AB68,1365,2213 238.127 (3) Annually, the corporation shall select, upon application, up to 5
14municipalities to participate in the state main street program. The program for each
15municipality shall conclude after 3 years, except that the program for each
16municipality selected after July 29, 1995, shall conclude after 5 years. The
17corporation shall select program participants representing various geographical
18regions and populations. A municipality may apply to participate, and the
19corporation may select a municipality for participation, more than one time. In
20selecting a municipality, however, the corporation may give priority to those
21municipalities that have not previously participated
that are not participating in the
22program at the time of application
.
AB68,2540 23Section 2540. 238.127 (2) (f) of the statutes is repealed.
AB68,2541 24Section 2541. 238.127 (2) (h) of the statutes is renumbered 238.127 (4) and
25amended to read:
AB68,1366,5
1238.127 (4) Provide The corporation shall provide training, technical
2assistance and information on the revitalization of business areas downtown areas
3and historic commercial districts
to municipalities which that do not participate in
4the state main street program. The corporation may charge reasonable fees for the
5services and information provided under this paragraph.
AB68,2542 6Section 2542. 238.127 (2) (j) of the statutes is repealed.
AB68,2543 7Section 2543. 238.13 (2) (a) 2. (intro.) of the statutes is amended to read:
AB68,1366,118 238.13 (2) (a) 2. (intro.) All Unless the corporation determines under its policies
9and procedures that the case has received sufficient closure from the department of
10natural resources, all
of the following are unknown, cannot be located, or are
11financially unable to pay the cost of environmental remediation activities:
AB68,2544 12Section 2544. 238.13 (2) (a) 4. of the statutes is created to read:
AB68,1366,1413 238.13 (2) (a) 4. The recipient is not the party who caused the environmental
14contamination that is the basis for the grant request.
AB68,2545 15Section 2545. 238.13 (5) of the statutes is amended to read:
AB68,1366,1816 238.13 (5) Before the corporation awards When making a grant under this
17section, the corporation shall consider the recommendations of consult with the
18department of natural resources.
AB68,2546 19Section 2546. 238.133 (2) (c) of the statutes is amended to read:
AB68,1366,2520 238.133 (2) (c) The Unless the corporation determines under its policies and
21procedures that the case has received sufficient closure from the department of
22natural resources, the
corporation may only award grants under this section if the
23person that caused the environmental contamination that is the basis for the grant
24request is unknown, cannot be located or is financially unable to pay the cost of the
25eligible activities.
AB68,2547
1Section 2547. 238.137 of the statutes is created to read:
AB68,1367,7 2238.137 Pandemic recovery. The corporation shall aid in the state's
3economic recovery from the COVID-19 global pandemic by providing financial
4assistance to small businesses adversely affected by the pandemic, including for the
5retention of current employees and the rehiring of former employees. The
6corporation shall, as necessary, coordinate with the Department of Revenue in the
7administration of programs under this section.
AB68,2548 8Section 2548. 238.139 of the statutes is created to read:
AB68,1367,12 9238.139 Financial assistance for underserved communities. The
10corporation shall expend $5,000,000 annually to provide grants, loans, and other
11assistance to underserved communities in this state, including members of minority
12groups, woman-owned businesses, and individuals and businesses in rural areas.
AB68,2549 13Section 2549. 238.145 of the statutes is created to read:
AB68,1367,15 14238.145 Venture capital fund of funds program. (1) Definitions. In this
15section:
AB68,1367,1716 (a) “Investment manager” means the person with whom the oversight board
17enters into a contract under sub. (4).
AB68,1367,1818 (b) “Oversight board” means the oversight board created under sub. (2) (c).
AB68,1367,22 19(2) Establishment of program. The corporation shall establish and administer
20a fund of funds program to invest moneys in venture capital funds that invest in
21businesses located in this state, subject to the requirements of this section. In
22establishing the program, the corporation shall do all of the following:
AB68,1367,2323 (a) Create a fund of funds.
AB68,1367,2424 (b) Provide that the fund of funds will continuously reinvest its assets.
AB68,1368,2
1(c) Create an oversight board to conduct any activity as required by this section
2or as directed by the corporation.
AB68,1368,8 3(3) Investments in venture capital funds. (a) The investment manager shall
4request from the corporation monies to make investments through the program
5established under sub. (2) and to pay the investment manager's management fee,
6and the corporation shall, subject to the approval of the secretary of the department
7of administration, pay the monies to the investment manager from the appropriation
8under s. 20.192 (1) (c).
AB68,1368,109 (b) The oversight board shall establish investment policies for the program
10established under sub. (2), subject to all of the following conditions:
AB68,1368,1411 1. All moneys paid to the investment manager under par. (a) to make
12investments shall be committed for investment to venture capital funds, subject to
13the requirements of this section, no later than 60 months after the creation of the
14fund of funds under sub. (2) (a).
AB68,1368,1715 2. No more than $25,000,000 of the total moneys paid to the investment
16manager under par. (a) to make investments may be invested in any single venture
17capital fund.