniques or processes which have advanced beyond the theoretic stageand are readily capable of being, or have been, reduced to practice butexcludes pure research;

 

(vii) "Venture" means any contractual arrangement withany person whereby the council obtains rights from or in a product or proceedstherefrom in exchange for the granting of financial aid to the person;

 

(viii) "This act" means W.S. 9-12-101 through 9-12-1312.

 

9-12-103. Wyoming business council; creation; composition;compensation; termination; meetings; surety bonds; fiscal control.

 

(a) There is created the Wyoming business council. The councilis a body corporate operating as a state instrumentality operated solely forthe public benefit. As such it shall have, and is hereby vested with, thepowers and duties conferred in this chapter. It shall be governed by a boardof directors consisting of fifteen (15) voting directors, appointed by thegovernor with the advice and consent of the senate. The governor shall be amember and cochairman of the board, but shall not vote. The appointeddirectors shall have demonstrated leadership and business expertise. An equalnumber of directors shall be appointed to initial terms of one (1), two (2) andthree (3) years. Thereafter, directors shall serve for terms of three (3)years. No appointed director shall serve more than two (2) successive three (3)year terms. If a vacancy occurs, the governor shall appoint a successor inaccordance with W.S. 28-12-101. The governor may remove any board member heappoints for cause and shall remove any director who fails to attend three (3)consecutive regular meetings of the council. No appointed council member shallsend a designee to attend a council meeting nor vote by proxy. The board shallselect one (1) of its members to act as cochairman of the board. The boardshall retain a chief executive officer. The chief executive officer serves atthe pleasure of the board. All of the appointed directors shall be appointedat large and at least twelve (12) of the appointed directors shall be residentsof Wyoming.

 

(b) The appointed directors shall receive per diem forattending board meetings in the same amount as state legislators and shallreceive no other compensation for serving on the board. The board shall fix thesalary of the chief executive officer. Subject to the approval of thedirectors, the chief executive officer shall determine the terms of employment,tenure, duties, working conditions, promotion and termination of all otheremployees which the chief executive officer determines are necessary to carryout the purposes and functions of the council. Employees of the council shallbe covered by the Wyoming Retirement Act, the State Employees and OfficialsGroup Insurance Act and the Wyoming Deferred Compensation Act.

 

(c) Upon termination of the council, all its rights andproperties shall pass to and be vested in the state.

 

(d) The council shall determine the date, time, place andmethod of notice for all regular meetings of the council. A majority of thevoting directors of the council constitutes a quorum for the transaction of anybusiness or the exercise of any power or function of the council. Matters shallbe decided by a majority vote of the voting members of the council. Asunanimously determined by the council members, the council may take action byconference telephone or similar communications equipment whereby all personsparticipating in the meeting can hear each other at the same time.

 

(e) The council may execute and maintain at its expense ablanket surety bond covering each director, the chief executive officer and theemployees or other officers of the council in the penal sum of two hundred fiftythousand dollars ($250,000.00).

 

(f) The council may also form committees and advisory councils,which may include representatives who are not members of the board, toundertake more extensive study and discussion of the issues before the board.

 

(g) Except as specifically provided in this act, the followingprovisions do not apply to the council:

 

(i) W.S. 9-2-1001 through 9-2-1026.1;

 

(ii) W.S. 9-3-101 through 9-3-105;

 

(iii) The Wyoming Administrative Procedure Act.

 

(h) Except as specifically provided in this act, the provisionsof W.S. 16-4-201 through 16-4-205 and 16-4-401 through 16-4-408 shall apply tothe council.

 

9-12-104. General powers and duties of the council.

 

(a) Except as otherwise limited by this act, the council may:

 

(i) Sue and be sued and procure necessary liability insurance;

 

(ii) Have a seal;

 

(iii) Make and execute contracts and other instruments;

 

(iv) Adopt rules and regulations to implement the programs andfunctions assigned to the council by this act. Any rule adopted by the councilshall be submitted to the management council of the legislature in accordancewith W.S. 28-9-101 through 28-9-108, approved by the governor as provided inW.S. 16-3-103(d) and filed with the secretary of state;

 

(v) Acquire or contract to acquire by grant, purchase, optionor otherwise, real, personal or mixed property or any interest in property,including patents, copyrights, trademarks or any other evidence of protectionor exclusivity as to products;

 

(vi) Own, hold, clear, improve and rehabilitate, and sell,assign, exchange, transfer, convey, lease and mortgage real, personal or mixedproperty or otherwise dispose of, or encumber the same;

 

(vii) Grant options to purchase any interest in or asset arisingout of an agreement;

 

(viii) Provide advisory, consultative or educational services,technical assistance and advice to any person in order to carry out thepurposes of the council;

 

(ix) Mortgage or pledge any or all of its revenue, income, orinterest in or asset arising out of a venture agreement;

 

(x) Except as otherwise provided in this act, deposit any fundsof the council in any financial institutions located within the state;

 

(xi) Procure insurance against any loss in connection with itsproperty and other assets and operations in amounts and from insurers it deemsdesirable;

 

(xii) Engage the services of consultants on a contract basis forrendering professional, financial and technical assistance and advice,including for studies and investigation likely to lead to business development;

 

(xiii) Contract for and accept any gifts or grants or loans offunds or property or financial or other aid in any form from the federalgovernment or any agency or instrumentality thereof, or from any other sourceand pass through or otherwise comply, subject to the provisions of thischapter, with the terms and conditions thereof;

 

(xiv) Enter into agreements with persons doing business or whowill do business in this state for the advancement of financial assistance tothose persons for research and the development of specific products, proceduresand techniques to be developed and produced in this state conditioned uponcontractual assurances that the benefits of increasing or maintainingemployment and tax revenues shall remain in and accrue to this state;

 

(xv) Consent to the modification of the terms of any mortgage,loan or contract to which the council is a party;

 

(xvi) Organize, conduct, sponsor or cooperate in and assist theconduct of special institutes, conferences and demonstrations relating to thestimulation and formulation of business development;

 

(xvii) Make investments in projects that have potential tostimulate economic development in the state;

 

(xviii) Render advice and assistance and to provide services tostate agencies, local and regional economic development entities, private firmsand other persons providing services or facilities for economic development inWyoming;

 

(xix) Do all acts and things necessary or convenient to carry outthe powers granted to it by this act or any other act;

 

(xx) Repealed By Laws 2010, Ch. 69, 204.

 

(xxi) Repealed by Laws 2008, Ch. 6, 2.

 

(b) The board, consistent with this act, shall developguidelines for each of the areas specified in subsection (a) of this sectionrelative to definitions, types of grants or loans, level of funding andrepayment requirements.

 

9-12-105. Economic development services.

 

(a) It shall be the duty of the council to encourage, stimulateand support the development and expansion of the economy of the state. Thecouncil is charged with the following duties and responsibilities:

 

(i) To see that there are prepared and carried out effectiveeconomic development marketing and promotional programs;

 

(ii) To make available, in conjunction and cooperation withlocalities, chambers of commerce, industrial authorities and other public andprivate groups, to prospective new businesses basic information and pertinentfactors of interest and concern to such businesses;

 

(iii) To formulate, promulgate and advance programs throughoutthe state for encouraging the location of new businesses in the state and theretention and growth of existing businesses;

 

(iv) To encourage and solicit private sector involvement,support and funding for economic development in the state;

 

(v) To encourage the coordination of the economic developmentefforts of public institutions, regions, communities and private industry andcollect and maintain data on the development and utilization of economicdevelopment capabilities;

 

(vi) To establish such offices within and without the state thatare necessary to the expansion and development of industries and trade. Thecouncil shall establish economic development regions and offices within thestate based upon socioeconomic and geographic similarities;

 

(vii) To encourage the export of products and services from thestate to national and international markets; and

 

(viii) To advise the University of Wyoming and the Wyomingcommunity college commission in designating technical training and othereducational programs in Wyoming's community colleges and the University ofWyoming beneficial to economic development activities in this state.

 

9-12-106. Planning and research.

 

(a) It shall also be the duty of the council to:

 

(i) Develop a comprehensive economic development strategy forthe state, starting the first year of each new gubernatorial administration,consistent with the provisions of this act; and

 

(ii) Conduct such studies and research, in collaboration withstate agencies, university and community colleges, local and regionalindustrial authorities and organizations, and other persons within and withoutthe state, as the council may deem necessary, to assist in the development ofthe comprehensive economic strategy and the development of recommendations andadvice on the improvement of economic development and related programs andstrategies across the state.

 

(b) The council may establish a Wyoming market research centerto conduct regional, national and international market research for Wyomingmanufacturers and to conduct market feasibility studies for value addedprojects across all economic sectors, including agriculture. If a center isformed:

 

(i) The council and center shall develop a plan to phase-infees for services and a formula for commissions payable by manufacturers forsales which are directly attributable to the center's research. The plan shallbe directed to make the center self-sufficient by July 1, 2003;

 

(ii) The center may utilize the services of student interns fromthe University of Wyoming and community colleges to provide those students withpractical marketing experience.

 

9-12-107. Tourism promotion and development.

 

(a) Repealed By Laws 2007, Ch. 5, 2.

 

(b) Repealed By Laws 2003, Ch. 8, 2.

 

9-12-108. Coordination of business permits.

 

(a) The council shall:

 

(i) Compile information on the federal, state and localrequirements necessary to begin and operate a business in Wyoming and make thisinformation available to the public on request;

 

(ii) Develop application procedures to expedite the statelicensing and permitting process;

 

(iii) Assist prospective businesses in obtaining the necessaryfederal, state and local permits and licenses;

 

(iv) Encourage and facilitate the participation of federal,state and local government agencies in permit and license coordination;

 

(v) Review permit requirements and the value to the state ofthese permits and prepare recommendations for changes for submission to theappropriate agency, the governor and the legislature.

 

(b) The council may request assistance from any state agency tocarry out its duties under this section. State agencies shall cooperate withthe request for assistance.

 

9-12-109. Promotion of agriculture.

 

Thecouncil shall encourage and promote the development of agriculture in the stateincluding horticulture, apiculture, livestock, poultry, dairying and thekindred industries and including the development of new value-addedagribusiness and product uses and markets for Wyoming agricultural products.

 

9-12-110. Exemptions from taxation; exceptions.

 

Theexercise of the powers granted by this act constitutes the performance of anessential governmental function. The council shall not be required to pay anytaxes levied by any municipality or political subdivision of the state, otherthan to comply with the Wyoming employment security law and for assessments forlocal improvements, upon its property or monies. Except as provided herein, thecouncil's monies and the income therefrom, shall be free from taxation of everykind by the state, municipalities and political subdivisions of the state.

 

9-12-111. Investment and management of funds; audit.

 

(a) Except as otherwise provided in this act, the council mayinvest funds not required for immediate disbursement in securities in whichstate funds may be invested as provided by law, sell securities it haspurchased and deposit securities in any financial institution. Funds depositedin financial institutions shall be secured by obligations authorized aspermissible security for state investments. In investing and managing itsfunds, the council shall exercise the judgment and care which persons ofprudence, discretion and intelligence would exercise under similarcircumstances in managing the permanent disposition of their funds, consideringthe probable income and the probable safety of their capital.

 

(b) The director of the department of audit or his designeeshall conduct an audit of the books and accounts of the council. Theexamination shall include a financial and compliance audit of the council'soperations as the examiner deems appropriate. The audit shall be conducted atleast once in each year and copies of the audit report shall be filed with thesecretary of state, the joint minerals, business and economic developmentcommittee and the legislative service office.

 

9-12-112. Annual report and budget.

 

(a) The council shall submit an annual report in the mannerprovided by W.S. 9-2-1014 and using the benchmarks prescribed in this act. Inaddition to the requirements of W.S. 9-2-1014, included within the annualreport shall be:

 

(i) The status of the implementation of the comprehensiveeconomic development strategy and recommended legislative and executive actionsrelated to the implementation of the comprehensive economic developmentstrategy;

 

(ii) A summary of the total investments made by the councilunder the Wyoming partnership challenge loan program, article 3 of thischapter, including:

 

(A) The name of each borrower and the amount of each loan;

 

(B) An evaluation of the loan success in economic developmentusing appropriate performance indicators as identified by the council;

 

(C) The cost of the loan program to the people of Wyoming interms of:

 

(I) Forgone interest that could have been obtained if the fundshad been invested by the state treasurer with the permanent funds of the state;

 

(II) Administrative and other costs associated with the program.

 

(D) Revenues and any other benefits obtained from the program.

 

(iii) Repealed By Laws 2003, Ch. 8, 2.

 

(iv) Progress concerning the development of the researchmarketing center and its self-sufficiency under W.S. 9-12-106(b);

 

(v) A report of the film industry financial incentive programas provided in W.S. 9-12-406;

 

(vi) A summary of the total investments made by the councilunder the workforce housing infrastructure program under W.S. 9-12-901 through9-12-905, including:

 

(A) The name of each borrower and the amount of each loan;

 

(B) An evaluation of the loan success in providing workforcehousing infrastructure;

 

(C) The cost of the program to the people of Wyoming in termsof administrative and other costs associated with the program.

 

(b) The council shall submit its budget for review as providedby W.S. 9-2-1010 through 9-2-1014.

 

9-12-113. Conflicts of interest.

 

Councilmembers shall be subject to the provisions of W.S. 16-6-118 and shall abstainfrom voting in accordance with that section.

 

ARTICLE 2 - SCIENCE, TECHNOLOGY AND ENERGY FINANCIAL AID

 

9-12-201. Assumption of science technology and energy authorityfunctions.

 

Inassuming the functions of the science energy and technology authority thecouncil shall administer the program in accordance with the provisions of thisact generally and the specific provisions of this article.

 

9-12-202. Applications for financial aid from the council.

 

(a) All applications for financial aid shall be submitted tothe council who shall investigate and prepare a report concerning theadvisability of approving the proposed financial aid for the applicant andconcerning any other factors deemed relevant by the council.

 

(b) The investigation and report shall include such facts aboutthe applicant under consideration as its history, wage standards, jobopportunities, stability of employment, past and present financial conditionand structure, pro-forma income statements, present and future markets andprospects, integrity of management as well as the feasibility of the proposedproduct to be granted financial aid, including the state of development of theproduct as well as the likelihood of its commercial feasibility.

 

(c) After consideration of the report, the council shallapprove or deny the application. The applicant shall be promptly notified ofthe decision. In making the decision as to approval or denial of anapplication, the council shall give priority to those applicants whereby:

 

(i) The proceeds of the seed capital aid will only be used tocover the initial capitalization needs of the enterprise within Wyoming exceptas otherwise authorized in this article;

 

(ii) The enterprise has a reasonable chance of success;

 

(iii) Participation by the council is necessary to the success ofthe enterprise because funding for the enterprise is unavailable in thetraditional capital markets, or because funding has been offered on terms thatwould substantially hinder the success of the enterprise;

 

(iv) The enterprise seed capital has the reasonable potential tocreate a substantial amount of primary employment within the state;

 

(v) The entrepreneur and other founders of the enterprise havealready made or are contractually committed to make a substantial financial andtime commitment to the enterprise;

 

(vi) There is a reasonable possibility that the council willrecoup at least its initial investment from seed capital contracts; and

 

(vii) Binding commitments have been made to the council by theapplicant for adequate reporting of financial data to the council including arequirement for an annual or other periodic audit of the books of theenterprise, and for control by the council over the management of theenterprise, so as to protect the investment including the right of access tofinancial and other records of the enterprise.

 

(d) In determining the level of financial support to beadvanced, the council shall limit its proportion of financial aid consistentwith the existence of a market failure in product development financing butshall not provide more than twenty percent (20%) of the funds of the councilfor any one (1) project. Any financial aid toward product development financinggranted pursuant to this section shall be equally matched or exceeded by theapplicant. No financial aid granted pursuant to this section shall in anymanner be pledged as collateral by the applicant.

 

(e) Before granting any seed capital financial aid, the councilshall enter into an agreement with the applicant providing for a return to thecouncil which is commensurate with the level of risk and amount of thefinancial aid.

 

ARTICLE 3 - WYOMING PARTNERSHIP CHALLENGE LOAN PROGRAM

 

9-12-301. Definitions.

 

(a) As used in this article:

 

(i) "Business" means any proposed or existingenterprise which employs people within the state, provides services within thestate, uses resources within the state or otherwise adds economic value togoods, services or resources within the state, and includes farm and ranchoperations;

 

(ii) "Community development organization" means agroup of private citizens organized as a business entity authorized to dobusiness in this state for the purpose of providing financing for new,existing, or expanding businesses and other economic or community developmentpurposes throughout its community or county, and which may take equitypositions and shall take security positions in its borrowers' businesses andappropriate personal guarantees from the owners thereof;

 

(iii) "Economic development account" means the economicdevelopment enterprise account within the revolving investment fund createdunder article XVI, section 12 of the Wyoming constitution. The account shallconsist of funds from payments as provided in W.S. 9-12-305 and other funds asprovided by law;

 

(iv) "State development organization" means acorporation organized under W.S. 17-11-101 through 17-11-120 with the authorityto provide financing for new, existing or expanding businesses and to fulfillother economic or community development purposes throughout the state of Wyoming,and which may take equity positions and shall take security positions in itsborrowers' businesses and appropriate personal guarantees from the ownersthereof;

 

(v) "Economic disaster" means an event occurring inWyoming that has an economic impact with total lost revenues to impactedbusinesses in a twelve (12) calendar month period of at least four milliondollars ($4,000,000.00) or an economic impact with total lost revenues toimpacted businesses in four (4) or less counties in a twelve (12) calendarmonth period of at least one million dollars ($1,000,000.00). The businesscouncil may use good faith estimates of lost revenues to businesses indetermining whether an event qualifies as an economic disaster. Calculation oflost revenues shall only include actual losses incurred and shall not includeany future losses;

 

(vi) "Bridge financing" means the provision offinancing for that portion of the total project cost which is calculated bysubtracting from total project cost the sum of ownership debt and equity. Thecouncil shall not consider a proposal in which the bridge financing componentexceeds thirty-five percent (35%) of total project cost or five hundredthousand dollars ($500,000.00), whichever is less, and the business does notcontribute more than fifteen percent (15%) of the total project cost;

 

(vii) "Guarantee loan participation" means a provisionof financing by the council in which the council participates with a lenderthat has secured a federal guaranteed loan to guarantee repayment of a loanmade to a business. The maximum participation by the council shall be fiftypercent (50%) of the loan or one million dollars ($1,000,000.00), whichever isless;

 

(viii) "Loan guarantee" means a provision of financingby the council in which the council guarantees a portion of a bank loan made toa business;

 

(ix) "Wyoming main street loan participation" means aprovision of financing by the council in which the council participates with alender that has made a loan to a business for building improvements to maintainthe structure's historical character. The maximum participation by the councilshall be seventy-five percent (75%) of the loan or one hundred thousand dollars($100,000.00), whichever is less.

 

9-12-302. Wyoming partnership challenge loan program; creation;rulemaking; administration account.

 

(a) The council shall establish and administer a partnershipchallenge loan program under this article and may contract for necessaryprofessional services. Loans authorized under the program shall be limited,except as otherwise provided under W.S. 9-12-304(c) through (g), to communitydevelopment organizations and state development organizations and made inaccordance with the provisions of W.S. 9-12-304. Any community developmentorganization or state development organization may submit an application to thecouncil to participate in the program on forms prescribed by and subject torules promulgated by the council.

 

(b) The council, shall establish all fees and interest rates tobe charged for each loan as it is underwritten for this program. The interestrate for loans made under this program shall be not less than four percent (4%)per annum. Fees on loans under the program shall be paid monthly and depositedinto a program administration account which is continuously appropriated to thecouncil to be expended solely for the purpose of administering this article andloans authorized under it.

 

9-12-303. Council duties; actions on loan applications.

 

Allcomplete applications to participate in the loan program established under thisarticle which conform with the criteria established by law and rulespromulgated under this article which are submitted to the council shall beconsidered by the council. The council shall review the application and maycommunicate directly with the applicant and other lenders or potential lendersof the applicant. The council shall approve or disapprove each application itconsiders in accordance with this article and rules promulgated under it. Inmaking its determination under this section, the council shall considerwhether approval of the application would cause unfair competition with anyexisting business in the area. The council shall establish loan amortizationschedules, terms and conditions for each loan approved.

 

9-12-304. Criteria for loans.

 

(a) Except as otherwise provided under subsections (c) through(g) of this section, loans under this article may only be made by the councilto community development organizations and state development organizationswhich meet the following eligibility criteria:

 

(i) The community development organization or state developmentorganization will contribute an amount of cash or cash equivalent at leastequal to the loan it receives under this article to a program of investment inits area of local economic development;

 

(ii) The community development organization or state developmentorganization will consolidate the loan it receives under this article and itsrequired contribution under paragraph (i) of this subsection and make loans toWyoming businesses and investments in support of Wyoming businesses, such asinfrastructure construction loans and occupational training loans;

 

(iii) The community development organization has been endorsed bya resolution of the legislative body of its municipality or county or, in thecase of a state development organization, has been endorsed by a resolution ofthe council; and

 

(iv) As part of any agreement under this article and to ensurefunds loaned or committed under this section are invested by the communitydevelopment organization or the state development organization in localeconomic development in a reasonable period of time, the council shall reservethe right to terminate the agreement.

 

(b) Loans, loan commitments or loan guarantees or anycombination thereof shall be made under this article only:

 

(i) If the total amount to a single community developmentorganization, or to a business for an economic disaster loan as provided undersubsection (c) of this section or to a business for bridge financing asprovided under subsection (d) of this section, does not exceed five hundredthousand dollars ($500,000.00), if the total amount to state developmentorganizations does not exceed three million five hundred thousand dollars($3,500,000.00), if the amount to a business for a federally guaranteed loan asprovided under subsection (e) of this section does not exceed one milliondollars ($1,000,000.00), if the amount to a business for a loan guarantee doesnot exceed one hundred thousand dollars ($100,000.00) per loan guaranteed oreighty percent (80%) of any net loan loss by the bank, whichever is less or ifthe amount to a business for a Wyoming main street loan participation asprovided under subsection (g) of this section does not exceed one hundredthousand dollars ($100,000.00);

 

(ii) If there are sufficient funds in the economic developmententerprise account to fully fund it and all other outstanding commitments,loans, loan guarantees and guarantee loan participations;

 

(iii) If funds provided by the state are adequatelycollateralized. The adequacy of the collateral shall be determined by thecouncil;

 

(iv) Repealed By Laws 2010, Ch. 69, 208.

 

(c) Any business or group of businesses may apply to the councilfor designation of an area of this state as an area in which an economicdisaster as defined in W.S. 9-12-301(a)(v) has occurred. The council shallprescribe the form and contents of such applications. The council shall revieweach application and make a determination as soon as practicable as to whetheran economic disaster area designation shall be made. The council may make loansto any business located within the designated economic disaster area that haslost revenue as a result of the economic disaster. Subsection (a) of thissection does not apply to economic disaster loans under this subsection.

 

(d) Any business may apply to the council for bridge financingas defined in W.S. 9-12-301(a)(vi). The council shall prescribe the form andcontents of such application. The council shall review each application andmake a determination as soon as practicable. In the event of a default for anyloan made under this subsection, liability shall be shared proportionatelybetween the state and the lending institution in the same percentage as thesource of the loan. The interest of the state and the lending institution shallhave priority over any claim of the business receiving the bridge financing orany other third party.

 

(e) Any business may apply to the council for a guarantee loanparticipation as defined in W.S. 9-12-301(a)(vii). The council shall prescribethe form and contents of the application. The council shall review eachapplication and make a determination as soon as practicable. The council shallstructure any guarantee loan participation so that in the event of default ofany loan which is participated in under this subsection:

 

(i) Liability shall be shared proportionally between the stateand the lending institution in the same percentage as the source of the fundingfor the loan; and

 

(ii) The interest of the state and the lending institution shallhave priority over any claim of the business receiving the financing or anyother third party.

 

(f) Any business may apply to the council for a loan guaranteeas defined in W.S. 9-12-301(a)(viii). The council shall prescribe the form andcontents of the application. The council shall review each application andmake a determination as soon as practicable. The council shall structure any loanguarantee so that in the event of default of any loan that is guaranteed underthis subsection:

 

(i) Liability to the state under the guarantee shall not exceedone hundred thousand dollars ($100,000.00) per loan guaranteed or eightypercent (80%) of any net loan loss by the bank, whichever is less; and

 

(ii) The interest of the state and the lending institution shallhave priority over any claim of the business receiving the financing or otherthird party.

 

(g) Any business may apply to the council for a Wyoming mainstreet loan participation as defined in W.S. 9-12-301(a)(ix). The councilshall prescribe the form and contents of the application. The council shallreview each application and make a determination as soon as practicable. Inthe event of a default for any loan made under this subsection, liability shallbe shared proportionately between the state and the lender in the samepercentage as the source of the loan. The interest of the state and the lendershall have priority over any claim of the business receiving the main streetloan participation or any other third party.

 

9-12-305. Economic development enterprise fund account; deposits;continuous appropriation; loans.

 

Exceptfor fees deposited in accordance with W.S. 9-12-302(b), all repayments ofprincipal and interest to the state in connection with loans made under thisarticle and other funds as appropriated by the legislature for the challengeloan program shall be deposited into the economic development enterpriseaccount within the revolving investment fund. All funds in the account may beused for and are continuously appropriated for loans authorized to be madeunder this article. The total principal balance of outstanding loans shall notexceed the amounts appropriated by the legislature plus interest accrued andcollected less any losses of loan principal or interest.

 

9-12-306. Audit; report.

 

(a) The director of the state department of audit or hisdesignee shall annually examine the loan program created under this article andsubmit his report of examination to the governor, the legislature and thecouncil. This examination shall include a financial and compliance audit of thecouncil's operations, and such financial audit of borrowers under this articleas the examiner deems appropriate. As a condition of any loan under thisarticle, the borrower shall agree to allow the examiner to examine its booksand records. The examiner shall treat all proprietary information received inthe course of the examination or audit as confidential.

 

(b) On or before July 15 of each year, the council shall submita written report to the joint minerals, business and economic developmentinterim committee reviewing rules adopted by the council during the reportingperiod, presenting a portfolio of loans made under the program and presenting arisk analysis of the portfolio of loans prepared by the state bankingcommissioner. The report, portfolio of loans and risk analysis required underthis subsection shall be public records. The risk analysis prepared by thestate banking commissioner shall not be subject to the limitations of W.S.9-1-512.

 

9-12-307. Penalty.

 

Anyperson who knowingly makes a false statement to the council in connection withan application under this article or article 9 of this chapter is guilty of afelony punishable by imprisonment for not more than two (2) years, a fine ofnot more than two thousand dollars ($2,000.00), or both.

 

ARTICLE 4 - FILM AND VIDEO PROMOTION

 

9-12-401. Repealed By Laws 2003, Ch. 8, 2.

 

 

9-12-402. Film industry financial incentive program; creation.

 

There is created the film industry financial incentiveprogram to encourage the use of this state as a site for filming and providingproduction services for filmed entertainment. The program shall beadministered by the Wyoming tourism board.

 

9-12-403. Film industry financial incentive program; definitions.

 

(a) As used in this article:

 

(i) "Filmed entertainment" means any one (1) motionpicture, television production, commercial or music video to be sold ordisplayed in electronic medium or film motion pictures;

 

(ii) "Production costs" means the total cost ofproducing filmed entertainment;

 

(iii) "Program" means the film industry financialincentive program created under this article;

 

(iv) "Qualified expenditures" mean expenditures forgoods purchased or leased or services purchased, leased or employed from avendor or supplier who is located and doing business in this state if theexpenditure was made in this state and was made for a qualified production. Qualified expenditures for which reimbursement may be made are limited to:

 

(A) Salaries and employment benefits for services rendered inand to residents of this state;

 

(B) Rents for real and personal property located in this stateused in the production;

 

(C) Payments for preproduction, production, post-production anddigital media effects services provided in this state;

 

(D) Costs of set construction provided in this state.

 

(v) "Qualified production" means filmed entertainmenttotally or partially produced and filmed in this state that would havewidespread public appeal and would likely encourage members of the public tovisit the state of Wyoming;

 

(vi) "Board" means the Wyoming tourism board.

 

9-12-404. Film industry financial incentive program; reimbursementeligibility; submission of required documentation; payment.

 

(a) The board may contract with the makers of a qualifiedproduction to provide a reimbursement of up to fifteen percent (15%) of theproduction's qualified expenditures if a minimum of two hundred thousanddollars ($200,000.00) in total qualified expenditures are made.

 

(b) The sum of all contractual obligations under this sectionshall not exceed the total appropriation available for the program for anyfiscal biennium.

 

(c) A qualified production applying for a payment under thissection shall submit documentation for claimed qualified expenditures to theboard.

 

9-12-405. Film industry financial incentive program; contractrequired; procedure; approval process.

 

(a) The board may contract with any entity engaged in thisstate in producing filmed entertainment for reimbursement of qualifiedexpenditures as provided in this article. The board shall be providedinformation required to determine if the production is a qualified productionand to determine the qualified expenditures, production costs and otherinformation necessary for the council to determine both eligibility for and theappropriate level of reimbursement. No reimbursement shall be made unless theboard has entered into an agreement which provides for adequate considerationto the state in exchange for the reimbursement provided. No reimbursement ofqualified expenditures shall be made by the board until the qualifiedproduction is complete and substantially all contractual commitments made tothe board have been fulfilled. If a qualified production is not completedaccording to a reasonable schedule, the contract shall be terminated and fundsreallocated to other qualified productions.

 

(b) The board shall establish a process by which a contractunder this article is formulated and executed and reimbursement amounts aredetermined. The board shall require information including, but not limited to:

 

(i) Production related employment;

 

(ii) Proposed total production budgets;

 

(iii) Planned expenditures in this state which are intended foruse exclusively as an integral part of preproduction, production orpost-production activities engaged in primarily in this state; and

 

(iv) A signed affidavit by a person authorized to commit theentity that the information provided to the board has been verified and iscorrect.

 

(d) The board shall not contract with any qualified productionfor reimbursement of qualified expenditures under this article unless the boarddetermines that adequate consideration to the state in exchange for thereimbursement will be provided under the contract. The reimbursement shall notexceed the amount of measurable benefit gained by the state resulting from thequalified production expenditures. The consideration may include but is notlimited to:

 

(i) Providing a storyline that is set in Wyoming;

 

(ii) Providing additional Wyoming behind the scenes footage;

 

(iii) Using Wyoming props and product placement; and

 

(iv) Providing a clear statement in the credits that the productwas filmed in Wyoming.

 

9-12-406. Film industry financial incentive program; rules andregulations; fraudulent claims; reporting.

 

(a) The board may adopt rules and regulations to implement thisarticle, including, but not limited to, requirements for the contract process,requirements for substantial completion of contractual commitments, recordsrequired for submission for substantiation of reimbursement and determinationof and qualification for reimbursement.

 

(b) An entity that obtains payment under this article through aclaim that is fraudulent is liable for reimbursement of the amount paid plus anamount double the payment plus reimbursement of reasonable costs. The amountsunder this subsection are in addition to any criminal penalty for which theentity is liable for the same acts. The entity shall also be liable for costsand fees incurred by the state in investigating and prosecuting the fraudulentclaim.

 

(c) The board shall report to the joint travel, recreation,wildlife and cultural resources interim committee and the joint appropriationsinterim committee by October 1 each year, expenditures under this article andthe return to the state on funds expended pursuant to this article.

 

9-12-407. Sunset provision.

 

W.S. 9-12-402 through 9-12-406 are repealed effective June30, 2011.

 

ARTICLE 5 - WYOMING COUNCIL FOR WOMEN'S ISSUES

 

9-12-501. Creation; areas of attention.

 

(a) The Wyoming council for women's issues is created withinthe Wyoming business council. The council for women's issues shall focusattention on the status of women in Wyoming with emphasis on the followingareas:

 

(i) Employment practices;

 

(ii) Educational opportunities;

 

(iii) Home and community;

 

(iv) Legal rights and responsibilities.

 

(b) As used in this article, unless otherwise specified,"council" means the Wyoming council for women's issues.

 

9-12-502. Membership; term; appointments; vacancies; removal;officers; acceptance of gifts and donations; expenses.

 

(a) The council shall be composed of fourteen (14) members,each of whom shall serve for a term of six (6) years. The governor shall makethe appointments and fill any vacancies for unexpired terms. The governor mayremove any member as provided in W.S. 9-1-202. The council shall be composed ofone (1) woman from each of the judicial districts in the state, four (4)persons chosen at large and the chief executive officer of the Wyoming businesscouncil or his designee who shall be an ex officio member. Not more than nine(9) members shall be from the same political party. Of the initial membersappointed from each of the judicial districts, three (3) members shall beappointed for terms of two (2) years, three (3) members shall be appointed forterms of four (4) years and three (3) members shall be appointed for terms ofsix (6) years.

 

(b) The council shall elect a chairman and vice-chairman fromits members. The Wyoming business council may employ a secretary on a part-timebasis to assist the council. The council may accept gifts and donations.

 

(c) Members of the council shall receive no compensation butshall be reimbursed under W.S. 9-3-102 and 9-3-103 for per diem and travelexpenses incurred in the performance of their duties.

 

ARTICLE 6 - COMMUNITY INFRASTRUCTURE PROGRAM

 

9-12-601. Wyoming business ready community program; purpose; creation;rulemaking.

 

(a) It is the purpose of this article to promote economicdevelopment at the city, town and county level in order to create additionaleconomic health and a stronger state economy.

 

(b) The council shall establish and administer a Wyomingbusiness ready community program as provided by this article. Any city, town orcounty may submit an application to the council for a grant or loan under theprogram on forms prescribed by and subject to rules promulgated by thecouncil. Grants or loans may be applied for by a joint powers board with theapproval of all participating agencies to the joint powers agreement. Grants andloans may be made by the council for economic or educational developmentinfrastructure projects, including the purchase of land, buildings, facilities,telecommunications infrastructure, rights of way, airports, sewer and waterprojects, roads, landscaping, recreational and convention facilities or otherinfrastructure determined by the council to be consistent with the purposes ofthis article. In adopting rules and making grants and loans under this articlethe council shall require all projects to be related to economic or educationaldevelopment infrastructure, which shall not include rehabilitation or expansionof existing infrastructure unless the council determines the rehabilitation orexpansion is necessary to meet the purposes of this article. All grants, loansor cooperative agreements made under this article shall be referred by thecouncil to the state loan and investment board for final approval ordisapproval. The state loan and investment board may adopt rules as necessaryto implement its duties under this article.

 

(c) Grants shall be matching grants as determined by thecouncil. Loans shall be made at no or low interest rates.

 

(d) Grants or loans shall be made under this article, only ifthe applicant demonstrates that upon receipt of the grant or loan, allprojected project costs will be funded. Grants or loans for one (1) project maynot exceed a maximum annual amount established by rule of the council.Multi-year projects may be awarded up to the maximum annual amount each year,for a period not to exceed three (3) years, as approved by the state loan andinvestment board. The application shall identify the source of all funds to beused for the project.

 

(e) Grants or loans may be used to fund project costs inaccordance with approved applications and rules of the council. Grant or loanfunds may be used to contract with community development organizations andstate development organizations in accordance with the purposes of this articleand approved applications.

 

(f) Loans provided under this article shall be adequatelycollateralized as determined by the council. No loans shall be made without thewritten opinion of the attorney general certifying the legality of thetransaction and all documents connected therewith. An election approving theproject and borrowing for the project by the qualified electors of theborrowing entity shall be required only if the attorney general determines suchan election is otherwise required by law.

 

(g) Repayments of loans under this section shall be credited tothe business ready community account.

 

(h) The council may also enter into cooperative agreements withthe Eastern Shoshone Tribe and the Northern Arapaho Tribe in order to promotethe purposes of this article.

 

(j) Grants may be made by the council for projects, inaccordance with rules of the council, which:

 

(i) Improve the development of businesses that will providedata generation and information technology storage capabilities statewide or inmunicipalities of the state;

 

(ii) Encourage and provide for the expansion of existingbusinesses providing information technology storage enterprises in the state,including those developed through the University of Wyoming business technologycenter;

 

(iii) Provide a reduction of the costs of electrical power orbandwidth, or both, to businesses meeting the provisions of paragraph (j)(i) or(ii) of this section. In exchange for providing these reductions in costs, thepolitical subdivision receiving the grant and providing the reduction in costsshall contract with the business to receive direct benefits and indirecteconomic development benefits including:

 

(A) A specific amount of capital investment by the business;

 

(B) A specific minimum payroll created by the business;

 

(C) The provision of information technology storage services tothe state or the political subdivision at a price discounted from the fairmarket value of the services; and

 

(D) An agreement to repay with a reasonable rate of return anyfunds received to reduce costs if the business relocates from the politicalsubdivision prior to the expiration of five (5) years from the date of firstreceiving funds.

 

(k) As used in this article:

 

(i) "Community development organization" means asdefined by W.S. 9-12-301(a)(ii);

 

(ii) "State development organization" means as definedby W.S. 9-12-301(a)(iv).

 

9-12-602. Wyoming business ready community program account.

 

There is created the business readycommunity account. Funds shall be credited to the account as provided by law.Funds in the account are continuously appropriated to the council to be usedonly for cooperative agreements, grants or loans authorized to be made underthis article.

 

9-12-603. Council duties; actions on grant and loan applications.

 

All complete applications to participate inthe grant and loan program established under this article which conform withthe criteria established by law and rules promulgated under this article whichare submitted to the council shall be considered by the council. The councilshall approve or disapprove each application it considers in accordance withthis article and rules of the council.

 

ARTICLE 7 - AIR SERVICES FINANCIAL AID

 

9-12-701. Amended and Renumbered as W.S. 10-3-601 by Laws 2005, ch.13, 1.

 

9-12-702. Amended and Renumbered as W.S. 10-3-602 By Laws 2005, ch.13, 1.

 

 

ARTICLE 8 - WYOMING COMMUNITY FACILITIES PROGRAM

 

9-12-801. Wyoming community facilities program; purpose; creation;administration by council; rulemaking authority; eligible projects.

 

(a) It is the purpose of this article to assist communities topreserve former school and government facilities that have existing or futurecommunity uses.

 

(b) The council shall administer a Wyoming community facilitiesprogram as provided by this article, subject to the approval of grants andloans by the state loan and investment board as provided by this article.

 

(c) Any qualifying community with a demonstrated need for acommunity facility, including a city, town, county, joint powers board or otherlocal governmental entity, may submit an application to the council for a grantor loan under this program on forms prescribed by and subject to rulespromulgated by the council. Application by a joint powers board shall requirethe approval of all participating agencies to the joint powers agreement.

 

(d) Grants or loans may be recommended by the council andawarded by the state loan and investment board for economic developmentcommunity facilities projects which provide:

 

(i) Space for community gatherings and functions;

 

(ii) Appropriate recreational, swimming and athletic facilitiesfor community members, particularly youth;

 

(iii) Other functions or uses determined by the council to beconsistent with the purposes of this article.

 

(e) In adopting rules and recommending grants and loans underthis article, the council shall require all projects to be related to economicdevelopment or enhancement of quality of life in a community. Projects mayconsist of:

 

(i) The expansion, renovation or remodeling of existing surplusgovernment facilities;

 

(ii) The purchase of an interest in or cooperative agreementsfor the expansion, renovation or conversion of school facilities to the extentthe facilities exceed statewide school building and facility adequacy standardsestablished by the school facilities commission under W.S. 21-15-115. Noownership interest to the project or facility under a project shall remain withthe school district upon expenditure of any funds under this program for anyproject.

 

(f) All grants, loans or cooperative agreements recommended bythe council shall be referred by the council to the state loan and investmentboard for final approval or disapproval in accordance with this article.

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